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. To encourage congressional support for the new alloy, the Mint distributed several examples to [[US Congressman|US 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 [[US Capitol Police|US Capitol Police Officer]]. 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 U.S. Government 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|accessdate=2016-03-23|publisher=Fox 5 News San Diego}}</ref>