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Coins that made the States ‘great’
Two weeks since America went to the polls, the history of its coinage is as rich and as varied as that of its presidents. Discover why I believe these are 12 of the United States most iconic coins of the last 150 years …
1. Indian Head Cent (1859 – 1909) – the first coin of America’s single currency issued surprisingly late in 1859. The cent in circulation today is still the same size and the design has only changed once in over 150 years
2. Two Cent Piece (1864 – 1873) – the first coin to bear the inscription ‘In God We Trust’ which became the US’s official motto in 1956 and now appears on most of America’s coins
3. Morgan Silver Dollar (1878 – 1921) – arguably the most famous American coin ever despite the fact it was designed by an Englishman born in Birmingham – Mr George T. Morgan
From top to bottom:
The Columbian Half Dollar
The Lincoln Cent
The Buffalo Nickel
4. Columbian Half Dollar (1892 – 1893) – America’s first ever commemorative coin issued to raise money for Chicago’s Columbian Exposition in 1893. Design marks 400th
anniversary of Columbus’ arrival in the New World in 1492
5. Lincoln Cent (1909 – 1958) – first introduced in 1909 in honour of the 100th anniversary of Lincoln’s birth and became famous as the first US coin to feature a recognisable public figure
6. Buffalo Nickel (1913 – 1938) – underwent a design change in 1913 but during the Great Depression (1929-39) many coins were hoarded making them incredibly sought-after today
7. Standing Liberty Quarter (1916 – 1930) – caused outrage when it was first minted as the designer depicted an exposed breast of the Broadway actress who modelled as Lady Liberty as part of the design. Such was the uproar, the US Mint changed the design in 1917
8. Mercury Dime (1916 – 1945) – so-called because the design was mistaken for Mercury, the messenger of the Greek gods, when it was in fact a young Liberty with a winged helmet. The name has stuck in almost 100 years
From top to bottom:
The Standing Liberty Quarter
The Mercury Dime
The Walking Liberty Half Dollar
9. Walking Liberty Half Dollar (1916 – 1947) – often thought of as America’s most beautiful coin due to Adolph A. Weinman’s exquisite design which was later used on the ‘Eagle’ Silver Bullion coins
10. Lincoln Steel Cent (1943 only) – to preserve Copper reserves during WWII, in 1943 the Lincoln Cent was struck in zinc-plated steel but problems such as rusting saw a return to copper the following year
11. Kennedy Half Dollar (1964 – present) – in circulation by 1964 just months after the President’s assassination but the high silver content led to extensive hoarding and by 1971 was eliminated completely
12. Delaware State Quarter (1999 only) – the first in a remarkable series of coins designed to boost Americans’ interest in numismatics. ‘Delaware’ was the first specially themed ‘State’ quarter and sparked the collecting phenomenon of the decade
Are we missing something?
Is there another American coin that you think should be part of this list?
The Penny Drops
Over 150 years since it was introduced, in a dramatic move, the Canada Government has announced plans to discontinue its one-cent coin – known colloquially as the penny – after revealing it has become too expensive to produce and ‘ worthless’ as a currency.
The last Canadian Penny ever struck
“No currency as a currency”
Inflation has eroded the penny’s purchasing power by around 95% over the years, and the price of the copper has risen more than 330% since 2000 so each cent costs around 1.6 cents to produce. Scrapping the penny will save an estimated $11million Canadian dollars (£6.9 million) a year according to the Canadian Government.
Canadian Finance Minister Jim Flaherty explains, “The time has come to make the sensible decision to end production of the coin which is underused by Canadians, no longer vital to commerce and ultimately a burden on Canada’s balance sheet.”
Phasing out the penny
It’s estimated there are upwards of 20 billion pennies in circulation which they will remain legal tender but become largely redundant over time. Companies and retailers have already been told to begin rounding up or down to the nearest nickel (five cents).
55% of Canadians agree
A recent poll suggested over half of Canadian are in favour of ditching the penny. It’s hoped that phasing out the penny will not have any detrimental effect on inflation. Similar systems implemented in Australia and New Zealand have caused no major problems.
Pennies themselves will continue to hold their cash value, so Canadians can always trade them in at banks, who can then return them for recycling into their original metals.
The changing face of the coin world
The loss of the coin is a blow to world coin collectors everywhere, but that loss is part of what makes the world coin collecting so interesting – designs change, new coins come into existence and some coins will inevitably disappear.
Never forget. The $20 Silver ‘Tribute to the Penny’ Coin – now available from The Westminster Collection
To mark the end of an era, the Royal Canadian Mint has produced a range of commemoratives, which include the
Silver $20 ‘Tribute to the Penny’ and a Set of five Canadian one cent coins also in pure silver.
Click here for details about five British sought-after pennies…
What would you do with the Gold Sovereign?
We’re just a few weeks away from the Royal Mint releasing the details of the new 2013 Gold Sovereign – but what will they do for 2013 – 60th Anniversary of the Coronation Year?
The 2012 Gold Sovereign featured a new one-year-only St George & the Dragon design to celebrate the Diamond Jubilee.
This year has seen one of the most popular years ever for the Gold Sovereign with the Proof Coin and key sets selling out in little more than a few weeks.
But what was the cause? The fact it was Diamond Jubilee Year? The new one-year-only St George & the Dragon design?
All Change for 2013?
And, more importantly, what should the Royal Mint do this year? Return to the classic Benedetto Pistrucci’s classic St. George & the Dragon or create a new design to celebrate the Coronation Anniversary?
Have your say below…