Check Your Pocket Change for Valuable Coins

You could have a valuable coin or two jingling around in your pocket. We really don’t look at the coins in our pockets, we just give them to a clerk or feed them to a vending machine. It is perfectly possible, however, that you might have a valuable coin in there. When you think about all the change that has passed through your hands, it’s even probable. You could have had your hands on a coin or two worth hundreds of dollars!

Valuable Error Coins

The valuable coins most likely to go unnoticed are error coins. They get passed over because, superficially, they don’t look any different than other coins. Even if you make it a habit to check the dates on your coins, you could easily still miss an error coin. You have to take a closer look.

Error coins are produced when a die miss-strikes a coin blank or has a defect in it. The die may produce a double image on one side of the coin, the images might not line up correctly or there may be a defect mark on the coin. If the mint discovers that a die is creating error coins, of course they correct the problem as quickly as possible. They also try to recover the error coins. So, when error coins do get into circulation they can be quite valuable.

Double Die Errors

Some of the more valuable coins have a slightly doubled image on one side. If the entire image is doubled, it is a double strike. If just part of the image is doubled, however, it is because the double image is on the die that stamps the coin. As you can imagine, these are very rare and valuable coins.

The most valuable double die coin is a 1969 S-Lincoln penny. It is very rare and, if it’s in decent condition, could be worth $35,000 or more. Unfortunately, if you do find one, it’s likely to be a counterfeit. Have it checked by an expert before you get too excited.

Axis Rotation Errors

These errors are actually fairly common in the new State quarters. The images on the obverse (front) and reverse (back) of a coin should be exactly 180° apart. If you hold the coin with the obverse straight upright and rotate it, the reverse should be straight downright. If it’s not, the die wasn’t lined up right. If both sides are straight up (a full 180° rotation), the coin could be worth about $20.00.

Die Defects

Sometimes the die develops a defect that gets stamped onto coins. Two examples of die defects are the 2004-D “Extra Leaf” Wisconsin State quarter, and the 2005-D Speared Bison nickel. A defect in the die for the Wisconsin quarter made an image that looks like the ear of corn on the back of the quarter has an extra leaf. A defect in the nickel die makes it look like there is a spear sticking in the bison between his front and rear legs.

You never know what you might find in your pocket change. There’s probably not a valuable coin there. But you won’t know unless you check it out, will you?

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Article Source: http://EzineArticles.com/?expert=Bryon_Wenrich

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There have been 11 different designs, and the first, designed by Benjamin Franklin, was struck in a private mint in 1787, and was called the Fugio cent.  It was made of pure copper, and Paul Revere, who was a blacksmith at the time, provided some of the copper for some of the early pennies.

Indian Head Cents – 1859

The most notable cent after Benjamin Franklin’s is the Indian Head Cent.  The U.S. government began producing a new one-cent coin in 1859 – the Indian Head Penny – and this was produced until the Lincoln Cent replaced it in 1909.  James B. Longacre created the obverse design of the Liberty head in full Indian headdress.  The reverse had the denomination and a laurel wreath surrounding the words “one cent.”  After 1859, the laurel wreath was replaced with oak leaves and a small shield was added to the top of the reverse. 

Except for a few coins minted in San Francisco from 1908 to 1909, all Indian head pennies were minted in Philadelphia.  The ones minted in San Francisco have an “S” mark at the bottom of the reverse of the coins, while the Philadelphia ones have no mint marks.  The “S” marked Indian cents are scarcer and more valuable than the others.

The Lincoln Cent – 1909

This was the first portrait coin of the U.S., and noted sculptor Victor David Brenner designed the portrait of Abraham Lincoln for the penny.  The penny also had the date inscribed on it, as well as “LIBERTY” and for the first time on a one-cent piece, “IN GOD WE TRUST.”  This term was authorized by an Act passed during Lincoln’s presidency.

The Wheat Penny – 1909

A Lincoln cent without the term “IN GOD WE TRUST” was also approved in 1909 – this was a penny that bore two heads of wheat, between which are the denomination and the term “UNITED STATES OF AMERICA.”  The upper border contains the American national motto, “E PLURIBUS UNUM,” meaning “One out of Many.” 

The designer’s name was on the original model, but fearing that it would be too prominent, only his initials, VDB, were pressed in the first release.   This still seemed too distracting, so the initials were removed completely until 1918 when they were added back but in very small print just under Lincoln’s shoulder. 

Due to limited metals in WWII, the now 95% copper, 5% tin and zinc combination was changed.  These metals were needed for the war and the mint was forced to find a substitute.  After considering a number of options, even plastics, zinc-coated steel was the final choice.

The Steel Cent – 1943

And thus the steel cent entered the scene.  It consisted of low grade carbon steel wit a .005 inch thick zinc coating to prevent rust.

The Memorial Cent – 1959

To celebrate the 150^th anniversary of Lincoln’s birth, the U.S. mint issued a memorial cent on February 12, 1959.  Frank Gasparro, the Assistant Engraver at the Philadelphia Mint, submitted a design to be placed on the reverse of the penny, and his was chosen over 22 other designs submitted by Mint employees. 

At the center of the design is the Lincoln memorial, with the terms “E PLURIBUS UNUM” and “UNITED STATES OF AMERICA” as well as the denomination.  The designer’s initials, FG, appear near the shrubbery on the right. 

Changes over the Years

From this point on, the basic design would stay the same, but small changes would be made.  This is why so many people today like to collect as many “Lincoln Cents” sets as possible, to have a visible reminder of the penny’s transformations over years of American history.

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