AN INCREDIBLY rare coin has fetched a pretty penny at auction.
A scarce 1872 Indian Head penny was sold at auction for a staggering $126,500, according to Spruce Crafts.
The rare coin, which was one of 4 million made, is so rare because "few people were able to save coins for their collections" at the time, due to financial hardships of the time, according to the website.
As a result, most went into circulation and are not in the exception condition required to be sold for a huge sum.
It comes after a Lincoln penny minted in 1992 was sold for over $25,000, and it is estimated that only 10 of them exist.
The rare penny was designed by Frank Gasparro, who also designed a 50 cent John F. Kennedy coin.
The rare coin is considered special because the written "AM" letters in "America" are very close to each other, nearly touching.
Read our rare coins live blog for the latest news and updates...
WHEN WAS THE NATIONAL MINT ESTABLISHED?
The Coinage Act of 1792 established a national mint to regulate the coinage in the United States.
At the time, the Act started the newly created US dollar to the value of the widely used Spanish silver dollar, saying it was to have the value of a Spanish milled dollar.
IS THE $2 BILL RARE?
While it is less common than other paper bills, $2 bills aren’t uncommon, and their value is $2.
Thomas Jefferson’s face has been printed on the bill since 1869, and the first person to appear on the bill was Alexander Hamilton.
THE NICKEL’S HISTORY: COIN HAS SEEN MANY DESIGN ITERATIONS
The US nickel was introduced in 1866, after the United States was in crisis, and so was its currency after the events of the Civil War.
The first design on the five-cent coin was the Shield nickel, which was struck from 1866 until 1883.
The shield was replaced by the Liberty Head nickel, followed by the Buffalo nickel in 1913, as part of a drive to increase the beauty of American coinage.
It wasn’t until 1938, that President Thomas Jefferson officially graced the obverse (or heads side) of the nickel.
WHAT ARE PENNIES MADE OF?
If your penny is older than 1982, it is made from 95% copper.
Pennies made in 1983 or later are made from 97.5% zinc.
HOW MANY COINS HAVE BEEN MINTED THIS YEAR?
There are billions of coins currently in circulation in the US.
Figures by the United States Mint show that 11.2billion coins have been produced for circulation so far in 2021.
2-CENT AND 3-CENT COINS
Two and three cent coins used to exist. However, the US discontinued them after prices went up, as it was no longer practical to use the coins.
The coins were used before 1873 and 1889.
FIRST ANIMALS
The first animal to appear on a US coin was an eagle, in 1794.
Following the eagle was a bison, which appeared on the nickel from 1913 until 1938.
MOST VALUABLE RARE COINS UP TO $10,000, PART 3
The Capped Bust coinage of the US consisted of a half dime, dime, quarter, and half dollar.
This particular design lasted from 1809 to 1837 on the dime, selling for $3,383 in Spring 2021.
The Morgan dollar was first minted from 1878 to 1904 and appeared again in 1921 and 2021.
One of the coins from 1893 recently sold for $2,550 on eBay, after attracting more than 45 bids.
Check your spare change as you never know what you might find!
MOST VALUABLE RARE COINS UP TO $10,000, PART 2
Another valuable coin to look out for?
The $1 Gold Liberty Head, which is the smallest ever coin struck at the US Mint.
A version of this coin from 1854 racked up more than 40 bids and sold for $3,401 on eBay in March 2021.
The first $5 Capped Bust coins were released in 1807 with a reported mintage of less than 34,000.
So it wasn’t surprising when a version of this coin from 1808/1809 sold for $3,400 on eBay in April 2021, having attracted more than 35 bids from potential buyers.
MOST VALUABLE RARE COINS UP TO $10,000
There are many rare coins out there, but knowing what to keep an eye out for is crucial.
The Flowing Hair dollar was the first official silver $1 coin.
The design was created in 1794 but only lasted until 1795 when it was replaced with the Draped Bust version.
This coin recently sold for $10,633 on eBay.
The Gold Eagle was the first-ever gold coin issued by the US Mint.
It originated in 1792 and has a denomination of $10.
The priciest version of this coin sold for a price tag of $7,988.
RIDGED EDGES DESIGNED TO PROTECT COINS
Issac Newtown carried out adding reeded edges to coins to prevent people from altering coins.
This was back when coins were made from gold and silver.
THE FACES OF US MONEY
In 1866, a federal was enacted preventing any living person’s image from being printed on American money.
Lady Liberty first appeared on American coins, while the American eagle appeared on the reverse side.
Presidents have traditionally been featured on money, dating back to 1909 when Abraham Lincoln became the first to appear on a US coin.
1955 LINCOLN WHEAT CENT SELLS FOR JUST OVER $1800
Another Philadelphia-minted Lincoln coin sold for $1,801.
There is a similar error on this coin, which features the doubling of the words “In God We Trust” on the top and “Liberty” on the left side.
“It is very hard to miss this error so it is easy to tell the difference between the real one and the 1955 ‘poor mans’ doubled die which is no where near as noticeable,” said USA Coin Book.
The wheat penny, which was later replaced by the memorial cent, picked up a total of 40 bids on eBay.
RARE COINS WERE HIDDEN IN A ROCK CLEFT
According to @archeohistories on Twitter, coins dating back to the period of Hasmonean (126 BC) were found in a rock in Isreal.
Several bronze coins were also found, “carrying the names of Jewish Hasmonean rulers among them Judea and Yehonatan, they said.
SILVER DOLLAR COINS
The Morgan silver dollar coin is named after its designer, US Mint assistant engraver George T. Morgan.
The coin was minted from 1878 to 1904, again in 1921, and as a special non-circulating coin in 2021.
The 1893 Morgan dollar is said to be the rarest, so it’s no surprise that it sold on eBay for $4,550 earlier this year.
Currently, there are various Morgan silver dollar coins from 1893 listed in the thousands on eBay.
If you have one in your change collection, you might be able to cash in on the silver dollar craze.
FLYING EAGLE SOARING HIGH
A penny from 1856 sold for more than $11,000 in August 2021.
Designed by portraitist James Barton Longacre, the circulated coin features an eagle on one side with “one cent” shown on the other.
More than 65 bids were collected on eBay in pursuit of the coin.
RARE COLONIAL NEW ENGLAND COIN UP FOR AUCTION
On October 21, 2021, it was announced that a rare coin from Colonial New England could fetch hundreds of thousands of dollars at an auction in November.
According to The Associated Press, the coin was found in the United Kingdom in a tin containing other old coins.
Jim Bailey, a coin expert from Warwick, Rhode Island, said that only 40 or so of the coins exist.
The auction will be held in London on November 26.
DIME A DOZEN
A rare 10-cent coin sold for more than $1,556 on eBay in August 2021.
Known as the Mercury dime, it was designed by Adolph A. Weinman in 1916.
The coin features a Liberty wearing a winged cap.
DO YOU HAVE THIS RARE PENNY IN YOUR WALLET?
If so, it might be worth $2,000.
The so-called D penny from 1969 features the 16th President of the US, Abraham Lincoln.
The D on this particular penny, featured below the year 1969 on the right-hand side, means the coin was minted in Denver.
A recent bid for the rare D penny on eBay racked up more than 20 bids.
CHECK YOUR WALLET … AND YOUR WALLS?
What would you do if you found rare coins hidden in the walls of your home?
According to Daily Sabah, stonemasons dug out more than 200 coins minted prior to the French Revolution.
The discovery was made as the workers began renovating the property located in the western Brittany region of France.
An auction took place in September 2021 and the coins were sold for more than $1.2 million.
WHICH US PRESIDENT IS ON THE NICKEL?
The US nickel was introduced in 1866 after the Civil War.
It wasn’t until 1938 that President Thomas Jefferson’s face appeared on the coin.
CHECK YOUR CHANGE FOR THIS RARE PENNY
A rare penny from the 1900s has sold for $1,500.
Designed by sculptor Victor David Brenner, the penny features US President Abraham Lincoln.
This gem of a penny sticks out in particular due to the designer’s initials, “V.D.B.,” on the back of the coin.
According to Professional Coin Grading Service president Ron Gruth, just 484,000 pennies have been issued with VDB initials.
WHICH PRESIDENT IS ON THE PENNY?
Abraham Lincoln, the 16th President of the US, is on the one-cent coin.
In 1909, he became the face of the penny.
DO YOU HAVE A RARE BUFFALO INDIAN NICKEL?
The 1937 nickel features a buffalo with three legs on one side and an Indian head on the other.
The Buffalo nickel was introduced in 1913 as part of a drive to increase the beauty of American coinage.
Check your change pile, as this rare nickel sold on eBay for $1,400.
WHICH US PRESIDENT IS ON THE QUARTER?
George Washington, the first President of the US, is featured on the 25-cent coin.
The founding father was first featured on the quarter in 1932, commemorating his 200th birthday, according to the US Money Reserve.
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