Rare Coin Price News – Early 20th Century Lincoln pennies sell for $ 1,175 each as experts urge you to search your collections
RARE coins have the potential to turn your pocket money into a payday – with two pennies recently sold for more than $ 1,100 each.
The penny from 1909 is considered valuable and unique.
According to Ron Gruth, President of the Professional Coin Grading Service, only 484,000 cents with VDB initials were issued.
The initials “VDB” on the reverse of the coin, which identify the initials of the designer Victor David Brenner, are what make the coins so valuable.
According to the USA Coin Book, the 1909 coin is worth $ 917 in average condition and up to $ 2,222 when in “Uncirculated (MS-63).”
Other 1909 Lincoln pennies recently sold are one for over $ 2,000 and another for nearly $ 1,500.
Read our Rare Coins blog below for the latest news …
WHY LIVING PEOPLE DO NOT SHOW IN US CURRENCY
In 1866 federal law was passed preventing a living person’s picture from being printed on American money.
Lady Liberty first appeared on American coins while the American eagle appeared on the reverse.
Presidents have traditionally been depicted on money, and that dates back to 1909 when Abraham Lincoln first appeared on US coin.
BLACK DEATH PERIOD COINS FOUND IN ENGLAND
In June 2021, two rare gold coins were found by someone with a metal detector in the small town of Reepham.
The coins date from the 14th century, according to Smithsonian Magazine.
Both coins featuring Edward III are valued at an estimated $ 16,650.
IS YOUR CHANGE AN ASSET?
If you think you have a rare coin it can be of serious value.
The most valuable coins are usually those with a small mintage or flaw as they are considered the most valuable by collectors.
MOST OF THE MONEY IS ABROAD
The Bureau of Engraving and Printing estimates that between half and two-thirds of US currency circulation currently takes place overseas.
Several countries use and accept US currency as a method of payment, including Ecuador.
OLDER COINS ARE TYPICALLY MORE VALUABLE
Some coins attract attention because of their age.
Remember that the value of the coin can depend on the quality and condition.
And each coin is only worth what someone else is willing to pay for it, so if you find an unusual coin there is no guarantee that you will make a mint.
The first animal to appear on a US coin was an eagle in 1794.
The eagle was followed by a bison that appeared on the nickel from 1913 to 1938.
HOW TO CLEAN RARE & OLD COINS WITHOUT DAMAGING THEM
Old coins shouldn’t be cleaned as it could potentially diminish their value or, worse, damage them permanently, experts say.
When looking to purify a coin, consider adding a coin that has sentimental value rather than monetary value, or one that is not uncommon.
And if you’re not sure how to properly clean a coin and want a second opinion, consult a coin expert before trying any of the following methods.
CARSON CITY MINT
In 1863, a law was passed to build a Carson City Mint due to the difficulty of moving gold and silver through the Sierra Nevada Mountains to the San Francisco Mint.
The Carson City Mint was completed in 1869 and the first coins were minted in 1870.
Carson City Mint produced gold and silver coins for only 23 years.
For this reason, Carson City Morgan Dollars are particularly rare.
Be sure to check your loose change for these other rare coins.
RARE SET OF DOLLAR COINS SOLD FOR $ 3,045
A set of 13 Morgan silver dollar coins sold for more than $ 3,000 earlier this month.
This set of Carson City Morgan Silver Dollar coins dates to between 1878 and 1893, according to the seller.
The complete set contains the following coins:
HOW TO KNOW IF A BANKNOTE IS REAL: BLUE SECURITY TAPE
One thing that stands out about the $ 100 is the unique blue ribbon that runs straight to the right of Mr. Franklin.
This time, you don’t have to hold a light to the bill to see it, as this vertical band is clearly visible.
HOW TO KNOW IF A BANKNOTE IS REAL: SERIES YEAR
But there is another clear way of specifying the serial year of the invoice.
Somewhere on the bill there will be a smaller print of the “series” with the year underneath.
On the $ 100 banknote, this is to the right of the orange bell.
HOW TO KNOW IF A BANKNOTE IS REAL: LETTER AND NUMBER IN THE CORNER
You should also notice a letter and number in one of the corners of the bill.
For example, a $ 100 bill has an uppercase “E” next to a small font with the number “3” in the right corner of a bill.
HOW TO KNOW IF A BANKNOTE IS REAL: FACE PLATE AND BACK PLATE NUMBER
As you might expect, the front number of each banknote is on the front of the banknote and the back number is on the back.
The number of the faceplate looks similar to the letter and number that we have broken down above – with the difference that the faceplate has an additional number.
For example, the faceplate would read something like “E 52”.
The faceplate of the $ 100 bill is above the “Federal Reserve Note” and to the right of the “100” number.
The backplate number is located in the lower right corner of the banknote on the reverse side.
But if you don’t care about any of these tricks – then there is always the counterfeit money detector pen.
HOW TO KNOW IF A BANKNOTE IS REAL
There are several ways to verify that a dollar bill is real to avoid getting left out of your pocket.
Whether you want to spend them or are hoping that one day your banknotes will become a rare collector’s item, you should make sure they are not counterfeit.
According to federal law, the use of a forged invoice can lead to a prison sentence of a maximum of 20 years.
We explain a few ways you can authenticate a banknote yourself with the help of US intelligence.
We’re using a $ 100 bill, with the example of the founding father and inventor Benjamin Franklin in the middle.
WHAT WAS THE COINING LAW OF 1792?
This law was passed by the US Congress on April 2, 1792 and established the dollar as the US money standard.
It also regulated coinage through the creation of the United States Mint.
PLACES TO LOOK FOR RARE COINS: BANKS
Banks are often used to deposit or withdraw cash – but did you know they also give coins?
What you need to do is ask your cashier for a pack of pennies in exchange for an equal amount of cash.
“This method was quite popular in the 1970s and 1980s because old silver coins were often mixed up in the bank rolls,” Joseph Yaffe, co-owner of the precious metals dealer of Gainesville Coins, told The Sun.
“Today you can still occasionally come across an error coin when searching through coin rolls.”
If you can’t find something rare, you can always deposit the coins back into your account – financially it doesn’t really have any major disadvantages.
PLACES TO LOOK FOR RARE COINS: YOUR HOME
While this may sound obvious, you might be surprised how many unusual pennies you might have on hand anywhere.
Check your piggy bank, pockets, under your sofa or wherever you might be keeping money.
This trail doesn’t cost you anything other than getting a little dirt or dust on your fingers.
HOW MANY COINS ARE IN THE US?
There is an estimated $ 10 billion in coins in people’s cars, bags, and homes across the United States.
WHY IS PRESIDENT LINCOLN IN THE CORRECT PENNY? PART 2
There are also reports that the Lincoln penny followed European tradition.
According to CoinSite, when a new monarch was installed, his bust or profile would point in the opposite direction of the person who preceded him.
Since the Liberty figure was pointing left at the Indian cent, Lincoln could be said to be pointing to the right to honor that tradition.
WHY IS PRESIDENT LINCOLN IN THE CORRECT PENNY?
Lincoln is believed to be facing to the right because sculptor Victor David Brenner based the penny design on a portrait of the president in which he is standing to the right.
INVOICES COST ONLY CENTS TO MANUFACTURE
The cost of making bank notes can range from about a nickel per note to just over a cent.
- 1 and 2 dollar bills: 5.6 cents per note
- $ 5 note: 11 cents per note
- 10 dollar bill: 11.7 cents per note
- 20 dollar bill: 10.8 cents per note
- 50 dollar bill: 12.9 cents per note
- 100 dollar bill: 13.2 cents per note
520 YEARS FOUND COIN IS “INCREDIBLE IMAGINE”
The coin in question is known as the Henry VII half-Croat or two-penny piece, the point of sale reported, and it is expected to be on display at the historic site for the 2022 tourist season.
“It is incredible to imagine this coin being minted in England and lost in Cupids over a hundred years later,” said Steve Crocker, provincial minister for tourism, culture, arts and recreation for the province in a statement.
“It connects the history of early European exploration in the province and the beginning of English settlement.”
520 YEAR OLD COIN FOUND
A coin was recently found in Newfoundland that was minted more than 520 years ago.
Archaeologists found what is probably the oldest English coin ever found in Canada.
“The rare silver coin – about the size of a US nickel and just under a 10-pence coin – was discovered at the historic site of Cupids Cove, the country’s first English settlement,” reported the BBC.
WHAT IS THE LIFE EXPECTANCY OF AN INVOICE?
Surprisingly, the life expectancy of a bill is no more than 15 years.
After they have been used up, notes will be withdrawn from circulation.
Below are the average life expectancies for each dollar bill:
- One dollar bill lasts approximately 5.8 years
- USD 5 bill lasts approximately 5.5 years
- The 10 dollar bill lasts about 4.5 years
- The 20 dollar bill lasts about 7.9 years
- The 50 dollar bill lasts approximately 8.5 years
- One hundred dollar bill lasts about 15 years
During the copper shortage, the US Mint produced pennies that looked very much like pennies.
In 1943, pennies were made from galvanized steel.