In other words, every time you break a dollar, you may be holding in your hand thousands of dollars. Treasure seekers and numismatists alike rummage through pockets, purses, and spare change to find those rare gems-a handful of uncommon coins worth far more than their face value.
It is simply amazing to think that rare coins worth $545 million might still be hiding there, beneath the cushion covers, inside a piggy bank, or jingling in one’s pocket all over America. One of the easiest entry points to treasure for the average person lies right here.
They have minted billions of coins in the history of the U.S. Mint. Many of these coins stay in circulation for decades and get exchanged in everyday financial transactions.
Some of these circulating coins have exceptional value due to their errors, low mintages, or historical importance. The combination of rarity and the demand among collectors has created a secondary market in which the face value is almost irrelevant.
Many Americans are still completely unaware of the potential fortune in their pocket or collected in a dusty jar. A quarter might be worth thousands, or a dime could cover four years of university tuition.
Value of Selected Coins-Why It Might Be So?
Most coins barely earn more than their face values. However, a very small percentage makes the fortune due to errors during minting, limited production, and, probably, unique historical features. Such coins are popularly known as “error coins.” They are wrongly minted-most missing letters in the inscriptions, and double stamps and incorrect metal forms-and highly sought after by collectors.
Coins minted in a certain year or at particular mints with less circulation usually have a premium value. More often than not, it’s just the right coin in that right condition really draws the money.
Circulating Dimes Most Worthy
A dime, mild-mannered, and bearing an effigy of President Franklin D. Roosevelt would seem to invoke-disperse a lot. But there are some dimes which may leave most people aghast, astonished.
What years, mint marks, and production mistakes can alter a ten-cent coin into a valuable numismatic treasure? The trick lies in knowing what to look for among billions of common dimes.
The 1946-S Double Die Dime
One of the most desired of dimes still occasionally found in circulation is the 1946-S Double Die. This error happened when the die used to stamp the coin slipped between strikes, causing a doubled image.
The doubling is seen most vividly on the date and mint mark. Only some 1946-S dimes are worth above silver content, but the double die version would be valued at over $2,500 in good condition.
With careful examination through a magnifying glass, one can see the doubling effect. Most people’s overlook these slight differences, so these precious coins will still circulate by the face value.
1968-D No Mint Mark Dime
In 1968, dimes minted at the Denver facility escaped without their “D” mint mark. This mistake made for an instantly collectible error coin that numismatists hungrily sought.
Dependent upon the condition, these mint mark errors typically bring between $300 and $1,200. This little letter makes all the difference in this coin’s value.
Many collectors of coins speculate that there are thousands of these error dimes still in circulation. They tend to be of fairly recent vintage, which means they show up quite often in day-to-day transactions.
Traditionally, quarters are the most frequently encountered coin denomination in the American social milieu. These coins populate the parking meters, laundromat machines, and vending machines, anything and everything that requires change, for the most part.
Such wider usage perhaps also translates into their rarity. The firsts of the Washington quarters produced back in 1932 itself have a number of monetarily valuable varieties in its lifetime.
Some quarters can still get into circulation now and again that might be worth hundreds of times, even thousands of times, their face value. This means real chances of some being found in everyday discoveries.
The 1932-D and 1932-S Washington Quarters
1942 went down in history as the first year of Washington quarter production that made tougher on the eye at two rare issues from branch mints. The 1932-D (Denver Mint) had the lowest mintages, yet the 1932-S (San Francisco Mint) is only right there along with it.
Mintages sank fast and low, producing the quarters at just 436,800 and 408,000 respectively, indeed a true rarity from the series. Generally, the coins will trade around the $100-$400 range in just good condition, a tad higher with strictly uncirculated conditions.
There are quite a few in the hands of collectors that by now know their worth and have been taken out of circulation, but a good number of Washington quarters of 1932-D and S will still turn up in everyday transactions. They will be so worn-looking that most people will overlook the quarter’s high value.
The Interested State Quarters
The 50 State Quarters program (1999-2008) with some surprise rarities: certain error coins from this series with hefty premiums over face value.
The most well-known is the 2004-D Wisconsin Quarter with the cornstalk extra leaf. This appears to be die gouge error that creates what appears to be an extra leaf.
These Wisconsin error quarters typically sell for $200 to $300 even in circulated condition. Strangely, many remain unnoticed in circulation along with ordinary quarters.
How Can So Many Rare Coins Still Be Leaving?
A lot of money coins are never out of circulation, because most people do not know that they value it. Some others actually suffered quality control at the U.S. Mint or were just ignored in some of the big changes of coins.
These coins appear not that different from the rest at first glance and so tend to be missed. That is why checking your change or coin jar can be surprisingly rewarding.
How to Find These Rare Coins
- For those on the trail of finding these rare beauties, here are a few simple ways to begin a coin hunting program:
- Check Your Change: Each time you get coins back from a purchase, check the date and mint mark.
- Coin Jars or Piggy Banks: Older family jars may have been sitting in the back all along. They surely are a mine of gold for older coins.
- Go to Banks and Ask for Some Coin Rolls: Just search through the rolls. Many a coin hunter still comes upon silver or rare dimes this way.
- Garage Sales and Flea Markets: Sometimes coins all sell old collections without knowing the actual worth.
How to Tell If A Rare Coin Has More Value
Research the Year & Mint Mark: Use any of the online databases like the PCGS or NGC.
- Check for Weight and Metal Composition: A weighing scale is needed; the magnet can also be used (most important coins will not stick to magnets).
- Check for Errors: Check for doubling, missing mint marks, or design errors.
- Use a Coin Appraisal Service: Professional graders will certify your coin value.
- Join a Coin Collecting Forum or Group: Other enthusiasts will often quickly help you out with an authenticity check.
If you find something that looks like it might be worth a penny or two, congrats! Here’s what to do next:
- Don’t Clean the Coin! It will lose most of its value.
- Photograph it clearly and note any visible errors.
- Get it professionally graded by either PCGS or NGC.
Decide if you want to sell it immediately or keep it: Something like coins may appreciate in value rolling into the future.
Final Thoughts
Just imagine… the next cup of coffee might come with change containing a $10,000 coin. Experts estimate there are still around $545 million worth of rare dimes and quarters in circulation, making it wise for people to take a closer look at their pocket change.
Whether you are just starting out or have been collecting for years, the thrill-and profits-of finding one of these elusive coins can be exhilarating. So the next time a few coins get tossed your way, take a closer look. You may be holding a small fortune in your hand!
FAQS:
Should I clean coins that I find?
Never clean potentially valuable coins. Cleaning surfaces that are damaged can lower the value by 50-90 percent immediately.
Tax Deduction for Coin Roll Hunting Supplies?
Supplies can possibly be deducted if the coin hunting would be considered a business and not a hobby. Talk to a tax professional about it.
How many valuable coins are worth still in circulation?
There are estimates that anywhere from 2 to 5 million coins still in circulation that are worth over $100 a piece, meaning the total is over $545 million.
What do I do in the event that I find a valuable coin?
Store it safely in a non-PVC holder, make its marks visual with pictures, and consider getting it professionally graded if it’s that significant.
