IF you’re a coin collector or simply curious about the world of numismatics, you might want to keep an eye out for a rare find.
This unique variant, graded MS62 by the Numismatic Guaranty Corporation (NGC), could fetch a staggering $26,000 at auction due to its distinct minting error.
The 1920 Lincoln Cent, part of the Memorial reverse series, is not just another coin in circulation.
Struck on a dime planchet, this off-metal format is incredibly rare among wheat ear dates from the early part of the series, per Heritage Auctions.
Encountering a Lincoln Cent with this type of error is a collector’s dream, making it a sought-after piece in the market.
Weighing in at just 2.5 grams, this lustrous coin displays minimal markings, a feature that significantly enhances its value.
The sharp strike on most design elements captures the meticulous craftsmanship of the time, although some areas like the letters “UNUM,” the “O” in “ONE,” and the “0” in the date exhibit slightly less definition.
This particular coin’s obverse rim is notable for its broad, low relief between the 5 and 10 o’clock positions, which narrows dramatically, creating a unique aesthetic between 10 o’clock and 3 o’clock.
REASON FOR ITS VALUE
The value of a coin is influenced by several factors, including its rarity, condition, and historical significance.
In this case, the 1920 Lincoln Cent’s status as a dime blank error elevates its appeal to collectors.
Errors like this are not only fascinating from a historical perspective but also represent a tangible connection to the past, making them valuable collectibles.
As the numismatic community continues to grow, coins like this one will likely become more sought after, further driving up their market value.
The allure of the 1920 Lincoln Cent lies not just in its monetary worth, but also in the story it tells.
PENNY PUSHER
There is another penny of high value: $114,000 to be exact.
A mule is a coin created using mismatched dies, resulting in a reverse with an incorrect image.
What is a die break or error on a coin?
What causes such defects on coins and why are they so rare to find?
A die break, also known as a cud, is an error on a coin that is formed when a die, (a metallic piece that is used to strike a coin) is missing a piece near the rim.
When dies strike coins, they have a heavy impact and pressure and the metal from the blank part of the coin, known as the planchet, overlaps the area left by the missing piece of the die.
Coins with such deformities are rare thanks to the strict quality control measures at the US Mint.
When such errors do occur, they are often caught and destroyed.
However, those that slip through the net become huge collector’s items worth much more than their face value.
Source: Littleton Coin Company
This specific penny showcases a Lincoln cent obverse alongside a Roosevelt dime reverse, all struck on the traditional penny planchet.
Due to this unusual error, a collector purchased it for $114,000 at Heritage Auctions earlier this year.
According to the well-known auction site, the diameters of the cent and dime are comparable, with both mintages surpassing a billion.
It remains unclear whether the error was deliberate or if the coins circulated unnoticed.
Plenty of other coins have incredible value attached to them.
A nickel with a “bold” detail can bring in $28,200, and a “wispy” finish can add more value.
Plus, someone found a pile of 1,500 dimes with missing marks valued at $1,000 each.
