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If you are an experienced collector or just starting out in the world of numismatics and are passionate about collecting, you have probably experienced that pleasant feeling when a new, shiny, smooth coin lies shining in the palm of your hand. However, what if non-perfect coins are also worth your attention and coin errors are actually real treasures in the world of numismatics?
Error coins often seem insignificant, but they are the type of coins that can tell you fascinating stories, as well as enrich you. Today we would like to tell you more about unusual error pennys - small pieces of metal that have become rare and valuable collectibles over time due to various production failures. So here we would like to pay special attention to the most interesting examples, review their history and understand why small mistakes can be worth a lot of money.
What Does Error Coins Mean?
First of all, penny errors are manufacturing defects that can occur at various stages of coinage. The coin manufacturing process consists of several complex stages: creation of the blank (planchet), striking and final handlings. But each stage can lead to deviations from the norm, which leads to “error coins”, i.e. coins with various defects. However, it is these “non-ideal” specimens that often become collectors' objects because of their rarity and exclusivity.
Main Types of Penny Mistakes
Penny errors list may include different options depending on the stage of the process at which they occurred. Let's consider the most common types of errors:
Stamping Errors
These are errors in the process of stamping the design on the coin, and they can range from barely noticeable to obvious defects:
Doubled die error occurs when a die strikes the same blank twice with a slight offset, leading to doubled design details (such as lettering or images).
Off-center error occurs when the planchet is not properly aligned under the die. As a result, the coin looks as if part of the image has “moved” to the side (the degree of displacement can vary from a small deviation to the absence of the image on a significant part of the coin surface).
Material Errors
Material errors occur when the wrong blank is used for coining during blank preparation:
Wrong planchet error occurs when pennies are minted on blanks designed for other coins. For example, if a penny is minted on a dime blank, it will result in penny weight errors (because the coins will weigh less and be different in material).
Clipped planchet error refers to improper cutting of the coin blank (i.e., the coin shape is not a solid circle due to improper cutting and the coin looks as if part of it has been “bitten off”).
Coin Shaping Errors
Errors related to the shape of the coin are also included to the popular penny errors list and occur at the stamping stage:
Broadstrike error means that the blank extends beyond the stop ring, causing the coin to expand. These coins are wider than standard pennies and may have uneven edges.
Each of these errors makes the coin unique, as these defects are rare. The rarity of the error is a key factor that greatly increases its collector value in the market.
Historical Background: From Creating to Mistakes Making History
The U.S. penny was first introduced into circulation in 1793, and the most popular and collectible pieces are the pennies issued with the image of Abraham Lincoln. These coins are still minted today, going through several changes in design and composition.
The Main Characteristics of Modern Pennies:
Diameter: 19.05 mm
Material: zinc core with copper plating (after 1982)
Weight: 2.5 g
Obverse design: Portrait of Abraham Lincoln (by Victor David Brenner)
Reverse design: Lincoln Memorial (until 2009), then a shield - the symbol of a united state.
Now let's take a look at specific examples of known penny mistakes.
The Prominent Examples of Pennies with Errors
1955 Lincoln Cent (with Doubled Die Error)
This is one of the most famous and popular error coins. In this case, the list of Wheat Penny errors includes a so-called doubled die issue, i.e., the image or inscriptions on the coin are imprinted twice, but with a slight offset. In the case of the 1955 penny, the error appears in the distinct doubling of the inscriptions “IN GOD WE TRUST” and “LIBERTY”, as well as the 1955 issue date. Despite the severity of the error, the coin was released into circulation, making it affordable and very attractive to collectors.
Design: an image of Abraham Lincoln on the obverse and two wheat ears framing the inscription “ONE CENT” and “UNITED STATES OF AMERICA” as on all Wheat Pennies of the time.
Cause of Error: this error occurred due to a faulty stamp used to apply the image to the coin.
Value: This coin is one of the rarest and most expensive error pennies. Today it can be worth anywhere from a few hundred to a few thousand dollars depending on condition.
1984 D Lincoln Cent (with Doubled Ear Error)
The 1984 d penny error list shows quite bright and iconic errors that have become iconic for numismatists and are highly sought after by collectors. This famous doubled ear error (a type of doubled die error), which affects the detail of Lincoln's ear on the obverse of the coin.
Design: The obverse of the coin shows the profile of the 16th President of the United States, Abraham Lincoln. The error resulted in a double ear, i.e., the portrait looks like Lincoln has two ears, one above the other, which is clearly visible even without a magnifying glass. The reverse of the coin standardly shows the image of the Lincoln Memorial, surrounded by the inscription “UNITED STATES OF AMERICA” and the motto “E PLURIBUS UNUM”. At the bottom of the reverse is the denomination “ONE CENT”.
The cause of the error is also due to a stamp malfunction (there was an image shift), which resulted in a doubling on the final coin.
Value: 1984 D “Doubled Ear” Lincoln Cent has become extremely popular among collectors. Depending on the condition of the coin, its value can range from $75 - $200 (for circulated coins with signs of wear) to $200 - $1,000 for MS (Mint State) one at auctions.
1943 Bronze Lincoln Cent
The 1943 Bronze Lincoln Cent is one of the rarest and most iconic error coins in the history of U.S. coins and is highly prized among numismatists and collectors.
Design: the obverse of the coin shows the profile of the 16th President of the United States Abraham Lincoln, and the reverse of the coin is also standard (two wheat ears surrounding the inscription “ONE CENT” and “UNITED STATES OF AMERICA”, with the motto “E PLURIBUS UNUM” above them).
Cause of Error: The error was due to the accidental use of 1942 bronze blanks left over from a previous mintage, instead of the galvanized steel blanks used for the 1943 penny (bronze coins were abolished due to the country's military needs). Thus, the old bronze blanks went into the press and several coins were minted in bronze, making them incredibly rare.
Value: 1943 Bronze Lincoln Cent is considered a real rarity in the world of numismatics. There are only about 20 such coins, and they are of great interest among collectors. Depending on the condition of the coin, its value can reach astronomical sums. Coins in excellent condition (MS63), can be valued up to $250,000, while coins in MS65 condition can cost between $1,000,000 and even $1,700,000 at auction.
Investment Potential of Error Coins
As we mentioned earlier, penny con errores are still among the most sought after coins among collectors. The price of such coins is constantly rising, especially if they are in excellent condition. One of the main reasons for their appeal is the rarity and the history behind each coin. And today the hobby of numismatics can bring not only pleasure, but also financial benefits with the right choice of coins for collecting and investing.
But if you would like to assess your coin's condition and authenticity more accurately, you may use Coin ID Scanner, a convenient and modern application, based on an extensive database, to identify rare and valuable coins. Due to this app you will be able to quickly scan your coin, check its main characteristics and determine its value with ease and convenience.
The Devil in Details
Penny errors are an amazing phenomenon, and small defects left on coins by chance are not a flaw, but rather a benefit in the numismatic world. These coins hold pieces of history and offer great long-term investment opportunities. Despite the fact you are just starting your collecting experience or have been at it for a long time, error coins will not leave you indifferent. Start your search and you might just find that you are the owner of one of the rarest and most valuable coins in the world!
