Why is 1933 penny rare

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 why is 1933 penny rare 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.

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

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.

All Rights Reserved. A key variety to penny value is the "D" mint issue of Denver.

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.

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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.

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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. It is the first time that any of the Pattern coins have come up for auction. A large value gap identifies an elusive coin in these grades. Generally speaking, these patterns are valued at half the price of a circulating penny. A subtle amount of wear has removed enough detail and is beginning to merge the small lines towards edges of the wheat stalk design. Secondly - Condition: Examples with light wear, indicating higher condition are uncommon and worth strong premiums. Minor waves of hair have merged leaving only major details separated. Remember Me Forgot Password? The number of dated pennies is thought to be no more than six or seven. Grading Lincoln Wheat Pennies covers the grading process in greater detail.

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 these coins were first minted all the way back in , their condition is never a sure thing. Historic value is high. Waves of hair above the forehead are slightly flattened on their crests. Light brown toning covers the majority of the surface with deeper shades within the recesses and fields presenting an appealing collectible coin. Collectors follow a step by step approach of examining: Date Mint Mark Condition to determine how much they are worth. In August , it was discovered that thieves had stolen the set of coins deposited beneath the foundation stone of the Church of St. It is not known whether it will be kept in the UK, or taken abroad. Two major eras are noted for wheat cents, early years, all worth well above base value. 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. Descriptions point to elements to establish a grade. After some research my sister identified the coin as a George the 5th penny unfortunately, the coin is in poor condition and the date it practically unreadable. The facsimile British Penny is not intended to deceive but it could be mistaken as genuine by future owners that lack the numismatic knowledge to identify it as a facsimile. Comparing to images identifies grade. Somewhat protected by the height of the rim, waves of hair are high enough to use as an indicator of wear. The number of dated pennies is thought to be no more than six or seven.