| United States | |
| Value | 0.01 U.S. dollars |
|---|---|
| Mass | 0.937 g (0.030 troy oz) |
| Diameter | 19.05 mm (0.750 in) |
| Thickness | 1.55 mm (0.061 in) |
| Edge | Plain/Smooth |
| Composition | 96% Aluminium with trace metals mixed in. |
| Years of minting | 1974–1975 |
| Catalog number | Judd J2151/Pollock P2084 (1974 Aluminium) Judd J2152 (1974 Bronze-Plated Steel) Judd J2155 (1975 Aluminium) |
| Obverse | |
| Design | Abraham Lincoln |
| Designer | Victor D. Brenner |
| Design date | 1909 |
| Reverse | |
| Design | Lincoln Memorial |
| Designer | Frank Gasparro |
| Design date | 1959 |
The 1974 aluminium cent was a one-cent coin proposed by the United States Mint in 1973. It was composed of an alloy of aluminium and trace metals, and intended to replace the predominantly copper–zinc cent due to the rising costs of coin production in the traditional bronze alloy. 1,571,167 were struck in anticipation of release, but none were released into circulation. Examples were passed out to US Congressmen in a bid to win favor in switching to the new alloy. When the proposed aluminium cent was rejected, the Mint recalled and destroyed the examples. A few aluminium cents not returned to the Mint are believed to remain in existence. One example was donated to the Smithsonian Institution, while another was alleged to have been found by a US Capitol Police Officer. Since the United States Secret Service is tasked with the seizure of any specimens, the legality of the coins is in doubt.
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In late 1973, the price of copper on world markets rose to a point where the metallic value of the cent was almost equal to its face value.[1][2][3] The U.S. Mint, which produces billions of cents annually, was faced with a potentially catastrophic operating deficit, due to issues of seigniorage. As a result, the Mint tested alternate metals, including aluminium and bronze-clad steel.[4] A composition of 96% aluminium (with trace elements for stability) was chosen.[1][5] The composition was chosen due to its longevity on coin die use, and aluminium's high resistance to tarnishing.[6] 1,571,167 examples of the new cents were struck.[1][5] Although they were produced in 1973, they were struck using 1974 dated dies in anticipation of release into circulation in that year.[1][4]
In an effort to gain acceptance for the new composition, the Mint distributed approximately three dozen examples to various members of the House Banking and Currency Committee and the Senate Banking, Housing, and Urban Affairs Committee. Nine congressmen and four senators received examples, along with some Treasury officials.[1] Additional specimens were given out by then Mint Director Mary Brooks.[5] Ultimately, the proposal was rejected in Congress, due mainly to the efforts of the copper-mining and vending machine industries,[7] which felt the coins would cause mechanical problems.[8] Opposition also came from pediatricians and pediatric radiologists who pointed out the radiodensity of the metal inside the respiratory and gastrointestinal tracts was close to that of soft tissue, and therefore would be difficult to detect in X-ray imaging.[8] In addition, the price of copper declined enough that making copper cents would again be economically viable, and conversely made hoarding pointless. The idea of changing the composition of the cent would not be explored again until the 1980s. In 1982 the composition of the coin was changed to the current 99.2% zinc and 0.8% copper core alloy with a plating of pure copper and a 20% weight reduction.[9]
After the setback, the US Mint recalled the coins, but about a dozen[10] to 14[1] aluminium cents were never returned to the mint. No oversight, record keeping, or statement that the coins had to be returned was made by the US Mint as examples were handed out.[1] When Federal Bureau of Investigation and other government law enforcement agencies were called in to investigate, however, some congressmen feigned ignorance and/or denied getting examples.[1] They are now considered government property, and are subject to seizure by the Secret Service,[11] though the legality of the cent is questioned by numismatists.[1][5] One aluminium cent was donated to the Smithsonian Institution for the National Numismatic Collection.[1][6] Since no examples have been put up for public or known private sale,[12] it is difficult to estimate their value.
The coin is considered by a few numismatists not as a pattern coin but rather a rejected or cancelled regular issue despite being listed in pattern books.[4]
In the February 20, 2001, edition of Numismatic News, Alan Herbert reported the existence of an aluminium cent. It was attributed to US Capitol Police Officer Albert Toven who found the coin dropped by an unnamed US Congressman on the floor of the Rayburn Office Building. When the officer attempted to return the coin to the congressman, thinking it was a dime, the congressman told him to keep it.[1][13] This example was graded and certified by the Independent Coin Grading Company as “About Uncirculated-58” in 2005, but later certified Mint State 62 two months later by Professional Coin Grading Service.[1][4][5][13][14]
Several other related examples are alleged to have existed at some point or another, including
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