Thursday, December 5, 2013

Spotlight in History - 1944 Lincoln Cents - Variety Bound and Plentiful for all Budgets

The nation was several years into the tumultuous war of the nations in 1944.  What exactly had transpired numismatically during that period?  In the efforts of rationing copper, nickel and other industrial metals for war use, the U.S. minted zinc-coated steel cents in 1943 and Jefferson nickels were struck on combination silver/manganese alloy stock.  After the one-shot 1943 date, the nickels were still silver at this point, but the U.S. had decided to transition back into production a copper alloy Lincoln cent that we're all used to seeing in daily commerce.  If there was any real difference, you could see it in the color of the bright red hues of the newly struck cents.  The look was somewhat more subdued in comparison to an uncirculated 1942 Lincoln cent, and they seem to tarnish to brown a little faster.  A lot of this had to do with the recycling program the mint was participating in, disposed shell casings were smelted and reformed into copper sheets for Lincoln cent production purposes.  Not only was it another transition point in U.S. coinage, but it would chronicle to be a "gateway" date to what would be a variety lover's paradise until the Wheat design came to a close in 1958.  With millions upon millions of 1944 cents produced, there were a number of "chase" varieties to be found.  Here are the most notable:

1944 Cents Struck on Leftover Zinc-Coated Steel Blanks

Rare 1944-D Lincoln cent mistakenly
struck on a leftover steel planchet from
the 1943 campaign.
Purported over history as one of the marquee mistakes in U.S. coinage.  An example of the 1943 copper cent was the dream coin, it was never supposed to be found in the wild.  As a result of long man hours at the mint, smaller than usual production staff, and billions of coins minted during it's day, the accidental release of one of these off-planchet coins was a sure thing.  With a small grouping of examples found, graded, and sold through notable auction venues over the years, the 1943 has gradually increased in not only value (last examples selling for $100k's of thousands), but also popularity because more and more people want the elusive coin.  And so enter the copper 1943's younger brother, the 1944 steel cent.  Not only is it more rare than its sibling, but it's a dramatic version only to be overshadowed by conspiracy.  It truly is a remarkable and true find in numismatics, and one that will gain in popularity as the rare coinage market continues its upbeat tempo.

1944 D/S Over Mint Mark Varieties

Famous for its mugshot in Whitman's
Redbook Price Guide, the 1944 D/S
varieties are not only monumental chase
pieces in cherrypicking, they are also a
popular variety that is making its way into
more and more wish lists.
The Denver mint has been a driving force since it's opening in the early 20th century.  What it had been known for, was it's strict standards of quality control that far surpassed the Philly and San Francisco minting facilities.  Denver's mint had released several "oops" coins that have made its way to the public such as the 1911-D/D cent and the 1942/41-D Mercury Dime.  The 1944 D/S became the heir apparent and the eventual placemarker for modern day variety hunting.  Because of it's appeal and availability as a very findable key, it has been pulling more and more bag searchers in the hopes that one of the dozens of 1944's will exhibit the drastic over mint mark.  The great news is that there are two varieties of over mint marks for the date, and both are worth the money in the marketplace because the collector base is strong for this variety. In conclusion, I can see the popularity rising as a result of phenomenal market activity.  

Other great attributes to the 1944 cent:  
*Lots of brilliant uncirculated examples still exist today for less than a dollar, great date to hoard in any mint mark variation.  
*Can't find the fabled 1944 D/S?  That's okay, because there are over (count them) 90 various Doubled Dies and Re-punched mint marks to be found.

Photos courtesy of NGCcoin.com and Heritage Auctions.  For more information on this date in Lincoln cent history, please feel free to visit  www.coppercoins.com or www.lincolncentresource.com.


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