1901 1c PR BN

1901 Cent Production: In 1901 the Mint again set a production record, breaking the previous year’s record. This is technically the first issue of the 20th century, but collectors prefer to group the 20th-century issues as all the coins dated “19—.” The third Philadelphia Mint opened for production this year. The building had a classical Roman temple façade. Massive Ionic columns led to a lobby with vaulted ceilings that were bejeweled with seven Tiffany glass mosaics. Today the building houses Philadelphia Community College. This improved facility allowed for a much higher production of cents.

Survivability: Very few coins were saved at the time of issue. A popular souvenir item that sold at events such as the 1901 Pan American Exposition (in Buffalo, New York) were newly issued cents encased in aluminum advertising cards. These came in a variety of styles and sayings, such as “Keep me for good luck.” These encased coins are collected quite actively today, and the encasements are worth much more with the original coins intact. Many times, though, the temptation to remove high-grade examples of Indian Head cents from these holders is too much for their owners. A coin, when removed from such a holder, is usually found to be slightly damaged from the encasing process. Part of an advertising design may be impressed into the rim of the coin, or it may be slightly bent.

Collecting Challenges: Search for problem-free examples. These are found with average to full strikes. Avoid coins damaged from being inserted in aluminum encasements.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is AU-50 to MS-63RB. These, like other issues of the 1900’s, are widely available.

Collecting Mint State Pieces: Available in most grades, the optimal collecting grade for the 1901 cent is MS-65RD. However, finding a problem free MS-65RD example may require some patience.

Collecting Proof Issues: These are available with some searching. Full red gems are scarce, as with all Proofs of this era. Cameos are available, but are very tough to find.

Many early-die-state examples from this date onward until 1907 show fine diepolishing lines across the whole face of the die, including the portrait. When the coin is turned in the light it will appear as if the coin has been wiped with an abrasive rag. As the coin is turned further the lines disappear and the coin shows very deep mirror fields. These are actually lines on the die that are transferred to the coin, and are desirable as the earliest die state of the dies. Most cameos will show these lines.

There are 20 varieties listed. Most are minor repunched dates.