By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The United States Mint revived its dormant Proof program in 1936 and skilled regular development in gross sales from 3,837 in its relaunch 12 months to 21,120 in 1942. World Battle II pressured the Mint to place this system on hiatus once more, and from 1943 to 1949, no Proof Units had been issued.
In 1950, the Proof Set returned, however in contrast to the 1942 set, no coin bearing the likeness of Liberty was represented on America’s coinage. The 1950 set was the primary Proof Set to function designs bearing solely the likenesses of previous presidents and Founding Fathers. These included the Lincoln Wheat Cent, the Jefferson Nickel, the Roosevelt Dime, the Washington Quarter, and the Franklin Half Greenback. The dime, quarter, and half greenback had been struck in .900 positive silver.
Whereas it’s true that the Franklin Half is the star of the 1950 Proof Set, the opposite denominations are vital nonetheless, and the Lincoln Wheat Cent–probably the most popularly collected United States coin–as offered within the 1950 Proof Set is a vital problem for collectors of the Proof strikings.
As struck, the 1950 Lincoln Cent Proof is certainly one of if not the best-made coin within the set. The issue, nevertheless, is just not the strike high quality of the coin however the storage medium. Because the cellophane holders age, they break down and change into brittle. This chemical response, plus environmental publicity, causes most of the cash to stain and mellow.
Some examples even exhibit a level of satin end. The Mint didn’t intend to create two forms of Proof cents, however the overuse of dies between polishings made Proof impressions that didn’t have the mirror-like brilliance of earlier strikes. In our opinion, the satiny Proofs are much less fascinating than the totally good ones, and all are much less fascinating than examples with thick cameo distinction.
As of October 22, 2024, NGC has licensed 2,413 1950 Proof Lincoln Cents. From that quantity, 2,005 cash are in Proof Purple, 21.96% have been assigned the Cameo designation, and solely 3.77% are in Extremely Cameo.
By the identical interval, PCGS has licensed 2,615 1950 Proof Lincoln Cents. 1,909 are in Proof Purple, 15.33% have been assigned the Cameo designation, and solely 2.29% are in Deep Cameo. NGC and PCGS use barely completely different terminology to precise the identical idea.
CACG, a brand new grading service, has solely graded 5 1950 Proof Lincoln Cents.
The mixed licensed inhabitants of 1950 Proof Lincoln Cents from all three companies quantities to barely lower than 10% of the unique mintage. We estimate that a big portion of the ungraded examples fall beneath the coin’s terminal level, given current values and grading prices.
How A lot Is the 1950 Proof Lincoln Cent Value?
The worth of the 1950 Proof Lincoln Cent relies upon solely on its grade. At a minimal, one can count on to pay between $40 and $60 for a Selection (PR63) instance in Purple. Selection cash will exhibit some blemishes from improper storage or dealing with. Some could be enticing if these points aren’t too distinguished.
CoinWeek strongly advises collectors to buy solely licensed cash as non-professional sellers typically can’t distinguish between Proof cash and circulation strikes.
1950 Lincoln Cent Proofs with out Cameo are reasonably priced in grades as much as Proof 67. A sexy instance graded by NGC realized $152 in an eBay public sale that closed on April 7, 2024. Some Brown cash are price a glance, as rainbow-toned copper cash are sometimes designated as Brown when they’re, in reality, vibrant and colourful. An instance graded PCGS PR64BN with PQ colour bought for an affordable $200.06 on March 27, 2024.
Uncooked 1950 Proof Units are nonetheless out there, however most of those have been picked via, and the probability of buying authentic, unopened units, with out paying a premium value is extraordinarily low.
CoinWeek advises collectors in opposition to shopping for such units until there’s a truthful return coverage, or if the vendor is a identified seller with a very good status throughout the business.
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Market Knowledge and Noteworthy Specimens
Proof Lincoln Cents made for the reason that Nineteen Nineties aren’t tough to seek out in Proof 70, though that grade is not any certainty because the Lincoln Cent is probably the most tough coin denomination to seek out in “good” situation.
For the 1950 Lincoln Cent Proof, age, the strategies of manufacture, mint and collector dealing with, and storage media all performed a task within the degradation of the coin. They are often present in Brown, Purple Brown, and Purple, however most licensed examples are in Purple.
Cash designated Purple won’t typically have the unique brightness that the coin exhibited in 1950. Absolutely Purple cash may have copper recognizing, remoted patches of purple or reddish firming, or an total cognac hue.
Cash which might be brighter, redder, and freed from distracting blemishes will promote for considerably extra money at public sale.
Prime Inhabitants: PCGS PR67+DCAM (1, 10/2024), NGC PF68UCAM (2, 10/2024), and CAC PF67RD (0:1 stickered:graded, 10/2024).
- NGC PF68RD UCAM #6100383-001: GreatCollections, March 19, 2023, Lot 832964 – View.
- NGC PF68RD UCAM #3735218-003: As PCGS PR67RD DCAM #25668062. Heritage Auctions, October 29, 2015, Lot 3072 – $8,812.50; As NGC PF68UCAM #3735218-003. Heritage Auctions, August 2, 2017, Lot 3904 – $19,975. Crossed over and upgraded by one level. There’s a skinny diagonal hit on the beard and a cluster of specks to the proper of Lincoln’s brow. On the reverse, there’s a small copper spot to the fast proper of the left wheat stalk.
- NGC PF67+RD UCAM #3735218-001: “The Fairfax Assortment of U.S. Cash,” GreatCollections, April 12, 2020, Lot 817197 – View; GreatCollections, October 6, 2024, Lot 816561 – View.
- NGC PF67+RD UCAM #5865913-001: GreatCollections, June 18, 2023, Lot 1340278 – View.
- NGC PF67+RD UCAM #4673577-001: GreatCollections, October 25, 2020, Lot 895013 – View; GreatCollections, March 12, 2023, Lot 907346 – View.
- NGC PF67+RD UCAM #4631861-006: DLRC, Could 17, 2020, Lot 4070 – $3,450.
- NGC PF67+RD UCAM #4921145-001: GreatCollections, February 23, 2020, Lot 649495 – View.
- PCGS PR67+RD DCAM #380019390: Heritage Auctions, January 8, 2020, Lot 3265 – $13,800. There’s a planchet void within the left subject at 8 o’clock. The obverse subject has many small spots. There are three tiny ticks on Lincoln’s cheekbone—high pop when supplied.
- PCGS PR67RD DCAM #35137831: Heritage Auctions, April 23, 2020, Lot 3169 – $4,200. Lintmark touching the again of Lincoln’s head. Purple is mellowing to a cognac colour in areas—small round stains to the again of Lincoln’s head.
- PCGS PR67RD DCAM #81349953: Heritage Auctions, September 8, 2016, Lot 5390 – $8,225; Heritage Auctions, January 4, 2017, Lot 3377 – $5,170. Scattered chuffiness on the shoulder. Skinny diagonal scratch on cheekbone. Two diagonal marks on O of ONE. Round discoloration marks touching U of UNITED and above.
- NGC PF67RD UCAM #3644037-001: Heritage Auctions, September 8, 2016, Lot 5389 – $3,995.
- NGC PF67RD UCAM #2235303-001: Heritage Auctions, April 28, 2016, Lot 3895 – $5,875. There are scattered spots on the obverse. There’s a tick beneath the middle bar of E of CENT. There’s a copper spot to the left of the higher proper wheat.
- PCGS PR67RD DCAM #25630847: Heritage Auctions, March 4, 2016, Lot 4748 – $9,400.
- PCGS PR67RD DCAM #25207623: Heritage Auctions, April 23, 2015, Lot 4937 – $18,212.50. There’s a curved lintmark at 3:30 close to the rim. There’s a cluster of marks on Lincoln’s shoulder. Die traces and a “>” impression to the proper of the C of CENT.
- NGC PF67RD UCAM #1783369-001: Heritage Auctions, January 8, 2014, Lot 3625 – $5,140.63.
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Design
Obverse:
Designer Victor David Brenner’s portrait of the beloved former president Abraham Lincoln depicts the president from the shoulder up. Lincoln is wearing a interval swimsuit and is sporting a bow tie. Brenner’s initials V.D.B. seem in Lincoln’s shoulder truncation. On the high of the design, wrapping across the rim is the motto IN GOD WE TRUST. LIBERTY seems behind Lincoln’s neck, on the left aspect of the coin. The date 1929 seems barely decrease, in entrance of Lincoln’s portrait, on the coin’s proper aspect. Whereas Lincoln Cent mintmarks seem beneath the date, there is no such thing as a mark right here since this coin was struck in Philadelphia.
Reverse:
Brenner’s “Wheat Cent” reverse. Two sheaths of wheat wrap round the proper and the left aspect of the coin. On the high of the design, the motto E · PLURIBUS · UNUM wraps across the rim. The denomination ONE CENT is inscribed in massive letters, sans serif, the underside arm of the E extending past the arm on the high. The center arm is recessed. Beneath, in the identical font however in smaller kind, is the legend UNITED STATES OF AMERICA.
Edge:
The sting of the 1929 Lincoln Cent is easy or plain, with out reeding or edge lettering.
Designer
Victor David Brenner, born in Lithuania in 1871, immigrated to New York on the age of 19. The classically educated sculptor constructed a gaggle of purchasers, together with future president Theodore Roosevelt. Having beforehand created a medallion of Lincoln, Brenner was contracted by Roosevelt in 1908 to make use of certainly one of his earlier pictures of the sixteenth president for a brand new design of the cent. On the time of his dying, Brenner had carved over 125 medals, sculptures, and cash (View Designer’s Profile).
1950 Lincoln Cent Proof Coin Specs
| Nation: | United States of America |
| Yr of Concern: | 1950 |
| Denomination: | One Cent (USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | 51,386 |
| Alloy: | .950 Copper, .050 Zinc |
| Weight: | 3.11 g |
| Diameter: | 19.00 mm |
| Edge: | Plain |
| OBV Designer: | Victor David Brenner |
| REV Designer: | Victor David Brenner |
| High quality: | Proof |