A collector’s favorite cent with a flaw recently sold for $1,277 on eBay after a fierce bidding war.
The coin, a 1942/1 Mercury piece, was made in 1942 but erroneously stamped with a 1941 year mark.
Since the error is visible to the naked eye and was a frequent occurrence in circulating 1942 dimes, the piece has become well known to numismatists.
“The 1942/1 dime is one of the most popular and well-known of all U.S. coin types, and for decades it has been touted by dealers and collectors as a great, valuable variety,” said Ron Guth, President of the Professional Coin Grading Service.
“The truth is that it is not rare at all, not even rare, and can be considered common based on the high number of pieces in the PCGS population report.”
Although the PCGS has no estimate of how many of these error coins were minted, they estimate that 3,500 still exist today, of which 3,270 are in circulation.
Value of 1942/1 Mercury Dimes
After this 1942/1-cent listed for $9.95, the price shot up quickly.
During the seven-day auction, 23 bidders made 48 bids before the coin sold for $1,277.
Although this recently sold coin was in uncirculated condition, circulated variations of the 1942/1 Mercury Dime are also valuable.
If you manage to find and sell one of these bug dimes, you’ll likely make at least $300 net regardless of its condition.
Circulating coins in good condition can be worth more than $1,000 and the PCGS has recorded sales of up to $1,440.
How to find rare coins
There are many ways to find rare coins.
The first thing you should do is check places in your house or places where you might keep loose change.
You can also try using a metal detector to look for buried treasure, or stop by your local bank and ask for a roll of coins.
To check if your coins are worth anything on eBay, search by full name, select the “sold” listing, then toggle the search to “highest value”.
This way you get a feel for what collectors are willing to pay for your coins.
You can either sell the coin on eBay or through a specialized website like Coinappraiser or USA Coin Book.
And also – watch out for potential counterfeits when buying online, especially when buying error coins.
To avoid this, it’s worth checking the history of the seller and whether or not the coin on the listing has been certified.
For example, this piece was sold by Great Southern Coins, a reputable company.
The Sun also listed the most valuable quarters in circulation in the United States.
We also reveal what makes the double-headed eagle coin worth up to $18.9 million.
https://www.the-sun.com/money/5724724/rare-yearmark-error-dime-sells-online/ A rare bug dime sells online for $1,277 — how to spot this iconic coin in your change