History of the 1991 Penny
The 1991 Lincoln penny was minted in 1991. It is estimated that 5,165,940,000 1991 Lincoln pennies were produced in the United States. This figure doesn’t accurately account for the total number of pennies in circulation because pennies that may have been melted, damaged, or never released into circulation are not reflected in this count.
The 1991 penny features two sides. The obverse depicted a portrait of Abraham Lincoln with ‘LIBERTY’ written on the left, ‘1991’ written on the right, and ‘In God We Trust’ aligned at the top. The reverse of the penny shows a 12-pillared building with ‘E pluribus unum’ written above and ‘ONE CENT’ written below.
Appraisal Value of the 1991 Penny
Its uniqueness lies primarily on the head side of the coin, which features an imprinted picture of the 16th President of the United States, Abraham Lincoln.
In rough condition, the coin is said to be valued at around one cent, but in certified Mint-State condition, it could be appraised at a value of up to $1. The 1991 Lincoln penny does not have a mint mark.
Background of the Lincoln Penny
The Lincoln Penny’s head was designed by Victor David Brenner, as well as the original tails. Victor David Brenner, primarily known as the designer of the Lincoln cent, was a sculptor, an engraver, and a medalist. Brenner’s friend, Charles Eliot Norton of Harvard, provided him with a portrait of Abraham Lincoln, which was engraved into the Lincoln cent.
The Lincoln cent was struck in 1909. Since then, it has undergone several different tails’ editions. The obverse, however, is known as the longest-lasting design in the United States Mint Factory.
An interesting development occurred as the sculptor submitted his design, which included his initials, VDB, at the base on the back side of the coin. Subsequent to approval of his design, the coins were removed immediately within days of circulation.
The initials were deemed too prominent and hence, changed to a less prominent size. The initials were positioned on the shoulder Abraham Lincoln the second time. It would be interesting to see if anyone has discovered the cancelled version of this penny.
This coin was originally struck in 95% copper, but for one year in 1943, the coin was struck in steel. The reason for this was because copper was utilized during the war for other purposes.
The composition was once again changed to another content, Zinc, in 1982 due to the increased prices of copper during the inflation period. The outer layer remained composed of copper.
Image Source Flickr user Mark Morgan
1991 Penny Error
There have been several errors reported regarding the 1991 penny. One such error is the ‘1991 D Penny Double Die.’ It has "BIE" in the word “Liberty” and the whole date is double.
Many BIE-error pennies sell at auction for higher prices. The stronger the doubling is, the more valuable it is. According to speculations, this may very well be a genuine error if not a vice job.
Good luck to roll hunters if they find anything similar!
How are Coins Graded
Your coins are graded by top grading companies in terms of its worth. The graded value is one of the major factors which determines the value of your coin. Other conditions such as appearance, rarity, and the metal type as well as quantity help form the value of your coins.
There are four coin grading companies in the United States. Those are the best organizations to get your collection graded. Any certification from companies bearing affiliation to ANA will result in an increased value of your coins.
Coin collectors may very well be aware of certain terms used in grading coins, as they are unique to coin-collecting. We’ll explore them for the benefit of the laymen, as it’s helpful to learn what these terms signify.
Mint State condition refers to the coins which have never been circulated. Buyers purchase these coins in the state they were originally produced.
Mint Mark signifies the mint the coin was struck in. Any coin that does not have a mint mark usually means the coin may have been struck at the Philadelphia Mint, but not necessarily. The US Mint began to operate mint branches throughout the country so these coins would bear a mint mark to be distinguished from one another by their respective mint marks. Some coins from other mints did not bear mint marks either. This was done in order to prevent people from collecting coins because that resulted in a shortage of coins.
Numismatics refers to the study of currency, but is largely perceived as a study of coins only. Numismatists are individuals who are coin collectors and posses sound knowledge of appraising coins. They examine genuineness, determining the degree of rarity of the coins and much more.
While the 1991 Lincoln penny won’t bring home millions of dollars, it has an interesting history to collectors. It has one of the longest-lasting obverse designs in US Mint history. Composition changes and the double-die error enhance its uniqueness and make it a great coin for collectors.