How Much is Your Old Penny Worth?
TLDRThis video script explores the value of six different pennies, ranging from a 1915 penny to an 1869 penny. The narrator explains coin grading terms like 'poor' to 'uncirculated' and provides average selling prices for each grade. Highlights include a rare 1951 penny and a sought-after 1919 KN penny from the Kings Norton works. The script also advises viewers on how to identify and value their own coins, especially the scarce 1869 penny, even with imperfections like a drilled hole.
Takeaways
- π The video discusses the value of six different pennies and their worth in better condition.
- π The 1915 penny is hard to find in uncirculated condition and is worth more in very fine condition, around three pounds.
- π° Coin grading descriptions are provided, ranging from 'Poor' to 'Uncirculated', with 'Poor' being the least valuable and 'Uncirculated' the most.
- π The 1950 penny is a lower minted coin and can be worth up to 40 pounds in uncirculated condition.
- π The 1951 penny is extremely rare, with only 120,000 minted, and can be worth up to 80 pounds in uncirculated condition.
- π The 1919 'KN' penny, minted at the Kings Norton works in Birmingham, can be worth over a thousand pounds in uncirculated condition.
- π°οΈ The 1864 penny, even in fair condition, can be worth five pounds, and can go up to 3,000 pounds or more in uncirculated condition.
- π The 1869 penny is a sought-after coin with a known mintage discrepancy, and even in poor condition, it can be worth ten pounds or more.
- π‘ The video warns viewers to be cautious when buying coins online, as listings may not accurately represent the coin's condition.
- π The value of coins can significantly increase with better condition, as shown with the 1869 penny jumping from 63 pounds in very good condition to over 4,300 pounds in uncirculated.
- π The video encourages viewers to check their own collections for these valuable coins, as they might be worth a considerable amount.
Q & A
What is the significance of the 1915 penny in the context of the video?
-The 1915 penny is significant because it is notoriously hard to find in extremely fine or uncirculated condition, likely due to weak strikes at the time of minting. The video suggests that even a 1915 penny in standard condition holds value.
What are the different coin grades mentioned in the video?
-The video mentions several coin grades: poor, fair, good, very good, fine, very fine, extremely fine, and uncirculated. Each grade corresponds to the level of wear and preservation of the coin.
How much is a 1915 penny worth in very fine condition?
-A 1915 penny in very fine condition is worth about three pounds according to the video.
What is the value of a 1950 penny in very fine condition?
-A 1950 penny in very fine condition is estimated to be worth about 12 pounds.
Why is the 1951 penny considered rare?
-The 1951 penny is considered rare because only 120,000 of these were minted, which is half as many as the Kew Gardens 50p coin.
What does 'KN' on a 1919 penny signify?
-The 'KN' on a 1919 penny stands for Kings Norton, which was a mint mark indicating that the coin was minted at the Kings Norton works in Birmingham, not at the Royal Mint in London.
What is the estimated value of an extremely fine 1919 KN penny?
-An extremely fine 1919 KN penny could be worth about 600 pounds, and an uncirculated one with some luster could fetch well over a thousand pounds.
What is the condition of the 1864 penny shown in the video?
-The 1864 penny shown in the video is in fair condition, but the date is clearly readable, which makes it valuable.
How much is an uncirculated 1864 penny worth?
-An uncirculated 1864 penny is estimated to be worth over 3,000 pounds.
Why is the 1869 penny highly sought after by collectors?
-The 1869 penny is highly sought after because, despite an official mintage figure of over two and a half million, collectors believe that very few were actually minted with the 1869 date, making it scarce.
What is the estimated value of an extremely fine 1869 penny?
-An extremely fine 1869 penny is estimated to be worth 1,773 pounds on average.
What advice does the video give for buying extremely fine or uncirculated coins online?
-The video advises viewers to be wary when buying extremely fine or uncirculated coins online, especially on eBay. It suggests that the coins may not be as described and to look out for fuzzy or out-of-focus pictures, which could be a sign of misrepresentation.
Outlines
π Coin Condition and Value Analysis
This paragraph discusses the value and condition of six pennies, focusing on a 1915 penny which is hard to find in uncirculated condition. The speaker explains the grading system for coins, ranging from 'Poor' to 'Uncirculated', and provides examples of each grade. The 1915 penny is valued at different prices depending on its condition, with an uncirculated one being worth up to Β£70. The paragraph also clarifies misconceptions about what constitutes uncirculated coins and briefly introduces a 1950 penny, a lower minted coin with its own value scale.
ποΈ Rare Penny Coins and Their Market Value
The second paragraph delves into the value of rare penny coins, starting with a 1951 penny, one of which was provided by Ian Ritchie. Only 120,000 of these were minted, making it highly valuable, especially in uncirculated condition, which could fetch around Β£80. The speaker warns about the authenticity of coins sold online, particularly on eBay. The discussion continues with a 1919 'KN' penny, minted at the Kings Norton works due to high demand post-World War I. In extremely fine or uncirculated condition, these can be worth over Β£600 or even a thousand pounds. The paragraph also covers the 1864 penny, which despite its age, can be quite valuable, especially in uncirculated condition, where it could be worth over Β£3,000. Lastly, the 1869 penny is highlighted as an extremely sought-after coin, with even a damaged example fetching a good price, and an uncirculated one being worth over Β£4,300.
Mindmap
Keywords
π‘Penny
π‘Condition
π‘1915 Penny
π‘Minted
π‘Kings Norton
π‘Collectors
π‘Grade
π‘Circulation
π‘Scarce
π‘Investment
π‘Subscription
Highlights
Introduction to evaluating the worth of six pennies based on their condition.
1915 pennies are notoriously hard to find in excellent condition due to weak strikes.
Explanation of coin grades: very good fine, very fine, extremely fine, and uncirculated.
Poor condition coins are extremely worn with most details missing but still identifiable.
Fair condition coins are worn but discernible by size and some features.
Good condition coins show considerable wear with some lettering possibly not visible.
Very good condition 1915 pennies are worth about 50p.
Extremely fine 1915 pennies can be worth up to Β£20, and uncirculated ones up to Β£70.
Definition of very good, fine, very fine, extremely fine, and uncirculated coin grades.
1950 pennies are lower minted and can be valuable, especially in very fine condition.
1951 pennies are rare, with only 120,000 minted, and can be worth up to Β£80 uncirculated.
Advice on being cautious when buying extremely fine or uncirculated coins online.
1919 KN (Kings Norton) pennies are valuable, especially in extremely fine condition.
1864 pennies can be worth Β£3,000+ in uncirculated condition.
1869 pennies are highly sought after, with even poor condition ones holding value.
A genuine uncirculated 1869 penny can be worth over Β£4,300.
Encouragement to check for valuable coins in personal collections or lofts.
Transcripts
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