1944 1C Steel, MS
1944 1C Struck on a Zinc-Coated Steel Planchet MS64 PCGS. In an effort to preserve copper for the war effort, the United States Mint struck Lincoln cents on zinc-coated steel planchets in 1943, creating the famous "steel" cents that all collectors of the series are familiar with. Some extremely rare cents were accidentally struck on leftover bronze planchets at all three U.S. Mints in 1943, creating the legendary 1943 "copper" cents, perhaps the most famous and sought-after mint errors in U.S. numismatic history. The phenomenon repeated itself in reverse the following year, when the Mint switched back to the familiar bronze planchets that were made from recycled shell casings. Again, a few specimens were accidentally struck on leftover "steel" planchets from the previous year, which are believed to have been stuck in the lids of the tote bins used to feed blank planchets into the coin presses during the striking process. These leftover zinc-coated steel planchets apparently were dislodged when the bins were refilled with bronze planchets in 1944 and struck as part of the regular production run. Alternatively, it is possible some 1944 "steel" cents were struck on planchets intended for the production of Belgian two-franc pieces, which were struck on contract by the U.S. Mint in 1944. This foreign coinage was deliberately designed to use up the remaining 25 million zinc-coated steel planchets leftover from the Lincoln cent production of the previous year. Though not as well known as the 1943 "copper" cents, the 1944 transitional alloy error "steel" cents are sought-after rarities today. NGC has certified only four 1944 "steel" cents, all in AU grades, while PCGS has graded 11 examples, three in AU and eight in Mint State, but none finer than MS64 (3/24). PCGS CoinFacts estimates 25-30 examples are extant, but many are not graded because of corrosion, to which this alloy was especially vulnerable. The record price realized for the issue belongs to the MS64 PCGS example in lot 3043 of the U.S. Coins Signature Auction (Heritage, 6/2021), which realized $180,000. The present coin is a spectacular Choice example that exhibits a better than average strike for the issue, which is always seen with some softness on the high points of the devices. The coin presses' pressure settings were high enough to strike the softer bronze planchets intended for regular production, but they were inadequate to fully bring up the details on the harder "steel" planchets. The well-preserved brilliant surfaces are free of mentionable contact marks, but some scattered alloy spots are evident on both sides. This coin is tied with three other specimens at PCGS for finest-certified honors. We expect intense competition from series specialists, error collectors, and Registry Set enthusiasts when this lot is called. Population: 4 in 64, 0 finer (3/24). HID10510052018 © 2024 Heritage Auctions | All Rights Reserved
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1944 1C Struck on a Zinc-Coated Steel Planchet MS64 PCGS. In an effort to preserve copper for the war effort, the United States Mint struck Lincoln cents on zinc-coated steel planchets in 1943, creating the famous "steel" cents that all collectors of the series are familiar with. Some extremely rare cents were accidentally struck on leftover bronze planchets at all three U.S. Mints in 1943, creating the legendary 1943 "copper" cents, perhaps the most famous and sought-after mint errors in U.S. numismatic history. The phenomenon repeated itself in reverse the following year, when the Mint switched back to the familiar bronze planchets that were made from recycled shell casings. Again, a few specimens were accidentally struck on leftover "steel" planchets from the previous year, which are believed to have been stuck in the lids of the tote bins used to feed blank planchets into the coin presses during the striking process. These leftover zinc-coated steel planchets apparently were dislodged when the bins were refilled with bronze planchets in 1944 and struck as part of the regular production run. Alternatively, it is possible some 1944 "steel" cents were struck on planchets intended for the production of Belgian two-franc pieces, which were struck on contract by the U.S. Mint in 1944. This foreign coinage was deliberately designed to use up the remaining 25 million zinc-coated steel planchets leftover from the Lincoln cent production of the previous year. Though not as well known as the 1943 "copper" cents, the 1944 transitional alloy error "steel" cents are sought-after rarities today. NGC has certified only four 1944 "steel" cents, all in AU grades, while PCGS has graded 11 examples, three in AU and eight in Mint State, but none finer than MS64 (3/24). PCGS CoinFacts estimates 25-30 examples are extant, but many are not graded because of corrosion, to which this alloy was especially vulnerable. The record price realized for the issue belongs to the MS64 PCGS example in lot 3043 of the U.S. Coins Signature Auction (Heritage, 6/2021), which realized $180,000. The present coin is a spectacular Choice example that exhibits a better than average strike for the issue, which is always seen with some softness on the high points of the devices. The coin presses' pressure settings were high enough to strike the softer bronze planchets intended for regular production, but they were inadequate to fully bring up the details on the harder "steel" planchets. The well-preserved brilliant surfaces are free of mentionable contact marks, but some scattered alloy spots are evident on both sides. This coin is tied with three other specimens at PCGS for finest-certified honors. We expect intense competition from series specialists, error collectors, and Registry Set enthusiasts when this lot is called. Population: 4 in 64, 0 finer (3/24). HID10510052018 © 2024 Heritage Auctions | All Rights Reserved
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