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Old 02-21-2009, 12:44 AM
james1991 james1991 is offline
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Question Help pricing a 1973 D steel or zinc coated lincoln

I wish to apologize ahead of time as I do not have a scanner or digital camera to take pictures of this coin. I have tried with my cell phone, but they never turn out well.

I have a coin which I would like to have priced. I'm only 17, so I haven't had a huge chance to build my coin collection to anything more than a few hundred worldly, old U.S. (etc.) coins or so, but I collect 'em as I go. Anyway, there is a coin which I came across along the way that I have never found any pricing information for.

The coin is a [magnetic] steel or zinc coated 1973 D Lincoln cent. The detail of the coin is pristine, so the previous owner must have taken great care of it. It doesn't appear as if someone just went and dipped it. Granted, I don't know much abut dipping coins, but there would be signs... Right? You would think that at least one part of the coin would be somewhat puddled. Well... It's absolutely perfect. Every single detail is distinguishable from the smallest letter, to Abe's hair, to the clean rim. There is not a single part thicker than what it should be. I do know for a fact that the coin is not on a dime planchet. Also, as stated before, the coin IS magnetic. Any help would be GREATLY appreciated.
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Old 02-21-2009, 03:47 AM
Westernlegend1 Westernlegend1 is offline
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Sounds like the one I posted about before.
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Old 02-21-2009, 08:58 AM
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I dont think its steel..the only steel pennies ever minted where the 1943 ones..in the early 70s they toyed with the idea of alum. pennies and I think they did mint some but they where all destroyed and none where put in circulation.

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Old 02-21-2009, 09:07 AM
james1991 james1991 is offline
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Default Westerblegend1, found your post

Quote:
Originally Posted by Westernlegend1 View Post
"I believe there was also a 1973 steel or zinc cent that was also made, several million, government canceled the release but a few copies had gotten out."
"Now if I remember correctly on this one I mentioned, the government made millions of these coins and some were handed out to high ranking government officials as that is normal custom. The decision was then made not to release the coins and melt them down, the officials who recieved the complimentary ones were asked to return them. The officials knew they had a rare coin and claimed they misplaced them or actually spent the coin.
History has shown that in the past coins that were never to be released have gotten out.
Two were:
The $20 gold piece (1933 i believe)
and the 1913 V-nickel (s mint I believe)
I am sure there were others"


So, if this IS indeed true about my coin, what do you think would be the value of it? Also, do you think that it could be confiscated by the Feds?
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Old 02-21-2009, 09:13 AM
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I don't mean to stick my nose in , but have you had it looked at by a coin shop or dealer?? If this is indeed a coin of significant value I would have someone look at it and If it turns out its legit It should be graded. Just a thought. Sorry to barge in on your conversation.
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Old 02-21-2009, 09:20 AM
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in 1973 they toyed with the idea of making cents out of another metal here where there choices.

Aluminum Alloys: Readily fabricated into strip and coins; favorable long range supply outlook; annual multi-million dollar savings in raw materials; and has been accepted as a coinage material in other major industrialized countries.
Bronze Clad Steel: Very difficult to fabricate high relief coins, higher strip fabrication, blank annealing and coining costs, and low scrap recovery value may offset lower raw materials costs.
Chromized Steel: Very difficult to fabricate high relief coins, uncertain supply outlook for strip.
Copper-Zinc Alloys: Lack of sufficient long range seigniorage protection against further increases in the price of copper, probable increase in manufacturing costs.

out of these choices they picked the aluminum...over 1 million where minted...there is a myth that a few may have got out..but there was never..I repeat never...a 1973 steel penny..the gov did not appove the alum. penny idea and all where destroyed. if you have a magnetic 1973 penny it was altered.

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Old 02-21-2009, 09:22 AM
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Quote:
Originally Posted by MassDirtFisher View Post
I don't mean to stick my nose in , but have you had it looked at by a coin shop or dealer?? If this is indeed a coin of significant value I would have someone look at it and If it turns out its legit It should be graded. Just a thought. Sorry to barge in on your conversation.
I have to agree with MDF. Have it looked at by an expert. And protect it, any blemish could affect it's value. Potentially you have a very valuable coin there.

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Old 02-21-2009, 09:25 AM
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Look I am no expert in pennies or coins for that matter. Just take a few minutes and bring it to someone that knows coins. They will give the best advice on your penny. There will be no doubts after that. Happy Hunting to all!!
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Old 02-21-2009, 10:17 AM
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It good be a planchet error from the mint ... in this case a coin struck on the wrong metal. This will happen when a coin blank of the wrong metal is dropped into the hopper when the coins are struck .. there are a variety of reasons that would cause this including the possibility that a mint employee did it intentionally
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Old 02-21-2009, 05:54 PM
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I think the best thing is to have a picture of it and E mail PCGS Grading service. They will know if such a coin actually exists or is just a steel coated and zinc coated penny. Someone at the mint may have just inserted a steel blank and struck it for someone. Don't bring it to a dealer!!!!!! You could lose it. I know someone that brought a dealer a rare coin and he said he misplaced it. Keep it in a safe or safetry deposit box and don't let anyone near it, period. Just my thoughts.
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Old 02-22-2009, 05:39 PM
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An aluminum penny!? That would ring up as a pull tab or can slaw!

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Old 02-22-2009, 06:30 PM
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I found one kinda like that a few years ago in some change I was looking through, The silver color really stood out, I don't know anything about it..

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Old 02-22-2009, 08:10 PM
james1991 james1991 is offline
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I'll take it into the Coin and Jewelery store a few blocks from my home after school tomorrow and ask them if they know anything about it. Although, it seems like a Coin and Jewelery store may not have much knowledge on something such as this. I guess it wouldn't hurt just to check, though. I'll keep you guys posted.
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Old 02-22-2009, 08:35 PM
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a coin shop wont have much knowledge on a coin? what kinda coin shop is this?

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Old 02-22-2009, 08:40 PM
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I have one of these coins also. I don't know nothing about it either...

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Old 02-22-2009, 08:42 PM
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Quote:
Originally Posted by RelicHound View Post
a coin shop wont have much knowledge on a coin? what kinda coin shop is this?
The same peeps that run Cash-4-gold. The lady,s voice who got 600 dollars for her gold would make a cup of coffee nervous................................

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Old 02-23-2009, 09:39 AM
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Default Penny struck on Dime planchet

You may have a winner with that coin .... here's two examples of a 1973 penny struck on a dime coin blank .... there's no mint mark on these two ... they sold at auction in the $400 range. Nice catch if yours proves to be the same.


http://coins.ha.com/common/view_item...No=10862#Photo
http://coins.ha.com/common/view_item...No=10579#photo
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Old 02-23-2009, 10:05 AM
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Quote:
Originally Posted by AHSARoger View Post
You may have a winner with that coin .... here's two examples of a 1973 penny struck on a dime coin blank .... there's no mint mark on these two ... they sold at auction in the $400 range. Nice catch if yours proves to be the same.


http://coins.ha.com/common/view_item...No=10862#Photo
http://coins.ha.com/common/view_item...No=10579#photo
dimes arent magnetic either

James I hope you do have a rare coin there but I cant come across anything about a 1973 steel penny. like the others have said your best bet is to have a reputable coin dealer check it out and they will tell whether or not it'll be worth having someone else look at it..hopefully its so rare you have the first and only one.

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Old 02-23-2009, 12:23 PM
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Default Hope it's a keeper

Coin collectors, as apposed to coin dealers aka (used car salesmen) would be a better bet. Where is Archaios when we need him?....Gil

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Old 02-23-2009, 03:21 PM
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This is indeed a mystery, but I think I can eliminate a couple of possibilities due to the coin being attracted to a magnet. The new cents referenced earlier dated 1973 were actually produced in 1974 and 1975. Unfortunately for you, they were aluminum and therefore not magnetic. It is also not struck on a clad dime planchet as those were not magnetic either. There are two remaining possibilities: The coin is a counterfeit strike or it was struck on a foreign planchet. The U.S. mint also strikes coinage for countries lacking their own ability to do so and sometimes planchets from these operations get stuck in the machinery at the mint. Then during a striking of U.S. coins, they break free and are stuck with U.S. dies. Here are a couple of links with more information. The first discusses the 1974 striking of trial aluminum cents and the second is a page from Fred Weinbergs off-metal strikes offered for sale. You can see several strikes on foreign planchets offered for sale (at real impressive prices). Hope this helps.

http://books.google.com/books?id=Hx-...um=2&ct=result

http://www.fredweinberg.com/inventor...t.asp?t=c&ID=6
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