Sunday, February 24, 1957
THE MICHIGAN DAILY
Page Fi
THE ART F COI N COLLECTING
By WILLIAM IhANEY mints, proportionally fewer rani
Daily staff write tieshave come from Philadelphia.
NUMISMATICS-or coin collet- On the other hand, Charlotte,
ing is celebrating its cenen- North Carolina, and Carson City,
nial birthday in the United States Nevada, coins are almost always
this year. In 1857, when the large- in great demand because the mints
sized cent was discontinued, many lasted only a few years and struck
persons not formerly interested in comparatively few coins durin
coins except for their purchasing their existence.
power attempted to accumulate Besides the obvious classiird-
a complete set of the pieces as a tions a coin falls under by con-
hobby while they were still in cir- dition and denomination, it is
culation. Since then American even further distinguished by its
coin - collectors ha'e increased "mint mark," an initial or two of
twenty-fire fold. the mint that struck the coin.
Only the very wealthy can af- Coins struck at Philadelphia (with
ford a collection containing a coin the exceptions of 1942 to 1945
from each year's mint since the five-cent pieces) do not bear a
striking of the first American coin, mint mark. Branch mints how-
the half-dime (disme), at Phila- ever, carry the following initials:
delphia in 1792. But the well-to-do "S," San Francisco, in operation
collector seldom gets more enjoy- since 1854; "D," Denver, minting
ment from his hobby, though he since 1906: "CC", Carson City,
can purchase rarer varieties than 1870 to 1893; "D," Dahlonega
the amateur who buys rolls of Georgia, gold coins only, from
pennies and nickels from the bank:1838 to 1861; "o" New Orleans,
or corner drug store, searching 1838 to 1861; "C' Charlotte, 1838
for the many rare coins passing to 1861.
through the hands of people un- Mint marks on the Linoln head
aware they may be putting I cent are located under the date'
nickel or dime sworth several hund- aon the obverse, "heads" side of
red dollars in i candy machine or the coins; on the Buffalo nickel
parking meter I the mark is under the "five cents"
beneath the Buffalo on the re-
jETERMINING value of a coin verse, "tails" side; on the Mercury
requires familirity w i only dime the mark is on the reverse
a few bsic principles and numis- side to the left of the fasces, the
matic terms. Age is probably the staff in the middle of the coin.
most unreliable way to judge the The beginning collector should be
worth of coins. A one-hundred- ca'eful to locate the mint mark
year-old silver dollar may be worth before he tries to evaluate the
only one dollar if it does not sat- worth of the specimen,
isfy other requirements necessary
for a coin to be considered a rare rJ'HERE ARE also other distin-
piece. guistiing marks; initials of'
Condition is one of the most im- the designer, imperfect specimens
portant factors in determining produced by faulty or aging dies,
the value of a coin as a "collect- and overstrikes that make other-
or's item." The most perfect classi- wise common vavities rare. For-
fication of a coin is "proof"; these geries of these unusual specimens
are coins that have been struck are quite commonplace and in
from polished dies leaving a sur- some cases almost impossible to
face almost mirrorlike and un- distinguish from the legal pieces.
touched by human hands. Puila- Probably the most familiar pe-
delphia is the only United States culiarity is the 1909-S-VDB. The
mint striking proof coins that are "S" of course is the mint mark,
sold at the premium to the public but two varieties of "S" coins were
through the mail, struck at San Francisco in 1909,
Uncirculated specimens of the one bearing the initials of Victor
earliest American coins are found D. Brenner, the designer of the
in many European colletiuss Liicoln head cent, the other with-
which have been ret ained throuLish out the initials. A magnifying
intervenin" years. Uncircul'ld l as is sometimes necessary to
pieces of almost evry Amer,i rte the "VDB" on the bottom
coin have been presersid throh of the reverse side of the coin,
generations because they have and such specimens in even "poor"
been tucked away in a1tii svaults condition are valuable to colle't-
and safe ors or coin dealers.
In 1864, when the bronze In-
(RADING O CONS s iiom dian head cent was introduced,
classifications of extra fine some pennies oarried the initial
to "poor," entirely depending upon "L" of the designer Longacre, on
whether the specimen has surviv- the headdress ribbon of Sarah
ed circulation. A "poor" coi, one Longacre, a white girl wearing an
very vorn or mutilated, is worth Indian headdress. Those speci-
only "face value" unless it is of mens with the "L" on the ribbon
a type of which few have been are the rarest of the Indian head
minted. cent.
Quantity minting is the next,,arge cents, from 1793 to 1857,
most dependable criteria for the one of the most popular denomi-
economic value of a coin. Because nations in numismatics circles, are
over one million half-cents were the subject of most frequent al-
minted in 1804 that coin is worth tering. Fake cents of the rare 1804
only two or three dollars, evca in piece are made by altering the
"fine" condition. But when only 1801, A fake was manufactured in
18 half-cents were struck 48 years the U.S. mint in 1860 by some
later, that particular variety be- employees seeking to profit from
came one of the rarest American the tremendous demand for that
coins and each specimen is worth coin. However, they used an 1818
several hundred dollars in any die for the reverse side and the
condition. Judging the worth of fake can be easily distinguished
a coin solely by the quantity mint- from the original.
ed can be very misleading, how-
ever, and a few freaks of Ameri- SOME OF the rarest coins still
can domestic policy have produc- in circulation are the Liberty
ed some outstanding rarities in standing quarters minted from
the numismatic society, 1916 to 1924 which are scarce in
Under the Pittman Act of April, any condition. The quarters struck
1918, 270,232,722 silver dollars during this period had the date
were melted down; 259,121,554 in the same position as in later
were exported to India and 11,- issues, but because the date was
111,168 melted and divided into raised from the face of the coin
domestic subsidiary coins. Since it wore quickly and is almost al-
most of the dollars in circulation ways obliterated after a few years
at that time were 1903 varieties in circulation. The 1918-S is es-
minted at New Orleans and San pecially rare for a few of the coins
Francisco, both specimens became were struck at the mint with an
quite rare though almost six mil- "8" over the "7,"
lion were struck. While the regular issue coins,
pennies through silver dollars,
IOIN VALUE in many cases can can, be collected by the average
be directly correlated with the person at little expense, commem-
size and importance of the mint orative coins and silver dollars
where the piece was struck. Be- can become an extensive hobby
cause Philadelphia is the oldest to very few people because most:
and largest American mint and of these specimens were produced
struck far more coins than other See THE SCIENCE, Page 11
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