It’s usually a small thing that turns regular looking money into valuable rare coins. Last year’s materials used instead of this year’s, a tiny symbol left off a minting die. Collectors covet the unusual and uncommon above all else, and these minor oversights result in a very limited number of coins. This means that supply is much lower than demand, and even something that looks almost exactly like a common penny can actually be a precious rare coin. Even more interesting is that many of these rare coins were released into circulation before anyone realized that a mistake had been made. Because not many people know what distinguishes precious rare coins from run-of-the-mill legal tender, these coins can remain in circulation for decades, until a lucky coin collector recognizes them.

How would you feel if you knew that you had handed over a penny worth $2,000 or more as change for a dollar? This guide will help you recognize a few exceptional American rare coins that you just might have lying around your house, shoved in a change jar, or tucked away into a pocket.

Rare Coins with Mistakes in the Printing

One of the most common mistakes that turn normal coins into limited rare coins is a mistake in the printing. In the case of a nickel minted in 1964, the problem happened when a plate was cleaned too often, and a part of one letter was worn away, leaving the Jefferson nickel with the inscription “E PLURIDUS UNUM.” It took collectors quite some time to catch on to the misspelling of the word “PLURIBUS,” but now these limited nickels are highly sought after. A similar problem resulted in the 1970-S Atheist Cent, when the motto “In God We Trust” was covered with a blob of metal, causing it to read only “In God.”

Another common oversight is when the mint mark, the tiny letter on most American coins that indicates which mint created the coin, is missing or incorrect. Some rare coins with this mistake include the The 1982 no-P Roosevelt dime. The Philadelphia mint used no mint mark until 1980, when it started stamping coins with tiny P’s. Yet somehow, a small number of dimes minted in 1982 were a throwback to the time before the mint mark, and bear no letter P. There were only a few coins with this error, and their scarce nature has made them valuable to collectors. A similar problem happened in Philadelphia a few years later, when the P on the die of some 1989 quarters was clogged with dirt, preventing the coins from being properly stamped.

Rare Coins with Double Printing

Minting problems don’t only involve the writing on the coin. Sometimes a problem with the die causes a coin to be double stamped accidentally, resulting in a very unusual form of rare coins. Some precious coins with double stamping include doubled-die Lincoln cents from 1972, 1983, and 1984, and a doubled quarter minted in New York in 2001.

Rare Coins with the Wrong Metals

Other than printing problems, another reason why rare coins can be minted is when the wrong precious metals are used to make the coins. American coins have undergone several changes in material. For example, during World War II, pennies were made out of steel, because copper was needed for the war effort. Nevertheless, a very few pennies were minted in 1943 out of copper instead. These rare coins are worth upwards of $200,000 today, and they look exactly like any other penny.

As you can see, sharp-eyed coin collectors can really make a profit by keeping their eyes for rare coins in everyday transactions. Most people wouldn’t look twice at a unique find like a 1943 copper penny or a dime that’s missing a letter nearly too small to see. By knowing what coins are limited and rare, you could make an exceptional find just sorting through your household change.

Charles Roman

Coins and Coin Collecting http://www.coinsandcoincollecting.com/ : your guide to getting the very best from your coin collection.

Well I would say that EDUCATION would be the most important factor for anyone to be a successful coin collector. Learn as much as you can about this wonderful hobby. Buy as many books and reading material on all aspects of coin collecting that you can get your hands on. This may even include subscribing to a few coin collecting magazines like Coin World. There are many online organizations, some listed on this site, and you can read about just about anything that there is to know about the hobby of collecting coins.

Learn to be a coin collector. A true collector collects coins for the right reasons. It is what he loves, it’s a true passion for him. It is what interests them the most and they study the market and learn what it is they are purchasing. Most collectors build collections for not only the feel of the hobby, but to make money as well. A true collector is building an investment and knows what he wants out of his collection.

Make sure you know where to get the information you need to succeed in hobby. Coin magazines, brokers, and newsletters in the hobby are a great way to keep up with what is going on in the coin industry. In my opinion the greatest place to find information on the coins that you are looking to collect are from dealers and other collectors. Working with your local coin dealer, who is established and well informed would be one of your greatest relationships that you will have in your hobby.

Another asset in coin collecting is learning to grade your coins. Knowing how to grade coins will not only help you purchase your coins more accurately, but it will help you to identify with your coins to know their true grade and getting a better understanding of what your coins are worth. Lots of money is spent on purchasing coins without the knowledge of knowing what the true grade of the coin is. The coin collector assumes the person or dealer that he is buying the coin from is knowledgeable himself and trust him. This is not a very trusting practice, and in the end it could result in your spending lots of money on your coin collection.

In the hobby of coin collecting, you will learn patience. Coin collections are built over many years, and beginner collectors will most often rush into collecting coins, with out learning the hobby first. This is a long term hobby, and some of the best and successful coin collectors are collectors having 10+ years under them. If you are planning on collecting coins for profit. It is advisable to buy your coins with the intention that you are going to keep them for at least 10 years. This will insure that you will get a reasonable return on your coins.

Having long and short term goals is the key to being successful in anything that you do. Well this holds true with coin collecting. Make sure you know what, where, how, and when, when it comes to coin collecting. Knowing your goals will help you become a successful coin collector and make your hobby more enjoyable.

Jon Gammon is the author and webmaster at The Coin Alley Visit the site for more information on the wonderful Hobby of Kings.
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