Error Coins : Have you ever taken your pockets out and glanced at your loose change? And that casual indifference may be costing you a fortune.
Awesome error coins worth millions are hiding among everyday pocket change–that is until they turn into some of the greatest treasures of numismatics. These aren’t merely collector’s items; they’re life-changing windfalls for the lucky few who find them.
In the complicated world of minting coins, errors do occur. There are die cracks, planchet mixing and strike misalignments.
Although the quality-control process identifies most mistakes, some error coins do escape into circulation. These manufacturing mistakes, once deemed worthless, now fetch astronomical amounts from collectors and investors alike. So here are eight of the most lucrative error coins known, together worth an astounding $90 million.
The Value of Error Coins Explained
Before we get to the examples, you may be wondering, what does an error coin have that makes it so valuable? Their value is not only due to a perfect storm of circumstances:
Rarity and Uniqueness
Error coins are atypical variations on standard coins, which might be made in the millions or billions, and they tend to be one-of-a-kind freaks or available in very small numbers.
Hence, the laws of supply and demand dictate that these scarce items will command premium pricing from rabid collectors.
Historical Significance
Several treasured error coins have their own stories connected to important events in minting history or provide insights into minting practices of their time.
New levels of interest are added to these metals beyond their physical properties with this historical context.
Condition and Authentication
Condition is very important even among error coins. Mint-state specimens sell for considerably more than worn specimens.
The authentication by reputable numismatic organizations such as PCGS or NGC adds legitimacy and value to the coin.
Scouring through the dirt only to uncover a piece of the past that would attract the attention of the coin collectors club, now to aid me but your blood thirsty for money and income, the fact is that scouring for coins is something everyone does already, so its no wonder coins which are rare when put into circulation are so valuable.
Entering October 2023 as a 1943 Copper Penny: The Wartime Wonder
Estimated Price: $1.7 Million – $2.3 Million
Copper was classified as a strategic metal, essential to the war effort of World War II. So for the 1943 penny, the U.S. Mint switched to zinc-coated steel.
However, a small number of 1942 copper planchets reportedly got stuck in the presses and were struck with the 1943 dies.
There are only about 20 known to exist of the authentic copper 1943 pennies from any of the minting facilities (Philadelphia, Denver, and San Francisco).
One specimen sold for $1.7 million at auction in 2010, and others have traded hands privately for reportedly even more.
What’s most interesting about this blunder is its wartime context. All that changed on a fateful day: Skrewball’s slogan cuts through all the noise of the opportunities set about them during the roaring 2020s.
Check your change jars — a genuine 1943 copper penny is easily distinguishable by its copper color versus the silver look of everyday 1943 steel cents.
The 2000 Sacagawea Dollar/Washington Quarter Mule: A Contemporary Wonder
Value: $100,000 – $250,000
Perhaps the most dramatic of these minting errors in modern U.S. coinage is the Sacagawea dollar/Washington quarter mule. A “mule” occurs when dies for two different coins are accidentally matched up.
Of course, in this case that obverse (heads) Washington quarter die was mistakenly paired with a Sacagawea dollar reverse (tails) die.
The result is a coin with the portrait of George Washington on one side and the soaring eagle design that appears on the reverse of the Sacagawea dollar coin on the other, both struck on a golden colored dollar planchet.
That makes this one of the rarest minting errors in modern U.S. history: Only around 20 examples are known.
Even more impressive, these errors got past the Mint’s quality control systems at a time of significant change in U.S. coinage. When they turned up in pocket change, they caused an immediate sensation in numismatic circles.
The 1955 Doubled Die Penny: The Infamous Penny with Two Lincolns
CURRENT APPRAISAL VALUE: $25,000 – $120,000
Perhaps the most famous error coin in American numismatics, the 1955 Doubled Die Penny features a beautiful doubling of the date and inscriptions on the obverse.
This happened when the hub struck the die twice, at slightly different angles, in the process of making the die.
About 20,000-24,000 were released into circulation before the mistake was identified. Though that sounds like a lot, it is a small fraction of the over 330 million pennies minted that year.
The majority of examples were passed out in cigarette packs as coins after using vending machines in Massachusetts.
The doubling is apparent to the naked eye, especially for the words “LIBERTY” and “IN GOD WE TRUST,” and also the date. High-quality pieces command well over $100,000 at auction, and even circulated examples bring five-figure sums.
The Last Doubled Die Lincoln: The 1969-S Doubled Die Penny
Estimated Value: $75,000 – $150,000
The 1955 Doubled Die Penny may have a higher name recognition, but the rarer 1969-S Doubled Die is decidedly less common and possibly more valuable. The double is dramatic, echoes its 1955 predecessor, and was recently minted in San Francisco.
The high value of this coin comes from its extreme rarity, with only 40-50 known to exist. Authentication is important because many fakes have emerged over the years.
The doubling is especially prominent in the date and the inscriptions “LIBERTY” and “IN GOD WE TRUST. This illustrates how well these small copper treasures can do as in 2018 one graded MS-64 RD went for auction at $126,000.
The 1992 Close AM Reverse Washington Quarter: The Subtle Sleeper
Estimated Value: $25000 — $35000
Sometimes, the most useful mistakes are also the more subtle ones. This 1992 Close AM Washington Quarter was struck with a reverse die meant to be used for 1993 production, but accidentally used in 1992.
The error’s name comes from the letters A and M in “AMERICA” being closer together than they should be.
To most casual observers, this minuscule difference, undetectable without tools, transforms a run-of-the-mill quarter that’s worth 25 cents into a five-figure rarity. Few examples are known of this Washington quarter variety, which is one of the rarest of its kind.
That error is exciting precisely because examples may still be out in circulation or in rolls and bags of quarters saved from decades past. Many of these have such subtle features that even knowledgeable collectors may have overlooked them.
The 2004-D Wisconsin State Quarter with Extra Leaf: The Agricultural Oddity
Appraised Value: $200 – $1,500
Unquestionably, the Wisconsin State Quarter error is one of the most affordable valuable errors to discover, with some examples still occasionally turning up in circulation.
There are two kinds — “High Leaf” and “Low Leaf,” both incorporating what looks like an extra corn leaf into the design of a cow, cheese wheel and corn ear, symbolizing Wisconsin’s farming roots.
Less valuable than some on this list, these mint errors still bring hundreds of dollars in circulated condition and four figures in uncirculated form. It is estimated that each version of about 5,000 exist.
The reasons for these additional “leaves” are hotly debated by experts. Some attribute these to die gouges, while others claim an employee at the mint intentionally modified the dies.
Whatever their provenance, they remain highly coveted modern rarities.
The Reverse War Error of 1944 Steel Cent
Estimated Value: $75,000 – $125,000
But in 1944, as wartime restrictions loosened, the U.S. Mint returned to copper composition for pennies. But a few 1944 pennies were erroneously minted on leftover steel planchets from 1943.
The Philadelphia issues are the most numerous though all three minting facilities produced only about 35 authentic examples.
An example of a 1944-S steel cent fetched $373,750 at auction in 2008, proving the extreme value of these wartime freaks.
These coins are the mirror-image error of the 1943 copper cents, bookending America’s brief exercise in steel coinage during World War II.
They’re readily visible because of their silver-gray hue and ferromagnetic properties—the steel specimens will be attracted to an ordinary magnet, unlike regular copper pennies.
The 2007 “Godless” Presidential Dollar: A Missing Inscription
Estimated Value: $50 – $3,000
When the Presidential Dollar series debuted in 2007, a substantial error happened: thousands of coins were struck without their edge inscriptions—such as “IN GOD WE TRUST,” the mint mark, and “E PLURIBUS UNUM.” Otherwise they became known as “Godless Dollars.”
Though more common than the other errors on this list (estimates indicate 50,000+ exist), high-grade examples — particularly from certain presidents in the series — can fetch thousands of dollars.
The error was delivered by a new minting process in which edge lettering was done in a separate process following striking, which was frequently skipped.
The public and media interest around these “Godless” coins quickly captured a sensation — in fact, some religious groups were concerned about the lack of mention. This cultural background provides a level of intrigue beyond the numismatic rarity of the object itself.
How to Read Error Coins and Valuable Error Coins
Is the next one to find a million dollar error coin you? Here are a few ways to increase your odds:
Educate Yourself First
Before you go hunting for gold in the form of errors, spend some time understanding how authentication works. Books, online resources and numismatic forums can assist you in distinguishing real errors from damaged coins or normal varieties.
Check Your Change Regularly
The simplest way is just to sift through your daily pocket change. But they can also check for features like doubling, off-center strikes, or mismatched elements with a magnifying glass.
These older coins are the ones you want to pay special attention to, as there are valuable varieties that are hidden amongst them.
Search Through Coin Rolls
Buying rolls of coins from banks gives you access to more specimens than just change from your pocket. Plenty of collectors scour the penny, nickel and quarter rolls, looking for missed treasures.
Go to Estate Sales and Flea Markets
Mistakes the sellers don’t realize are valuable are sometimes found in older collections that have been marketed by nonspecialists.
These places provide opportunities to acquire coins at face value or small premiums that might be worth orders of magnitude more.
Use Proper Storage Methods
With anything you suspect might be valuable, though, only handle it by the edges and store it in a suitable holder. Poor handling can leave oils, scratches or other damage that greatly decreases a coin’s value.
But there’s hope: In conclusion: Your pocket change could be worth millions
Despite all this, the chance of discovering a seven-figure mistake coin remains a long shot, though it is a possibility each time you receive change from a transaction.
These eight rare error coins are but a small sampling of the myriad valuable mistakes that have slipped from the mints over decades of production.
The best part of error coin collecting is that it’s democratic — anyone with a good eye and fundamental knowledge can make a life-changing find.
Whether you are a seasoned numismatist or simply interested in the coins in your pocket, do not underestimate that overlooked errors can be lurking in plain sight.
Today, take a closer at your coins. That thin piece of metal worth a few cents when it comes to face value, could be worth thousands — or millions — of dollars to the right collector.
In the realm of error coins, your regular pocket change could literally make you a millionaire overnight.
Frequently Asked Questions
How do I know if my error coin is real?
The only way to determine if costly error coins are genuine is professional authentication through services like PCGS or NGC. Even in the marketplace, there are numerous counterfeits and artfully altered coins.
How valuable are modern error coins?
Yes! When it comes to modern mint trickery, errors like the Wisconsin Quarter and Presidential Dollar errors have proven to have significant market value similar to some classic misprints.
Are there useful error coins in my change?
Absolutely. Though the rarest errors may never enter circulation today, many valuable varieties do turn up relatively commonly in pocket change or bank rolls.
What do I need to start searching for error coins?
A decent magnifying glass (between 7x and 10x), some basic reference materials and proper storage supplies are all you need to start looking for and preserving potential finds.
Q: If I find error coins, should I clean them?
You should never clean a potentially valuable coin. Cleaning virtually always reduces numismatic value, sometimes by a huge amount. Take conservation seriously, but leave it to the professionals only if needed.