PRIVY MARKS ON COINS

 

A privy mark is a small, distinguishing symbol or mark added to coins during the minting process, typically used to commemorate a special event, anniversary or to add a layer of security. The use of privy marks has a long history that dates to at least the 14th century. Early use of privy marks was to distinguish coins made at different times or to identify a different moneyer.

The added symbols were also utilized as a tool against counterfeiting. These marks can vary in design and are often placed in a discrete part of the coin, such as next to the date or mintmark.

The origin of the term privy marks is an old French word "prive," which was derived from the Latin word "privatus" meaning set apart or private. A privy mark is very different from a mintmark, which denotes the location of a coin's minting. The use of privy marks is not a new innovation from the US Mint.

A few great examples are from more than 100 years ago, with the 1922 Grant commemorative Half Dollars and Gold Dollars. To increase sales, the US Mint struck coins with a star symbol (?) on the obverse. The 1921 Alabama and Missouri Half Dollars were stuck with the addition of 2X2 and 2X4 stamps in the field, respectively. This was also done as a way to increase sales of these commemorative coins.

Historically, privy marks were used as identifiers of different mints or to track the journey of coins through various stages of production. In modern coinage, however, they are more commonly associated with commemorative or limited-edition coins.

For example, in 2020, the US Mint introduced a special privy mark on certain American Silver Eagle coins to celebrate the 75th anniversary of the end of World War II. The V75 symbol was also used for a very limited (1,939 struck) edition of the American Gold Eagles in Proof. These have been wildly popular and sell for nearly $20,000 today.

Privy marks serve as a way for collectors to differentiate between versions of the same coin, but they can also enhance the value of the coin, particularly if the minting run was limited or the design has historical significance. In most cases, the inclusion of a privy mark lends itself to lower mintages, making a coin more desirable among collectors.

To increase awareness and to stimulate collecting, the US Mint struck only 2 million National Parks Quarters commemorating five different parks with the V75 privy mark. This is only a tiny percentage of the more than one billion quarters struck that year. Despite looking carefully, I still have not found one in circulation. The coins are certainly out there to be "cherry-picked."

To read the complete article, see:
Jeff Garrett: Privy Marks on Coins (https://www.ngccoin.com/news/article/13575/)

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