You might think a jar of pennies wouldn’t be worth much. Someone knowledgeable about coins might think differently. Certain coins are highly valuable to coin collectors. Coins from long ago as well as those with certain markings are particularly valuable. The 1943 Lincoln head copper penny is one of the coins highly sought after by collectors. That year the government demanded that copper be reserved to make weapons and other goods needed for World War II. Stainless steel would be used instead for penny production. Zinc coated them to increase their shine.
Some copper pennies were manufactured before the order to use stainless steel came through. Collectors will pay $10,000 upwards to $85,000 for an authentic 1943 Lincoln head copper penny that’s in good condition. A steel penny in mint condition might be worth $100,000. After the war, pennies were made using bullet shell casings. That resulted in copper alloys. Collectors also highly prize the 1953 double-dyed penny. It’s called that because a mistake was made in its production. Details were double printed on the coin, except for Lincoln’s bust. This coin might be worth the same as a mint condition 1856 flying eagle penny. Only 2,000 coins of this nature were manufactured. It’s possible the value may increase over time. A design mistake can add to a coin’s worth. A Wisconsin quarter in 2004 contained an additional leaf on an ear of corn. Some of these coins were released to the public before the error was discovered. It’s possible this was intentionally orchestrated by a worker. Purchase price, if it is in mint condition, ranges from $1,500 to $15,000. U.S. mints put the initial of the mint on the coins they produce. Coins bear a P if produced in Philadelphia. Coins made in San Francisco have an S. D is imprinted on coins made in Denver. The Philadelphia mint made a mistake in 1982. It failed to mark the Roosevelt dimes it was producing with its P imprint. Some have paid up to $300 for this coin.
Some people collect coins as a hobby. They might specialize in historically important periods of time. Others collect coins for investment purposes. Here it’s important to learn why some coins are worth thousands of dollars. Some are valuable because of their physical composition. The condition of coins can affect their value. If a coin is in excellent condition it will be worth more than one in poor condition. Collectors can find information about coins on the Internet. Not only can information about all types of coins be found there, but connections with other collectors can easily be made. Different factors determine how much people will pay for a coin. How rare is it? What’s the demand for it? These two things along with the physical condition of the coin are important. Collectors have to be careful to make sure coins are authentic. It’s best to have an expert appraise your collection to see exactly what it’s worth. Replicas of rare coins have fooled people into thinking they were genuine.
