Have you ever wondered why some error coins are so well-known and worth so much money, while others are virtually ignored? Take, for example, the 1937-D 3-legged Buffalo Nickel. The missing leg was caused by a Mint worker being careless while cleaning a coin die; he accidentally erased part of the leg. This sort of accidental erasure is known to exist on most circulating coin types to a greater or lesser degree.
Why do we know about the 3-legged Buffalo Nickel, and why are specimens worth many hundreds of dollars or more? Because of hype. A coin dealer who happened to get an early good supply of 3-legged Buffaloes decided to "specialize" in them. He promoted them heavily in his advertising and told everyone who would listen how rare and special they were. Once the 3-legged Buffalo Nickel got listed in the Red Book as a recognized variety, its fame was assured, because back then additions to the Red Book canon were very rare.
Despite this intriguing history, the 3-legged Buffalo is far from being the most hyped coin in history. That honor goes to Read more...
The U.S. Mint has officially released the new 2010 U.S. Cent during a ceremony at the Abraham Lincoln Presidential Library and Museum in Springfield, Illinois. The 2010 Cent is noteworthy because it represents a change in reverse design for the venerable coin, which has borne the image of the Lincoln Memorial on it reverse ("tails" side) for 50 years.
In 2009, to celebrate the 100th anniversary of the Lincoln Cent, and the 200th anniversary of Lincoln's birth, the U.S. Cent had four different reverse designs, each issued about three months apart. Starting this year, the penny reverse depicts the union shield. The thirteen stripes represent the 13 colonies that formed the original Union. The upper portion of the shield represents the Federal Government, which is supported by the unity of the States.
The new permanent Lincoln cent reverse was designed by United States Mint Artistic Infusion Program Associate Designer Lyndall Bass, and sculpted by United States Mint Sculptor-Engraver Joseph Menna. The 2010 Cents have been released to the Federal Reserve System for distribution to banks, and should appear in circulation in coming weeks.
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