By Charles Morgan and Hubert Walker for CoinWeek Notes …..
Lincoln Cents had been in brief provide because the United States entered its second yr of conflict in Europe. Elevated wartime financial exercise drove up demand for circulating coinage, leading to bigger mintages. The greater than 288 million cents produced on the Philadelphia Mint in 1918–the most important mintage within the collection as much as that time–had been pretty well-struck and may nonetheless be present in circulation greater than a century after their issuance.
The United States Mint’s 1918 Annual Report defined the elevated manufacturing:
“The unprecedented demand for fractional coin is likely as a result of conflict actions – normal acceleration of enterprise transactions requiring extra frequent settlements; bigger earnings of the individuals, leading to extra expenditures; calls for of camp actions, and so forth. Inner income taxes on amusement entrance charges and on quite a few different providers in addition to elevated avenue automotive fares and additions to different costs, required many 1-cent items.”
Nonetheless, the 1918 Lincoln Cent is notable for greater than its massive mintage and the historic backdrop towards which they had been struck. The initials of the coin’s designer, sculptor Victor David Brenner, had been eliminated in mid-1909 however now reappeared on this concern. Brenner, a Litvak or Lithuanian Jew, emigrated to America in 1890 and by the primary decade of the twentieth century was established as a profitable artist. The New York Instances dubbed him “the main medalist in America” in 1904.
Many observers, together with Mint officers, felt that Brenner’s initials had been too massive and their placement too outstanding, prompting Secretary of the Treasury Franklin MacVeagh to get them organized eliminated after the brand new cent had entered manufacturing, ensuing within the in style 1909 V.D.B. collectible subtype.
Various numismatists spoke up on Brenner’s behalf. Farran Zerbe, President of the American Numismatic Affiliation (ANA) from when the controversy unfolded, wrote: “Within the elimination of the marks to determine the designer of the Lincoln cent an excellent injustice has been executed [sic] sculptor-artist Victor D. Brenner.” Members of the New York Numismatic Membership wrote to MacVeagh on Brenner’s behalf in 1909, arguing that “putting the initials of the designer upon a coin is a time-honored customized,” and implored the Secretary to revive his initials.
The dying of Charles Barber, Chief Engraver of the U.S. Mint, could have paved the way in which for the restoration of Brenner’s initials. On the peak of the controversy surrounding his initials, Brenner and Mint officers had proposed shortening the offending initials to a easy “B”. In response to David Lange in his Full Information to Lincoln Cents (2005), this “didn’t sit properly” with Barber, whose initials had been rendered equally on the cash he designed. “It was nearly definitely no mere coincidence that the restoration of Brenner’s initials to his coin occurred within the yr following Barber’s dying,” Lange writes. VDB returned to the cent, positioned on the truncation of Lincoln’s bust on the obverse, in 1918.
The return of Brenner’s initials was not met with a lot fanfare; Farran Zerbe didn’t discover the restoration till 1922.
How A lot Is the 1918 Lincoln Cent Price?
The 1918 Lincoln Cent’s large mintage interprets into a big surviving inhabitants. On the time of writing, PCGS information 336 grading occasions for Brown Lincoln Cents, 644 Purple and Brown, and 899 in Purple. NGC information fewer grading occasions: 185 Brown, 365 Purple and Brown, and 193 Purple. Examples within the best grades are elusive and costly, however most Mint State cash are inexpensive – particularly Brown or Purple and Brown examples.
Sufficient 1918 Lincoln Cents had been struck that closely worn examples can nonetheless be present in circulation or rolls. Circulated examples could be purchased for a greenback or much less from nearly any coin supplier.
Examples in decrease Mint State Brown and Purple Brown grades repeatedly promote for lower than $50, whereas absolutely Purple examples in low-to-mid Mint State grades promote for between $50 and $500. Values cross the $1,000 threshold in MS66 to 66+. One grading occasion for an MS68 instance is recorded by PCGS; 4 cash are recorded in MS67 holders from NGC. These cash routinely promote for 1000’s or tens of 1000’s of {dollars}.
The file public sale worth for a 1918 Lincoln Cent ($55,200) was realized on April 5, 2022, for a coin licensed MS68 Purple by PCGS.
Strike high quality for 1918 Lincoln Cents is pretty good, although many examples exhibit some die put on. Examine for carbon spots, which can seem on some cash. Lange claims that the 1918 “appears extra inclined than most to disagreeable recognizing on in any other case alternative and gem cash.”
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1918 Lincoln Cent Market Knowledge and Noteworthy Specimens
The 1918 Lincoln Cent is scarcer in excessive grades than the 1916, the 1917, and the 1919 Philadelphia Lincoln Cents. In Mint State Red, nonetheless, it’s extra widespread than both the 1918-D or the 1918-S, that are scarce; the 1918-S is unknown in grades above MS65+RD.
PCGS’ MS68RD inhabitants was one in June 2004. At the moment, the PCGS MS67RD inhabitants was eight. By 2010, the PCGS MS67RD inhabitants sat at simply 9. The licensed inhabitants of MS67RD cash have elevated practically four-fold since. The inhabitants in MS68RD as of December 2024 is now three – up one since 2023.
NGC has graded simply over 200 examples of the problem in all Mint State Purple grades, with solely 4 examples in MS67RD on the prime of their census.
Prime Inhabitants: PCGS MS68RD (3, 12/2024), NGC MS67RD (4, 12/2024), and CAC MS68RD (1:0 stickered:graded, 12/2024).
- PCGS MS68RD #49209556: As PCGS MS67+RD CAC #46215100. GreatCollections, April 2, 2023, Lot 1340034 – $16,322.62. As PCGS MS68RD #4795000. Heritage Auctions, July 20, 2023, Lot 3018 – $78,000. As PCGS MS68RD #49209556. “The Whispering Pines Assortment,” Heritage Auctions, January 15, 2025, Lot TBD – View.
- PCGS MS68RD CMQ #48374151: Stack’s Bowers, March 26, 2024, Lot 4023 – $31,200.
- PCGS MS68RD CAC #9726591: “Stewart Blay’s Purple Copper Assortment of Lincoln Cents”, GreatCollections, January 15, 2023, Lot 1272835, $66,921.75.
- PCGS MS68RD #44355702: Stack’s Bowers, April 5, 2022, Lot 3017 – $55,200.
- PCGS MS67+RD #37195761: GreatCollections, September 1, 2019, Lot 723449 – $5,512.50.
- PCGS MS67+RD #25253371: Heritage Auctions, November 6, 2014, Lot 3588 – $17,625. Lower on entrance base of N, firming spot above ES in STATES.
- PCGS MS67RD #50031016: Heritage Auctions, July 28, 2005, lot 10114 – $13,800; “Anne Kate Assortment”, Stack’s Bowers, August 15, 2018, lot 501 – $5,760.
- PCGS MS67RD CAC #15601116: Heritage Auctions, January 7, 2010 – $13,800.
- PCGS MS67RD: Stack’s Bowers, June 23, 2004, lot 2340 – $12,650; Heritage Auctions, January 5, 2006, lot 3089 – $17,250. Spot between O and N and one other between N and E on reverse, tiny spot in area above 1 and 9 on date.
- PCGS MS67RD #02732036: Heritage Auctions, Could 4, 2005, lot 5327 – $14,950. Ex: Tom Mershon Assortment (on label).
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Design
Obverse:
The obverse of the 1918 Lincoln Cent includes a right-facing bust of the sixteenth President of the US, Abraham Lincoln. The date 1918 seems to the precise of Lincoln and the nationwide motto IN GOD WE TRUST seems above the president. To the left is the phrase LIBERTY.
Reverse:
Brenner’s “Wheat Cent” reverse. Two sheaths of wheat wrap round the precise and the left facet of the coin. On the prime of the design, the motto E · PLURIBUS · UNUM wraps across the rim. The denomination ONE CENT is inscribed in massive sans serif letters, the underside arm of the “E” extending past the arm on the prime. The center arm is recessed. Beneath, in the identical font however in a smaller sort, is the legend UNITED STATES OF AMERICA.
Edge:
The sting of the 1918 Lincoln Cent is obvious or clean, with out lettering or reeding.
Designer
Lithuanian-born coin designer Victor David Brenner is finest recognized for his iconic design for the Lincoln Cent (1909-Current) (View Designer’s Profile).
Coin Specs
| Nation: | United States of America |
| Yr of Challenge: | 1918 |
| Denomination: | One Cent (USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | 288,104,634 |
| Alloy: | .950 copper, .050 tin and zinc |
| Weight: | 3.11 g |
| Diameter: | 19.00 mm |
| Edge: | Plain |
| OBV Designer: | Victor David Brenner |
| REV Designer: | Victor David Brenner |
| High quality: | Enterprise Strike |
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