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The the 1-cent penny that could be worth $11,500 dollars
A penny lying around your house could be worth a lot more than 1-cent. Check out this rare coin that could be worth up to $11,500 if sold in good condition.
Millions of coins and banknotes are in circulation every day. The vast majority are only worth their face value; in other words, one penny is worth one cent, a nickel is worth five, and so on and so on.
However, due to errors that occur during the coin production process or versions that are only minted for a limited time, the value of certain coins can increase beyond their official value.
Certain coins can sell for hundreds or thousands of dollars, but whether you have one of these special coins lying around depends on several factors. According to the US First Exchange website, the value of a coin or bill is determined based on three main factors: rarity, condition/grade of the coin, and demand.
This is the 1-cent coin that can be worth $11,500
Some 1983 pennies can be worth $11,500 if they are in good condition and contain the following characteristics.
Due to an issue at the mint, some of these coins are doubled minted.
In the case of the 1983 penny, one side will feature a bust of President Abraham Lincoln, with the phrase ‘IN GOD WE TRUST’ on the upper periphery, the word ‘LIBERTY’ to the left of the portrait, and the date located on the right side.
What gives the coin its extraordinary value is the double minting on the other side of the coin, which features the Lincoln Memorial and the words ‘ONE CENT,’ ‘UNITED STATES OF AMERICA,’ and ‘E PLURIBUS UNUM.’ When looking at the wording, pennies where one can see that the machine has pressed the words in twice, could be worth thousands. The double minting is typically visible on the date (1983) and the phrases E PLURIBUS UNUM and ONE CENT, as well as in the word UNITED in the phrase UNITED STATES OF AMERICA.
The “condition” of a coin refers to the price at which it can be sold. Prices for this coin range from $325 for an MS-63 grade to $11,500 for an MS-68 grade, which indicates that it is in perfect condition.
If you believe that you possess this coin or another example that meets the criteria of rarity, good condition, and low demand, you can visit a pawn shop where they may offer you something in exchange. Alternatively, you can search for specialized Facebook groups or check eBay.
You can also visit the website of the Professional Coin Grading Service (PCGS) to determine the value of each coin and see how much it has sold for based on its condition.