In essence, all coins represent monetary value. The face value of a coin is the value assigned by the government that minted it. However, the worth of a coin can be much higher due to various factors, including rarity, historical significance, condition, and errors in the minting process.
Some examples of coins worth significant amounts to collectors include:
- 1933 Double Eagle: This $20 gold coin is one of the most famous and valuable coins in existence. Nearly half a million were made, but none were officially released. Most were melted down, except for a few stolen and recovered specimens. The only one legally sanctioned for private ownership sold for $18.9 million in 2021.
- 1794 Flowing Hair Silver Dollar: The first silver dollar minted by the United States Mint, [this coin] is a highly sought-after piece of American history. Only a few in original condition remain, and one sold for $10 million in 2013.
- 1787 Brasher Doubloon: Created by goldsmith Ephraim Brasher before the U.S. Mint was established, this coin is one of the earliest American gold coins. Its value is not just in its gold content but in its historical significance. One sold for $9.36 million in 2021.
- 1913 Liberty Head Nickel: These five-cent coins were minted illicitly and only five are known to exist. Their value comes from their rarity and the story surrounding their creation. One sold for $4.56 million in 2018.
- 1894-S Barber Dime: Only 24 of these dimes were produced, with only 9 known to survive today. This extreme rarity makes them highly valuable, with one selling for $1.99 million in 2016.
It is important to remember that most coins in circulation are only worth their face value. If you believe you have a valuable coin, it’s recommended to consult with a reputable coin dealer or authenticator for an accurate appraisal.
How to know if a $1 coin is rare?
Examine the Coin’s Date
One of the easiest ways to tell if a coin is rare is to check the date. If the coin is from before 1800, it’s likely rare. Coins minted in the 19th century are also generally considered rare, with a few exceptions.
Why is 2017 1 coin rare?
Good point! The rare piece is worth the small fortune due to an engraving error which is almost impossible to spot. New 12-sided £1 coins were struck and entered into circulation in 2017 but some were made incorrectly during the manufacturing process.