1908-S 1c MS RB

1908-S Cent Production: This cent is important as being the first minor coinage struck at a branch mint. The San Francisco Mint, nicknamed The Granite Lady, was built in 1874 and had survived the great earthquake of the morning of April 18, 1906, with just slight damage. The fire that raged on all sides of the building later on that day blackened the stone and buckled the heavy iron shutters. The fire destroyed most of the city, but the mint was spared destruction because it had its own well that firefighters could tap into.

In years prior to the earthquake and subsequent economic hardships, gold and silver coins were the only coinage used in the Western states. Transactions were rounded to the nearest 5¢. Now, due to changes in the economy (brought on in part by the relative ease of railroad travel from the East), it was desirable to have the cent denomination available so that prices could be increased in smaller increments. The introduction of a sales tax alone necessitated the use of the cent. In addition, the streetcar fare was raised from 5¢ to 6¢.

The Mint delivered the entire mintage of coins on November 27. These were struck on presses used for silver coinage, as the two presses for cent production were not yet delivered. This is the third-lowest mintage of the Indian Head cent series. Planchet stock for this year was often improperly mixed, so the coins vary with either woodgrain toning or a bright golden color.

Survivability: The new cents were certainly a curiosity to the local population, and initially circulated widely. Later, by the time the new Lincoln design became dominant, the general public selectively removed the Indian Head cents from circulation. There seems to have been no initial interest in saving these coins before they entered circulation. Today, the coins are scarce in low grades, but available in mid-range grades, most being Fine to Very Fine. Mint State survivors are very scarce overall. The chance survival of a few roll quantities has made gem full red examples somewhat readily available. Many of these come from a roll that had a filled final A in AMERICA on the obverse.

Collecting Challenges: These cents are scarce and popular, so demand is high. Many come with weak feather tips. Search for fully struck examples.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is AU-50 to AU-58. There is not a great difference in prices between coins graded Good to Very Fine. For collectors on a budget it is worthwhile to buy the highest grade with the price jumping less than 50%. For example, a Fine coin lists for $85, a Very Fine at $100, and an Extremely Fine at $150. The extra $15 to buy the Very Fine will give you a lot more value for the money than would the extra $50 to buy the Extremely Fine. On the other hand, the best advice is always to buy the best coin you can afford that fits your collection.

Collecting Mint State Pieces: The optimal collecting grade for Mint State coins is MS-65RB or MS-64RD. It might be diffcult to find coins with full feather tips. Take extra time to search these out. These come with woodgrain toning, which is acceptable for red-brown graded coins. Full red coins should be struck on evenly colored planchets. Many full red coins are of a lighter golden color. Some original coins might easily be mistaken as being cleaned if compared to their Philadelphia Mint contemporaries. Occasionally prooflike examples are available. These are highly desired and are worth an additional premium.

A repunched mintmark, Snow-1, is known for this date. The repunching is to the south and is visible in the upper part of the S. Many other repunched dates have been reported but all others have turned out to be caused by strike doubling. When the lower die (anvil die) is loose in the press it can move slightly when the coin is struck. This action leaves a microscopic outline on the design elements in one direction. (The clue to detecting strike 1908-S, S Over S, Snow-1 doubling: the doubling is seen on the mintmark as well as on some of the surrounding design elements. Since the mintmark is added to the die separately from the design element, it cannot be a repunched mintmark.)