It’s Worth a Penny for Your Thoughts
Question: What can you get for a penny today? Not much. You can’t even use pennies in parking meters any longer. I have quite a few pennies that I would like to get rid of, but before I part with them, I would like to ask if there are some that are worth more than their original value.--S.R.
Answer: The poor, maligned cent. No one seems to want it yet everyone seems to save it. Well, why not; if it’s not worth anything, then just toss it into a jar. There must be enough cents in jars and drawers around the country to pay off the national debt.
Of course, that’s just the problem. In order for something to gain value, it has to be in short supply or have some intrinsic value.
The cent suffered the final indignity in 1982 when the mostly copper piece was turned into an alloy of 97.6% zinc and 2.4% copper. The original wheatback reverse of the Lincoln cent, first issued in 1909, was finally changed in 1959 to the familiar Lincoln Memorial.
So, for casual collectors who have put cents away for reasons even they probably don’t understand, the first thing to do is sort out the coins. Put those with wheatbacks in one pile, those with the Lincoln Memorial in another. For all practical purposes, cents with the Lincoln Memorial on the reverse taken from circulation have no collector value.
Now, there are certain qualifications to this. A person putting together a date set needs even the common dates. And there are certain errors, such as the ’72 doubled die and other oddities, that warrant premiums. Don’t expect to find these unless you know what to look for.
Wheatbacks, on the other hand, almost automatically carry a slight premium, perhaps a half cent per coin and up. There are certain key dates, most of them in the 1920s and earlier.
Also, a factor in determining the value of cents is the color. Bright colors--gold, red, copper, iridescent reddish-gold--increase a cent’s value. Dull colors usually detract from the value. These are factors that real collectors deal with and, believe it or not, get excited over.
There are many catalogues and specialty books just on the cent. If you don’t trust a coin dealer to offer you a fair price, check prices out for yourself.
Q: I have these coins from the Franklin Mint: from the the Bahamas, 1971 nine-piece proof set, 1972 proof set, 1973 proof set; Jamaica, 1972 proof set; Trinidad and Tobago, 1972 proof set.--L.A.M.
A: Your coins are in the $15-to-$35 range per set.
Q: I have a very nice British commemorative coin of Queen Elizabeth II. I have tried to find a silver-colored bezel so I could use the coin with a chain as a necklace. I have had no luck at coin dealers. Other readers may have the same problem. Where do you suggest we look for coin bezels?--A.D.
A: Bezels are usually available for popular, standard sizes. If you’ve been unable to find one for your British coin, you may have to go to a jeweler and have one custom-made.
Coin Calendar
Saturday and Sunday--A two-day coin grading workshop sponsored by the Numismatic Assn. of Southern California will take place at Cal Poly Pomona. The workshop, the third held by the active coin organization, will be conducted by Rick Montgomery, director of the American Numismatic Assn. Certification Service. A $50 fee is being charged non-members. To apply, contact Harold Katzman, (714) 621-3011, Ext. 270, or (714) 984-9698.
Coin News
An eight-piece set of 1985 shekel coins (pictured) from Israel is being offered for $4.50 per set. These coins are the last with shekel denominations. Israel recently changed to the new shekel (equivalent to 1,000 old shekels). No more than 12,000 of these brilliant uncirculated shekel sets will be assembled. Place orders with the Israel Government Coins & Medals Corp., 350 5th Ave., New York, N.Y. 10118.
Ancient coins and antiquities will be auctioned by classical numismatist Joel L. Malter Nov. 30 in conjunction with the New York International Coin Convention. There will be 308 ancient coin lots, followed by 142 antiquity lots. Illustrated catalogues are available for $6 each from Joel L. Malter & Co., P.O. Box 777, Encino, Calif. 91316. Lots may be viewed until Wednesday at Malter’s gallery, 16661 Ventura Blvd., Suite 518, Encino.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.
