Old San Francisco Mint - 1874
If you have been trying to accumulate a set of old Lincoln cents you know how difficult it is to find those early dates from the San Francisco Mint. Very limited numbers of coins were ever made in the early years, and they only saw limited circulation east of the Rockies. Even collectors on the West Coast rarely see such coins any more, and it is practically impossible to fine early “S” Mint coins in the East.
The government established an official mint in San Francisco in 1854 to help assure that there would be enough coins to accommodate the blossoming economy in California after the discovery of gold there a few years earlier. It was slow and expensive to ship coins all the way from the Philadelphia Mint to California; and it was dangerous. Many shipments never reached their destination even though the transfer was entrusted to the army. Setting up a mint on the West Coast was an economical way to eliminate the nagging problem of never having a ready supply of coins to meet growing needs.
Production of coins in San Francisco was never large when compared to the millions of pieces made at the Philadelphia Mint each year. Only 130,000 “S” Mint half-dollar coins were made in 1855, for example, while over four million were made in New Orleans and Philadelphia that year. When the San Francisco Mint began production of nickels for the first time in 1912, only 238,000 coins were produced. In that same year over eight million nickels were made in Denver, and in Philadelphia more than 26 million were manufactured.
1909 Lincoln Cent
The most widely publicized and sought after early San Francisco coins are the 1909-S Lincoln cents with or without the designer’s initials VDB on the reverse. The classic 1909-S VDB that is lacking in most collections is rarely available today for prices under $400.00 even in worn condition. It is the one coin that most collectors remember from their childhood days of coin searching, and continue to long for when they attempt to complete that Lincoln cent collection later in life. Eventually buying the elusive coin is an attainable goal for most adults, but actually finding one in change is the like searching for the Holy Grail.
Collectors and non-collectors alike have long known that most early date “S” mint coins were worth saving because of their scarcity. The quantities of those early coins that have been removed from circulation over the years has further added to their scarcity and today it is extremely rare to find any “S” coins in circulation or even in old accumulations.
Manufacture of circulating coins was halted at San Francisco from 1956 to 1967 because of costs and diminished need. When production was resumed in 1968 it was confined to special proof coins, commemorative issues, and sets for collectors. Now it is practically impossible to locate an “S” coin in your change. But if you do, you will know immediately that you have found something very special and worth saving.
Coins Appeal To People Of All Ages
Is there such a thing as a really “typical” coin collector? Probably not. They seem to come in all styles and range from youngsters of around the age of ten, up to at least one very active individual I know who is 100. There are some good demographics on the kinds of people who collect coins, so we know what the average person is like. But average is not necessarily typical. Best observation is that nearly every collector is an individual who enjoys the hobby in a unique fashion. There are no regulations or rules that must be followed to be a successful collector, so practically everyone just sets their own pace and has fun.
The world of coin collecting is divided into several areas of activity. There are those who just like the challenge of collecting and owning something of interest and value. There are also students who love the history and artistry of old coins, but sometimes do not even own any of them. There are also investors who speculate on the value of rare pieces and enjoy beating the market when prices go up and they make a profit. There are dealers, both professional and amateurs, who buy and sell coins to accommodate the market.
Many, if not most, people interested in old coins are some kind of a combination of all of the above. It is because of this diversity that everyone seems to have a different approach to their involvement in numismatics. Then too, most interests change or evolve over the years. Collectors become specialists, or investors, or even go into dealing when it is time to sell a collection.
The really great thing about this hobby is that there are no “norms.” Everyone is free to participate at any level, and to enjoy their coins as they see fit. Youngsters often become dealers and businessmen from their involvement. Investors learn to appreciate their holdings as works of art, and the senior generation sees coins as a healthy means of relaxation and a satisfying challenge to stimulate both mind and psyche. It would be dull if everyone enjoyed the same thing. Vive la difference.