The 1950 Lincoln Cent Proof holds a special place in coin collectors’ hearts, thanks to its historic value and unique design. The United States Mint had paused its Proof Set program during World War II, which resumed in 1950 after a long hiatus.
Unlike the earlier sets, the 1950 Proof Set featured only designs of American leaders, a change from the Liberty-inspired coins of previous years.The 1950 Proof Set included the Lincoln Wheat Cent, Jefferson Nickel, Roosevelt Dime, Washington Quarter, and Franklin Half Dollar.
This was also the first Proof Set in which coins like the dime, quarter, and half dollar were minted in .900 fine silver, adding value for collectors.
Invest Smart: Rare Coins Worth Over $1,000 You Need to Know About!
Quality and Challenges of the 1950 Lincoln Cent Proof
Among the 1950 Proof coins, the Lincoln Cent is noteworthy for its impressive strike quality. However, while the coins were struck with care, they faced a problem not with the coin itself, but with the storage method. The cellophane packaging used by the Mint degraded over time, becoming brittle and prone to cracking, which caused the coins to discolor and develop spots.
This deterioration is a significant concern for collectors today.Another challenge collectors encounter is the different finishes that can be found on these Proof coins. Some Lincoln Cents from this period exhibit a satin-like finish, which was not the Mint’s original intention.
Due to overuse of the dies, some Proofs lack the brilliant, mirror-like finish typical of earlier Proof coins. Most collectors prefer coins with a bright, cameo contrast, while satiny finishes tend to be less desirable.
Value of the 1950 Lincoln Cent Proof
As with all collectible coins, the value of the 1950 Lincoln Cent Proof depends heavily on its condition. Collectors can expect to pay between $40 and $60 for a well-preserved Proof Red coin in Choice (PR63) grade. Coins with the Cameo or Deep Cameo finish, which have stronger contrasts between the raised design and the background, fetch even higher prices.
For example, a 1950 Lincoln Cent graded NGC PR64BN with a rainbow-toned finish sold for $200.06 at auction.Certified coins are often recommended, as it can be challenging for non-experts to distinguish between Proof and circulation-strike coins. The two leading grading services, NGC and PCGS, have certified thousands of 1950 Lincoln Cent Proofs.
As of October 2024, NGC has graded 2,413 of these coins, with 21.96% receiving a Cameo designation, while PCGS has graded 2,615, with 15.33% receiving the Cameo designation.Proofs without Cameo are typically affordable, even in high grades. However, coins with Deep Cameo or Ultra Cameo finishes can be rare and command significant premiums. For example, an NGC PF68RD UCAM coin sold for a whopping $19,975 in 2017.
Collecting Tips and Considerations
When purchasing a 1950 Lincoln Cent Proof, it’s crucial to check the coin’s storage history, as improper storage can lead to unsightly spots and a loss of luster. Collectors are advised to purchase coins that are already certified by reputable grading services to avoid potential quality issues. Additionally, it is essential to research sellers before purchasing raw sets to ensure a fair deal.
Some collectors may find value in coins graded Brown due to their unique toning. These coins often have rainbow colors or vibrant patinas, making them visually striking. Even though they are labeled Brown, their colorful appearance can make them as valuable as their Red counterparts.
15 Incredible Rare Coins You Might Find in Your Change
Why the 1950 Lincoln Cent Proof Stands Out
The 1950 Lincoln Cent Proof stands out not only for its design but for its historical significance. It represents the first return of the Proof Set program after World War II and is part of the first Proof Set to feature only presidential portraits. With a mintage of 51,386, it remains a desirable piece for collectors.
The design of the Lincoln Wheat Cent, created by Victor David Brenner, features a portrait of Abraham Lincoln on the obverse, with the words IN GOD WE TRUST and LIBERTY inscribed. The reverse includes the classic Wheat Cent design, with two sheaths of wheat surrounding the words ONE CENT and UNITED STATES OF AMERICA.
Despite its age, the 1950 Lincoln Cent Proof is still accessible to collectors at various price points, making it an attractive choice for both new and seasoned collectors.