A special feature Collector's coin from 1 cent of a dollar was recently sold by $114,000. The surprising thing about this case is that this American example has an unusual fusion that gives it a special touch value of $0.10.
What is the detail why this is so? Lincoln penny reached such a high price on the market? Discover the extraordinary reason in the following article.
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The 1 cent coin worth $114,000
This 1 cent coin was minted by the Denver Mint in 2001 and features the well-known portrait of the President Abraham Lincoln on the front, but on the back it says it is a “One Dime” (10 cents). So, the doubt in the absence of Franklin D Roosevelt Some people in front of us are wondering whether The error is in the president or assigned value.
This is the coin that sold at Heritage Auctions for $114,000. Photo: CoinWeek
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1 cent coin with an error of 10?
This currency is actual 1 cent with the back of a 10because instead of showing the expected reverse of the Lincoln Memorial, the minter mistakenly used a die with the motif of one in 10.
This type of error is called a 'Mule with two designs' which should not have been minted together.
This is what a “penny” or a regular American penny looks like, which is made of copper and retains its color. Photo: UCB
The 2001 Lincoln Cent Coin It is one of the minting errors that may have occurred unintentionally and were put into circulation undetected.
This is what a standard dime (10 cents) looks like in the United States, with 88.24% silver and 10.76% copper. Photo: UCB
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How many coins with this error are there in the world?
The coin auctioned by Heritage Auctions is the fourth “Mule Lincoln Cent/Roosevelt Dime 2001-D” This has been recorded but it is believed there are only 5. The other 3 known cases were sold for the following:
- $114,000 on June 17, 2021.
- $78,000 on February 24, 2022
- $66,000 on August 24, 2022.
To date, two of these examples have sold for $114,000. Photo: PCGS
What mistakes make coins more valuable?
An unfortunate manufacturing defect on a coin can mean a huge fortune for the right person years later. The most common and valuable include:
- Strike Error: When the die design is printed on the coin.
- Planchet Error: When the iron used to strike the blanks on the coins is not properly prepared and creates marks.
- Bug: Duplicating an image creates a “mule” coin.
- Error in the mint mark: The mint mark bears the name of the city in which the coin was made.
How do you know that a coin has value to a collector?
Due to their high value, these and other coins are subject to depreciation numerous fakes. If you find an old coin and think it might have special value, You should have it examined by a numismatics expert..
However, there are some characteristics that can help you at least generally identify whether it is a coin that might have some monetary value to you. One of the first tests that can be used to check the authenticity of the metal is with the help of a magnet. If the coin in question is attracted to the magnet, it is probably made of ordinary steel. In addition, there is a website called numist This can help you identify them quickly, although it is best to consult an expert.
Where can I sell collectible coins?
- Numismatic houses: These locations are located in different parts of the world and offer the opportunity to sell a collectible coin if it piques the interest of its owners.
- Numismatic events: There are events happening all over the world that offer compelling opportunities for meTrade or sell pieces for collectors.
- Groups on social networks: In Facebook groups Since this is a sale of collectibles, there are opportunities to negotiate prices.
- Internet platforms: Collectors can find lost items on platforms like Ebay, Amazon and Mercado Libre.