Grading 1959 Wheat Cent accidentally certified by ANACS back in 1973: The Difference Between $10 and $1,000

The Historical Context of This Unique 1959 Wheat Cent

When examining this 1959 Wheat cent accidentally certified by ANACS in 1973, we’re looking at a fascinating piece of numismatic history. The certificate number 5022 represents one of the earliest grading certifications from what would become a major third-party grading service. This predates the modern PCGS and NGC standards we use today, making it a significant artifact in the evolution of coin authentication.

Understanding the Original Certification Process

The 1973 ANACS certification process was considerably different from today’s rigorous standards. Back then, graders relied heavily on visual inspection under magnification, with less sophisticated equipment than what’s available today. The fact that this coin was initially certified as genuine speaks to the challenges graders faced in the early 1970s, particularly when dealing with potential alterations or counterfeits.

Wear Patterns and Surface Analysis

When evaluating a 1959 Wheat cent, the high points to examine include the wheat stalks on the reverse, the hair details on Lincoln’s bust, and the cheek and jaw areas. For this particular coin, understanding the wear patterns becomes crucial in determining whether it’s a genuine piece with altered date or a complete counterfeit.

Key Areas for Wear Assessment

The wheat stalks should show consistent wear if the coin has circulated. Look for flattening on the highest points of the wheat kernels and the central stalks. On the obverse, the hair above Lincoln’s ear and the bow tie are typically the first areas to show wear. The fields should be examined for any signs of tooling or resurfacing, which would indicate alteration.

Luster Quality and Strike Characteristics

1959 Wheat cents were struck at three mints: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The luster on these coins should be vibrant and cartwheel-like when rotated under light. For this particular piece, examining the luster quality can help determine if it’s been altered or is a counterfeit.

Strike Quality Indicators

Philadelphia strikes from 1959 typically show full detail on the wheat stalks and Lincoln’s portrait. The strike should be even across the entire surface, with no weakness in the central devices. Any weakness in strike, particularly on the high points, could indicate a counterfeit or altered coin. The edge should be reeded and consistent all the way around.

Eye Appeal and Overall Assessment

Eye appeal encompasses several factors: toning, contact marks, and overall preservation. For a 1959 cent, you’d expect to see either original mint luster or natural toning that developed over the past 60+ years. Any artificial toning or signs of cleaning would significantly impact the grade.

Modern Grading Standards vs. 1973 Standards

Today’s PCGS and NGC standards are far more stringent than what was used in 1973. A coin that might have received a higher grade back then could easily be downgraded under current scrutiny. This is particularly true for coins suspected of alteration or counterfeiting, where modern graders use advanced techniques like microscopic examination and specific gravity testing.

Authentication Markers and Security Features

Modern authentication involves checking multiple security features. For a 1959 cent, this includes examining the mint mark position (or lack thereof for Philadelphia strikes), the style of the date numerals, and the overall design details. The spacing between letters and the depth of the design elements are critical markers.

Common Alteration Points

Date alterations on Wheat cents often show up in specific areas. The junction between the 9 and 5, or attempts to change a 1958 to a 1959, can be detected by microscopic examination of the metal flow and surface texture. The pressure applied during alteration often leaves telltale signs in the surrounding fields.

Value Considerations and Market Impact

The value of a 1959 Wheat cent varies dramatically based on condition. In circulated grades, these coins are worth only their face value or slightly more. However, in mint state grades, particularly MS-65 and above, they can be worth $10-50. The key is determining the true grade and authenticity.

Investment Potential

While most 1959 cents have limited investment potential, rare varieties or error coins can be quite valuable. The difference between a common circulated piece worth $1 and a high-grade mint state example worth $100 represents the importance of proper grading and authentication.

Conclusion: The Importance of Professional Grading

This 1959 Wheat cent story highlights why professional grading remains essential in numismatics. The evolution from 1973 ANACS standards to today’s PCGS and NGC grading demonstrates how far the hobby has come in authentication and grading accuracy. Whether this particular coin resurfaces or not, it serves as a reminder of the importance of due diligence in coin collecting.

For collectors today, the lesson is clear: always seek coins graded by reputable third-party services, understand the grading standards, and be aware of the potential for altered or counterfeit coins. The difference between a $10 coin and a $1,000 coin often comes down to proper authentication and accurate grading.

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