Introduction:
There may be worth millions of dollars worth of coins lying within your pocket change. For instance, the rare copper coins especially the ones centering on the limited edition ‘penny’ have an integral value in the current den of collectible commerce. Just one such different year dated penny with some unique identifiers, could date up to thousands, even millions of dollars.
But the appreciation of value of such copper coins is not merely knowing the years that are considered to be exceptionality. It also depends other controls such as mint marks, striking errors, preservation condition among several other factors in order to determine how much a coin is worth.
As you explore:
- Five stunning copper coins which hit the news
- The interesting reasons for their high values
- Main reasons why these coins are treasured
- Price levels regarding different state differences
- Ways of spotting these precious collectibles
The Interest that Copper Coins Generates:
Copper coins are well-loved by many collectors and enthusiasts alike. What makes them even more interesting is their long-standing history which comes with investment potential. Although simple looking, these pieces of currency speak volumes about changing economic conditions, improvement of certain technologies, and change of certain cultures in the course of American history.
There are three main causes of stuck value of copper coins:
Rarity: some coins can be very rare due to limited mintage numbers, cherish craft errors, or certain historical events
Condition: People also pay high premium for coins which are in grade MS or mint state.
Important Events: Certain items commemorate important events and so attract great attention from collectors due to the significance of the event or the history of the coin’s minting.
At the same time, the members of the numismatic fraternity have witnessed the increase of demand directed towards copper coins and especially uncirculated rarieties. Pricing structures shows that there has been an upward trend for prices on high-grade coins, some of them have achieved top prices of 100000 at sales. Most of this market growth, however, is from new collections or passive collections of old customers.
Today’s market is characterized by a high degree of interest towards copper coins with the evolvement of investment, historical and rarity based factors. Every individual coin is a work of art, yet infused with historical and economic importance.
1943 Bronze Cent (Bronze Cent Strike):
The 1943 Bronze Cent is one of the unusual coins created due to an error. The Second World War disrupted businesses that relied on copper as a raw material. For this reason, the U.S. Mint had to issue steel cents instead. As luck would have it, some copper planchets found their way into the steel cent production creating one of the most valuable pennies in history for collectors.
The Origins Of These Unusual Copper Pennies
These copper oddities were minted out of three different mints:
- Philadelphia Mint: 10-15 known examples exist
- San Francisco Mint: 6 known specimens exist
- Denver Mint: 1 known specimen found in 1996
- World Record Auction Sale
The auction of this particular coin reached the greatest an eye-popping $1.7 million, as the copper coins collection on auction keeps elevating in norms for this very particular penny. This coin commands such an immense premium because it is in mint condition and has excellent provenance.
Valuation of the Different Grades
The 1943 Bronze Wheat Cents have significantly different market values depending on their grade:
- Circulated grade: $14,000 – $50,000
UNC grade: $100,000 – $300,000. - Denver Mint: An extra ordinary object found in the year 1996.
A new world record for a coin
An example of this type of penny estimated to be in perfect condition has set a new record of 1.7 million unpaid copper coins. The coin is worth so much mostly due to its grade and provenance.
1982-D Lincoln Penny (Copper Small Date)
The 1982-D Lincoln penny is a perfect illustration of a rare minting defect. In the year of 1982, the US mint began striking the coins using zinc rather than copper with which most newly minted pennies were made due to the rise in copper prices.
Nevertheless, the base image used to create these coins is that of a copper penny meaning these coins were made accidentally due to the copper blanks being still available.
The Role of Professional Grading in Numismatics
In order to certify and appraise these coins, a process called grading is essential. The coin’s surface should exhibit little to no wear and preserve its copper lustre. Collectors prefer examples with sharp strike definition, especially around areas such as Lincoln’s hair and wheat stalks.
In the history of U.S. minting these pennies are vital because they brought the copper cents to an unplanned ‘mistake’ ending.
1890-S VDB – Lincoln Penny
Rarity and controversy characterize the 1909-S VDB Lincoln Penny. Minted in San Francisco, only 484,000 of this type of penny were struck before minting operations were abruptly terminated.
The Controversy about V.D.B Initials
V D B refers to the initials of designer Victor David Brenner, which are inscribed on the reverse side of the coin. Upon release of the coins, these initials drew ire from the public as it was believed to be an overly loud and promotional way of branding oneself.
The U.S. Mint gave in to this outcry and ordered the removal of the initials from the coins, thereby creating an instant rarity.
1872 Indian Head Penny
The Indian Head Penny, 1872, is an amazing American coin. Coined by James Barton Longacre, Liberty is depicted wearing a Native American head dress which attracted both commend and censure in equal measure.
Why is it Rare?
Twelve modern coins and one rare coin classifying the 1872 Indian Head Penny are worth evry care and attention. However, only slightly over 4 million specimens featuring Indian Head design were minted. The very few struck combined with the disturbing events of that era added to its value.
Exhaustively many of such coins came into circulation and wore out owing to economic reasoning that did arise after the civil war.
Obverse of the 1969 S Lincoln Penny Partially Doubled Die
Mistakes made while minting coins can enhance the value of an otherwise ordinary coin, and the 1969 S Lincoln Penny Partially Doubled Die Obverse is a perfect case in point.
This uncommon penny exhibits apparent doubling on the obverse, particularly within the date, the word “LIBERTY,” and the phrase “IN GOD WE TRUST.”
At the time these coins were released, the U.S. Secret Service issued a national alert regarding the possibility of counterfeiting and seized several specimens. Their investigation established that these whimsical coins were indeed from the San Francisco Mint but were produced with an out of sync insert.
This denial by the government, and later confiscation of coins led to even lesser number of such coins surviving.
The 1969-S Doubled Die cent sells for big bucks in the world of coin collecting. In MS-64 condition, these coins command roughly $126,500. Even coins in lesser grades have American collectors’ significant attention and interest, with circulated ones selling for a range of $20,000 up to $75,000.
Due to the appearance of forgeries in trade for these coins so worth their value, the most practical solution would be to have these pennies graded by a third party.