Key date

Last updated
A 1909-S VDB Lincoln Cent 1909-S VDB Lincoln cent obverse transparent background.png
A 1909-S VDB Lincoln Cent

A key date is a term used in coin collecting and it refers to a date (or date and mint mark combination) of a given coin series or coin set that is harder to obtain than other dates in the series. A key date coin is usually one with a lower mintage total and it is more valuable than others in the series. Many coin collectors collect coins to fill out a complete set of a series.

Contents

There are also semi-key dates in coin collecting. A semi-key date coin is typically one that is not as rare as the key date. The semi-key date often sells for a premium over common date coins, but less than the cost of a key date coin.

Background

A key date is a name given to a coin which is harder to obtain in a series. Often coins with certain years or Mint marks are key date coins. [1] [2] Some factors that influence whether a coin is a key date include: demand, quantity of coins struck, the population of surviving examples and rarity of mint sate examples. The cost of the key date coins in a series are usually the most expensive to obtain. [3] The coins are usually the rarest in a series. [4]

Key dates are an important component of coin collecting because many collectors collect coins which fill a coin set: key date coins are the most important. They are valued by collectors because they are needed to complete coin sets. [5]

For the United States collectors of the Lincoln cent series, the 1909-S VDB Lincoln Cent is the rarest and most expensive of cents. [4] The 1909-S VDB Lincoln cent is considered to be a key date due to its low mintage of only 484,000. [6]

The United States 1893-S Morgan dollar is known as the key date in the Morgan series. [7] The 1893-S Morgan dollars were struck at the United States San Francisco Mint. Only 100,000 coins were struck making it the lowest mintage of any business strike Morgan Dollar. [8]

Semi-key date

The next level of difficult to obtain coins in series are often referred to as semi-key dates or simply semi-keys. [9] The semi-key date coins are scarce and sell for a premium but they are not as scarce and rare as a key date. [3] [10] There are not rules which determine which coins are semi-key dates. Some coin collectors the coins in the series with lower mintage figures to be semi-key dates. [3]

Counterfeits

Numismatic Guaranty Company (NGC) produced a list of counterfeited coins: many of them are key date coins. One of the most common methods of counterfeiting involves adding a mintmark to the coin, in order to turn it into a key date coin. [11]

Related Research Articles

<span class="mw-page-title-main">Penny (United States coin)</span> Lowest-value physical American currency

The cent, the United States one-cent coin, often called the "penny", is a unit of currency equaling one one-hundredth of a United States dollar. It has been the lowest face-value physical unit of U.S. currency since the abolition of the half-cent in 1857. The first U.S. cent was produced in 1787, and the cent has been issued primarily as a copper or copper-plated coin throughout its history. Due to inflation, pennies have lost virtually all their purchasing power and are often viewed as an expensive burden to businesses, banks, government and the public in general.

<span class="mw-page-title-main">United States Mint</span> Produces circulating coinage for the United States

The United States Mint is a bureau of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce, as well as controlling the movement of bullion. It does not produce paper money; that responsibility belongs to the Bureau of Engraving and Printing. The first United States Mint was created in Philadelphia in 1792, and soon joined by other centers, whose coins were identified by their own mint marks. There are currently four active coin-producing mints: Philadelphia, Denver, San Francisco, and West Point.

<span class="mw-page-title-main">Three-cent piece</span>

The United States three cent piece was a unit of currency equaling 3100 of a United States dollar. The mint produced two different three-cent coins for circulation: the three-cent silver and the three-cent nickel. Additionally, a three-cent bronze coin was made as a pattern in 1863. During the period from 1865 to 1873, both coins were minted, albeit in very small quantities for the silver three-cent piece.

<span class="mw-page-title-main">Morgan dollar</span> U.S. dollar coin (1878–1904, 1921, 2021–present)

The Morgan dollar is a United States dollar coin minted from 1878 to 1904, in 1921, and beginning again in 2021 as a collectible. It was the first standard silver dollar minted since the passage of the Coinage Act of 1873, which ended the free coining of silver and the production of the previous design, the Seated Liberty dollar. It contained 412.5 Troy grains of 90% pure silver. The coin is named after its designer, United States Mint Assistant Engraver George T. Morgan. The obverse depicts a profile portrait representing Liberty, modeled by Anna Willess Williams, while the reverse depicts an eagle with wings outstretched. The mint mark, if present, appears on the reverse above between D and O in "Dollar".

<span class="mw-page-title-main">Numismatic Guaranty Company</span> American coin certification organization

Numismatic Guaranty Company (NGC) is an international third-party coin grading and certification service based in Sarasota, Florida. It has certified more than 50 million coins. NGC certification consists of authentication, grading, attribution, and encapsulation in clear plastic holders. NGC is a subsidiary of Certified Collectibles Group (CCG), which owns six collectible certification services and is in turn owned by Blackstone, a multibillion-dollar New York City hedge fund.

<span class="mw-page-title-main">Carson City Mint</span> United States historic place

The Carson City Mint was a branch of the United States Mint in Carson City, Nevada. It primarily minted silver coins; however, it also minted gold coins, with a total face value in dollars nearly equal to that of its silver coins. The mint minted coins in 21 different years.

<span class="mw-page-title-main">Three-dollar piece</span> US three-dollar coin (1854–1889)

The three-dollar piece was a gold coin produced by the United States Bureau of the Mint from 1854 to 1889. Authorized by the Act of February 21, 1853, the coin was designed by Mint Chief Engraver James B. Longacre. The obverse bears a representation of Lady Liberty wearing a headdress of a Native American princess and the reverse a wreath of corn, wheat, cotton, and tobacco.

United States coinage type set is a visual collection of each of the types of coins produced by the US Mints. A "Type set" collection is enjoyed by some collectors of coins who try to collect one example of as many types of coins as they can.

<span class="mw-page-title-main">500 yen coin</span> Highest circulating denomination of Japanese yen coinage

The 500 yen coin is the largest denomination of Japanese yen coin issued for circulation. These coins were first struck in 1982 as the vending machine industry needed a higher valued coin for use in their machines. The denomination had previously been issued as paper currency which co-circulated with the new coins until 1994. Originally the 500 yen coin was made up of cupronickel, but was later changed to nickel brass, and then to bi-metallic to deter counterfeiting. This illegal practice has been a constant issue since the coin was first released due to its high purchase value. With a history spanning 3 imperial eras, 500 yen coins are also collectibles.

<span class="mw-page-title-main">Coin roll hunting</span>

Coin roll hunting is the hobby of searching and sorting coinage pulled from circulation for collectible coins. This is achieved through obtaining rolled coin, boxed coin, or bagged coin from banks and credit unions. A variant of this practice involves banknotes and is carried out in essentially the same fashion, normally to search for unusual serial numbers, star notes, and misprints.

<span class="mw-page-title-main">Q. David Bowers</span> American numismatist, author, and columnist

Quentin David Bowers is an American numismatist, author, and columnist. Beginning in 1952, Bowers’s contributions to numismatics have continued uninterrupted and unabated to the present day. He has been involved in the selling of rare coins since 1953 when he was a teenager.

<span class="mw-page-title-main">1 yen coin</span> Smallest denomination of the Japanese yen currency

The 1-yen coin is the smallest denomination of the Japanese yen currency. Historically they were initially made of both silver and gold in the early 1870s. Issues facing the Japanese government at the time included wanting to adopt the gold standard, and competing against the Mexican dollar for use in foreign trade. The decision was made to use silver one yen coins exclusively outside of Japan for trade, while gold coins were minted and used in mainland Japan. Gold and silver coins were eventually allowed to co-circulate in mainland Japan from 1878 to 1897 when they were demonetized. Millions of former one yen silver coins were countermarked by the Japanese government for use outside of the mainland. Silver one yen coins continued to be minted until 1914 for backing up currency.

<span class="mw-page-title-main">Lincoln cent</span> One-cent United States coin

The Lincoln cent is a one-cent coin that has been struck by the United States Mint since 1909. The obverse or heads side was designed by Victor David Brenner, as was the original reverse, depicting two stalks of wheat. The coin has seen several reverse, or tails, designs and now bears one by Lyndall Bass depicting a Union shield. All coins struck by the United States government with a value of 1100 of a dollar are called cents because the United States has always minted coins using decimals. The penny nickname is a carryover from the coins struck in England, which went to decimals for coins in 1971.

These are the mintage quantities for strikings of the United States nickel.

<span class="mw-page-title-main">Coin set</span> A set of coins

A coin set, or mint set, is a collection of Uncirculated or Proof coins, released by a mint. Such sets are usually released annually and often called a year set. They include sets of all the circulating coins of that year, as well as sets of commemorative coins.

The one rin coin (一厘銅貨) was a Japanese coin worth one one-thousandth of a Japanese yen, as 10 rin equalled 1 sen, and 100 sen equaled 1 yen. The coins are no longer in circulation, but they are bought and sold both by professional numismatists and by amaeur coin collectors.

The 2 yen coin (二圓金貨) was a short lived denomination of Japanese yen. During the first year of mintage in 1870, hundreds of thousands of these new coins were struck. These figures dropped off sharply as the Japanese government looked towards silver as a trading commodity. The supply of gold bullion had also dwindled causing the demand for these coins to outpace the supply available. The public hoarded two yen coins along with other denominations of gold causing them not to circulate during the mid 1870s. Japan eventually obtained a supply of gold bullion towards the end of the century, but this came too late for the two yen coin which was last minted in 1892. Almost one hundred years later the two yen coin was officially demonetized. While not in circulation any more, these coins are bought and sold by numismatics for academic study, and by those with a hobby.

The American Numismatic Association Certification Service, better known as ANACS, is a coin grading company founded in 1972.

<span class="mw-page-title-main">1909-S VDB Lincoln Cent</span> Popular and valuable U.S. one-cent coin

The 1909-S VDB Lincoln Cent is a low-mintage coin of the United States dollar. It is a key date variety of the one-cent coin produced by the United States Mint in San Francisco in 1909. The Lincoln penny replaced the Indian Head penny and was the first everyday U.S. coin to feature an actual person, but it was immediately met with controversy over the inclusion of the initials of the sculptor who designed the coin, Victor David Brenner, on the reverse.

<span class="mw-page-title-main">1893-S Morgan dollar</span> Key date in the Morgan dollar series

1893-S Morgan dollar is a United States dollar coin struck in 1893 at the San Francisco Mint. It is the lowest mintage business strike Morgan dollar in the series. The 1893-S is considered to be a key date in the Morgan dollar series: examples of the coin in both mint state and in circulated condition are valuable.

References

  1. Barman, Scott (2 September 2019). Coin Collector's Handbook (91 ed.). United States: Lu lu. ISBN   978-0-359-89184-9. Archived from the original on 15 September 2023. Retrieved 12 September 2023.
  2. Treasures in Your Pocket (PDF). Colorado Springs, Colorado: American Numismatic Association. 2023. p. 5. Archived (PDF) from the original on 25 December 2022. Retrieved 12 September 2023.
  3. 1 2 3 "What Is A Key Date Coin? How Are Key Dates Different From Semi-Key Date Coins? And What Are Better-Date Coins?". Fun Times Guide. 2023. Archived from the original on 15 September 2023. Retrieved 12 September 2023.
  4. 1 2 Garrett, Jeff (6 June 2023). "Jeff Garrett: The Case for "Key Date" Coins". Coin Week. Archived from the original on 7 June 2023. Retrieved 12 September 2023.
  5. Reynolds, Greg (22 April 2015). "Classic U.S. Coins – Key Date Coins for Less Than $2,500 – Part 1: Copper". Coin Week. Archived from the original on 29 May 2023. Retrieved 12 September 2023.
  6. "1909 Lincoln V.D.B. Cent". Coin News. CoinNews Media Group LLC. Archived from the original on 18 February 2020. Retrieved 15 June 2022.
  7. "Key Date 1893-S Morgan Silver Dollar Offered at GreatCollections". Coin Week. 31 May 2019. Archived from the original on 6 June 2023. Retrieved 11 September 2023.
  8. Reynolds, Greg (15 October 2015). "CAC buys Eliasberg 1893-S Morgan Silver Dollar for $646,250 at auction in Las Vegas". Coin Week. Archived from the original on 29 May 2023. Retrieved 11 September 2023.
  9. Susan Headley (21 June 2017). "What Is a Key Date?". Archived from the original on 1 December 2017. Retrieved 17 November 2017.
  10. Barman, Scott (2 September 2019). Coin Collector's Handbook (164 ed.). United States: Lu lu. ISBN   978-0-359-89184-9. Archived from the original on 15 September 2023. Retrieved 12 September 2023.
  11. "Top 50 Most Commonly Counterfeited U.S. Coins". NGC Coin. Numismatic Guaranty Company. Archived from the original on 24 January 2023. Retrieved 11 September 2023.

Further reading