By Raul Rodriguez Cota
Sep 25, 2024, 5:25 PM EDT
A manufacturing error on a 1900 1 cent coin fetched an impressive $141,000 at a recent auction. This cent, known as the ‘Indian Cent’, was minted in Philadelphia and is one of the rarest due to a production error.
The value of error
The coin, which was supposed to be minted from a mixture of copper, nickel and zinc, was mistakenly struck on a gold planchet, a material used to make higher-value coins.
This unusual error, according to coin expert Richard Snow, is considered one of the most significant errors in the history of American coinage.
Unique Features
This particular penny was graded MS 65, one of the highest on the coin grading scale, which also influenced its value.
The coin was eventually sold at Heritage Auctions for an incredible $141,000.
This is not the only case in which an error coin has reached such high prices.
Coins such as the 1889-CC Morgan dollar have sold for as much as $660,000 due to their rarity and low production, and a 1932-D Washington quarter dollar sold at auction for $74,400.
Collectors are willing to pay large sums for rare coins, especially those with minting errors or low production numbers, making them coveted pieces in the numismatic world.
Continue reading:
– A nickel can be worth more than $400: Do you have it?
– The keys to finding coins with errors and reselling them for thousands of dollars
– $250,000 for a coin that is almost impossible to find in the U.S.