Why is 1933 penny rare

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 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.

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. Indeed, people have spent a lifetime sifting through their coins in a vain attempt to find one. With banks awash in a sea of coins in the Great Depression, no pennies were produced in for general circulation. A custom of the time called for complete sets of coins of the current year to be buried under the foundation stones of new buildings. Consequently, three pennies were struck, in Proof, for buildings erected in that year, along with a small number of circulation examples to be kept by the British Museum and the Royal Mint Museum. The number of dated pennies is thought to be no more than six or seven. With no precise record of the number made, and with the coin having been struck to ordinary circulation standards, it seemed possible that one might turn up in everyday use, prompting a generation to search their change for the rare but ultimately elusive penny of As with the Australian penny and Canadian Dot cent, fakes of the penny abound, with forgers often altering dates on common coins. Other would-be pennies are actually pennies from elsewhere in the British realm, like Australia, British West Africa, Jersey, or Ireland. In August , it was discovered that thieves had stolen the set of coins deposited beneath the foundation stone of the Church of St. Cross, Middleton, near Leeds. As a result, a second set, buried beneath the foundation stone of St. As far as is known, the third set is still in place under the foundation stone of the University of London Building in Bloomsbury, London.

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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.

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.

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.

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This is why collectors will do anything they can to get their hands on these coins. The final known circulation example was once part of the Emory May Norweb Collection. About Contact. Waves of hair above the forehead are slightly flattened on their crests. First Name. Hi , Im am curious with this coz I have 1 of this penny coin. Could not tell of its original. 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. Precious Metals Feb 24, , 12 AM. It might seem insignificant, but it helps more than you might think. Enter your email address and we will send you a link to reset your password. Email Address. Grading determines aesthetic value to collectors.

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.

These are sold as facsimiles and are not intended to deceive. Within the central area, all contours of Lincoln's face are worn to one smooth surface. The seven known examples of the British circulating penny are located in:. A bold date is important. When it comes to determining a price for the Lincoln, you have to take into account a few different factors. To make a long story short, the process of grading culminates with a trained professional assigning a one or two word grade that does well to describe the precise condition the coin is in. The most informative site I have come across on coins. Google Play Store. Collecting preferences always tend towards higher condition examples of any coin. All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. Sign me up.