The 1917 Lincoln penny is a highly sought-after coin among numismatists and collectors alike.
This year marked the fourth of five issues featuring the Wheat Reverse design, which was introduced in 1909 to honor the 100th anniversary of Abraham Lincoln's birth.
The original mintage for this issue was more than 286 million coins - making it one of the most widely produced pennies ever!
It has become a popular collectible due to its historic significance and potential value as an investment, so let's take a closer look at what makes the 1917 Lincoln penny unique.
Historical Background
The Lincoln penny, an iconic coin minted by the United States government since 1909, has a rich and complex history.
It was first designed as part of President Theodore Roosevelt’s plan to redesign American coins with artwork that reflected “nationalistic pride” in response to the nation's growing population and industrialization.
The final design for the obverse side of the coin featured Abraham Lincoln in profile, with two wheat stalks on either side representing both agriculture and industry — symbols of national strength and progress.
For generations, Americans have looked upon this beloved piece of currency with admiration.
Its symbolism is deeply meaningful; depicting not only our 16th president but also reflecting upon his legacy: freedom, equality and justice for all.
As such, its imprint suggests shared values between citizens across borders.
This idea is further reinforced by its use in everyday transactions throughout America — from New York City to Los Angeles—the Lincoln Penny reminding us each day just how far we’ve come together as a nation.
In 1969, a special edition reverse die featuring Honest Abe standing up instead of facing forward was issued for circulation — commemorating the 200th anniversary of his birth.
Since then different varieties have been released regularly, many being highly sought after collectibles today - symbolizing unity among Americans everywhere through its timeless representation of what it means to be truly free.
Design Features
The reverse design of the Lincoln penny is an iconic image of a Union shield, with a banner bearing the words 'E Pluribus Unum'.
The obverse, or front, features the classic Lincoln portrait created by Victor David Brenner. It is a stunning portrait that has become iconic to American coinage.
The design of the penny has been unchanged since 1909, making it a beloved symbol of the United States. It is a classic example of numismatic art that will remain timeless.
Reverse Design
The reverse design of the Lincoln penny is one of its most iconic features. It's instantly recognizable, with a strong profile bust of President Abraham Lincoln set against an oak wreath and encircled by the words 'In God We Trust.' For numismatists, this coin has become a symbol of America's history, featuring many intricate details that make it such a beloved item.
The reverse side also contains some other intricacies worth noting. The ribbon tied to the top of the wreath bears two inscriptions: 'E Pluribus Unum' on the left-hand side and 'One Cent' on the right-hand side. Both phrases were written in Latin, making them even more special for collectors. In addition to these two inscriptions, there are thirteen stars representing each original colony – perfect symbolism for those fascinated by Americana.
This classic design has been around since 1909 when the Lincoln penny was first issued and still remains unchanged today – only used as a backdrop for additional commemorative designs over time.
Truly timeless and full of meaning, it's no wonder why so many take pleasure in collecting coins bearing this unique artwork!
Lincoln Portrait
Moving from the reverse design to the obverse, we come across one of the most iconic images in American numismatics – a portrait of Abraham Lincoln.
It's as if this image has been frozen in time for over a hundred years, with its smooth lines and noble presence. As soon as you see it, you know instantly that it's him. There isn't an ounce of doubt about it!
This portrait was designed by Victor David Brenner, who combined subtle details such as a mole on his chin and wrinkles around his eyes to make it look lifelike. What's even more special is how he captured not only physical features but also Lincoln's inner strength and wisdom.
For collectors, though, perhaps the best part about this portrait is all the different coins featuring it which have been issued since 1909. For example, there have been various issues commemorating important moments in history or honoring aspects of Lincoln's life and legacy: The Birthplace Memorial Cent (1916), the Gettysburg Address Cent (1963), and many others like them with their own unique designs surrounding the classic bust of President Lincoln.
All these variations make collecting them very exciting! What makes this portrait so beloved among numismatists is its timelessness; no matter what year or issue we're looking at, we can appreciate its beauty today just as much as when it first appeared back in 1909.
Mintage Numbers
The design of the Lincoln Penny is an iconic reminder of President Abraham Lincoln and his lasting legacy. From its inception in 1909, it has been a favorite amongst collectors due to its simple yet powerful symbolism. But while its appearance has remained consistent over time, there have been significant changes when it comes to mintage numbers.
Intriguingly, more than 8 billion pennies were created in 2018 – nearly double the amount produced since 1990! This indicates that despite the rise in digital payments, physical coins are still important for commerce today.
By delving deeper into these figures we can gain further insight into how gold standards and national economies influence minting operations:
- Inflation rates: The US government prints new currency when needed to account for inflationary pressures on the economy. High denominations such as dollar bills are often affected first but penny production also increases accordingly.
- Gold reserves: Each country must maintain sufficient amounts of gold reserves in order to back up their currencies with real value. This affects coin production levels depending on which denomination is most common at any given moment.
- Commemorative issues: Special occasion or commemorative coins tend to be issued less frequently than regular ones and therefore may not show up prominently in annual mintage figures, making them desirable among collectors who seek out rarer pieces.
Overall, understanding mintage numbers gives us a better appreciation for collecting coins and what makes each specimen unique within a larger context; something numismatists strive to uncover every day!
Current Value
The Lincoln penny is one of the most iconic coins in American history, and its value to numismatists remains strong. The following table offers an overview of how much a Lincoln penny may be worth based on condition:
| Grade | Lowest Value (USD) | Highest Value (USD) |
|---|---|---|
| Good (G-4) | 0.03 cents | 1.00 cent |
| Very Good (VG-8) | 0.10 cents | 3.50 cents |
| Fine (F-12) | 0.30 cents | 10.00 cents |
| Extremely Fine (EF-40) | 2.75 cents | 400 dollars |
| Uncirculated MS60+ | 5 dollars | 1000 dollars |
A Lincoln penny in good condition will usually fetch at least three times its face value, while an uncirculated coin can bring up to $1000 depending on its grade and date of mintage. For instance, the 1909 SVDB variety with only 484,000 examples minted could go for as high as $2500! Collectors should use caution when appraising their coins since they are still subject to market fluctuations that may alter the values over time; however, these figures serve as useful guidance when attempting to estimate the worth of any given specimen. As such, it's no wonder why this humble copper cent has remained so highly sought after among numismatists throughout US history!
Investing Considerations
The Lincoln penny, a classic collectible for decades, has been an enduring symbol of financial success and accomplishment. As the copper-colored coin spins in the light it glimmers with potential, beckoning even the most experienced numismatists to take notice.
Investing considerations must be taken into account when deciding whether or not to add this iconic piece of Americana to your portfolio. When evaluating a particular specimen of the Lincoln penny, expert consideration should be given to its condition, age and rarity before making any significant investments. A higher grade indicates that the item is more valuable than one which may have had heavy handling over time. Furthermore, coins minted prior to 1958 are often highly sought after due to their scarcity on the market as well as their unique characteristics compared with later versions.
It is important to note how much you can expect to pay for a particular item based on current trends in the marketplace. An investment in precious metals can easily appreciate over time but also carries substantial risk depending upon economic conditions at any given moment. Prices may remain stable or dip significantly if certain catalysts push them downward; remaining vigilant about emerging news within the industry will help inform decisions you make regarding this type of asset purchase.
Frequently Asked Questions
What Is The Exact Size Of The 1917 Lincoln Penny?
Numismatists are well-versed in the various sizes of coins. The Lincoln penny is a staple example, with its size varying depending on the year it was minted.
Specifically, the 1917 Lincoln penny measures 19 millimeters (mm) wide and 1.5 mm thick, allowing collectors to easily identify this coin from other years.
What Is The Composition Of The 1917 Lincoln Penny?
Numismatists often discuss the composition of coins when discussing their value, rarity and history.
The 1917 Lincoln penny is composed of 95% copper and 5% tin and zinc alloy.
These metals are commonly used for coinage due to their durability; although this was not always the case with early U.S. coins which were often made from silver or gold alloys.
Are There Any Distinguishing Marks On The 1917 Lincoln Penny?
As the adage goes 'a penny saved is a penny earned', the 1917 Lincoln Penny is worth its weight in gold for both collectors and investors alike.
With regard to the current topic, yes, there are indeed several identifiable marks on this particular coin that can be used to distinguish it from other coins of similar design.
It features Victor David Brenner's initials V.D.B., which were first added as part of the coin’s reverse inscription in 1909.
In addition, two wheat ears – an iconic symbol of prosperity – appear at either side of Lincoln's portrait.
Are There Any Special Editions Or Varieties Of The 1917 Lincoln Penny?
As a numismatist, I'm often asked about special editions or varieties of coins. The 1917 Lincoln penny is no exception - there are several different versions available in the market today.
These include the regular issue coin, as well as die varieties such as the doubled-die obverse and reverse, repunched mint marks, and other over Mint Marks. Collectors can also find many rarer variations of this iconic American penny, including custom struck pieces with added features like extra dates and stars!
What Is The Best Way To Store The 1917 Lincoln Penny?
As a numismatist, it is important to store coins in a way that will protect them from damage.
The best way to store the 1917 Lincoln penny is by keeping it in an acid-free storage container or holder.
This will help prevent any oxidation and keep the coin safe while you enjoy its beauty.
Conclusion
The 1917 Lincoln Penny is a special piece of numismatic history. Its exact size is 19 mm, and its composition is 95% copper and 5% tin and zinc. It has no distinguishing marks or varieties except for the mintmark that distinguishes between various mints.
To preserve this historic coin, it's best to store it in an airtight container with soft cloth lining and away from direct sunlight - like a time capsule!
As an avid collector of coins, I'm proud to own such an iconic relic from our nation’s past. After all, they don't make 'em like they used to!