US cent experimental issues / 1942-1975

Started by brandm24, September 24, 2020, 05:34:00 PM

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brandm24

Yes, the lettering is just random and has no meaning. At one time it was thought to be code of some sort or die identifiers, but that's been found to be incorrect.

I don't recognize the portrait but it's probably an image of the engraver's wife...or his mistress. ;D

Bruce
Always Faithful

brandm24

ALUMINUM CENTS (1974-1975)

In 1973 the mint decided to use a new aluminum alloy to replace the copper used at the time. The price of copper had soared to the point where it cost more than the coin's face value to manufacture them. This difference betweem cost and actual value is called seigniorage and is an important consideration in the cost structure of the minting process. The goal of course is to make a profit and in this case the high cost of copper prevented that.

The first aluminum cents were dated and struck in 1974 and totaled over a million and a half examples. Despite this they were never released into circulation. Protests from copper mining interests and the vending industry, and a sudden drop in copper prices doomed the issue and all examples were ordered destrpyed.

For what ever reason the mint also struck a small number of aluminum cents dated 1975. The number varies depending on the source but mint records indicate that only 58 examples were struck all on May 28, 1974. The reason for doing so is not known.

Though all examples of 1974 and 1975 prototypes were thought to have been melted together, some have survived. Mint records again provide some detail in this regard. They estimate that between 5 and perhaps as many as 14 1974 examples  survived the furnaces. However, on the other hand, according to David Lange, an internal mint audit discovered that two examples of the extremely rare 1975 coins are unaccounted for. Their whereabouts today are unknown.

The attached image is of a plaster used in processing the manufacture of  production dies. Please note that the last digit of the date is missing. That would have been added later.

Bruce

Always Faithful

Figleaf

Highly interesting. My memory says the idea of aluminium cents was nixed because people disliked aluminium coins, while you write:

Quote from: brandm24 on September 27, 2020, 01:12:10 PM
Protests from copper mining interests and the vending industry, and a sudden drop in copper prices doomed the issue and all examples were ordered destroyed.

So now I wonder if the idea was nixed because:

  • Tax payers didn't like it and it's their own money they're wasting.
  • Lobbyists didn't like it and they're organised, while tax payers aren't
  • A sudden drop in copper prices occurred
I hate the idea of copper mining lobbyists deciding that money should be wasted on them, but remember paper lobbyists blocked printing less or no dollars and striking them instead. Wasn't there at least an aluminium lobby?

I think we can dismiss 3 as the real reason. The drop in copper prices was neither unexpected nor sudden. It came about because copper cables were fast replaced by glass fibre and air waves. The drop in prices has long since reversed and US cents are still bronze clad.

Also, I wonder why nobody ever thought of brass instead of bronze, even as cladding. It is basically an alloy of copper and (lots of) zinc, so significantly cheaper and it looks and feels better than aluminium.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

brandm24

I read several sources that stated one reason for nixing aluminum coins was in part because the falling of copper prices. Of course that begs the question, maybe self-interest forced the copper people to lower prices at an opportune time so as to pull their chestnuts out of the fire.

I don't like aluminum coins personally, but I never came across anything that said Americans were against it. Maybe the aluminum lobby was more concerned with the price of foil. :) After all who doesn't like a baked potatp wrapped in foil. ;D

Bruce
Always Faithful

brandm24

This coin seems to be another roller press die pattern, but has never been positively linked to them. The design is very similar, including the gibberish on the reverse and the wreath. The big difference of course is the bust. It most resembles the rendition of Liberty on the 1792 disme pattern, but isn't that close a match to the other obverse roller die designs. See a comparison in reply #12.

This experimental example wasn't identified for sure until it resurfaced at the January, 1995 FUN show in Orlando, Florida. Previously, it was last reported in an article in The Numismatist in May, 1980, and apparently an even earlier mention in another publication in May, 1962. It's unclear if this was the same piece, however. If it were, that means it predated the other patterns by at least two years, as they were all designed and struck sometime between 1964 and 1969. This issue is unlisted in Pollack's book on pattern coins.

Bruce

Always Faithful