1974 aluminum cent: Difference between revisions

| Years of Minting = 1973 (dated 1974), 1974, 1975

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 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 workedwas Deputy Superintendent at the Mint in [[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 U.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 |accessdatedate = March 18, 2016 |access-03-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>

In late 1973, the price of copper on world markets rose to a point where the metallic value of the cent was almost equal to its [[face value]].<ref name=BowersRedBookLincoln>{{cite book |author-link = Q. David Bowers pg|last 246= Bowers |first = Q. David |title = Official Red Book A Guide Book of Lincoln Cents |publisher = [[Whitman Publishing]] |year = 2008 |isbn = 978-0-7948-2264-4 |page = 246 }}</ref><ref name=Judd319>{{cite book |author-link = J. Hewitt Judd pg|last1 319= Judd |first1 = J. Hewitt |last2 = Bowers |first2 = Q. David |last3 = Teichman |first3 = Saul |title = Official Red Book United States Pattern Coins: Complete Source for History, Rarity, and Values |publisher = Whitman Publishing |edition = 9th |year = 2005 |isbn = 978-0-7948-1823-4 |page = 319 }}</ref><ref name="coinagea">{{cite news |first = Tom |last = DeLorey |title = Certified: '74 Aluminum Cent |publisherwork = [[COINage (magazine)|COINage]] |page = 34 |date = November 2005 }}</ref> The U.S.US Mint, which produces billions of cents annually, was faced with a potentially catastrophic operating deficit, due to issues of [[seigniorage]]. As a result, the Mint tested alternate metals, including aluminum and [[bronze]]-clad steel.<ref name="USPatJ2151/P2084">{{cite web |url = http://uspatterns.com/p2084.html |title = J2151/P2084 |accessdate=2007-01access-date = January 24, 2007 |author = uspatterns.com |publisher = uspatterns.com |archive-url archiveurl= https://web.archive.org/web/20061213140831/http://www.uspatterns.com/p2084.html |archive-date archivedate= December 13, 2006 <!--DASHBot-->|url-status deadurl= nolive }}</ref> A composition of 96% aluminum (with [[trace element]]s for stability) was chosen.<ref name=BowersRedBookLincoln/><ref name="Judd285">{{harvp|Judd pg|Bowers|Teichman|2005|p= 285}}.</ref> The composition was chosen due to its longevity on [[coin die]] use, and aluminum's high resistance to [[tarnish]]ing.<ref name="NMAH">{{cite web |url = http://americanhistory.si.edu/coins/printable/coin3_01B.shtml |title = NMAH Legendary Coins & Currency: United States, 1 Cent, 1974 (Aluminum) |accessdateaccess-date = January 24, 2007-01-24 |workpublisher = [[Smithsonian (magazine)|Smithsonian]] [[National Museum of American History]]|publisher=Smithsonian National Museum of American History }}{{dead link|date=May 2016|bot=medic}}{{cbignore|bot=medic}}</ref> Although they were produced in 1973, they were struck using 1974 dated dies in anticipation of release into circulation in that year.<ref name=BowersRedBookLincoln/><ref name="USPatJ2151/P2084"/>

In an effort to gain acceptance for the new composition, the Mint distributed approximately three dozen examples to various members of the [[United States House Committee on Financial Services|House Banking and Currency Committee]] and the [[United States Senate Committee on Banking, Housing, and Urban Affairs|Senate Banking, Housing, and Urban Affairs Committee]]. Nine congressmen and four senators received examples, along with some Treasury officials.<ref name=BowersRedBookLincoln/> Additional specimens were given out by then Mint Director [[Mary Brooks]].<ref name=Judd285 /> Ultimately, the proposal was rejected in [[United States Congress|Congress]], due mainly to the efforts of the copper-mining and [[vending machine]] industries,<ref name="coinageb">{{cite news harvp|first=Tom |last=DeLorey |title=Certified: '74 Aluminum Cent 2005|publisherp=[[COINage (magazine)|COINage]] |page=35 |date=November 2005 }}.</ref> which felt the aluminum coins would jam machines and cause other mechanical problems.<ref name="ped">{{cite magazine |first1 = John P. |last1 = Dorst MD,|first2 = Thomas E. |last2 = Reichelderfer MD,|first3 and= Roger C. Sanders|last3 MA,= BM,Sanders BCh,|url MRCP,= FRCRP. [http://pediatrics.aappublications.org/cgi/content/abstract/69/2/224?ijkey=f7e7c79819e1b677d00096fed7116b46cc569845 |title = Radiodensity of the Proposed New Penny], |magazine = [[Pediatrics (journal)|Pediatrics]] Vol.|volume = 69 No.|date = February 2, 1982, pp.|pages = 224–225. Retrieved|access-date = April 17, 2008 |archive-04date = September 28, 2008 |archive-17url = https://web.archive.org/web/20080928115738/http://pediatrics.aappublications.org/cgi/content/abstract/69/2/224?ijkey=f7e7c79819e1b677d00096fed7116b46cc569845 |url-status = live }}</ref> Opposition also came from pediatricians and pediatric radiologists who pointed out if children ingested the aluminum pennies, they would be difficult to detect using [[X-ray]] imaging because the [[radiodensity]] of the metal inside the respiratory and gastrointestinal tracts was closesimilar to that of soft tissue, and therefore would be difficult to detect in X-ray imaging.<ref name="ped"/> In addition, the price of copper declined enough that making copper cents would again be economically viable, and, conversely, made hoarding pointless. The idea of changing the cent's composition of the cent wouldwas not be explored again until the 1980s., Inwhen, in 1982, the composition of the coin was changed to the current 99.2% [[zinc]] and 0.8% copper core alloy with a plating of pure copper, resulting in a 20% weight reduction.<ref name="RedBook60">{{cite book |last = Yeoman, Pg|first = R.S. |title = Official Red Book A Guide of United States Coins |publisher = Whitman Publishing |edition = 60th |year = 2007 |isbn = 978-0-7948-2039-8 |page = 119 }}</ref>

After the setback, the US Mint recalled the coins, but about 12<ref name="facts">{{cite web |url = http://www.coinfacts.com/small_cents/lincoln_cents/memorial_cents/1974_cent.htm |title = 1974 One Cent |accessdate=2006-12access-date = December 23, 2006 |archive-url archiveurl= https://web.archive.org/web/20070203161553/http://www.coinfacts.com/small_cents/lincoln_cents/memorial_cents/1974_cent.htm |archive-date archivedate= February 3, 2007 <!|url--DASHBot-->|status deadurl= nolive }}</ref> to 14<ref name=BowersRedBookLincoln/> aluminum cents were never returned to the mint. No oversight, record keeping, or statement that the coins had to be returned was made by the US Mint as examples were handed out.<ref name=BowersRedBookLincoln/> When the [[Federal Bureau of Investigation]] and other government law enforcement agencies were called in to investigate, however, some congressmen either feigned ignorance or completely denied getting examples.<ref name=BowersRedBookLincoln/> The coins, which are considered government property, have been subject to seizure by the [[United States Secret Service|Secret Service]],<ref>[{{cite web |url = http://financialservices.house.gov/media/pdf/071906bd.pdf |title = Exhibits of ''Coin World'' Articles] {{webarchive |archive-url = https://web.archive.org/web/20061228004516/http://financialservices.house.gov/media/pdf/071906bd.pdf |archive-date = December 28, 2006 }},|first Testimony of= Beth Deisher,|last Editor,= ''CoinDeisher World'',|publisher to= U.S. Congressional Subcommittee. URL|access-date accessed= January 1, 2007-01-01. ()}}</ref> although the legality of the cent is questioned by numismatists.<ref name=BowersRedBookLincoln/><ref name=Judd285 /> One aluminum cent was donated to the Smithsonian Institution for the [[National Numismatic Collection]].<ref name=BowersRedBookLincoln/><ref name="NMAH"/> Since no examples have been put up for public or known private sale,<ref>{{cite web |authorlast = Gibbs, |first = William T. |url = http://www.coinworld.com/news/032006/BW_0320.asp |title = Cents copper no more |publisher = [[Coin World]] |date = March 20, 2006 |access-date accessdate=2007-04- April 13, 2007 |archiveurlarchive-url = https://web.archive.org/web/20070928021128/http://www.coinworld.com/news/032006/BW_0320.asp |archivedatearchive-date = September 28, 2007 }}</ref> it has been difficult to estimate their value.{{citation needed|date=March 2015}}

While there are no Mint records of the 1974-D aluminum cent being struck at the Denver Mint, in an interview with ''[[Coin World]]'', Benito Martinez, a die setter at the Denver Mint in 1974, stated he struck fewer than 12 of the experimental 1974-D Lincoln cents under the supervision of Harry Bobay, a Denver Mint production foreman. The strikes were made using regular production dies on aluminum blanks supplied from the Philadelphia Mint.<ref>{{Cite web |url = http://www.coinworld.com/news/us-coins/2015/04/federal-judge-rules-against-government-in-1974-d-aluminum-cent-c.html |title = California federal judge rules against government in 1974-D aluminum cent case |last = Roach |first = Steve |date = April 3, 2015 |website = Coin World |publisher = Amos Media Company |access-date = May 28, 2016 |archive-date = August 7, 2016 |archive-url = https://web.archive.org/web/20160807123802/http://www.coinworld.com/news/us-coins/2015/04/federal-judge-rules-against-government-in-1974-d-aluminum-cent-c.html |url-status = live }}</ref><ref>{{Cite web |url = http://www.coinworld.com/news/us-coins/2014/06/Mint-asks-court-to-dismiss-1974-D-cent-suit.html |title = Mint asks court to dismiss 1974-D cent suit, contends aluminum striking was unauthorized |last = Roach |first = Steve |date = June 6, 2014 |website = Coin World|publisher=Amos Media Company|access-date = May 28, 2016 |archive-date = August 7, 2016 |archive-url = https://web.archive.org/web/20160807123903/http://www.coinworld.com/news/us-coins/2014/06/Mint-asks-court-to-dismiss-1974-D-cent-suit.html |url-status = live }}</ref>

The coin is considered by a few [[Numismatics#Numismatists|numismatists]] not as a ''[[pattern coin]]'', but rather a ''rejected or cancelledcanceled regular issue'', despite being listed in pattern books.<ref name="USPatJ2151/P2084"/>

In the February 20, 2001, edition of ''[[Numismatic News]]'', Alan Herbert reported the existence of an aluminum cent. It was attributed to [[US Capitol Police]] Officer Albert Toven, who had found the coin dropped by an unnamed [[US Congressman]] on the floor of the [[Rayburn Office Building]]. When the officer attempted to return the coin to the congressman, thinking it was a [[Dime (United States coin)|dime]], the congressman told him to keep it.<ref name=BowersRedBookLincoln/><ref name="ccorg">{{cite web |url = http://coincollector.org/archives/002708.html |title = 1974 Aluminum Cent Discovered |accessdateaccess-date = January 24, 2007 |author = coincollector.org |publisherwork =coincollector CoinCollector.org |date = July 20, 2005 |archive-url archiveurl= https://web.archive.org/web/20070112082957/http://coincollector.org/archives/002708.html |archive-date archivedate= January 12, 2007 <!--DASHBot-->|url-status deadurl= nolive }}</ref> This example was [[Coin grading|graded]] and certified by the Independent Coin Grading Company as “About"About Uncirculated-58”58" in 2005, but later certified as Mint State 62 two months later by the [[Professional Coin Grading Service]].<ref name=BowersRedBookLincoln/><ref name="USPatJ2151/P2084"/><ref name=Judd285 /><ref name="ccorg"/><ref name="AlSlab">{{cite web |url = http://www.collect.com/interest/article.asp?id=14406 |title = Aluminum cent slabbed |accessdateaccess-date = February 17, 2007 |authorlast =Her bert,Herbert |first = Alan |publisherwork =collect Collect.com |date = July 12, 2005 |archiveurlarchive-url = https://web.archive.org/web/20061024101307/http://www.collect.com/interest/article.asp?id=14406 |archivedatearchive-date = October 24, 2006 }}</ref>

In January 2014, [[San Diego]] resident Randy Lawrence discovered the only specimen of thea 1974-D aluminum cent currently known to exist. The coin had been in the possession of his father, Harry Edmond Lawrence, a former deputy superintendent of the [[Denver Mint]], who kept it in a [[Zipper storage bag|sandwich bag]] along with other coins. Lawrence brought the coin to [[La Jolla]] coin dealer Michael McConnell, who estimated its value at a minimum of [[United States dollar|US$]]250,000, up to $2 million or possibly more. On January 28, 2014, PCGS announced that it had certified the coin as authentic with the grade PCGS MS63 and certification number 28544237.<ref>{{Cite web |url = http://www.pcgs.com/news/pcgs-certifies-first-confirmed-1974d-aluminum-cent |title = PCGS Certifies First Confirmed 1974-D Aluminum Lincoln Cent! |last = |first = |date = January 28, 2014|website=PCGS |publisher =PCGS Professional Coin Grading Services |access-date = May 28, 2016 |archive-date = June 1, 2016 |archive-url = https://web.archive.org/web/20160601183604/http://www.pcgs.com/news/pcgs-certifies-first-confirmed-1974d-aluminum-cent |url-status = live }}</ref> Lawrence and McConnell planned to auction the coin in April 2014 after it toured the United States and split the proceeds; Lawrence planned to donate as much as $100,000 of his share to homeless programs.<ref name="KFMB">{{cite web |url = http://www.cbs8.com/story/24595421/rare-coin-fetches-local-man-a-pretty-penny |title = Rare coin fetches local man a pretty penny |accessdateaccess-date = February 6, 2014 |authorlast = Price, |first = Steve |publisher = [[KFMB-TV]] |date = January 30, 2014 |archiveurlarchive-url = https://web.archive.org/web/20140207043524/http://www.cbs8.com/story/24595421/rare-coin-fetches-local-man-a-pretty-penny |archivedatearchive-date = February 7, 2014 }}</ref> However, the coin had to be withdrawn from the auction pending the outcome of a request by the [[United States Mint]] to return the coin.<ref>{{cite news |first = Dana |last = Littlefield, [|url = http://www.utsandiego.com/news/2014/Apr/08/penny-aluminum-government-auction-rare-coin/ |archive-url = https://archive.istoday/20140805041134/http://www.utsandiego.com/news/2014/Apr/08/penny-aluminum-government-auction-rare-coin/ "|archive-date = August 5, 2014 |title = Government wants its rare penny back"], ''|work = San Diego Union-Tribune'', |date = April 8, 2014 }}</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 U.S.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 U.S.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 |websitevia =governmentattic GovernmentAttic.org| |publisher =US United States Mint |accessdateaccess-date =17 December 17, 2018 |date =6 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>

* 66 Aluminumaluminum cents made in 1975 as trial strikings.<ref name="USPat2155">{{cite web |url = http://uspatterns.com/j2155.html |title = J2155 |accessdateaccess-date = January 24, 2007 |author = uspatterns.com |publisher = uspatterns.com |archive-url archiveurl= https://web.archive.org/web/20061213135905/http://www.uspatterns.com/j2155.html |archive-date archivedate= December 13, 2006 <!|url--DASHBot-->|status deadurl= nolive }}</ref><ref>{{harvp|Judd pg|Bowers|Teichman|2005|p= 286}}.</ref>

*At least 1 example of an [[1942 experimental cents|aluminum Lincoln Wheat cent]] struck in 1942 to test a possible alternative composition to bronze for the [[1943 steel cent|following year]]. Unlike the 1974–75 aluminum cents, this coin appears to be legal to possess and was sold at [[Heritage Auctions]] in May 2009.<ref>{{Cite web |url = https://www.pcgs.com/coinfacts/coin/1942-1c-j-2079-lincoln-aluminum/396884 |title = 1942 1C J-2079 Lincoln Aluminum (Special Strike) Patterns -|work = PCGS CoinFacts |websitepublisher =PCGS Professional Coin Grading Services |access-date = February 14, 2019 |archive-02-date = February 14, 2019 |archive-url = https://web.archive.org/web/20190214233423/https://www.pcgs.com/coinfacts/coin/1942-1c-j-2079-lincoln-aluminum/396884 |url-status = live }}</ref><ref>{{Cite web |url = http://www.uspatterns.com/p2077.html |title = J2081/P2077 |website = www.uspatterns.com |access-date = August 19, 2019 |archive-08-date = August 19, 2019 |archive-url = https://web.archive.org/web/20190819215049/http://www.uspatterns.com/p2077.html |url-status = live }}</ref><ref>{{Cite web|url=https://coins.ha.com/itm/patterns/1942-1c-cent-judd-2079-pollock-2076-r8-pr66-pcgs/a/1125-1448.s|title=1942 1C Cent, Judd-2079, Pollock-2076, R.8, PR66 PCGS.... Patterns {{!}} Lot #1448|website=Heritage Auctions|language=en|access-date=August 19, 2019|archive-08-date=August 19, 2019|archive-url=https://web.archive.org/web/20190819215046/https://coins.ha.com/itm/patterns/1942-1c-cent-judd-2079-pollock-2076-r8-pr66-pcgs/a/1125-1448.s|url-status=live}}</ref>

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

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