Why is 1933 penny rare

Editor's note: this is the second part of a story by Jeff Starck about Depression-era coins that shouldn't exist but that were issued under strange circumstances. The article originally appears in the December monthly issue of Coin World.

By creating an account, you are agreeing to the Terms of Service and the Privacy Policy. The Lincoln penny is an iconic piece of American coinage that has a place in history and in the hearts of most every collector. The Lincoln penny is desirable not only due to its age and historical significance, but also due to the scarce number remaining. Being that the coin was minted so long ago, there will only ever be fewer available. This is why collectors will do anything they can to get their hands on these coins. Being that these coins were first minted all the way back in , their condition is never a sure thing.

Why is 1933 penny rare

The coin sold is known as a "Pattern" version, as it was presented as a prototype, but never went in to production. It is the first time that any of the Pattern coins have come up for auction. Commenting on the record price, a spokesperson for the auction house, AH Baldwin and Sons said: "No other bronze coin has ever come close. The coin was bought by a private collector. It is not known whether it will be kept in the UK, or taken abroad. A further seven pennies, known as currency coins, were produced in for ceremonial purposes, but none has recently come up for sale. It is thought the currency coins could be worth twice as much as the Pattern versions. The reason so few were produced was that the Royal Mint had a surplus of penny coins in , and did not need any more in the following year. Most of the pennies are in private hands, although one of the Pattern versions is in the Royal Mint's museum. Others, it is thought, have been buried under buildings as part of a "time capsule". The eventual price achieved was nearly double initial estimates. Image source, Baldwin and Sons.

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A key variety to penny value is the "D" mint issue of Denver. Low production and lack of saving of these coins has created a premium variety. Proceed through the value process of inspecting: Date Mint Mark Condition. Secondly - Condition: Examples with light wear, indicating higher condition are uncommon and worth strong premiums. Listed by date and mint mark variety the chart further narrows value by the condition of the coin.

The British Penny is, perhaps, one of the most famous coin rarities in the English-speaking world today — allegedly only seven coins were minted — specifically for the king to lay under the foundation stones of new buildings. So why do so many people claim to have a penny on their possession or to have seen one? Getting back to the rare British penny — there was no requirement for the Royal Mint to produce any pennies in because there were already more than enough in circulation. In fact, the Royal Mint had been steadily reducing its output since see table below. That said, requests were received for sets of coins dated to be placed under the foundation stones of buildings erected in that year, and the Mint obliged by striking a small number of pennies to make up these sets. The myth behind the reality was that people thought they could turn up in their change — a highly unlikely occurrence since these pennies were all buried beneath foundation stones. Around about that time and in the midst of a nationwide search for the missing penny, one of the original buildings — the Church of St. Cross, Middleton, Leeds, Yorkshire — which was originally half-brick and half-timber construction began to attract the attention of criminals. The timber part had been demolished in the s and, when the construction of its replacement commenced in , a compete set of coins were duly placed under the foundation stone.

Why is 1933 penny rare

A key variety to penny value is the "D" mint issue of Denver. Low production and lack of saving of these coins has created a premium variety. Proceed through the value process of inspecting: Date Mint Mark Condition. Secondly - Condition: Examples with light wear, indicating higher condition are uncommon and worth strong premiums. Listed by date and mint mark variety the chart further narrows value by the condition of the coin. Whether its many or a few coins, judging each individually is important to an accurate value. Collectors follow a step by step approach of examining: Date Mint Mark Condition to determine how much they are worth.

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Light brown toning covers the majority of the surface with deeper shades within the recesses and fields presenting an appealing collectible coin. Whether its many or a few coins, judging each individually is important to an accurate value. Create An Account Track an Order? I could not identify the material in which it was embedded however there where also some bolts encased in it. The timber part had been demolished in the s and, when the construction of its replacement commenced in , a compete set of coins were duly placed under the foundation stone. Sign me up. By creating an account, you are agreeing to the Terms of Service and the Privacy Policy. Only four of the pattern pennies are known to exist. Lincoln Wheat cents span the years through A British halfpenny is very common and almost worthless — why would you want to have it authenticated? Loading Comments Smoothing leaves finer details missing. Knowing this, you can understand how 2 Lincolns of the same grade might have different values. Indeed, people have spent a lifetime sifting through their coins in a vain attempt to find one.

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Regards, Gerry. Experienced collectors assembling date and mint sets recognize the scarcity, few were minted in comparison to other years. Cross, Middleton, near Leeds. As for the raised imagery and lettering, that will all still be perfectly intact. This example is taken from a photo by The Royal Mint as displayed on their website. Secondly - Condition: Examples with light wear, indicating higher condition are uncommon and worth strong premiums. Fine Grade: Moderate wear with major design elements remaining defines a wheat penny in Fine grade. By creating an account, you are agreeing to the Terms of Service and the Privacy Policy. Date by Date In Depth Lincoln Penny Value Early Era to New to JM Bullion? Remaining features within the hair are well defined confirming an extremely fine grade. Whether its many or a few coins, judging each individually is important to an accurate value.