10 Pennies You Can RETIRE from!

Mint Miser
9 Apr 202206:45
EducationalLearning
32 Likes 10 Comments

TLDRThis video educates viewers on identifying valuable and rare pennies, such as the 1992 Close AM Lincoln cent, which sold for $28,850. It highlights popular error coins like the 1955 double die and the 1909 S VDB, which fetched $117,500 at auction. The video also discusses factors affecting coin value, including mint marks, population, and color grading, with examples like the 1926 S penny that sold for $149,500. It showcases high-grade proof coins and the extremely rare 1944 S zinc plated steel planchet penny, which sold for $373,750, emphasizing the potential value hidden in everyday coins.

Takeaways
  • 🔍 The 1992 'Close AM' Lincoln cent is a rare variety where the 'A' and 'M' in 'AMERICA' are very close, and it has been found in circulation.
  • 💰 The 1992 Close AM Lincoln cent, graded mint state 67 red, sold for $28,850.
  • 👀 The 1955 double die Lincoln cent is a popular error coin with obvious doubling on Lincoln's image, and it can be identified with the naked eye.
  • 🏭 The 1922 'No D' Lincoln cent is a rare variety with no mint mark, and there are differences between the 'Week Reverse' and 'Strong Reverse' versions.
  • 💲 The 1922 'No D Strong Reverse' cent, graded mint state 64 red-brown, sold for $74,750.
  • 🌟 The 1909 'S VDB' Lincoln cent is highly sought after, with only 484,000 produced, and it features the designer's initials 'VDB' on the reverse.
  • 📈 The value of a coin can be determined by factors such as mintage, population, and condition, as seen with the 1909 SVDB penny auctioned for $117,500.
  • 🎨 Older red-graded pennies are generally worth more than those graded red-brown or brown, as exemplified by the 1969 S mint state 64 red double die penny worth $126,500.
  • 🏵 The 1926 'S' Lincoln cent in mint state 65 red grade is one of the rarest and was auctioned for $149,500.
  • 🌐 The 1864 'Elongated Ribbon' Indian cent is a proof coin with an estimated mintage of only 20, and it can be worth $161,000.
  • 🦅 The 1856 'Flying Eagle' cent, graded proof 67 plus, is one of 634 believed to have been minted for congressional approval and sold for $240,000.
  • 📜 The 1909 matte proof Lincoln cent, graded proof 67 plus and with a CAC gold label, is extremely rare with a known population of one at this grade, and it's worth $258,000.
  • 🛠 The 1944 'S' zinc plated steel planchet penny is one of only two known, graded mint state 66, and sold for $373,750 due to its rarity and condition.
Q & A
  • What is a 'Close AM' Lincoln cent and why is it valuable?

    -A 'Close AM' Lincoln cent is a 1992 penny with a reverse design error where the letters 'A' and 'M' in 'AMERICA' are very close to each other, a feature that was introduced in the 1993 design. It's valuable because it's a rare variety, with only about 20 found so far from both the Philadelphia and Denver mints, and can sell for thousands of dollars.

  • What is the significance of the 1955 double die Lincoln cent?

    -The 1955 double die Lincoln cent is one of the most popular error coins, with a doubling on the Lincoln image that is very obvious and can be seen with the naked eye. It's significant because it's a well-known and sought-after error coin, with even a well-preserved specimen grading mint state 65 selling for a high price at auction.

  • How do mint marks on coins indicate their origin?

    -Mint marks on coins indicate the mint where the coin was produced. Denver minted coins have a 'D' mint mark, while Philadelphia minted coins have a 'P' mint mark or no mint mark at all, depending on the year.

  • What is unique about the 1922 no mint mark Lincoln cent?

    -The 1922 no mint mark Lincoln cent is unique because it was minted in Denver but lacks the 'D' mint mark. Additionally, there are varieties within this variety, such as the 'no D week reverse' and the 'no D strong reverse,' with the latter being more valuable.

  • Why is the 1909 S VDB Lincoln cent highly desirable?

    -The 1909 S VDB Lincoln cent is highly desirable because it features the initials 'VDB' of the designer, Victor David Brenner, on the bottom of the coin's reverse. The initials were later removed due to public complaint, making the 1909 S VDB a rare and valuable coin.

  • What does the term 'population' refer to in coin collecting?

    -In coin collecting, 'population' refers to the number of coins of a particular variety known to be in circulation. It's a factor used to determine the value of the coin, with lower population numbers indicating greater rarity and value.

  • What makes the 1969 S mint state 64 red double die penny valuable?

    -The 1969 S mint state 64 red double die penny is valuable due to its obvious doubling on the words 'IN GOD WE TRUST' and 'LIBERTY,' as well as the date. Its red color designation and the fact that it's a double die make it a highly sought-after coin.

  • Why is the 1926 S penny considered rare?

    -The 1926 S penny is considered rare because it was graded in mint state 65 red, which is the highest grade known for this date. The combination of grade, population, and color makes it a rare and valuable coin.

  • What is the significance of the 1864 Elongated Indian Cent?

    -The 1864 Elongated Indian Cent is significant because it's a proof coin graded 65, and it's estimated that only 20 of these coins were struck. Its rarity and proof status make it a valuable coin for collectors.

  • What makes the 1856 Flying Eagle Cent so valuable?

    -The 1856 Flying Eagle Cent is valuable because it's one of only 634 coins believed to have been minted by a specific die pair for approval by members of Congress. Its high grade of proof 67 plus and historical significance contribute to its value.

  • What is unique about the 1909 Matte Proof VDB Lincoln Cent with a CAC Gold Label?

    -The 1909 Matte Proof VDB Lincoln Cent with a CAC Gold Label is unique because it's graded at a very high proof 67 plus, indicating exceptional quality. The CAC Gold Label signifies that the coin is considered to be at the high end of its grade by the Certified Acceptance Corporation, making it extremely valuable.

  • Why was the 1944 S Zinc Plated Steel Planchet Penny so expensive at auction?

    -The 1944 S Zinc Plated Steel Planchet Penny was expensive at auction because it's one of only two known examples and the only known uncirculated example. Its rarity and unique composition make it an extremely valuable coin.

Outlines
00:00
🔍 Rare Penny Identification Guide

This paragraph introduces viewers to the world of rare and valuable pennies, focusing on the 1992 Close AM Lincoln cent, a rare variety caused by a design change in 1993 that mistakenly appeared on some 1992 coins. Only about 20 of these have been found, and one in mint state 67 red sold for $28,850. The video also covers the popular 1955 double die penny, which is easily identifiable by its obvious doubling and sold for $59,225 in mint state 65. The segment highlights the importance of mint marks, with the Denver mint coins having a 'D' and Philadelphia coins having a 'P' or no mint mark. It discusses the 1922 no D variety, with the weak reverse being more common than the strong reverse, which sold for significantly higher prices. The paragraph concludes with the highly sought-after 1909 S VDB penny, which features the designer's initials and had a limited mintage, fetching high prices even in poor condition.

05:01
🏵️ High Value Penny Varieties and Errors

The second paragraph delves into more high-value penny varieties and errors, starting with the 1909 S VDB penny, which is highly desirable due to its limited mintage of only 484,000 coins and can fetch over $700 even in poor condition. A mint state 67 red example sold for $117,500 at auction. The video then presents a 1969 S mint state 64 red double die obverse penny, emphasizing the coin's obvious doubling and its value of $126,500. The importance of population in determining a coin's value is highlighted, with the 1926 S penny in mint state 65 red being one of the rarest and selling for $149,500. The paragraph also features the 1864 Elongated Indian cent, a proof coin with an estimated mintage of only 20, valued at $161,000. Lastly, it mentions the 1856 Flying Eagle cent, graded proof 67 plus, one of only 634 coins minted for congressional approval, which sold for $240,000 at auction.

Mindmap
Keywords
💡Close AM
The 'Close AM' refers to a specific variety of the 1992 Lincoln cent where the letters 'A' and 'M' in 'America' on the reverse side of the coin are unusually close together. This is a result of the 1993 reverse dies being mistakenly used for some 1992 cents. The video highlights the 'Close AM' as a rare variety that is still being discovered in circulation, with only about 20 known from both the Philadelphia and Denver mints, emphasizing its significance in the theme of identifying valuable pennies.
💡Double Die
A 'Double Die' is a minting error where a coin's design appears doubled due to a mistake in the striking process. The video mentions the 1955 double die Lincoln cent as one of the most popular error coins, with the doubling on the coin being very obvious and visible to the naked eye. This concept is central to the video's theme of identifying rare and valuable pennies, as error coins like this one can be highly sought after by collectors.
💡Mint Mark
A 'Mint Mark' is a small letter found on a coin that indicates which U.S. Mint facility produced it. The video explains that Denver-minted coins have a 'D' mint mark, while Philadelphia-minted coins have a 'P' or no mint mark at all, depending on the year. The script uses the 'Mint Mark' to differentiate between coins and highlight the rarity of certain varieties, such as the 1922 no 'D' Lincoln cent.
💡1909 S VDB
The '1909 S VDB' is a highly desirable Lincoln cent because it features the initials 'VDB' of its designer, Victor David Brenner. The video emphasizes that the 'S' in '1909 S VDB' denotes the San Francisco Mint, and the 'VDB' initials were later removed due to public disapproval. The coin is notable for its rarity, with only 484,000 produced, and its high value, especially in better conditions, making it a key example in the video's exploration of valuable pennies.
💡Population
In the context of coin collecting, 'Population' refers to the number of coins of a particular type that are known to exist or are in circulation. The video uses 'Population' to explain the rarity and value of certain coins, such as the 1926 S penny, where a low population combined with a high grade and desirable color can significantly increase a coin's worth.
💡Proof Coin
A 'Proof Coin' is a specially struck coin, typically of higher quality than regular circulation coins, made for collectors or as a demonstration of the coin's design. The video mentions the 1864 Elongated Ribbon Indian Cent and the 1856 Flying Eagle Cent as examples of proof coins, which are highly valued due to their limited mintage and exceptional condition.
💡CAC Gold Label
The 'CAC Gold Label' is a certification mark from the Certified Acceptance Corporation, indicating that a coin is considered to be at the high end of its grade by NGC or PCGS, the leading coin grading services. The video uses the 1909 Matte Proof VDB penny with a CAC Gold Label as an example to illustrate how additional certifications can enhance a coin's value and desirability among collectors.
💡Zinc Plated Steel Penny
The 'Zinc Plated Steel Penny' refers to the 1944 S penny, which is unique because it was made with a steel planchet that was zinc plated, unlike the regular steel pennies of 1943. The video highlights this coin as an extreme rarity, with only two known examples, and emphasizes its exceptional value, as evidenced by its auction price.
💡Mint State
The term 'Mint State' is used to describe coins that are in a condition as close to perfect as possible, without any wear from circulation. The video discusses various mint state grades, such as 'Mint State 65 Red' for the 1926 S penny and 'Mint State 66' for the 1944 S zinc plated steel penny, to illustrate the importance of condition in determining a coin's value.
💡Grading
Coin 'Grading' is the process of assigning a grade to a coin based on its condition, using a numerical scale from 1 to 70. The video mentions several grading examples, such as 'Mint State 65' and 'Proof 65', to explain how grading helps determine a coin's value and collectibility, especially when the coins are in exceptional condition.
Highlights

The 1992 close am Lincoln cent is a rare variety with the 'A' and 'M' in 'America' very close together, still found in circulation.

Only about 20 of the 1992 close am varieties have been found from both Philadelphia and Denver mints.

A 1992 Lincoln cent graded mint state 67 red with the close am designation sold for $28,850.

The 1955 double die is a popular error coin with obvious doubling on Lincoln's image, visible to the naked eye.

A well-preserved 1955 double die Lincoln cent graded mint state 65 sold for $59,225 at auction.

Denver minted coins have a 'D' mint mark, while Philadelphia minted coins have a 'P' or no mint mark.

The 1922 no D Lincoln cent from the Denver mint, with no mint mark, is a rare variety.

The 1922 no D week reverse sold for $5,750, while the no D strong reverse graded mint state 64 red brown sold for $74,750.

The 1909 S VDB Lincoln cent is highly sought after, with only 484,000 produced.

The 1909 S VDB Lincoln cent, graded mint state 67 red, sold for $117,500 at auction.

The 1969 S mint state 64 red double die penny with obvious doubling is worth $126,500.

Population, the number of coins known to be in circulation, is a key factor in determining a coin's value.

The 1926 S Lincoln cent in mint state 65 red grade is one of the rarest, selling for $149,500 at auction.

The 1864 Elongated Indian cent, graded proof 65, is estimated to have only 20 struck and is worth $161,000.

The 1856 Flying Eagle cent, graded proof 67 plus, is one of 634 coins believed to be minted for congressional approval, selling for $240,000.

The 1909 VDB Matte Proof Lincoln cent, graded proof 67 plus with a CAC gold label, has a known population of one and is worth $258,000.

The 1944 S Zinc Plated Steel Planchet Penny is one of only two known, graded mint state 66, and sold for $373,750.

The video also mentions a 'Cheerios Dollar', suggesting it's a valuable coin to look out for.

Transcripts
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