AFTER an employee discovered a gold coin at work, an expert stepped in and shared how to check if it was valuable.
The expert revealed that an important detail on the back of the coin could make it worth up to US$120,000.
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Eric Miller is a coin fanatic and an expert on what makes change and coins worth more than their face value.
He runs The Coin Channel (@thecoinchannel) on TikTok, which has more than four million followers.
On a video Earlier this month, the coin expert shared how a golden quarter could be worth hundreds of thousands of dollars.
He stitched together a clip of another TikTok user who found a gold coin in his work cash drawer.
“There’s a way one of these gold coins could be worth more than $100,000. Not just be worth that — selling for that,” Miller said.
However, he clarified that you need to know what to look for, but only major collectors typically have that knowledge.
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Miller shared that regular gold-plated coins are “cool” and “look really nice,” but without collector knowledge they only sell for a few dollars.
The expert showed examples of gold coins sold online for $2.89 and $5.
WHAT TO LOOK FOR
Coin hunters should look for a gold coin with a “completely normal” front, featuring a portrait of George Washington.
“Now look at how it’s worth over $100,000,” he said.
The reverse side of the coin, or reverse, is where collectors find a crucial detail of the gold coin.
Miller noted that if the back of the coin has the same back as a Sacagawea dollar coin, it is a mule error and worth more than $100,000.
A mule error occurs when a coin is minted from a dice pair that was not intended to match.
This means the coin has obverse and reverse designs that are not normally seen on the same piece.
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Miller presented examples of rare mule bug coins that have sold for far more than their face value.
One of these coins sold for $102,000 in 2019, while a second sold for $120,000 in the same year.
“Always keep an eye on those gold coins,” said the coin expert.
Other mistakes made at the Mint made the coins rare and highly collectible.
For example, a lost letter on a penny makes it worth thousands.
Additionally, a rare coin with the “perforated” mark is worth up to $6,000.
This story originally appeared on The-sun.com read the full story
