Alternative Materials for One Cent Coinage (1973)

While combing the stacks at Washington University in St. Louis, we recently discovered a 1973 government publication discussing alternative compositions for the Lincoln cent. The study, Alternative Materials for One Cent Coinage, was initiated in response to rising copper prices, as the Treasury was well aware of the consequences of intrinsic value exceeding the face value of coinage. Seemingly every citizen was searching pocket change for pre-1965 silver coins that could easily be sold at a premium to the local coin dealer.  Had copper similarly risen in value, Lincoln cents would have disappeared from circulation, only exacerbating the government’s financial loss on their manufacture.Such publications were not marketed within the numismatic community as were the commercial publications of Krause, Whitman, and others. Individual researchers located them by chance, or perhaps they showed up occasionally in the inventories of numismatic booksellers, although a Newman Portal search of Fred Lake’s literature sales (125 in all) fails to locate even  a single copy of this publication. The work itself considers copper-zinc alloys, aluminum, steel, zinc, and even plastic, discussing the strengths and weaknesses of each. Copper prices dropped in the mid-70s, coincident with the recession, but strengthened at the end of the decade along with precious metals. This time, action was taken, and the cent composition changed during 1982 to 95% zinc, along with a weight reduction from 3.1 to 2.5 grams. Today, pre-1982 cents contain roughly 2 cents worth of copper, though it is illegal to melt them. Many speculate this restriction will be lifted if the Mint discontinues the one-cent coin.Link to Alternative Materials for One Cent Coinage on Newman Portal:  https://nnp.wustl.edu/library/book/537183