There have many different pennies over the years, since the term implies a one-cent piece.  But American pennies are the most popular among collectors today, and that is what we will be focusing on here.  This one-cent coin was the first authorized form of currency in the U.S., and its name was derived from the British “pence.”  Since its inception, over 300 billion pennies have been minted.

There have been 11 different designs, and the first, designed by Benjamin Franklin, was struck in a private mint in 1787, and was called the Fugio cent.  It was made of pure copper, and Paul Revere, who was a blacksmith at the time, provided some of the copper for some of the early pennies.

Indian Head Cents – 1859

The most notable cent after Benjamin Franklin’s is the Indian Head Cent.  The U.S. government began producing a new one-cent coin in 1859 – the Indian Head Penny – and this was produced until the Lincoln Cent replaced it in 1909.  James B. Longacre created the obverse design of the Liberty head in full Indian headdress.  The reverse had the denomination and a laurel wreath surrounding the words “one cent.”  After 1859, the laurel wreath was replaced with oak leaves and a small shield was added to the top of the reverse. 

Except for a few coins minted in San Francisco from 1908 to 1909, all Indian head pennies were minted in Philadelphia.  The ones minted in San Francisco have an “S” mark at the bottom of the reverse of the coins, while the Philadelphia ones have no mint marks.  The “S” marked Indian cents are scarcer and more valuable than the others.

The Lincoln Cent – 1909

This was the first portrait coin of the U.S., and noted sculptor Victor David Brenner designed the portrait of Abraham Lincoln for the penny.  The penny also had the date inscribed on it, as well as “LIBERTY” and for the first time on a one-cent piece, “IN GOD WE TRUST.”  This term was authorized by an Act passed during Lincoln’s presidency.

The Wheat Penny – 1909

A Lincoln cent without the term “IN GOD WE TRUST” was also approved in 1909 – this was a penny that bore two heads of wheat, between which are the denomination and the term “UNITED STATES OF AMERICA.”  The upper border contains the American national motto, “E PLURIBUS UNUM,” meaning “One out of Many.” 

The designer’s name was on the original model, but fearing that it would be too prominent, only his initials, VDB, were pressed in the first release.   This still seemed too distracting, so the initials were removed completely until 1918 when they were added back but in very small print just under Lincoln’s shoulder. 

Due to limited metals in WWII, the now 95% copper, 5% tin and zinc combination was changed.  These metals were needed for the war and the mint was forced to find a substitute.  After considering a number of options, even plastics, zinc-coated steel was the final choice.

The Steel Cent – 1943

And thus the steel cent entered the scene.  It consisted of low grade carbon steel wit a .005 inch thick zinc coating to prevent rust.

The Memorial Cent – 1959

To celebrate the 150^th anniversary of Lincoln’s birth, the U.S. mint issued a memorial cent on February 12, 1959.  Frank Gasparro, the Assistant Engraver at the Philadelphia Mint, submitted a design to be placed on the reverse of the penny, and his was chosen over 22 other designs submitted by Mint employees. 

At the center of the design is the Lincoln memorial, with the terms “E PLURIBUS UNUM” and “UNITED STATES OF AMERICA” as well as the denomination.  The designer’s initials, FG, appear near the shrubbery on the right. 

Changes over the Years

From this point on, the basic design would stay the same, but small changes would be made.  This is why so many people today like to collect as many “Lincoln Cents” sets as possible, to have a visible reminder of the penny’s transformations over years of American history.

Related posts:

1. The Nickel Coin
2. Dimes
3. The History of the Quarter
4. Collecting Antique Coins
5. Valuable Coins

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