1961 Lincoln Memorial Cent Proof : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

When the United States Mint’s eight-year moratorium on Proof coin production ended in 1950, the size of the coin-collecting hobby had grown significantly. Sales of the 1950 Proof Set were more than double the sales of the 1942 set. By 1957, the Mint reported sales of over one million Proof Sets for the first time. For the next three years sales plateaued, but in 1961, demand skyrocketed and sales crept over three million for the first time, representing a 79% jump over the previous year’s figures. With the 1961 Lincoln Memorial Cent Proof mintage tied directly to the number of sets sold, the Mint struck 3,028,244 Proof cents that year.

As with all prior years, the 1961 Lincoln Cent Proof was available from the Mint only as part of the annual Proof Set. This set, containing all five circulation coins (the cent, the nickel, the dime, the quarter, and the half dollar), had a face value of 91 cents and was sold for $2.10 USD per unit. With packaging updated in 1955, collectors who purchased a set from the Mint would receive a yellow mailing envelope from the Treasury Department. Within this outer envelope was the familiar flat pack of Proof coins sealed in a cellophane film, each coin given its own compartment. Today, these sets can be easily acquired for between $26 and $32, with most of the set’s value tied directly to the intrinsic value of the set’s three silver coins.

1961 Lincoln Memorial Cent Proofs were individually struck with specially prepared dies and planchets. These processes gave the coins a brilliant, deeply mirrored finish. Some coins struck with fresh dies may exhibit frost on the devices, which stands in sharp contrast to the mirrored fields. The coins may qualify for the coveted Cameo or Deep Cameo designations with the appropriate degree of frost on both sides.

1961 Lincoln Memorial Cent Proofs with Cameo are quite scarce and Deep Cameo coins represent just under 2% of the total certified population. These coins sell for a significant premium over the typical brilliant 1961 Proof cent.

The 1961 Proof Lincoln Cent in Today’s Market

Aside from purchasing unopened Proof Sets and cherry-picking examples, there is more than enough stock to satisfy the collecting community’s demand for 1961 Proof cents.

As with all copper coins, the color designation is vital to the piece’s value. Virtually all non-Red designated pieces are not worth submitting for grading–unless they have exceptional characteristics and can reliably grade at least PR 67.  Even for RD cents, the issue is similar. Most coins, up to the highest grades (Proof 68 – Proof 69), are only worth $20 to $100.

Cameo (CAM) and Deep Cameo (DCAM) coins cross the grading cost threshold at roughly PR66 – PR67. In extremely high grades, DCAM and CAM pieces become slightly rare, with a total combined population (NGC and PCGS) of only 90 and 16 pieces graded as PR 69 CAM and DCAM, respectively. The difference, however, is that Cameo pieces graded Proof 68 and 69 sell for only $50 – $60 and $300 – $400, respectively, while DCAM in the same grades will fetch $400 – $500 and upwards of $4,000, respectively. This means there is a massive premium for the highest grade. In fact, the auction record for this type is held by an “essentially perfect” PR 69 DCAM sold by Stack’s Bowers on June 14, 2023, for $6,600. The previous record was $4,320.

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Market Data and Noteworthy Specimens

The PCGS PR69DCAM population has remained at 10 since at least Spring 2013. When looking at historical auction data and reverse-searching certification numbers at PCGS, we learn that five of these coins (#7003795 – #7003799) were part of a large Lincoln Cent submission that included many high-grade coins from multiple dates. Heritage Auctions, which typically dates their condition census information in lot descriptions, reported a population of eight as of June 2005. This was also the number published in the April 2006 printed issue of the PCGS Population Report. But by August 2008, the population had risen to nine. 

There are fewer NGC auction appearances to report. The earliest that we have located took place in September 2008. At the time of that sale, NGC reported just four in PF69UCAM. A recent sale at GreatCollections. A 2015 sale at GreatCollections that we do not include in our data set was slabbed in a more recent holder and is potentially one of the two coins added to their census after 2008.

NGC population of 4 as of December 2018. 

Top Population: PCGS PR69DCAM (10, 7/2024), NGC PF69UCAM (6, 7/2024), and CAC PR67RD (2:0 stickered:graded, 7/2024).

• PCGS PR69DCAM #26424463: Imaged on PCGS CoinFacts.
• PCGS PR69DCAM #70003799: ErasmusHall Registry Set.
• PCGS PR69DCAM #70003796: Stack’s Bowers, June 14, 2023, Lot 3020 – $6,600.
• PCGS PR69DCAM #12018021: “The MKJ Collection, Part II,” Heritage Auctions, June 2013, Lot 3817 – $3,055; Heritage Auctions, September 7, 2018, Lot 3385 – $4,320. Curved planchet flaw to the right of Lincoln’s chin. Tiny spot behind Lincoln’s head and another in the right obverse field between the nose and the second T of TRUST. Scattered light spotting on the reverse. Imaged on PCGS CoinFacts.
• PCGS PR69DCAM #26424463: Stack’s Bowers, June 2013, Lot 1104 – $2,585.
• NGC PF69UCAM #209219-001: Heritage Auctions, January 10, 2009, Lot 7570 – $920.
• NGC PF69UCAM #133658-013: Heritage Auctions, September 20, 2008, Lot 7536 – $1,035. Old holder.
• PCGS PR69DCAM #13424949: Heritage Auctions, September 17, 2008, Lot 510 – $4,025.
• PCGS PR69DCAM #70003795: “The William Bickel Collection, Part One,” Heritage Auctions, July 27, 2005, Lot 5367 – $3,450.
• PCGS PR69DCAM #70003797: Heritage Auctions, December 8, 2004, Lot 5435 – $3,220.
• PCGS PR69DCAM #70003798: Heritage Auctions, January 8, 2004, Lot 4941 – $2,415. Lintmark at the 19 digits of the date.
• PCGS PR69DCAM: “The John Troy #1 PCGS Registry Set Collection,” Heritage Auctions, January 8, 2004, Lot 4942 – $2,760. The coin image is not available on Heritage’s website.
• PCGS PR69DCAM #70096034: Heritage Auctions, September 17, 2002, Lot 15200 – $1,782.50.

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Design

Obverse:

The obverse of the 1961 Lincoln Cent was designed by sculptor Victor David Brenner, whose initials VDB appear in tiny print under the shoulder of President Abraham Lincoln’s bust (which dominates the front side of the coin). The right-facing profile of Lincoln shows the 16th president during his time as the nation’s commander-in-chief at the height of the Civil War, which spanned from 1861 through 1865, the latter being the year Lincoln was assassinated.

To the right of Lincoln is the date 1961. Since the coin was struck at the Philadelphia Mint, there is no mintmark. Behind Lincoln’s head is the inscription LIBERTY. Centered along the upper rim of the coin, in an arc over Lincoln’s head, is the motto IN GOD WE TRUST.

Reverse:

The reverse of the 1961 Proof Lincoln Memorial Cent is anchored by an elevation view of the iconic Washington, D.C. memorial dedicated to the iconic president. The relatively high detail of the Lincoln Memorial design is sharp enough to reveal a tiny visage of Lincoln sitting in his chair, replicating the 19-foot-tall statue visitors will encounter inside the actual monument, which was dedicated in 1922.

Below the image of the Lincoln Memorial is the coin’s denomination, ONE CENT, and along the top center of the rim is the legend UNITED STATES OF AMERICA. The motto E PLURIBUS UNUM is inscribed in two lines under the legend and above the Lincoln Memorial design. Designer Frank Gasparro’s initials FG are seen at the bottom right of the Lincoln Memorial, just above a shrub.

Edge:

The edge of the 1961 Lincoln Cent Proof is smooth or plain and without reeding – as are all other Lincoln Cents.

Designers

Lithuanian-born coin designer Victor David Brenner is best known for his iconic design for the Lincoln Cent (1909-Present) (View Designer’s Profile).

Frank Gasparro was an American medalist and coin designer. He joined the Mint’s Engraving Department in 1942 under John R. Sinnock and worked under Gilroy Roberts as Assistant Engraver. Gasparro succeeded Roberts as Chief Engraver of the U.S. Mint on February 23, 1965, and served until January 16, 1981. He died on September 29, 2001 (View Designer’s Profile).

Coin Specifications

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