In the world of coin collecting, even the smallest minting errors can transform an ordinary coin into a highly sought-after treasure. A prime example is the 1990 Lincoln Memorial Penny, which, due to a minor yet significant flaw, has fetched impressive sums at auctions—sometimes exceeding $3,000. This article delves into the specifics of this remarkable coin, exploring its origins, the nature of its error, and the factors that contribute to its substantial value.
Coin Name: 1990 Lincoln Memorial Penny with No ‘S’ Mint Mark (Proof Error)
The 1990 Lincoln Memorial Penny is part of the long-running Lincoln cent series, featuring the iconic profile of President Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse. Traditionally, proof pennies minted in San Francisco bear an ‘S’ mint mark. However, a rare error occurred in 1990 when a small number of proof pennies were struck without this distinguishing mark, resulting in the 1990 No ‘S’ Proof Lincoln Cent. This omission was due to a mint state die, lacking the ‘S’ mint mark, being mistakenly used in the proof coin production process. The U.S. Mint acknowledged this error and confirmed the destruction of 145 such coins, leaving fewer than 200 examples known to exist today.
The Significance of the No ‘S’ Mint Mark Error
In modern minting practices, proof coins are meticulously crafted with specific dies that include the appropriate mint marks. The absence of the ‘S’ mint mark on the 1990 proof pennies is a notable deviation from standard procedures, making these coins exceptionally rare. This error was first discovered on July 18, 1990, by collector Jim Gullen of New York, prompting the U.S. Mint to publicly acknowledge the mistake. Given the rigorous quality control measures typically in place, such errors are uncommon, adding to the desirability of these coins among collectors.
Market Value and Auction Records
The rarity of the 1990 No ‘S’ Proof Lincoln Cent has led to significant interest in the numismatic community. High-grade specimens, particularly those with a Deep Cameo (DCAM) designation, have achieved impressive prices at auction. For instance, a PR69 DCAM example sold for $20,700 in 2007, though its value has adjusted to around $6,400 in more recent years due to the discovery of additional specimens. Nonetheless, even lower-graded examples can command prices ranging from $3,000 to $15,000, depending on their condition and the prevailing market demand.
The 1990 No ‘S’ Proof Lincoln Cent exemplifies how a minor minting error can elevate a coin’s status from ordinary to extraordinary. Its rarity, combined with the intrigue surrounding its production anomaly, makes it a prized possession for collectors. For those fortunate enough to discover such a coin, it represents not only a fascinating piece of minting history but also a potentially valuable asset.
FAQ’s:
1. How can I identify a 1990 No ‘S’ Proof Lincoln Cent?
2. Are all 1990 pennies without a mint mark valuable?
No, only the proof versions of the 1990 penny without the ‘S’ mint mark are considered valuable. Regular circulation pennies from 1990, typically minted in Philadelphia and lacking a mint mark, are common and hold nominal value.
3. What should I do if I suspect I have a 1990 No ‘S’ Proof Penny?
If you believe you possess this rare coin, it’s advisable to have it authenticated and graded by a reputable service such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) to determine its authenticity and condition.
4. Why are proof coins more valuable than regular coins?
5. How does the absence of a mint mark affect a coin’s value?
The absence of an expected mint mark, especially on proof coins, is typically the result of a minting error. Such anomalies are rare and can significantly increase a coin’s value due to their uniqueness and desirability among collectors.
