Liberty Mistaken for Indian

June 29th, 2010
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As a result of striking weakness experienced for the Flying Eagle small cents introduced in 1856, a new new design was requested by the Mint Director. James B. Longacre would create the new design, which was put into use on January 1, 1859.

The coin design which is known today as the Indian Head Cent did not actually depict an Indian (Native American). Close examination will reveal that the face is that of a white female, actually intended to be a depiction of Liberty. Liberty is shown wearing a Native American headdress, which lead to the early and continued identification of the series.

The model for the obverse is rumored to be James B. Longacre’s daughter, Sarah Longacre Keen. The story goes that her father sketched her while she was playing with a toy warbonnet. This story has never been confirmed with US Mint records, although it remains a commonly recounted anecdote about the design for the series series of small cents.

The Indian Head Cent was struck from 1859 to 1909 with a change to the reverse design and composition taking place during the series. The most difficult coin to acquire for collectors will be the 1877 Indian Head Cent, which had a mintage of 852,500 pieces.

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A Half Dollar Saved is a Half Dollar Earned

February 25th, 2010
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As one of the most famous Founding Fathers, Benjamin Franklin was an appropriate choice to appear on the half dollar denomination when it was redesigned in 1948. The Director of the Mint at the time was Nellie Tayloe Ross. She had considered Franklin for depiction on a coin ever since she saw John R. Sinnock’s medal depicting the important author, inventor, scientist, and diplomat.

During a speech for the release of the new half dollar, the Mint Director had stated that many people urged Franklin’s depiction on the one cent coin. This was due to his famous quote “a penny saved is a penny earned.” The honor of appearing on the most heavily produced coin was currently with Abraham Lincoln who had appeared there since 1909. The Mint Director explained that the size and nature of the half dollar would be an even more impressive way to honor Franklin.

The Franklin Half Dollar was minted each year from 1948 to 1963. Although the duration of the series was short, it remains collected widely by date and mint mark, and by specialists looking for sharply struck “full bell lines” examples.

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Five Cent Denomination in New Composition

January 12th, 2010
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The Coinage Act of April 2, 1792 both established the United States Mint and provided authorization for a specific set of coins. The coin valued at five cents was the “half disme” or “half dime” with primary composition of silver. It wasn’t until the introduction of the Shield Nickel, that the five cent denomination would take on its family composition and name.

The Act of May 16, 1866 authorized the minting of a 5 cent coin with the same composition of the nickel three cent piece. This would consist of 75% copper and 25% nickel. The first Shield Nickels were produced in 1866, with production continuing until the series was replaced by the Liberty Nickel in 1883. This series represents an important shift in coinage as the half dime struck in silver was put to an end after 1873.

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