The 1959 Lincoln Memorial Cent marked a new chapter in U.S. coinage history, as it replaced the iconic Wheat Penny with a reverse design showcasing the Lincoln Memorial.
This transition was not only significant in terms of design but also in its symbolism, celebrating Abraham Lincoln’s enduring legacy. For collectors, this coin holds a unique appeal due to its historical value, design, and the potential for rare errors.
History
The Lincoln Memorial Cent was introduced in 1959 to commemorate the 150th anniversary of Abraham Lincoln’s birth. Designed by Frank Gasparro, the reverse features the Lincoln Memorial, replacing the wheat ears present on pennies since 1909.
This design change symbolized a modernized approach to U.S. coinage while still honoring the nation’s 16th president.
Key Design Features:
- Obverse: Retained Victor D. Brenner’s classic portrait of Lincoln.
- Reverse: Depicts the Lincoln Memorial, with the words “E Pluribus Unum” and the denomination “One Cent” below it.
- Composition: Primarily 95% copper and 5% zinc, making it durable and visually striking.
Rarity and Value
While billions of 1959 cents were produced, certain variations and errors have made some specimens highly sought after. These coins are affordable for casual collectors but can command premium prices in specific conditions or with unique features.
Factors That Determine Value:
- Mint Mark: Coins minted in Philadelphia (no mint mark) and Denver (D) have different production quantities, affecting their availability.
- Condition: Coins graded MS65 or higher by professional grading services are significantly more valuable.
- Errors and Varieties: Errors such as doubled dies or off-center strikes can make a coin worth hundreds or even thousands of dollars.
| Mint | Mintage | Value (MS65+) | Key Features |
|---|---|---|---|
| Philadelphia | 609,715,000 | $15 – $50 | No mint mark |
| Denver | 1,279,760,000 | $10 – $45 | “D” mint mark |
| Error Varieties | Limited | $500 – $10,000+ | Doubled dies, misstrikes |
Key Errors and Varieties to Look For
Collectors often seek coins with errors or unique varieties, as these are rarer and more valuable. Here are some notable examples:
- Doubled Die: Look for doubling in the lettering or date, particularly on the reverse.
- Off-Center Strikes: Coins struck off-center can fetch prices ranging from $100 to $1,000, depending on the degree of misalignment.
- Die Cracks: Small cracks in the die that appear on the coin’s surface can increase its desirability.
- Repunched Mint Marks (RPM): Coins where the mint mark was struck multiple times are prized by collectors.
Tips for Collecting the 1959 Lincoln Memorial Cent
- Inspect for Errors: Use a magnifying glass to detect doubled dies, off-center strikes, or other anomalies.
- Grade Your Coins: Professional grading services like PCGS or NGC can authenticate and grade your coins, enhancing their value.
- Store Properly: Keep coins in protective holders to maintain their condition and prevent tarnishing.
- Research Market Trends: Regularly check auction results to understand the current demand for specific coins or errors.
Why the 1959 Lincoln Memorial Cent Is a Must-Have
The 1959 Lincoln Memorial Cent represents a pivotal moment in U.S. numismatic history. Its blend of affordability, historical significance, and potential rarity makes it appealing to collectors of all levels.
Whether you’re searching for high-grade examples, error coins, or simply wish to own a piece of history, this coin is a valuable addition to any collection.
Conclusion
The 1959 Lincoln Memorial Cent is more than just a coin; it’s a celebration of Abraham Lincoln’s legacy and an evolution in American coinage. Its widespread availability, coupled with the allure of rare errors and high-grade examples, ensures its place in the hearts of collectors.
For those intrigued by history and rarity, this coin is a must-have that continues to stand the test of time.
FAQs
1. What makes the 1959 Lincoln Memorial Cent valuable?
Factors like mint mark, condition, and errors such as doubled dies or off-center strikes contribute to its value.
2. How can I identify an error coin?
Look for anomalies like doubling in lettering, off-center strikes, or die cracks.
3. What is the most valuable 1959 Lincoln Memorial Cent?
Error coins or those graded MS67 or higher are the most valuable, sometimes fetching thousands of dollars.
4. Are 1959 Lincoln Memorial Cents rare?
While billions were minted, rare error coins and high-grade specimens are scarce.
5. Where can I sell a 1959 Lincoln Memorial Cent?
Reputable coin dealers, online marketplaces, and auction houses are excellent venues to sell rare or high-grade coins.
