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1982 Coinage Keeps Collectors On their Toes

by Joshua McMorrow-Hernandez

released on November 2, 2018

Click image to enlarge.

1982 was a busy year… Meanwhile, the United says Mint to be transitioning right into a brand-new period that lugged the an initial commemorative coins in nearly three decades, a revamped steel composition for the one-cent coin, and also several scarce and beneficial errors.

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Editor’s Note: This articleis featuredin the autumn 2018 CPG Coin & money Market Review

1982 was a liven year… A crushing recession walloped Americans, EPCOT facility opened at Disney human being in Florida, Michael Jackson’s Thriller album was released come rave reviews, E.T. The Extra Terrestrial relocated audiences to tears end the story about a young boy and also his alien friend, and also TV collection Cheers welcomed countless Americans come the quaint Boston bar whereby “everyone knows her name.” Meanwhile, the United claims Mint was transitioning into a new period that lugged the first commemorative coins in almost three decades, a revamped metal composition for the one-cent coin, and several scarce and an important errors.

It was a period of stark financial realities for numerous Americans. Ronald Reagan take it the reins indigenous single-term chairman Jimmy Carter a year previously in 1981 amid socio-political tumult ~ above the residential front and also overseas. Farming tensions in the middle East overcame news headlines while Cold battle struggles between the unified States and also the Soviet Union continued. Back on the home front, the economy had never ever really recovered native the “stagflation” that the mid 1970s. The slow-moving economy, saddled with double-digit inflation for lot of the duration spanning from 1973 with 1981 and relatively high unemployment prices hovering between 6% and 8% because that that same timeframe, had in 1982 edged the country into negative economic development (-1.8% gross residential product, the worst showing since 1946) and a 10% unemployment rate – the highest because the tail end of the an excellent Depression in 1940.

Early Reagan-era Federal budget cuts amid the recession intended layoffs because that thousands of government workers, including countless who worked at the United states Mint. This brought about a temporary end for the manufacturing of uncirculated mint sets, which had been issued essentially every year due to the fact that 1947. However, federal government layoffs didn’t hinder the launch of the an initial official United says commemorative coin since 1954; the 1982 George Washington half dollar, the first 90% silver coin to win in the U.S. Since 1964, to be widely well-known with hobbyists and ushered in a brand-new era the commemorative coinage that continues today.

In enhancement to the 1982 George Washington commemorative half dollar, there were numerous other noteworthy coins that caught the attention of numismatists from coast to coast. The Lincoln cent came to be the challenge of sweeping adjust at the U.S Mint as the production of copper “pennies” involved an end. Because of rising copper prices, the united States government scrapped the timeless copper-based composition for the one-cent coin, made from 95% copper and 5% zinc, in favor of a less-expensive copper-plated zinc format. The first copper-plated zinc cents, bearing a 97.5% zinc and 2.5% copper composition, to be struck in ~ the West suggest Mint top top January 7, 1982 without mintmarks.

By the finish of 1982, the new zinc-based composition had been phased in for all circulating cents, but not prior to both the Philadelphia and also Denver Mint switched up Lincoln cent dies, resulting through the manufacturing of large- and also small-date ranges from both mints across the outgoing and also incoming steel formats. Over there were 7 regular-issue business-strike varieties of Lincoln cents in 1982, including three bronze cents (1982 large date, 1982 tiny date, and also 1982-D big date) four copper-plated zinc cent (1982 huge date, 1982 small date, 1982-D big date, and 1982 little date), and also the 1982-S proof cent, all examples of which were made in the traditional bronze format. That course, transitional errors room wont come occur during periods the compositional readjust at the mint, and also 1982 Lincoln cents are no exception. In November 2016, Minnesota coin collector Paul Malone discovered a 1982-D small date cent win on a bronze planchet. The rare error coin was certified by Numismatic Guaranty copy, group (NGC) in February 2017 with a class of AU58 BN and also sold because that $18,800 in ~ the Stack’s Bowers Rarities Night sale of respectable 3, 2017 in ~ the American Numismatic Association’s world’s Fair of Money in Denver.

It may have taken 34 year to uncover the very first (and, therefore far, only) 1982-D small date bronze cent, however it took simply weeks for collectors to identify one more important 1982 error variety. In 1982, the placement of Philadelphia “P” mintmarks top top the obverse that dimes was a relatively brand-new concept, beginning only 2 years previously in 1980 once the custom of place a “P” ~ above the obverses of all Philadelphia coins better in denomination 보다 one cent started. Yet, the an initial no-P mintmark error surfaced prior to the end of 1982, once several thousands 1982 Philadelphia dimes to be mistakenly developed sans the obverse “P” mintmark. Most of the coins originally turned up in December 1982 roughly Sandusky, Ohio, with plenty of of these error ranges surfacing in change given out at the city’s famed Cedar allude amusement park. 1982 no-mintmark dimes exist with strong strikes and also weak strikes, and also premiums are paid for examples containing complete torch bands on the reverse. Uncirculated specimens profession for roughly $225 in MS65, though even circulated examples command prices varying from $50 come $100 in qualities ranging from XF v AU.

Another far-reaching Philadelphia-minted error variety involving lacking letters occurred in 1982 v the production of Kennedy halves there is no the “FG” initials of candid Gasparro, who designed the presidential seal motif top top the reverse of the fifty percent dollar. This scarce error fifty percent dollars, lacking the small “FG” initials in between the left leg and also tail feathers of the heraldic eagle, room traded for about $80 in MS65.

Even through this fairly sizable list of errors and varieties native 1982, there is yet an ext for coin enthusiasts to look for from this an especially eventful year in United says coinage. Because of the lack of United states mint sets and also the recession that the at an early stage 1980s, uncirculated 1982 U.S. Coinage is reasonably scarce. Dire economic circumstances made it financially infeasible for plenty of individuals to save rolls and bag amounts of brand-new circulating 1982 coinage (a situation reflected especially amongst the “workhorse” denominations – dimes and quarters). And, v no official mint set made throughout that period, the only official mint assets containing uncirculated business-strike coinage from 1982 are the souvenir to adjust containing one instance of the Lincoln cent, Jefferson nickel, Roosevelt dime, Washington quarter, and Kennedy half dollar from either the Philadelphia or Denver mint. These souvenir sets were marketed at their corresponding mint’s gift shops during the year of production for $4 each. Today, 1982 Philadelphia Mint and also Denver Mint souvenir sets profession for in between $35 and $50 each. This no a fairly steep price tag given that only around 10,000 souvenir set were offered at the Philadelphia Mint in 1982 and just 20,000 were spread from the Denver Mint. 1982 souvenir sets room in high demand as void fillers in mint set date-run collections and also as resources of uncirculated coinage native the period.

Collectors and dealers need to be mindful of the privately assembled uncirculated sets native 1982. Number of commercial ventures marketed these “put-together” uncirculated sets, including Krause Publications and Paul & Judy’s Coins in Illinois. While this sets offer briskly in the second market and also trade because that the cumulative value of the coins consisted of within, real 1982 Philadelphia and also Denver Mint souvenir sets are the many sought-after uncirculated coin products from the era. Official souvenir sets are packaged in six-pocket pliable cellophane packages comprise one example of each denomination and also a copper medal depicting the particular mint facility that assembled the set. The Philadelphia souvenir sets space packaged in light blue outer envelopes when the comparable Denver Mint providing comes in a dark blue external envelope.

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All things considered, 1982 to be an exciting year because that coin enthusiasts, who have actually much to gain from the coinage and also coin commodities of that time. Perhaps this comes as a pleasant surprised to part collectors who believe the us Mint “stopped developing anything good” after ~ 1964, once production of 90% silver- circulating coins wound down. Together the colorful selection of 1982 errors, varieties, and other novelties prove, there is much joy to be uncovered with modern coinage – girlfriend just need to know what come look for.