The 1974 Lincoln Memorial Cent is a fascinating piece of American coin history, representing a period of significant change and experimentation at the United States Mint.
Let’s dive into the key highlights of this coin and what makes it special for collectors.
A Historic Year for Coins
In 1974, the U.S. Mint was preparing for the nation’s upcoming Bicentennial celebrations. Amid this preparation, the Mint focused on high-demand coins like the Lincoln Cent.
Production increased significantly, with Philadelphia reporting over 4.2 billion cents minted that year, including 128.9 million produced at the West Point Bullion Depository. However, these West Point coins were not marked with a mintmark, making them indistinguishable from those minted in Philadelphia.
Challenges with Copper Prices
The rising cost of copper in the early 1970s created challenges for coin production. Between 1969 and 1974, copper prices increased dramatically, peaking at 86 cents per pound in 1974.
To combat this issue, the Mint tested a new composition for the cent, creating coins with a 96% aluminum alloy instead of the traditional bronze. Approximately 1.5 million aluminum cents were struck in 1973 and reviewed by Congress.
However, due to opposition from the vending industry, these coins were never released, and the bronze composition remained in use.
Rarity and Value
For most 1974 Lincoln Cents, their value in circulated condition remains low. However, uncirculated coins with a “Red” finish (MS65 or higher) can be worth $10–$30, with even higher premiums for exceptional grades.
A rare MS68 “Red” cent sold for thousands of dollars, making it highly sought after by collectors.
The elusive aluminum cent, with only two known examples, is considered priceless. One is housed in the Smithsonian Institution, while the other is privately owned, carrying a complex legal status.
Design Details
The 1974 Lincoln Cent maintained its classic design:
- Obverse: Designed by Victor David Brenner, featuring President Abraham Lincoln with the motto “IN GOD WE TRUST” above.
- Reverse: Designed by Frank Gasparro, showcasing the Lincoln Memorial, with “E PLURIBUS UNUM” and “UNITED STATES OF AMERICA” inscribed above.
The coin’s edge is smooth, and it weighs 3.11 grams with a diameter of 19 mm.
Key Specifications of the 1974 Lincoln Memorial Cent
| Feature | Details |
|---|---|
| Country | United States of America |
| Denomination | One Cent |
| Composition | 95% copper, 5% tin and zinc |
| Weight | 3.11 g |
| Diameter | 19.00 mm |
| Edge | Plain |
| Obverse Designer | Victor David Brenner |
| Reverse Designer | Frank Gasparro |
| Mintage | 4,232,140,523 (including 128.9M at West Point) |
The 1974 Lincoln Memorial Cent is more than just a coin; it’s a testament to a fascinating period in U.S. history when innovation and tradition intersected. For collectors, it offers both affordable options and rare treasures to seek out.
Editorial Note: This article was created through automated technology, with all details verified and polished by our editorial expert.