Is Your 1959 Wheat Cent Real? How to Spot a Fake ANACS Certificate #5022

The ANACS 1959 Wheat Cent Certificate #5022: A Cautionary Tale

With counterfeits flooding the market, knowing the specific diagnostic points for this item is critical. The 1959 Wheat cent certified by ANACS back in 1973 under certificate #5022 represents one of the most fascinating authentication errors in modern numismatics.

Historical Significance

This case dates back to 1973 when ANACS (American Numismatic Association Certification Service) accidentally certified a 1959 Wheat cent as genuine. The certificate, numbered simply 5022 without any letter suffix, represents an early era of third-party grading when authentication processes were still being refined. The error was discovered in 1975 when the coin was examined at Collectors Clearinghouse, where it was determined that the date had been altered.

The certificate number is just 5022; there were no letters used then.

Identifying Key Markers

For authentication purposes, several critical factors must be examined when encountering a coin with this certificate:

• Weight Verification: A genuine 1959 Lincoln cent should weigh 3.11 grams. Any significant deviation suggests tampering or counterfeit materials.
• Magnetic Properties: These copper-plated zinc coins are not magnetic. If a magnet attracts the coin, it’s an immediate red flag.
• Die Markers: The 1959 date should show sharp, consistent lettering with no signs of tooling or re-engraving. Altered dates often reveal themselves through uneven letter spacing or inconsistent depth.
• Surface Examination: Look for signs of date alteration, particularly around the 9 and 5 in the date. Genuine strikes show uniform wear patterns across all devices.

Common Fakes and Modern Counterfeits

The discussion reveals that counterfeit versions of this certified coin have already appeared on marketplaces like AliExpress. Modern fakes often feature:

• “Copy” stamps that may be missing on the actual counterfeit received
• Incorrect weight specifications
• Improper magnetic properties
• Die markers that don’t match known genuine examples

It really is never too late to learn. I have no idea what terms and conditions submitters of coins were subject to, back then.

Testing Methods

Authentication experts recommend multiple testing approaches:

1. Scale Testing: Use a precision scale accurate to 0.01 grams
2. Magnet Test: Simple but effective first-line screening
3. Microscopic Examination: Check for tooling marks around the date
4. Die Variety Research: Compare with known genuine examples
5. Professional Authentication: Submit to reputable grading services

Value and Market Considerations

The original owner declared a value of only $300 when submitting the coin, which would have been the limit of ANACS’s liability. This highlights an important principle in coin authentication: declared values matter for guarantees.

Unless the owner paid a million, there is no liability at that level. TPG guarantees don’t cover imputed value, especially of a fake coin.

While some speculate the coin could be worth over $1 million if genuine, the altered date significantly reduces its value. The coin’s primary interest lies in its historical significance as an authentication error rather than its numismatic value.

Legal and Ethical Considerations

Several forum participants discussed whether ANACS could confiscate the coin. The consensus is clear: neither ANACS nor individual experts have legal authority to confiscate coins, even when they know them to be altered or counterfeit.

No, the owner declared a value of $300 when he submitted it. That would be the limit of their liability, if any.

Conclusion: The Hunt Continues

The 1959 Wheat cent with ANACS certificate #5022 remains an intriguing mystery in numismatics. While the original coin was identified as having an altered date, the certificate and coin combination still exists somewhere, potentially to surface in an estate sale or flea market.

For collectors and dealers, this case serves as a reminder of the importance of thorough authentication, the limitations of early third-party grading, and the need for vigilance when encountering coins with unusual certification histories. The story also demonstrates how authentication errors can become valuable learning tools for the entire numismatic community.

Whether you’re a seasoned collector or new to the hobby, understanding the specific diagnostic points for items like this 1959 Wheat cent can protect you from costly mistakes and help preserve the integrity of the numismatic marketplace.

Related Resources

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