Priceless treasures hidden in the world of coins
The world of coin collecting is full of mysterious and exciting stories. Sometimes ordinary looking coins become rare and valuable due to unique reasons. One such interesting story is of the 1942 Lincoln Wheat Penny, which has achieved surprising prices at auction under certain circumstances.
Apart from this, there are many more unique secrets hidden in the world of coins, which still attract collectors. Let’s go on this exciting journey and know the story of the 1942 Lincoln Wheat Penny as well as those seven coins, which are famous all over the world due to rarity.
1942 Lincoln Wheat Penny: A Priceless Treasure
At first glance, the 1942 Lincoln Wheat Penny seems to be a common coin, which was issued during the Second World War. But due to some special editions and mistakes (Minting Errors), this coin has become rare and is in great demand among collectors.
The main reasons that increase the value of this coin:
Minting Errors –
Some 1942 coins were mistakenly minted on the platform of a dime, making them smaller in size and silvery in appearance. The price of such coins can reach up to $14,000 (about Rs 11.5 lakh).
High-Grade Specimens –
Coins that are preserved in good condition and are classified as “Mint State (MS) 67 Red” have been sold at extremely high prices in auctions.
Double Die Obverse (DDO) –
This is a rare mistake in which the coin is printed twice, causing a double effect in the letters and design. Such coins are very attractive to collectors.
Sale of this coin in some important auctions:
- In January 2020, a 1942-S/S Wheat Penny with MS 67 RD grade was auctioned for $1,763 (about Rs 1.45 lakh).
- In 2018, another coin of the same grade was sold on eBay for $1,350 (about Rs 1.10 lakh).
| Variation | Description | Approximate Value |
|---|---|---|
| Struck on Dime Planchet | Mint error where the penny is struck on a dime-sized planchet | Up to $14,000 |
| MS 67 RD Grade | High-grade coin with original red luster | $1,350 – $1,763 |
| Double Die Obverse (DDO) | Obverse design appears doubled due to a die error | Varies |
7 mysterious coins that were discussed all over the world
1. 1933 Saint-Gaudens Double Eagle
- This gold coin never came into circulation as it was banned under the Gold Reserve Act.
- This rare coin was priced at more than $20 million (about Rs 165 crore) in an auction.
2. 1849 Coronet Head Gold $20 Double Eagle
- This was the first double eagle coin, minted during the California Gold Rush.
- Only one specimen of this coin exists, which is kept in the Smithsonian Institution. Its estimated value is $17.9 million (about Rs 148 crores).
3. 1794 Flowing Hair Silver Dollar
- It is believed to be the first silver dollar minted in the US, and only 1,758 coins were made.
- Its value reached $10 million (about Rs 82 crores) in a 2013 auction.
4. 723 Umayyad Gold Dinar
- This is an ancient Islamic coin, which was made from gold from a gold mine owned by the Caliph.
- Only around 12 such coins are left and one coin was auctioned for $6 million (about Rs 50 crores).
5. 1787 Brasher Doubloon
- This gold coin was minted privately by a goldsmith named Ephraim Brasher.
- This coin was sold for $5.5 million (about Rs 45 crore) in an auction in 2019.
6. 1913 Liberty Head Nickel
- Only 5 known specimens of this coin exist.
- One of these coins was sold privately for $5 million (about Rs 41 crore).
7. Saddle Ridge Hoard
- In 2013, a couple in California discovered 1,427 gold coins in their farm.
- The original price of these coins was $27,980 (about Rs 23 lakh), but their market value was estimated to be more than $10 million (about Rs 82 crore).
The Mystery and Excitement of the World of Coins
The real joy of coin collecting is that even a seemingly ordinary coin can become valuable for unique reasons.
The 1942 Lincoln Wheat Penny is a great example of this, which has traveled from being a common currency to becoming a valuable collectors item.
Moreover, the rare coins mentioned above are proof that there are still many hidden treasures in the world, waiting to be discovered.
Frequently Asked Questions (FAQs)
1. Why is 1942’s Lincoln Wheat Penny so valuable?
Its cost is mainly made up of misprinted pennies, high graded pennies and rare editions with double die obverses,
2. I have a Penny from 1942. Does it have much value?
If your coin is minted by mistake on the dime platform or exhibits doubling in the letters, it may be rare. It would be a good idea to have it examined by a professional coin expert.
3. Can other common coins be very valuable?
Yes, there are also some common coins, like the 1955 Double Die Lincoln Cent and the 1972 Double Die Obverse Lincoln Cent, which have high demand in the market for being rare mistakes.