Coin collecting or numismatics-an endeavor involving history, artistic skill, as well as the thrill discovering a rare treasure. From the enormous array of coins that exist, some are highlighted for their rarity and high market values, for example, the 1939 Jefferson nickel, which was auctioned for $350,000. Let us discover the history of this wonderful coin and also find out about three other valuable coins that hide somewhere near you.
The 1939 Jefferson nickel: A piece of history
Introduced in 1938, the Jefferson nickel features the profile of Thomas Jefferson on the front and his famous residence, Monticello, on the back. The 1939 version is especially valuable because it has some special variations that significantly increase its value.
Major Variations of the 1939 Jefferson Nickel
Variety Description
- 1939 Double Monticello A rare minting error in which the image of Monticello is doubled.
- 1939 Reverse of 1940 A unique error in which the obverse design resembles the 1940 nickel.
- 1939 “Full Steps” Coins with clear stairs on the portico of Monticello.
- Coins with high quality preservation, specific errors, or unique features can fetch prices up to $350,000 at auction.
Three More Rare and Valuable Coins
But the 1939 Jefferson nickel is one of the best examples; many other coins fall into the same highly-valued group for their rarity and unique features.
1. 1893-S Morgan Silver Dollar
The 1893-S Morgan Silver Dollar is one of the rarest coins in U.S. history. Only 100,000 coins were minted, the lowest number in this series. Many of these coins were in circulation in large quantities or were melted down, further increasing their rarity. Even worn-out coins can be valuable, while new and uncirculated coins have fetched prices of over $2 million at auction.
Key Features:
- This Mint Mark specifies, “S,” the coin was minted in San Francisco.
- Design: Lady Liberty on the obverse while an eagle that holds an arrow with one leg and olive branch with another leg is on the reverse.
- Composition: 90% silver and 10% copper.
2. 1913 Liberty Head Nickel
The 1913 Liberty Head nickel is a mysterious coin, as only five coins are known to have been minted. This extreme rarity makes it one of the most valuable coins in numismatics. One coin has sold for $3.7 million.
Key Features:
- Design: Lady Liberty wearing a crown on the front and the Roman numeral “V” (five) on the reverse.
- Minting History: This coin was minted illegally after the official change to the Buffalo nickel in 1913.
3. 1943 Copper Penny
During World War II, the U.S. Mint minted most pennies in steel due to a copper shortage. However, some copper pennies were minted by mistake, making them extremely rare. One such coin has sold for $840,000.
Key Features:
- Composition: Regular 1943 pennies were steel; any copper coin is a minting error.
- Appearance: Similar to the standard penny, but the copper color is retained.
- Identification: Copper pennies are not magnetic, while steel pennies are.
How to Identify Valuable Coins
Identifying valuable coins in your collection or everyday coins requires a sharp eye. Here are some expert tips:
- Check for minting errors: Look for doubled images, missing letters or unusual spaces.
- Check the date and mint mark: Certain years and mints produce rarer coins.
- Assess the coin’s condition: Coins in better condition (higher grades) fetch higher prices.
- Use a magnifying glass: Small details can highlight unique features or errors.
Conclusion
Coin collecting is a rewarding and educational journey. Although finding coins like a 1939 Jefferson nickel or an 1893-S Morgan silver dollar is rare, the excitement of the search and the knowledge gained make this hobby incredibly satisfying. Whether you’re an experienced collector or just starting out, looking for these valuable coins can lead to exciting finds. Happy collecting!
FAQs
Q1. How do I find out what a coin I have is worth?
A1. Start by identifying the coin’s type, year and mint mark. Assess its condition using a grading scale and consult reputable coin appraisal guides or have it appraised by a professional numismatist.
Q2. Are all coins with minting errors valuable?
A2. Not necessarily. Rarity, the type of error, and demand among collectors determine a coin’s value. Some errors are in high demand, while others have less value.
Q3. Should I clean my coins to make them look better?
A3. No. Cleaning can scratch coins or damage their natural patina, which can reduce their value. If necessary, consult a professional before cleaning any rare coin.
Q4. Where can I sell valuable coins?
A4. You can sell coins through online auction sites, coin dealers, and numismatic conventions. Be sure to research reputable platforms or dealers to ensure you get a fair market value.