Smart Buying Guide: How to Buy Lincolns before 1982 Without Getting Ripped Off

Historical Significance

Lincoln cents before 1982 represent a fascinating chapter in American coinage history. These copper-based pennies were minted from 1909 to 1982, with a pivotal composition change occurring mid-year in 1982. The pre-1982 cents contain 95% copper and 5% zinc, giving them a distinct reddish-brown appearance and substantial weight compared to modern zinc-based cents. This era captures the evolution of American coinage from the early 20th century through the Reagan administration.

Identifying Key Markers

When shopping for pre-1982 Lincolns, there are several key markers to look for. First, check the date – any cent dated 1982 or earlier is potentially copper. However, be aware that some 1982 cents were minted in zinc, so you’ll need to weigh them to be certain. Copper cents weigh approximately 3.11 grams, while zinc cents weigh about 2.5 grams. Pay attention to mint marks as well. Cents were produced at Philadelphia (no mint mark), Denver (D), and San Francisco (S). While most pre-1982 Lincolns are common and worth only their copper value, certain dates and mint marks can be quite valuable to collectors. Key dates include the 1909-S VDB, 1914-D, and 1931-S, among others.

Where to Buy

The best places to acquire pre-1982 Lincolns include:

• Bank rolls – still the most cost-effective method at face value
• Local coin shops – often sell by the pound at a slight premium
• Online marketplaces like eBay – convenient but requires careful vetting
• Coin shows – good for finding bulk lots and networking with sellers
• Garage sales and estate sales – occasional finds but hit-or-miss

Red Flags to Watch For

When buying pre-1982 Lincolns, be cautious of these potential issues:

• Counterfeit dates – some zinc cents have had dates altered to appear older
• Corroded coins – improper storage can lead to pitting and discoloration
• Overpriced lots – some sellers dramatically inflate the “copper value”
• Unrealistic promises – be skeptical of claims about guaranteed future value
• Missing key varieties – some sellers may separate out valuable dates before selling

Negotiating Tips

To get the best deals on pre-1982 Lincolns:

• Buy in bulk when possible – volume discounts are common
• Build relationships with local dealers for better pricing
• Be prepared to walk away if the price isn’t right
• Know the current copper value so you can spot good deals
• Consider trading other coins you have for bulk lots

Raw vs. Slabbed

For pre-1982 Lincolns, the decision between raw and slabbed coins depends on your goals:

Raw coins are typically what you’ll encounter when buying in bulk. They’re fine for copper value plays or if you’re searching for varieties. However, raw coins require you to verify authenticity and grade.

Slabbed coins have been professionally graded and authenticated. While more expensive, they’re worth considering for:

• Key date coins where authenticity matters
• High-grade examples for your collection
• Coins you might want to sell in the future

Most pre-1982 Lincolns in circulated condition don’t need to be slabbed, as the cost of grading would exceed their value. Save slabbing for exceptional coins or those you’re certain have significant numismatic value beyond their metal content.

Market Analysis

The market for pre-1982 Lincolns is driven by two factors: copper value and numismatic interest. Currently, the copper content gives these coins a floor value of around 2-3 cents each, though this fluctuates with commodity prices.

Nationally, there’s a split between collectors who save these coins for their copper content and those who see it as impractical. The reality is that while copper value provides some inherent worth, the numismatic market for common-date pre-1982 Lincolns remains limited.

Smart buyers focus on acquiring these coins at or near their copper value, recognizing that significant appreciation is unlikely without a change in melting regulations or a dramatic increase in copper prices.

Storage and Preservation

If you do acquire a substantial quantity of pre-1982 Lincolns, proper storage is essential:

• Use plastic tubes or canvas bags rather than glass jars (which can break)
• Store in a cool, dry place away from humidity
• Avoid mixing different date ranges if you’re sorting by composition
• Consider the weight – a five-gallon bucket of cents weighs approximately 180 pounds

Conclusion

Buying pre-1982 Lincolns can be a worthwhile endeavor if approached with realistic expectations. These coins offer a tangible connection to American history and a modest hedge against inflation through their copper content. However, they should not be viewed as a get-rich-quick scheme or a replacement for traditional investments.

The most successful buyers treat these coins as both a collecting pursuit and a long-term holding strategy. By understanding the market, knowing where to buy, and being able to spot good deals, you can build an interesting and potentially valuable collection of these historic coins. Just remember that the true value often lies in the hunt itself rather than the financial return.

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