The 1982 1C Bronze Small Date Lincoln cent might seem like a regular one-cent coin, but in the world of numismatics, this particular coin is a rare and valuable find. Despite its large mintage and low face value, certain high-grade specimens of the 1982 Lincoln cent have sold for prices in the thousands. Here’s a deeper dive into what makes this coin special, why it’s so valuable, and the story behind its record-breaking sale.
A Brief Overview of the 1982 Lincoln Cent
This Article Includes
The 1982 1C Bronze Small Date Lincoln cent belongs to the Lincoln Cents series, which has been in circulation from 1959 to the present. Designed by Victor David Brenner and Frank Gasparro, the coin features the familiar image of Abraham Lincoln on the obverse. The reverse displays the iconic Lincoln Memorial, a design that has been a hallmark of the cent since 1959.
Weighing just 3.11 grams, this coin is made from a composition of 95% copper and 5% zinc, which was common for U.S. pennies until a shift occurred later in the same year.
The High Mintage and Its Significance
One of the most notable aspects of the 1982 Lincoln cent is its large mintage. According to the Professional Coin Grading Services (PCGS), a total of 10,712,525,000 of these coins were struck, all at the Philadelphia Mint. Given this massive production number, it might seem strange that the coin could fetch such a high price at auction. However, the value of any coin in the numismatic world is not solely based on its mintage. Factors such as rarity, condition, and historical context play a significant role in determining a coin’s value.
Why Is the 1982 1C Bronze Small Date So Valuable?
Although the 1982 1C Bronze Small Date Lincoln cent has a huge mintage, it is notably difficult to find in high-grade condition. In fact, PCGS states that these coins are the most challenging to locate in pristine form. This is due to several factors, including the coin’s relatively short time in circulation and the tendency for coins to wear quickly due to frequent handling.
Another factor that contributes to the value of this coin is its composition. In 1982, the U.S. Mint shifted from producing coins made of bronze (95% copper) to those made primarily from zinc due to the rising cost of copper. As a result, some 1982 cents were struck in copper while others were made with zinc, and they all appear similar to the untrained eye. However, copper versions, particularly the Small Date variety, are much rarer and significantly more valuable than their zinc counterparts.
The Role of Mint Marks
The 1982 Lincoln cent also comes in several varieties based on the mint that produced them. The majority of coins were minted in Philadelphia, meaning they have no mint mark. However, some were struck in Denver, which is indicated by a “D” mint mark. Additionally, coins from the San Francisco and West Point mints were also produced, but these versions are even more challenging to find.
The differences in minting locations and their associated marks can add to the complexity of determining the rarity and value of these coins. As a result, collectors pay close attention to the specific details of each coin when assessing its worth.
The Record-Breaking Sale of the 1982 1C Bronze Small Date
The rarest of the 1982 1C Bronze Small Date coins have made waves in the numismatic community for their high grades and limited availability. One such coin, graded MS67+ by PCGS, sold for an astonishing $9,988 at a Heritage Auctions event held in February 2014. While the coin’s mintage was incredibly high, its exceptional condition and rarity in that state were what made it so valuable.
At the time of its sale, this coin had already been off the market for decades, making it a sought-after prize for collectors. Given the increasing interest in rare coins and the rising cost of living, the price of such specimens has likely continued to climb in the years since.
Conclusion: The Ongoing Appeal of the 1982 1C Bronze Small Date
Despite its humble origins as a one-cent coin with a vast mintage, the 1982 1C Bronze Small Date Lincoln cent has proven to be a highly prized item in the world of numismatics. Its scarcity in high-grade condition, combined with its historical context and minting intricacies, makes it a valuable piece for collectors. If you happen to own one of these coins in exceptional condition, it’s worth consulting a professional grading service like PCGS to understand its true market value.
Whether you’re an experienced numismatist or a casual collector, the 1982 1C Bronze Small Date coin is a reminder that even the most common items can hold great worth when they meet the right conditions.