The V.D.B Controversy

On August 2, 1909 people began lining up to get their hands on the freshly minted Lincoln Cent that was to replace the Indian Head Cent.  There was such demand for this coin because it was the first American coin to feature a real historical person on its obverse, and Abraham Lincoln at that (see our previous blog “The Lincoln Wheat Cent”).  Three days after the coin’s release, it was pulled back off the presses amid controversy about the size of the artist’s initials on the reverse. Although no one really knows for sure what happened, there has been much speculation about this event.

From the day Victor David Brenner was tasked by President Roosevelt to redesign the penny, Chief Engraver Charles Barber had an issue.  Barber did not like the idea of working with an outsider who had nothing more than sculpting experience. Some say Barber was jealous because Brenner’s design was selected over his own.

In June of 1909, the final design was approved by both Barber and Treasury Secretary Franklin MacVeagh, including approval of the initials V.D.B along the bottom of the reverse.  In fact, Barber encouraged Brenner to include his initials and refused to let him use a more discrete “B” placed somewhere else.

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The day of the coin’s release, rumors started circulating about the placement of the initials.  Some believe a jealous Barber went behind Brenner’s back and began accusing him of being too vain.  Because Brenner was paid for his work, he should not have felt the need to put his initials in such a prominent place on the coin, if at all.  Others have said it was the public that raised a fuss because the initials were simply too big.  Another group of people felt the whole discussion was ridiculous. Adding the artists initials to a coin was a long standing tradition, dating back to ancient Greece.  In fact, the latest gold piece designed by Augustus St. Gaudens and released in 1907 had his initials in the field, on the reverse.

Regardless of the facts, the coin was pulled off the presses on August 5th until a compromise could be struck. Either the initials could be removed all together, the V and D could be removed, simply leaving the B, or the V.D.B could be moved to a more discreet location.  Despite objection from Brenner, the first option was selected as Barber argued any of the other options would take much too long.

During the halt in production, rumor spread that the government was going to recall all the pennies with the V.D.B initials. This caused a bit of a craze as people began hoarding the already in demand coin.

On August 12, 1909 the Lincoln Cent hit the presses once again, this time with no initials, and by the end of the year, supply had finally caught up with demand.

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Barber passed away in 1917 and the issue of the initials was revisited shortly there after.  In 1918, the initials V.D.B were restored to the coin, this time on the obverse, at the bottom of the Lincoln bust, near the rim of the coin.  They remain there to this day.

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Not only did this controversy affect the general public, but the coin collecting community as well.  While there were 28 million 1909 V.D.B cents minted at the Philadelphia mint, there were only 484.000 minted in San Francisco.  These 1909 S V.D.B cents became very popular and still are, selling for several thousand dollars a piece in mint condition.

Image courtesy of CCF Numismatics [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

Image courtesy of CCF Numismatics [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

Check out all the Lincoln Wheat cents we have available on Ebay and our website and see if you can spot the 4 different varieties:

1909 V.D.B with no mint mark (minted in Philadelphia)

1909 S V.D.B (minted in San Fransisco-highly collectible)

1909-1917 with no initials

1918-1958 discrete V.D.B on the bottom of Lincoln’s bust

The Saint-Gaudens Double Eagle Coin

One of the most beautiful coins in the world is the double eagle, produced 1907-1933.

As we’ve discussed in another article, President Theodore Roosevelt considered American coins to be ugly; he wanted to beautify them. A sculptor named Saint-Gauden played a key role in the process with his double eagle design.

He designed the figure of Liberty, representing victory, on the inspiration of the sculpture Winged Victory of Samothrace.

His high relief design created some problems for coin production. There were simply too many elements to keep track of on the coin. But Saint-Gaudens himself said of the continual redesign, “I will stick at it, even unto death.”

The coins obverse.

The coin’s obverse.

Saint-Gauden got sick starting in 1906 and sent assistants in place of himself to work out the details on the coin. Unfortunately, he passed away in 1907 before he saw his design reach production.

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But finally the design did see production, though with a low relief interpretation (save a few select high relief coins).

Upon the coin’s release, controversy stirred: the obverse lacked the words “In God We Trust”. Roosevelt had requested the phrase’s omission from coins from the opinion that some coins are spent to further criminal activities, thus debasing God’s name. However, the outcry at the omission led to the addition of the phrase by Congress.

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A coin with no “In God We Trust” on the bottom.

Despite the difficulties behind the design, President Roosevelt was greatly pleased with the resulting coin. He wrote to a friend, “…It is the best coin that has been struck for two thousand years, and that no matter what is its temporary fate, it will serve as a model for future coin makers…”

Today, the Saint-Gaudens double eagle is considered to be one of the most beautiful coins in existence. A double eagle with the omitted “In God We Trust” is an incredibly rare find.

Farley’s Follies

James A. Farley was the Postmaster General during the 1930s, but that’s not the only thing he’s remembered for. In the stamp collecting world he’s known for his “Farley’s Follies.”

It’s worth mentioning that Farley himself was not a stamp collector, and so probably had no idea of the ruckus he was about to cause.

During his time as Postmaster General, Farley bought a number of imperforated and ungummed stamp sheets with his own money. He signed the margins of the sheets, as did President Roosevelt. The first sheet went to FDR himself, an avid stamp collector; another went to Interior Secretary Harold Ickes, also a stamp collector; and the rest went to Farley’s family as well as friends of the Administration.

James A. Farley during National Air Mail Week in 1938, marking the 20th anniversary of the first scheduled airmail service.

James A. Farley during National Air Mail Week in 1938, marking the 20th anniversary of the first scheduled airmail service.

Unfortunately for Farley, some of these sheets found their way to the market as high-priced rarities.

Enraged stamp collectors protested, as did political opponents. They spoke accusations of corruption and lobbied Congress.3cNewburgh

To prevent the pot from boiling over, Farley ordered the twenty sheets of unfinished stamps he’d signed to be reprinted and available for stamp collectors to buy. These sheets were printed in 1935, earning the nickname “Farley’s Follies.” The sheets are, however, far from rare.

Many years ago, Farley himself donated fifteen of the original signed sheets to the Smithsonian Institution for viewing.

A slight mess-up for an otherwise brilliant businessman, Farley quickly saved his reputation and created another story for the stamp collecting world.