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Replies: 24 / Views: 5,751 |
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Pillar of the Community
United States
3499 Posts |
I have a question relating to the length of time that large cents stayed in circulation after 1857. I know that that was the year of a currency reform and that all foreign coins were demonetized. How long would a large cent, say an 1851, have actually circulated?
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Valued Member
United States
346 Posts |
Huh, that's really a good question. I myself have no idea, but it would be interesting to know.
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Rest in Peace
United States
5375 Posts |
Given that not many went down to G condition in the later dates, I'd say around 20-30 years. This is probably because the copper value was worth a substantial amount at some point in time.
The earlier ones circulated for much longer.
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Pillar of the Community
United States
581 Posts |
I will look for the references, but I've seen where large cents circulated up to World War 1. "Coin collecting" wasn't that popular - people literally needed every penny. Heck, I remember getting Buffalo nickels in the mid 1960's - over 25 years after they had stopped being minted.
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Bedrock of the Community
United States
17884 Posts |
It depend on what you mean by "circulate". If you mean that one would occasionally turn up in circulation, then yes I can see them circulating up to World War I. And by those same standards Indian Head cents, and Mercury dimes are still circulating today. Now if you mean that they commonly showed up in everyday commerce, then I would say they probably didn't circulate much later than the early 1860's. By the mid 1850's they were already worth more than their face value in copper. After the small cents were introduced the unpopular large cents had another large circulation disincentive, nf then when the Civil War broke out and all the gold silver and finally coppernickel coins disappeared, I'm sure the big copper cents were deffinitely hoarded as well and not circulated. By the time minor coins returned to common usage in the 1870's the large cent would have been so out of place that I doubt if many ever entered circulation again.
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Pillar of the Community
United States
581 Posts |
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Valued Member
United States
69 Posts |
VERY interesting article Kabiye_Lady. Thanks!
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Moderator
 United States
187702 Posts |
 Thanks for the link! 
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Bedrock of the Community
United States
20753 Posts |
All such articles are interesting but seldom written by individuals that really know the true facts. Sort of like the weather people. Just reporting things they have read or researched. I say this due to way, way back when I was a kid my Dad had a gas station and in a fairly poor area. So many of the customers paid in change. Naturally gasoline was so cheap it didn't take much change to fill up anyway. This was in the early 40's. And I was starting to become interested in coins. We received large cents even then. A friend of my Dad's worked in a place that took in masses of change but I can't remember what it was and large cents were still being taken in. Mostly the problems started with the coming of vending machines that required a penny and only the small ones would fit so the large ones just accumulated until they were taken to a bank. So as far as I'm conserned the large cents were still being used until the 1940's around me at least.
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Moderator
 United States
187702 Posts |
Quote: So as far as I'm conserned the Large Cents were still being used until the 1940's around me at least. This is one reason why CCF is great; real people with real stories!  Did you happen to keep a few of the large cents for your own collection? 
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Pillar of the Community
United States
2589 Posts |
I actually pulled a large cent from circulation this year, I found one stuck in a coin machine at the bank I work at.
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Pillar of the Community
United States
2540 Posts |
The large cents were supposed to be pulled from circulation upon the release of the Flying Eagle cents, to be melted for the copper. They did continue to circulate for about a decade after that, but people did turn them in for the new small coins.
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Pillar of the Community
United States
1801 Posts |
My family history supports them showing up in circulation occasionally up until WWII. My grandfather owned a restaurant/ bar up until WWII started and my father remembers pulling out large cents from the cash drawer and giving them to my great uncle who saved them. When the uncle died in about 1967 there were still about 100 of them in a jar in his closet. About 50 of those now sit in a jar in my gun safe. No rare dates and mostly very low grade but I have an emotional attachment to them.
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Pillar of the Community
 United States
3499 Posts |
Wow, very interesting stories, everyone!
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Valued Member
United States
346 Posts |
Yeah, very interesting. I can't even fathom receiving a Large Cent in change in this day and age.
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Bedrock of the Community
United States
20753 Posts |
Quote: This is one reason why CCF is great; real people with real stories! Did you happen to keep a few of the Large Cents for your own collection?
Yes I did save some of them. My Dad is gone now so I can admit I kept lots of coins from back then. When school was out I used to go to the gas station and help out at the end of the day by counting all his change. By the time the Roosevelt dimes became popular, I already had a completed set of Mercury dimes and my Dad never knew where they came from. My Mom did and told me not to tell him or they would all go to a bank where money belongs. Those large Cents were OK for me to keep since none of the machines would take them and my Mom told my Dad the banks didn't want them either. Sure wish I could go back there and tell my Dad that all change is no good so I'll just keep it all. I think that would have gotten me a few good smacks with a belt though.
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Replies: 24 / Views: 5,751 |