Smart Buying Guide: How to Buy 1922 Plain Lincoln Cents Without Getting Ripped Off

Historical Significance

The 1922 Plain Lincoln Cent stands as one of the most captivating chapters in American numismatic history. Born from the Pittman Act of 1918, this coin’s story begins with the Treasury’s decision to melt over 270 million silver dollars, shipping the bullion to India to help pay British soldiers during World War I. This massive silver dollar production created a die shortage that rippled through all other denominations, including our humble cent.

For 1922, the Philadelphia Mint didn’t strike any cents for only the second time in its history (the other being 1815). All cents were produced at the Denver Mint, but worn dies with almost all their life polished out created the famous “No D” varieties. Understanding this history is crucial when evaluating these coins, as it explains why they exist and why they command premium prices.

Where to Buy 1922 Plain Lincoln Cents

Based on collector experiences, there are several reliable venues for acquiring 1922 Plain cents:

• Coin Shows: Local club shows offer the advantage of examining coins in person. One collector successfully purchased their EF-45 example at a local club coin show, emphasizing the value of face-to-face transactions.
• Dealer Networks: Established relationships with dealers can yield opportunities. One collector mentioned selling a 1922 Plain years ago to another dealer who kept making offers until they gave in.
• Online Marketplaces: While not specifically mentioned, platforms like eBay and dealer websites are common sources, though require extra diligence.
• Auction Houses: Heritage Auctions and similar venues often feature high-grade examples, though premiums may apply.

Red Flags to Watch For

Several warning signs emerged from collector discussions:

“The 1909-S-VDB was in the album, but I had it graded. You lose a lot on those coins when try to sell them raw. As a dealer I’d buy key date, frequently counterfeited coins raw if I knew they were real, but you to deduct the grading and shipping fees plus an allowance for ‘unpleasant grading surprises’ from the grading companies.”

This highlights several red flags:

• Raw Key Dates: The 1922 Plain, like the 1909-S VDB, is frequently counterfeited. Raw specimens carry significant risk.
• Questionable Grading: Be wary of coins with inconsistent grading history or those that seem to have been “cracked out” and resubmitted.
• Unusually Low Prices: If a deal seems too good to be true, it probably is. The 1922 Plain in EF-45 should command substantial premiums.

Negotiating Tips

Successful negotiation requires knowledge and patience:

• Know the Market: EF-45 to AU-50 is considered the “threshold grade” for 1922 Plain cents. Beyond this, prices increase dramatically.
• Consider Set Context: One collector wisely noted that “there is no need to go hog wild given the grades for the rest of the set.” Match the coin to your collection’s overall quality level.
• Build Relationships: Long-term relationships with dealers can lead to better deals and first access to quality specimens.
• Be Patient: One collector took 66 years to complete their set, demonstrating that rushing rarely leads to the best acquisitions.

Raw vs. Slabbed: Making the Right Choice

The slabbed vs. raw debate is particularly relevant for 1922 Plain cents:

Slabbed Advantages:

• Authentication by PCGS or NGC provides security for this frequently counterfeited date
• Easier to sell later without concerns about authenticity
• Professional grading provides objective quality assessment
• Better protection during storage and handling

Raw Advantages:

• Lower initial cost (no grading fees)
• Potential for finding undergraded specimens
• No waiting for grading turnaround

However, most experienced collectors recommend slabbing key dates like the 1922 Plain. One dealer noted they’d buy raw specimens only if they “knew they were real,” highlighting the expertise required to authenticate these coins safely.

Understanding Varieties and Completeness

An interesting debate emerged about whether the 1922 Plain should be considered part of a “complete” Lincoln cent set:

“I agree that the 22-plain shouldn’t be part of the date/mm set. It is a die state coin.”

However, most collectors include it, noting that traditional Whitman albums have included it since the 1950s. The 1909-S VDB is universally considered essential for a complete set, while the 1955 DDO is more optional depending on collector preference.

Current Market Values

While specific prices fluctuate, collectors noted that EF-45 to AU-50 represents the sweet spot for 1922 Plain cents. Beyond AU-50, prices increase substantially without necessarily providing proportional quality improvements. The obverse condition significantly impacts value, and collectors should match their purchase to their collection’s overall grade level.

Conclusion

Acquiring a 1922 Plain Lincoln Cent requires patience, knowledge, and careful consideration of authentication options. Whether you’re completing a 66-year journey like one dedicated collector or starting fresh, understanding the coin’s historical context, recognizing potential pitfalls, and making informed decisions about slabbing will help ensure a satisfying acquisition. Remember that while the 1922 Plain may be technically a “die state” variety rather than a true mint mark variety, its inclusion in traditional collections and its fascinating origin story make it an essential piece for most Lincoln cent enthusiasts.

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