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 Lincoln penny is desirable not only due to its age and historical significance, but also due to the scarce number remaining, 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.

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. By Brian Milligan.

All Rights Reserved. A shape rise in demand for pleasing coins is noted on value chart.

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.

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Why is 1933 penny rare

Coins Guide. This post may contain affiliate links. If you buy thru these links, we may earn a commission at no additional cost to you. The Lincoln cent from the Philadelphia Mint has no mintmark tiny letter under the date on the obverse — heads side.

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All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. Compare your coin to grading images in the next section to help visualize its condition. The Lincoln penny is desirable not only due to its age and historical significance, but also due to the scarce number remaining. New Arrivals Coming Soon. For one, most years saw 3 different types of the Lincoln penny produced. Another year of infrequently encountered pennies. Demand for these coins has established a distinction with the grade Extremely Fine and better. Check Order Status. Subscribe to the JM Bullion newsletter to receive timely market updates and information on product sales and giveaways. Commenting on the record price, a spokesperson for the auction house, AH Baldwin and Sons said: "No other bronze coin has ever come close. Just a thankyou for the site, very informative. The coin sold is known as a "Pattern" version, as it was presented as a prototype, but never went in to production. Detecting wear to the surface is identifying a smoothing to the metal. The number of dated pennies is thought to be no more than six or seven. It is not intended to deceive.

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.

For this reason, collectors want to have all of their coins graded. Thank you once for your mountain of information. Sign me up. Is there anything that could identify the the coin. Date by Date In Depth Lincoln Penny Value Second Era to As an early year it fits into many collecting themes. The seven known examples of the British circulating penny are located in:. A penny is firmly in the numismatic collectible group of wheat cents. Send Password Reset Email. Rare pennies are identified in series from wheat cents back to the early years of the US Mint.