RARE coins have the potential to turn your pocket change into a payday – with two pennies recently selling for more than $1,100 each.
The 1909 penny is considered to be valuable and unique.
Only 484,000 cents have been issued with VDB initials, according to Professional Coin Grading Service president Ron Gruth.
The initials “V.D.B.” on the. back of the coin, which mark the initials of designer Victor David Brenner, are what make coin so valuable.
According to USA Coin Book, the 1909 coin is worth $917 in average condition and up to $2,222 if in “Uncirculated (MS-63).”
Read our rare coin blog below for the latest news…
HOW TO KNOW IF A BANKNOTE IS REAL: LETTER AND NUMBER IN THE CORNER
You should also notice a letter and a number in one of the corners of the bill.
For instance, one $100 banknote has an “E” in capital letters next to a small font of the number “3” in the right-hand corner on one bill.
HOW TO KNOW IF A BANKNOTE IS REAL: FACE PLATE AND BACK PLATE NUMBER
As you may expect, the face plate number of any banknote is found on the face of the note and the back plate number is found on the back.
The face plate number will look similar to the letter and number we broke down above – with the difference being that the face plate has an additional number.
For instance, the face plate would read something like “E 52.”
The face plate on the $100 bill can be found above the “Federal Reserve Note” and to the right of the “100” number.
The back plate number can be found at the bottom-right corner of the banknote on the reverse side.
But if you don’t care for any of these tricks – then there’s always the counterfeit bill detector pen.
HOW TO KNOW IF A BANKNOTE IS REAL
There are several ways to check if a dollar bill is real in order to avoid being left out of pocket.
The use of a counterfeit bill could lead to a maximum 20-year prison sentence, according to federal law.
We explain some ways you can authenticate a banknote yourself, with the help of the US Secret Service.
We’ll use a $100 note, featuring Founding Father and inventor Benjamin Franklin in the center as an example here.
WHAT WAS THE COINAGE ACT OF 1792?
Passed by US Congress on April 2, 1792 this act established the dollar as the US standard of money.
It also regulated coinage by establishing the United States Mint.
PLACES TO SEARCH FOR RARE COINS: BANKS
Banks are often used for depositing or withdrawing cash – but did you know that they give coins as well?
What you need to do is ask your teller for a wrapper of pennies in exchange for an equal amount of cash.
“This method was rather popular in the 1970s and 1980s because old silver coins could often be found mixed into the bank rolls,” Joseph Yaffe, co-owner of precious metals dealer of Gainesville Coins, told The Sun.
“Today you can still come across an occasional error coin by searching coin rolls.”
If you fail to find anything rare, you can always deposit the coins back into your account – so there’s not really much downside to it financially.
PLACES TO SEARCH FOR RARE COINS: YOUR HOME
While this might sound obvious, you may be surprised by how many uncommon pennies you might have in possession somewhere.
Check your piggy bank, pockets, under your sofa, or anywhere you might store money.
This way will not cost you anything, aside from getting a little bit of dirt or dust on your fingers.
HOW MANY COINS ARE IN THE US?
There are an estimated $10billion in coins in people’s cars, pockets and homes throughout the US.
WHY DOES PRESIDENT LINCOLN FACE RIGHT ON THE PENNY? PART 2
There are also reports that the Lincoln penny was following European tradition.
According to CoinSite, when a new monarch was installed, their bust or profile faced the opposite direction of the person preceeding them.
Because the Liberty figure faced left on the Indian cent, it could be said that Lincoln faces right to honor this tradition.
WHY DOES PRESIDENT LINCOLN FACE RIGHT ON THE PENNY?
It is believed that Lincoln faces right because the sculptor Victor David Brenner based the design of the penny off of a portrait of the president in which he was facing right.
BILLS COST JUST CENTS TO PRODUCE
The cost to produce bills can range from about a nickel a note to just over a dime.
- $1 and $2 bills: 5.6 cents per note
- $5 bill: 11 cents per note
- $10 bill: 11.7 cents per note
- $20 bill: 10.8 cents per note
- $50 bill: 12.9 cents per note
- $100 bill: 13.2 cents per note
520-YEAR-OLD COIN FOUND IS ‘INCREDIBLE TO IMAGINE’
The coin in question is known as a Henry VII half groat or two-penny piece, the outlet reported, and it is expected to be on display at the historic site for the 2022 tourist season.
“It is incredible to imagine that this coin was minted in England and was lost in Cupids over a hundred years later,” said Steve Crocker, the provincial tourism, culture, arts, and recreation minister, on Wednesday in a statement.
“It links the story of the early European exploration in the province and the start of English settlement.”
520-YEAR-OLD COIN FOUND
A coin minted more than 520 years ago was recently found in Newfoundland.
Archeologists there found what might be the oldest English coin found in Canada ever.
“The rare silver coin – around the size of a US nickel and just smaller than a 10p coin – was discovered at the historic site of Cupids Cove, the first English settlement in the nation,” the BBC reported.
WHAT IS THE LIFE EXPECTANCY OF A BILL?
Surprisingly, the life expectancy of a bill is no longer than 15 years.
After being worn out, bills are taken out of circulation.
Below are the average life expectancies for each dollar bill:
- $1 bill lasts about 5.8 years
- $5 bill lasts about 5.5 years
- $10 bill lasts about 4.5 years
- $20 bill lasts about 7.9 years
- $50 bill lasts about 8.5 years
- $100 bill lasts about 15 years
During the copper shortage, the US Mint produced pennies that looked very much like dimes.
In 1943, pennies were created from zinc-coated steel.
RARE $2.5 LIBERTY HEAD COIN SELLS FOR MORE THAN $3,000
The circulated coin from 1840 features Lady Liberty on one side, surrounded by 13 six-point stars, which represent the 13 original colonies.
The reverse side features a bald eagle, with a shield across its chest, carrying an olive branch and a bunch of arrows.
The gold coin racked up more than 25 bids on eBay, ultimately selling for $3,333.
BUYER WILLING TO PAY 340 TIMES FACE VALUE
A rare Kew Gardens 50p coin sold for £170 on eBay- more than 340 times the coin’s worth.
The rare coin features a unique commemorative design, which is in fact the most popular to collect, as only 210,000 legitimate copies exist.
Check your change or coin collection to see if you could make your own profit from one of these rare coins.
DON’T THROW OUT DAMAGED CURRENCY
The Bureau of Engraving and Printing may be able to redeem the full value of damaged money.
To have the bill redeemed, you must have at least half of it (with security features), or you must somehow prove that the missing portions of the bill have been destroyed.
WHY LIVING PEOPLE DON’T APPEAR ON US CURRENCY
In 1866, a federal law was enacted preventing any living person’s image from being printed on American money.
Lady Liberty first appeared on American coins, while the American eagle appeared on the reverse side.
Presidents have traditionally been featured on money, dating back to 1909 when Abraham Lincoln became the first to appear on a US coin.
FIRST GOLD COIN ISSUED BY US MINT
The Gold Eagle was the first-ever gold coin issued by the US Mint and originated in 1792.
The design was created by Philadelphia Mint engraver Christian Gobrecht in Ancient Greek and Roman stylings.
The coin has a denomination of $10.
Plenty of these coins have sold for eye-watering sums on eBay in recent months, with the priciest one selling for a price tag of $7,988.
It was sold by a seller in California and the listing attracted 39 bids.
CASHING IN ON SILVER DOLLARS
The Morgan silver dollar coin is named after its designer, US Mint assistant engraver George T. Morgan.
The coin was minted from 1878 to 1904, again in 1921, and as a special non-circulating coin in 2021.
The 1893 Morgan dollar is said to be the rarest, so it’s no surprise that it sold on eBay for $4,550 earlier this year.
Currently, there are various Morgan silver dollar coins from 1893 listed in the thousands on eBay.
SHIPWRECK COIN FROM 1859 SELLS FOR OVER $290
A 50 cent error coin recovered from a shipwreck recently sold for $292 online.
The circulated half-dollar coin came from the SS Republic, which was a ship that sunk off the coast of Georgia in 1865.
The ship, which contained thousands of Seated Liberty half dollars, was on the way to New Orleans when it was hit by a hurricane.
Because the coins were stacked in barrels, the silver coins weren’t corroded by saltwater like other silver pieces.
It means the details still remain on the coins, according to Rarecoins.com.
The listing noted that the piece is an error coin with “9 in the border”.
HOW MUCH US MONEY IS IN CIRCULATION?
There is an estimated almost $1.7trillion in circulation.
This includes $1.64trillion in physical notes.
RAREST COINS EVER MADE, PART THREE
- 2007 $1 Million Canadian Gold Maple Leaf – This 200lb coin is one of only six pure gold coins ever made. Queen Elizabeth is engraved on one side with the Canadian maple leaf on the other. The coin about 20inches wide and an inch thick, and was sold in 2010 for $4million.
- 1913 Liberty Head V Nickel – This nickel was only made for 40 years, from 1883 to 1913 and according to Bank Rate, only five coins were reported to have been made in the final year. This coin was reportedly last sold in 2018 for about $4million.
- Morgan Silver Dollars – The vast majority of these coins are not especially rare, valued at only $20, but depending on the vintage, these coins can run for much more. The following versions are valued at upwards of $100,000 to $550,000:
- 1893 S Morgan
- 1901 Morgan
- 1889 CC Morgan
- 1884 S Morgan
- 1893 O Morgan
RAREST COINS EVER MADE, PART TWO
- 723 Umayyad Gold Dinar – The second-most expensive coin in existence, the 723 Umayyad Gold Dinar is the first Islamic coin that mentions a location in Saudi Arabia. The last coin sold in 2019 came to $4.8million.
- 1343 Edward III Florin – There are three of these coins known to be in existence. Two are in a museum in London, while the third was discovered in 2006 and sold for $850,000. The image on the coin is of two leopards heads on either side of King Edward III while the back shows the Royal Cross inside a quatrefoil. This coin increased in value since it was last sold and is now worth about $6.8million.
- 1943 Lincoln Head Copper Penny – This penny’s value is measured in a mistake made 80 years ago when metals were needed for war efforts and the mint switched to steel. When the switch occurred, there was still copper metal left behind in the machine, creating what is now known as the Lincoln Head Copper Penny. A fully copper penny was sold in 2019 for $204,000.
RAREST COINS EVER MADE, PART ONE
- 1974 Flowing Hair Silver Dollar – This is the most expensive coin in the world and the remaining coins in existence are about 120-130. The Flowing Hair Silver Dollar shows Lady Liberty on one side and the American eagle on the other. Only 1,800 coins were ever made and the most recent one sold for $10million in 2013.
- 1787 Brasher Doubloon – Made in the late 18th Century, the Brasher Doubloon shows a state seal with the rising sun, while an eagle holding a shield is presented on the opposite side. This coin sells for different prices, depending on appearance, and has previously sold for $5million up to $7.4million, according to Coin World.
- 1787 Fugio Cent – Although this coin does not bring a higher trading price, it is still considered a rare coin. The markings show it was one of the first coins made after the newly formed United States. At the bottom, the coin reads ‘mind your business,’ to literally mean take care of your business, while the reverse side says ‘we are one’ with 13 links to represent the original 13 states.
https://www.the-sun.com/money/4078756/rare-coins-price-news-lincoln-pennies-sell/ Rare coins price news – Lincoln pennies from early 1900s sell for $1,175 each as experts urge to search your collections