The 1982 1C Bronze Small Date coin has garnered attention not just for its historical significance but also for its astonishing market value. Despite its humble face value, this particular penny has become one of the most sought-after coins in American numismatics.
A Brief Overview of the Coin
This Article Includes
The 1982 1C Bronze Small Date is part of the Lincoln Cents series, which has been in circulation since 1959. This coin was designed by renowned engravers Victor David Brenner and Frank Gasparro, showcasing a profile of President Abraham Lincoln on the obverse and the iconic Lincoln Memorial on the reverse. Weighing in at just 3.11 grams, this penny may appear unassuming, yet its story is one of rarity and exceptional market demand.
Mintage and Composition
Produced at the Philadelphia Mint, the mintage of the 1982 1C Bronze Small Date stands at a staggering 10,712,525,000. However, this high mintage does not diminish its value. The coin is primarily composed of 95% copper and 5% zinc, which was standard for pennies until 1982, when rising copper prices prompted a transition to a zinc-based composition.
The Mystery of Its Value
Despite its substantial mintage, the 1982 1C Bronze Small Date coin has reached impressive prices in the market. One notable example sold for $9,988 at Heritage Auctions. This remarkable price can be attributed to several factors, including the scarcity of high-grade specimens.
While there were seven different varieties of 1982 cents, the Small Date variety stands out for its difficulty to locate in superior condition. Coins in high grades are extremely rare, and those that achieve a grade of MS67+ or higher can command premium prices among collectors.
The Shift from Copper to Zinc
The transition from copper to zinc coins in 1982 marked a significant change in U.S. Mint practices. With the rising cost of copper, the Mint began producing pennies primarily from zinc, resulting in several varieties of the 1982 penny. Coins minted in Denver bear a D mint mark, while those produced in Philadelphia, San Francisco, and West Point do not carry any mint mark.
The Market Demand for High-Grade Coins
The soaring price of copper led to the production of fewer high-grade 1982 1C Bronze Small Date coins. As a result, specimens that are found in outstanding condition are rare and valuable. Collectors are particularly interested in those graded by Professional Coin Grading Services (PCGS), as their assessments assure buyers of the coin’s quality.
Conclusion
The 1982 1C Bronze Small Date coin is not just another penny; it is a testament to the complexities of coin collecting and the factors that drive market value. Its incredible selling price reflects not only its historical background but also the ongoing interest in rare coins. For those who may own a specimen in excellent condition, contacting PCGS for an appraisal could yield surprising results.