A PENNY with an iconic error has sold for a fortune online after attracting more than 100 bids.
Sometimes, mistakes are made during the minting process that could drive up the value of coins.
They could of course be in high-demand sellers.
One, in particular, relates to a double die error, created on a Lincoln penny from the 1960s that you’ll want to look out for.
This is because one example sold for a whopping $535,000 in a GreatCollection auction that ended on Sunday.
WHAT TO LOOK FOR
The first thing to spot is a Lincoln memorial penny that has the year “1969” engraved.
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The date can be found on the obverse side of the coin just to the right of the 16th’s U.S. President’s body.
And right below it, you’ll want to look for an “S” mintmark, which stands for San Francisco.
But the biggest reason why it could be worth a ton of money is due to a double die obverse error, which is when certain elements on the coin are duplicated on the front side of the coin.
For example, the sold penny features the doubling of “1969-S,” as well as the words “Liberty” and “In God We Trust.”
The 1969-S penny is extremely rare, as the reported mintage is just 15, according to Professional Coin Grading Service.
GRADES EXPLAINED
While the 1969-S piece will likely be valuable either way, how much it’s worth could depend on the grade.
For example, sold auctions revealed by PCGS show that the double die variety can sell for anywhere between $16,500 and $126,500.
But the one that sold in the GreatCollection auction was certified in a higher grade of MS 66, which is just four points off from a flawless score.
It was also labeled as an RD piece, which means it still maintains at least 85 percent of its original red luster.
The recently sold example picked up heavy interest from collectors as the auction ended with 119 total bids.
OTHER VALUABLE LINCOLN PENNIES
You’ll want to keep a lookout for other double die errors on Lincoln pennies too.
This includes the most famous one of them all, which is known as the 1955 double die piece.
In average condition, the 1955 double die penny is worth $1,318 in average condition, according to USA Coin Book.
The value could surpass $17,000 if in an MS 63 grade.
One buyer recently paid more than $2,000 for a circulated 1955 piece in a high grade.
Another double die penny with a 1960 date could be worth $4,000.
Aside from doubling errors, there’s the 1922 Lincoln penny without a mintmark, which can sell for thousands depending on the grade.
It is worth $970 in average condition and up to $30,724 if in an “Uncirculated (MS-63)” grade, according to USA Coin Book.
It is estimated that 25,000 no-mintmark pennies were produced with “perhaps” 10,000 pieces surviving, according to collector’s guide Lincoln Cents.
To see if your spare change is worth anything, you can check eBay by searching the full name, selecting the “sold” listing, and then toggling the search to “highest value”.
