Wednesday, August 12, 2009

Lincoln Penny 1909




2009 marks the centennial of the first issue of the Lincoln cent, or penny as it is known in the U.S., first issued in the United States of America in 1909, that year being the centennial of Lincoln's birth. You could say it's the centennial of the centennial cent. The Lincoln cent was the first circulating U.S. coin to feature the effigy of a real person rather than an allegorical representation of a female figure of "Liberty". When it was first released there were queues at banks, people were so eager to get their hands on a specimen. At the time it was thought that it might be a one year only commemorative with a limited mintage. The coin is still being issued today, albeit with a redesigned reverse, the wheat ears being replaced with an image of the Lincoln memorial in 1959. There are also special commemorative designs with a Lincoln theme being issued this year. It would in my opinion have been fitting to revive the original 1909 "wheat" reverse in commemoration, but mints the world over are staffed with designers using digital design software to come up with all sorts of non-circulating "comemmoratives", which aren't really coins at all (just money making ventures which clog our catalogues), and they are just itching to leave their mark on the circulating coinage of the day. The issuance of the cent has become the subject of some controversy in the U.S., with the cost of production exceeding the face value of the coin. Many people would like to see it withdrawn from circulation, but such action must be approved by the U.S. House and Senate, and there are powerful interests who wish it to remain in circulation. The main arguments against it's withdrawal appear to be 1. sentimentality, 2. the fear of inflation, and 3. lobbying from the zinc industry (while the cent appears to be a copper coin, it is in fact since 1982 been struck in copper plated zinc). Meanwhile, each year hundreds of millions, sometimes billions, are minted and circulated, filling jars and drawers, because individually or even by the handfull, they are all but useless.

Saturday, July 18, 2009

Australia Fifty Cent Double Strike 1972




A 1972 dated Australian fifty cent coin, which after being struck, was not properly ejected from the coining press, and was struck a second time with only part of the coin still resting between the dies. Such a spectacular double strike of this large sized decimal Australian coin is very rare. Although the number of collectors of this kind of coin error is small, on the rare occasions they come up for auction they tend to achieve high prices.

Sunday, July 12, 2009

Great Britain Farthing 1860




From 1806 until 1860, the British copper coinage, consisting of the penny, halfpenny and farthing (quarter penny) was struck in pure copper, and was quite large and incovenient to carry. Pure copper is also quite soft and the coins wore quickly. The copper coinage was replaced from 1860 with a smaller sized issue struck in bronze. The coin illustrated is an uncirculated farthing dated 1860. Initially the new coins were struck with a border composed of round beads, however problems with premature die breakage were encountered and it was decided later in 1860 to replace the beads with a more conventional "toothed" border. Thus the 1860 bronze coinage was issued with two distinct border treatments. The coin illustrated is of the earlier "beaded" type. It also shows prominant die cracks on the obverse, especially between A of VICTORIA and D of D:G:, also through the top of Victoria's head. Note also that British coins to this day do not display the country of issue.

Saturday, June 13, 2009

Off Centre New Zealand 2 cent

A nice example of a New Zealand misstrike. New Zealand errors of this type are rare, both in the decimal and pre-decimal series. Unfortunately the date is not visable on this specimen, but coins of this type were struck between 1967 and 1983.