What Does “FG” on the Lincoln Memorial Cent Mean?

Have you ever wondered what the little “FG” means on the reverse of the Lincoln Memorial Cent? This alphabetical binary sits just to the right of the Lincoln Memorial edifice, immediately above the shrubbery surrounding the Washington, D.C., monument as portrayed on the coin. But those characters aren’t any kind of mintmark or secret code. Rather, they are two letters symbolizing the initials of one of the most important artistic minds at the United States Mint during the latter half of the 20th century.

Lincoln Cent (Modern), 1959 1C, RD, PCGS MS67+RD. Click image to enlarge.

The Man Behind the Letters

The letters “FG” stand for none other than Frank Gasparro, who joined the U.S. Mint in 1942 and originally served under Chief Engraver John R. Sinnock. Gasparro rose through the ranks as a numismatic artist and eventually became chief engraver months after Gilroy Roberts retired from that role in 1964. On February 23, 1965, Gasparro became the U.S. Mint’s 10th chief engraver and by that time had already notched several notable career achievements, including the creation of many medals and designing the reverses of the Lincoln Cent in 1959 and Kennedy Half Dollar in 1964.

He went on to add many more accomplishments to his resume, including designing the obverses and reverses of both the Eisenhower Dollar and Susan B. Anthony Dollar in 1971 and 1979, respectively. The Philadelphia native retired in 1981 after an illustrious 39-year career at the U.S. Mint, becoming just the second chief engraver (following his immediate predecessor, Roberts) to retire from that key position rather than passing away while in office. The gifted Gasparro lived two decades beyond the ending of his role at the U.S. Mint, dying at the age of 92 in 2001.

The Lincoln Memorial Cent Saga

Gasparro never did see the last of his Lincoln Memorial Cents. They were produced from 1959 through 2008 and easily became one of the most recognizable coins not just in the United States but also anywhere in the world. It’s so often the case that when a numismatist beyond American shores begins collecting United States coins, they take up Lincoln Memorial Cents first; the coins are so readily obtainable, easily affordable (even given international exchange rates), and offer collectors seemingly endless avenues – as seen with the multiple Lincoln Memorial Cent objectives on the PCGS Set Registry.

While Lincoln Memorial Cents rank in the minds of so many collectors as a common coin, it’s important to note that this subtype is slowly but observably fading away from circulation. There are several factors behind this. Perhaps most evident is the continued production of Lincoln Shield Cents, which permanently replaced the Lincoln Memorial Cent subtype in 2010 and are edging older one-cent coins out of circulation day by day as the previous design bows out of channels of commerce through natural attrition.

However, there are many other reasons Lincoln Memorial Cents have been seeing a particularly swift decline in circulation. Namely, few people spend one-cent coins in circulation; once they’re obtained by individuals in commerce, most Lincoln Cents are shuffled away into piggy banks, coin jars, and old coffee cans. Thus, there are potentially billions upon billions of Lincoln Memorial Cents squirreled away in homes from sea to shining sea right this moment that may never again see the light of day in cash tills or pocket change.

Older Lincoln Memorial Cents – those of the bronze format made prior to 1982 – are being saved for their increasing bullion value as copper prices continue trending upward, their intrinsic value higher than the face value of the one-cent coin itself. Meanwhile, the copper-plated zinc composition that usurped the bronze profile in 1982 has proven to be rather reactionary to heat, perspiration, and other natural elements confronted in normal circulation; when handled without care and in the most caustic of environments, zinc-based Lincoln Cents tend to corrode quickly. Thus, many of the more recent Lincoln Memorial Cents have simply faded away into oblivion – that is, if they weren’t simply tossed into the garbage first, as is all too often the fate for countless Lincoln Cents.

Perhaps a day of numismatic reckoning is coming for the Lincoln Memorial Cent – Gasparro’s iconic brainchild. Certainly, many collectors already appreciate this modern coin as a worthy collectible. Significant varieties, including valuable rarities such as the 1969-S and 1972 Doubled Die Lincoln Memorial Cents as well as 1990 No-Mintmark Proof, are hotly coveted by collectors of all stripes. As more people realize the boundless fun, exciting opportunities Lincoln Memorial Cents offer, the day may soon come that many Americans jump aboard the numismatic train as avid collectors of this complex, widely recognized series.