A RARE coin has a specific detail that differentiates it from others.
On a TikTok videois explained why a 1954 penny could actually sell for thousands of dollars.
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“Now this particular one was produced at the Philadelphia Mint,” said the TikToker. “It does not show a mint mark in this area, which indicates that it is an example stuck in Philadelphia.”
But the TikToker then explained why this particular penny was such a rare find.
“Don’t be fooled by this coin,” he said.
This coin has a MS-67 Red coin grade, meaning it retains at least 95% of its original mint red color.
Coins graded MS-67 are considered some of the finest classic U.S. coins, with original luster and above-average visual appeal.
“The luster of this particular coin has everything to do with the overall condition of the coin. This is one of those coins that hasn’t done very well,” he added. “There are 20 of them available on the market.”
He said this coin sells for more than $9,000 due to its rarity.
“Lincoln pennies are crazy right now,” said the TikToker.
WHERE TO START
Steve Feltner, director of numismatic education at Professional Coin Grading Service (PCGS), has been collecting since he was 8 years old.
Feltner told The US Sun that anyone looking to collect should follow their interests.
He said he typically asks new collectors a few questions when they’re looking for a starting point.
“Is there a design you really appreciate? Is there a time period that you really enjoy going into historically? Is there a world event that inspires you?” he asked.
To find high-value coins, he said the future lies in global coin collecting.
The US has a robust coin collecting market, which means that many extremely rare American coins have been found – making them difficult to find and sell.
Rare coins
You might be keeping something valuable in your wallet. Check out these articles about rare coins to see if you have a treasure hidden deep in your pocket.
“We know what the ultimate rarities are… but few people know about really scarce coins from different countries,” he said.
He also recommended purchasing the “Red Book,” an annual publication that details what to look for in valuable coins.
CH-CHING
Coin collector and TikToker Eric Miller (@thecoinchannel) shared how to identify a penny worth $7,500.
What makes the 2009 cent valuable is not a design error or low mintage, but its weight.
The penny was a “special strike” and was not intended for regular circulation.
It was part of a special set of coins commemorating Abraham Lincoln’s childhood.
These coins were all minted with 95% copper, making them heavier than other coins of recent times.
Since 1982, pennies have been made with about 97.5% zinc and 2.5% copper.
Miller explained that the 2009 coins weigh just over 3.1 grams, while typical coins weigh 2.5 grams.
Meanwhile, the controversial “Indian head” pennies could be worth tens of thousands of dollars.
And lucky individuals can win thousands with a rare nickel.
This story originally appeared on The-sun.com read the full story
