DOUBLE EFFECT I’m a coin expert – the error and date on Lincoln pennies to look out for that could make it worth $100,000 or more
COIN collectors have been able to make over $100,00 from a single penny.
Mistakes on coins make them especially valuable for collectors.
This can include incorrect spacing on words or a “double die” error, all of which can send a coin skyrocketing in price thanks to high demand.
Double die coins are exactly what they sound like. The date, the word “liberty,” and the motto all appear to be double-stamped on the coin.
An especially valuable one is the 1969-S Lincoln Cent of the obverse variety.
Having one of these is essenitally like having a winning lottery ticket, said Shaun from BlueRidgeSilverHound on TikTok.
Finding the right coin
The Professional Coin Grading Services (PCGS) explained this coin was tainted by counterfeits, landing it on America’s “Most Wanted” list.
Two men – Roy Gray and Morton Goodman – began producing fake coins with matching double dies to fool collectors.
Roy asked coin collector Robert Teitelbaum to help him sell the coins, and they eventually made over $92,000.
When Roy asked Robert to put a few coins into circulation in Washington, Robert turned them over to the Secret Service instead, ending the counterfeit ring.
It’s believed less than 100 authentic 1969-S Doubled Die Obverse cents were produced.
You can spot one by seeing if the date, “liberty,” and “in God we trust,” are all doubled up.
An authentic coin will not have a double mint mark, since those were added later in production.
These coins sell for upwards of $100,000, including one that sold for $126,500.
More valuable pennies
Another rare and valuable penny is the 1992 Close AM Penny, with one example selling for $5,000 in a January auction.
In a TikTok, Blake Alma of CoinHub explained how to spot one of these rare coins.
PCGS explained the Close AM penny was likely part of an experimental coin to see what a new design would look like on the back of the 1993 pennies.
The front of the coin shows the 1992 year and has no mint marking beneath this date.
On the back, the A and M in America are so close they’re almost touching.
And older pieces like 1788 Massachusetts cent are also very valuable.
The design depicts an image of a Native American on the obverse holding a bow and arrow.
Surrounding the image is the text “Common” and “Wealth” on opposite sides.
Also, the date is 1788, which can be spotted on the bottom center of the reverse.
One in “MS66BN,” which is an uncirculated grade, sold for a total of $37,600 in a January 2015 auction.
Meanwhile, the 1788 penny that sold for $5,000 after 22 bids in the recent eBay listing was certified by PCGS in a VF Detail grade.
The Sun broke down how to find rare coins including ones featuring Lincoln.
Plus, see which coins could be worth upwards of $260,000.