Coin collectors often dream of finding unique errors or rare variations that make their coins truly special. Recently, a coin collector stumbled upon a remarkable error in a Lincoln Memorial Cent that was part of a U.S. Mint Proof Set. This discovery has created a buzz among numismatists, as it highlights the ongoing excitement surrounding error coins and their increasing value in the collector’s market.
The Discovery
While examining a 1970-S Proof Set purchased years ago, the collector noticed something unusual about the Lincoln Memorial Cent. Upon closer inspection, they realized that the coin was a rare “Small Date” variety—a well-known but elusive error. This error features subtle differences in the date’s font and alignment, making it distinguishable to trained eyes.
What made this find even more extraordinary was the pristine condition of the coin, as Proof Sets are carefully preserved in their original government packaging. Proof coins typically feature a mirror-like finish and sharp details, which made the error even more striking when discovered.
Understanding the Error
The 1970-S “Small Date” Lincoln Cent is one of the most sought-after variations in the Proof coin series. It was created when the U.S. Mint used different dies during production. The Small Date variety is characterized by a “7” in the date that appears level with the other numerals and a weaker strike overall. In contrast, the “Large Date” variant has a taller “7” and a stronger, more prominent strike.
Error coins like these are not intentional but occur when variations in design or production techniques result in unintended outcomes. These coins often escape detection during quality checks and are distributed to the public, creating rare opportunities for collectors.
The Value of Error Coins
Error coins, especially those from Proof Sets, are highly desirable among collectors because of their rarity. The 1970-S “Small Date” Proof Lincoln Cent is considered one of the most valuable errors in the Lincoln Memorial Cent series. Depending on its condition, this coin can fetch anywhere from $500 to several thousand dollars in the market.
The collector who discovered this coin reportedly had it graded by a reputable third-party service, where it received a high grade, further enhancing its value. Coins graded as PR69 or PR70 are highly coveted for their near-perfect condition.
Why Collectors Should Check Their Proof Sets
This discovery serves as a reminder to collectors to revisit their collections, especially Proof Sets that may have been overlooked. Many collectors buy these sets for their aesthetic appeal but may not realize the hidden treasures they could contain. Rare errors and variations often go unnoticed for years until someone takes the time to examine them closely.
If you own a Proof Set, especially from years known for errors like 1970, 1969, or 1995, it might be worth taking a closer look. Errors in Proof coins are not only exciting to find but can also be highly rewarding financially.
Conclusion
The discovery of a rare Lincoln Memorial Cent error in a Proof Set is a thrilling reminder of the excitement that coin collecting can bring. With a careful eye and a bit of luck, even long-held collections can yield hidden treasures. For numismatists and enthusiasts alike, this story underscores the importance of meticulous examination and the enduring appeal of error coins. Whether you’re a seasoned collector or just starting, you never know what rare find might be waiting in your collection.
FAQs
1. What is a “Small Date” Lincoln Memorial Cent?
The “Small Date” Lincoln Memorial Cent is a variation of the 1970-S Proof Cent, distinguished by a smaller “7” in the date. It is a rare error coin highly sought after by collectors due to its uniqueness and rarity.
2. How can I determine if my Proof Set contains rare coins?
To check for rare coins in your Proof Set, carefully examine the dates, mint marks, and overall design. Some years, like 1970 and 1969, are known for containing error coins.
3. How much is a rare Lincoln Memorial Cent worth?
A rare Lincoln Memorial Cent, especially a high-grade “Small Date” Proof, can be worth hundreds or even thousands of dollars.