1844 Large Penny
The first United States one-cent pieces, issued from 1793 to 1857 were called “coppers” by just about everyone. The reason was simple enough, they were made of pure copper, and prior to that many of the low denomination coins used by the Colonial settlers came from various places and they too were called “coppers.” Oddly enough, the term “penny” was not in general use here until more recent times. Both of the terms refer to what should more properly be called the U.S. One Cent coin.
1863 Indian Head Penny
Many people believe that their pennies are still made of copper, but that is not so, and hasn’t been for many years. From 1857 to 1864 cents were made of a much smaller size than the original “coppers” and they were made of an alloy of 88 per cent copper and 12 per cent nickel. The coins were straw colored with a golden tone. The addition of nickel made the coins better able to stand wear. It was a very serviceable alloy that would have been continued in use except that there was a shortage of nickel during the Civil War, and production was curtailed.
1943 Steel Penny
In 1864 a thinner version of the cent was made using 95 per cent copper and 5 per cent tin and zinc. That same size and alloy continued to be used up until 1943 when copper became a critical war metal. Zinc-coated steel cents were tried for the first time in 1943, but that experiment was a failure and the Mint returned to a different form of bronze in 1944. Some of the cents made from then until 1946 contained a mixture of old brass and bronze that has been called “war time alloy”. After that the mint returned to something like the original formula using approximately 95 per cent copper and 5 per cent zinc.
When the price of copper again rose to nearly the face value of the penny, another change was made. This time, starting in 1982, the basic metal became 99.2 per cent zinc and 0.8 per cent copper, with a light plating of pure copper. That is the composition of most of the “coppers” that you have in your pocket today.
Call them coppers, cents or pennies, as you wish, they have very little purchasing power now, and may become a thing of the past someday.
Many People Find a Lifetime of Fun For Only a Few Pennies
My first coin was a funny looking copper piece from China. A neighbor gave it to me many years ago when I was probably no more than four years old. It was fascinating because it did not look like any other coin I had ever seen. This one was about the size of a quarter but it was thin and had a square hole in the middle. I later learned that it was called a “cash”, and the hole was there so that large batches of them could be strung together for easy carrying.
The collectors who took part in this survey were all very specific in describing what got them started in their hobby. They seemed to remember everything about that first coin and what it meant to them. It didn’t seem to matter if it was a rare and valuable piece, or just something of no particular worth. It was the fact that there was something different and intriguing about that coin that caught their fancy. Nearly everyone remembered exactly where, when and how their treasured introduction was acquired, and they talked to me enthusiastically about the event.
Reminiscing about my Chinese cash coin always brings back fond memories of the long departed neighbor who gave it to me, and what it meant to me then, and even now. It makes me realize that it was that chance acquisition that started me on a life-long interest in money from all over the world. I am just like all the others in that survey, in that my first coin is something that will always have a special place in my collection, even though it is still worth less than 25¢!
For many these new coins will be a novelty, but others see them as an opportunity to invest in a metal that has numerous unique uses in industry, and one which is in short supply throughout the world. The limited number of working mines that produce this precious metal can rarely keep up with demand, and there is no other metal that has the same properties as platinum.