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For over two centuries, the humble U.S. penny has jingled in our pockets, representing not just a single cent, but a symbol of American history, commerce, and culture. Now, after 233 years in circulation, the U.S. Treasury has announced the official retirement of the penny by early 2026. It’s a decision that’s making headlines and stirring up conversations among collectors, economists, and everyday Americans alike.
By Coin Collecting November 7, 2024
U.S. Large Cents are some of the oldest and most storied American coins, providing a tangible link to the country’s earliest days. Minted from 1793 to 1857, these hefty copper coins carry immense historical significance and offer an exciting opportunity for collectors. In this guide, we’ll explore how to start building your collection of U.S. Large Cents, key dates to look for, and tips for finding coins that won’t break the bank.
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Coin collecting is often seen as a passion-driven hobby, but did you know it can also be a smart investment? Many seasoned numismatists have turned their collections into profitable long-term investments. For beginners, the idea of coin collecting as an investment may seem daunting, but with a little know-how, you can start building a collection that not only holds historical value but financial potential as well. In this article, we’ll explore what makes a coin valuable, how to recognize hidden gems, and offer some pro tips on making smart investment decisions that can pay off in the long run.
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If you're a coin collector, chances are you've come across American Eagle coins. These iconic coins, minted by the U.S. Mint, are not only beautiful works of art but also valuable investments in precious metals. With a rich history, stunning designs, and plenty of rare versions to hunt for, American Eagle coins have something for everyone. Whether you’re just starting or a seasoned pro, this guide will take you through the fascinating world of Silver, Gold, and Palladium Eagles—plus a few fun facts you probably didn’t know!
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Welcome to American Legacy: Unveiling the History of U.S. Coins, a blog series created for CoinCollecting.com. Whether you’re a lifelong collector or new to the hobby, this series will explore the rich and storied history of U.S. coinage, uncovering everything from iconic designs to hidden treasures. We’ll take you on a journey through America’s numismatic past, offering insights on how to build your collection, spot valuable coins, and understand what makes each piece a part of the American legacy.
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Glossary


Heard some coin lingo that you're unfamiliar with?

  • Bag Mark

    Marks and scratches from coins rubbing against each other while they're inside the bags from the Mint they're delivered in.

  • Blank

    Disk of metal that the coin will be stamped into, also called a planchet.

  • Bullion

    Precious metals in the form of ingots, coins, plates, or bars. (gold, silver, and platinum)

  • Business Strike

    A coin that is struck specifically for everyday use in commerce. 

  • Bust

    A portrait, usually the head neck and shoulders of the person on the coin.

  • Cameo

    A coin that has a significant contrast between the field and the design.  A mirror-like finish.  Most often on proof coins.

  • Circulated

    Describes a coin that has wear, usually a coin that's been used in everyday commerce.

  • Clad

    Multiple layers of metal in a coin, usually a copper core, a nickel-copper alloy on the outside.

  • Coin

    A flat, round piece of metal, usually with an official design stamped into it, used as money.

  • Commemorative

    Coins that are issued to commemorate a particular person, place, or event.  Usually have a distinct design related to the event.

  • Condition

    Used to describe the wear on a coin

  • Counterfeit

    A fake.  A coin that is made by someone to look like an authentic coin.

  • Currency

    Money that is used as a medium of exchange.  e.g. The U.S one dollar bill is currency.

  • Denomination

    The face value of a coin, or paper money.  

  • Device

    The design element on a coin, such as a bust, portrait, or other images.

  • Die

    Two metal stamps used to press images into coins.

  • Doubled-Die

    Refers to a duplication of design on a die, due to misalignment.

  • Engraver

    Someone who cuts and/or designs words and images on metal for the coins.

  • Error

    A coin that has one or more mistakes on it, such as a missing mintmark.

  • Face value

    The worth of a denomination. Such as a quarter's face value is .25 cents.

  • Field

    The blank area behind the device or design on a coin.

  • Grade

    Used to describe the condition of a coin.  

  • Incuse

    An impression hammered or stamped into a coin so that the design is lower than than the rest of the surface.  Opposite of relief.

  • Ingot

    A block of gold, silver, or any other precious metal.  Used to melt down and make into coins.

  • Inscription

    The words inscribed on the coin. 

  • Intrinsic Value

    Also known as melt value, this is the value of the metal in the coin.

  • Key Date

    This refers to a given date in a set of coins that is much more difficult to obtain than the other dates.  Usually what collectors are after.

  • Legend

    The curverd words that appear around the edge of a coin.

  • Medal

    A round metal disk with a design or an inscription, used to commemorate an event or person.

  • Melt Value

    Also known as intrinsic value, this is the value of the metal in a coin if it were melted down.

  • Mint

    The primary producer of a country's coin currency.  The U.S. currently has Mints in Philadelphia, Denver, San Francisco, and West Point.

  • Mint State

    Refers to a coin that has not been circulated, it's in the same condition it was when it was first released from the Mint.

  • Mintage

    The number of copies produced of a particular coin.

  • Mintmark

    A mark indicating at which Mint the coin was struck.  D for Denver, S for San Francisco, P for Philadelphia, and W for West Point.

  • Motto

    The inscription "In God We Trust"

  • Numismatics

    The study or collection of currency, which includes coins, paper currency, and medals.

  • Obverse

    The "face" of the coin.

  • Overstrike

    When a coin is struck onto an existing coin, rather than a blank planchet.

  • Planchet

    A blank disk of metal, used for stamping designs into to make coins.

  • Proof

    Refers to the finish on the coin, usually a mirror finish.  These are usually specially struck coins minted just for collectors.

  • Reeding

    The grooved lines on the edge of a coin, such as the Washington quarter.

  • Relief

    A raised design on a coin. Opposite of incuse.

  • Reverse

    The "tails" side of the coin, opposite of obverse.

  • Rim

    The raised part of a coin that encircles the perimeter of a coin.  This is on both sides of a coin.

  • Roll

    A paper or plastic container containing a stack of coins.  Usually acquired at a bank.

  • Series


  • Spot Price

    The price of one ounce of silver, or one ounce of gold at any given moment.

  • Troy Ounce

    A unit of measure used for precious metals.

    One Troy ounce is about 31 grams.

    One (regular) ounce is about 28 grams.

  • Type Set

    A collection of coins, based on design or type.  Such as all dates within the series of state quarters.

  • Uncirculated

    A coin that has never been circulated, and shows no wear.

  • Upsetting Mill

    A machine that raises the outer rim on a planchet before the coin will be struck.

  • Year Set

    A collection of coins released by the mint, containing all coins circulating in that year.