Coin collecting continues to be a popular hobby for many individuals. Not only can it be highly rewarding for those who are interested in history, but it can also fetch hefty returns if you stumble across a rare coin. While never a guarantee, some collectors can sell rare coins for thousands of dollars. This one coin, if you are lucky enough to stumble upon it, has been sold anywhere between $40,000 to over $120,000. Check your collection and pockets today to see if you have it.
What makes coins valuable for collectors?
When it comes to the sale of coins worth tens of thousands of dollars, these coins need to meet a variety of factors. Generally, what makes a coin exceedingly valuable is not just the fact that it is a historical coin or one which is out of production, but its rarity is compounded by the fact that it is unique in and of itself in relation to coins which were produced alongside it.
Collectors generally look out for the following factors, which determine how valuable a coin is:
- Rarity of the coin
- The condition and/or grade it is
- It’s in demand by other collectors
- Any historical significance of the coin
- Metal content
- Certification
Coin collectors particularly like to look out for a coin that, coupled with possessing some sort of historical significance, has a unique error. These errors could be design flaws, such as being double-printed. The coin will increase exponentially in value if this coin, with a unique error, is also in mint condition.
Over $40,000 for this 1-cent coin
One of the rarest coins on the market today is the 1969-S Doubled Die Obverse Lincoln 1-cent coin. Contributing to the rarity of this coin is not just the limited number, which is estimated to be in circulation, approximately 30 certified, but also thanks to the doubling on the obverse of the coin. There are an estimated forty to fifty genuine examples of these that still exist, including those which have already been certified.
“The doubling on this variety is very dramatic, fully matching the spectacular appearance of the well known 1955 and 1972 Doubled Die Obverse varieties, but in the case of the 1969-S, perhaps 100 times rarer,” describes Stacks Bowers on their website.
The grade of the coins of this variety, which have been sold at auction, significantly influences their price. These coins have been sold for anywhere between $40,000 and $126,000. However, while the value of this coin is significant and will happily fetch you thousands of dollars if you happen to have one, other coins have fetched prices as high as millions of dollars, making this one pale in comparison to some of its other historical counterparts.
Check your spare change now to receive thousands
While coins worth millions of dollars are not as readily available as other historical coins, it is surprising to see how many different types of coins can still be worth hundreds of thousands of dollars. However, it is important to keep in mind that coin collecting is no easy task, and coming across a rare coin is never a guarantee.
If you do intend to start coin collecting, you should do it for genuine interest and not because you expect to receive thousands of dollars. In addition to coin collecting, other collection activities that can fetch high prices include stamps, comic books, sports memorabilia, and watches. The reality is, even very specific and obscure interests rake in thousands of dollars if there are committed fans and collectors who have a genuine interest in a specific collection. While not always inherently valuable, it’s the desirability, even from a small crowd, which drives up the worth of an object.
