1974 aluminum cent: Difference between revisions

The '''1974 aluminum cent''' was a [[Cent (United States coin)|one-cent coin]] proposed by the [[United States Mint]] in 1973. It was composed of an [[alloy]] of [[aluminum]] and trace metals, and it was intended to replace the predominantly copper–[[zinc]] cent due to the [[Seigniorage|rising costs of coin production]] in the traditional [[bronze]] alloy. Of the 1,571,167 coins struck in anticipation of release, none were released into circulation.<ref>{{cite book |url=https://books.google.com/books?id=k1M_Y5H392gC&pg=PA70 |page=70 |title=Coin and Currency Issues Facing Congress: Can We Still Afford Money? : Hearing Before the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology of the Committee on Financial Services, U.S. House of Representatives, One Hundred Ninth Congress, Second Session, 19 July 2006 |year=2007 |publisher=U.S. Government Printing Office |volume=4|isbn=9780160781421 }}</ref> To encourage congressional support for the new alloy, the Mint distributed several examples to [[US Congressman|USU.S. Congressmen]]. When the proposed aluminum cent was rejected, the Mint recalled and destroyed those coins.

However, despite the recall, a few aluminum cents were not returned to the Mint, and those coins may remain at large. One example was donated to the [[Smithsonian Institution]], while another was alleged to have been found by Albert P. Toven, a [[USUnited States Capitol Police|US]] CapitolOfficer PoliceAlbert Officer]]P. Toven. A 1974-D specimen was found in January 2014 by Randall Lawrence, who said it was a retirement gift to his father, Harry Edmond Lawrence, who was Deputy Superintendent at the [[Denver Mint]]. Randall planned on selling it in a public auction, but the Mint demanded its return, saying that the coin was never authorized for release and therefore remains USU.S. Governmentgovernment property. Lawrence (and his business partner at their coin store, Michael McConnell) ultimately surrendered the coin when the Mint showed that the aluminum cent had never been authorized to be struck in Denver, and there was no evidence that the coin had been a gift of any kind.<ref name="Fox5 SanDiego News">{{cite web |url = http://fox5sandiego.com/2016/03/17/san-diego-man-returns-rare-aluminum-penny-to-u-s-mint/ |title = San Diego Man Returns Rare Aluminum Penny Worth Up To $2M To U. S. Mint |date = March 18, 2016 |access-date = March 23, 2016 |publisher = Fox 5 News San Diego |archive-date = March 22, 2016 |archive-url = https://web.archive.org/web/20160322212148/http://fox5sandiego.com/2016/03/17/san-diego-man-returns-rare-aluminum-penny-to-u-s-mint/ |url-status = live }}</ref>

The case proceeded after Judge William Q. Hayes denied the government's [[Motion (legal)#To dismiss|motion to dismiss]] on March 26, 2015, stating: “it"it is plausible that a Mint official, with proper authority and in an authorized manner, allowed Harry Lawrence to keep the 1974-D aluminum cent. Drawing reasonable inferences, it is plausible that Harry Lawrence lawfully obtained possession of the aluminum cent, giving Plaintiffs superior claim of title to the aluminum cent.”"<ref>{{Cite web |url = http://www.leagle.com/decision/In%20FDCO%2020150330924/Lawrence%20v.%20United%20States%20Department%20of%20the%20Treasury |title = LAWRENCE v. UNITED STATES DEPARTMENT OF THE TREASURY -– Case No. 14cv594-WQH-NLS. |last = Hayes |first = William Q. |date = March 26, 2015 |website = Leagle, Inc. |publisher = United States District Court, S.D. California |access-date = May 28, 2016 |archive-date = August 12, 2016 |archive-url = https://web.archive.org/web/20160812234755/http://www.leagle.com/decision/In%20FDCO%2020150330924/Lawrence%20v.%20United%20States%20Department%20of%20the%20Treasury |url-status = live }}</ref> On March 17, 2016, Lawrence and McConnell surrendered the penny to the US Mint to settle the terms of their lawsuit which was dropped. The Mint has reported their intention to display the penny as a part of US Mint history. A 1974-D is stored at the [[United States Bullion Depository]].<ref>{{cite web |title = FOIA Request #2017-09-205 |url = https://www.governmentattic.org/30docs/VisitBullionDepositFtKnox_2017.pdf |via = GovernmentAttic.org |publisher = United States Mint |access-date = December 17, 2018 |date = April 6, 2018 |archive-date = December 17, 2018 |archive-url = https://web.archive.org/web/20181217185404/https://www.governmentattic.org/30docs/VisitBullionDepositFtKnox_2017.pdf |url-status = live }}</ref>

* Nonsense description trialTrial strikings of various compositions.<ref name=BowersRedBookLincoln/>

[[Category:Abraham Lincoln inon artUnited States currency]]