Do You Have a Rare 1920 Penny - Worth Thousands?
TLDRIn this video, the host discusses the differences between the obverse 2 and obverse 3 designs of the 1920 British penny, highlighting their mintage figures and the subtle distinctions. The video guides viewers on how to identify the two types, focusing on the gaps between specific letters and the placement of a colon on the coin. The rarity of a 1920 obverse 3 penny, known to exist only in the British Museum, is explored, along with speculation on its origin and potential value for collectors, estimated to be in the thousands if genuine.
Takeaways
- 🪙 The 1920 penny is a common coin with over 124 million minted.
- 🔍 There are two types of obverse (front side) designs: obverse 2 and obverse 3.
- 🤔 The British Museum has a unique 1920 penny with an obverse 3 design, which is a mystery why it exists.
- 📈 The mintage ratio for 1921 pennies was approximately 40% obverse 2 and 60% obverse 3.
- 🔎 The difference between obverse 2 and 3 can be identified by the spacing between 'A', the colon, and 'B' on the coin's design.
- 💡 Obverse 3 has larger gaps between these letters compared to obverse 2.
- 🕵️♂️ A method to distinguish obverse types is by examining the colon below 'IMP' on the coin's reverse side.
- 📆 The change from obverse 2 to 3 occurred mid-way through 1921, possibly to combat 'ghosting'.
- 👻 Ghosting was an issue where the design from one side of the coin bled through to the other.
- 🏛️ The British Museum likely acquired the unique 1920 obverse 3 penny in 1921.
- 💰 A 1920 penny with an obverse 3 design could be worth thousands of dollars due to its rarity.
Q & A
What is the mintage figure for the 1920 penny discussed in the video?
-The mintage figure for the 1920 penny discussed is over 124 million.
What are the two different obverse types of the 1920 penny mentioned in the video?
-The two different obverse types mentioned are obverse 2 and obverse 3.
How can you identify the difference between obverse 2 and obverse 3 on a 1920 penny?
-The difference can be identified by looking at the gaps between the letters 'A' and 'B' and the colons on either side. In obverse 2, these gaps are smaller, while in obverse 3, they are much larger. Additionally, the position of the line drawn through the dots of the colon in relation to the coin's teeth or beads can help distinguish between the two types.
What is the estimated rarity of a 1920 penny with obverse 3 according to Michael J Freeman?
-The estimated rarity of a 1920 penny with obverse 3 is R19, which suggests that there could be two to five such coins in existence.
Why might the British Museum have a 1920 penny with obverse 3 in their collection?
-The British Museum might have a 1920 penny with obverse 3 because it is believed that the Royal Mint may have minted a few and sent the best one to the museum after they requested a replacement for a poor-quality 1920 penny.
What is the significance of finding a 1920 penny with obverse 3?
-Finding a 1920 penny with obverse 3 would be significant for collectors as it is considered rare, with an estimated value in the thousands, especially due to the high demand from completionists.
How many 1921 pennies were minted, and what was the distribution of obverse 2 and obverse 3?
-Over 129 million 1921 pennies were minted, with approximately 40% having obverse 2 and about 60% having obverse 3.
What is ghosting, as mentioned in the context of the 1920 penny?
-Ghosting is a phenomenon where the image from one side of a coin is faintly visible on the other side. This issue troubled the Royal Mint during the early stages of George V's coins.
What is the recommended method for a coin collector to identify the obverse type of a 1920 penny?
-A coin collector can use a magnifying glass to examine the gaps between the letters and colons on the obverse side, as well as the position of the line through the colon's dots in relation to the coin's teeth or beads.
How can a 1920 penny with obverse 3 be distinguished from a 1921 penny with obverse 3?
-A 1920 penny with obverse 3 can be distinguished by its date, but also by the fact that it is believed to have been minted in 1921, possibly as a replacement for the British Museum's collection.
What is the role of the British Museum in the context of coin minting?
-The British Museum acquires one of each new coin that is minted, likely for archival and historical purposes. It is possible that they received a unique 1920 penny with obverse 3 as part of their collection.
Why is it difficult to spot the difference between obverse 2 and obverse 3 on a 1920 penny?
-The difference between obverse 2 and obverse 3 is subtle, requiring close examination and possibly the use of a microscope to clearly see the variations in the gaps and the positioning of the colon's line.
Outlines
🔍 Unveiling the Mystery of the 1920 Penny Obverses
The presenter introduces a 1920 penny, noting its high mintage but highlighting a unique variant housed in the British Museum with an obverse three, unlike the common obverse two. The video aims to detail the differences between these obverses, encouraging coin collectors to subscribe and engage. Utilizing a collection of 1921 pennies, the presenter explains the distribution of obverse types for that year and provides a visual comparison under a microscope. Differences are showcased, especially in the spacing between certain letters, which are significant yet subtle, requiring careful observation. The presenter employs a detailed approach, combining visual aids and a physical examination of coins to elucidate the distinctions between the two obverse types, potentially guiding viewers to discover an ultra-rare variant.
🕵️ The Quest for a Rarity: Investigating the 1920 Obverse 3 Penny
The second part of the video delves into the speculation around how the British Museum came to possess a 1920 penny with an obverse three, suggesting it was minted in 1921. The presenter theorizes that the Royal Mint might have produced several of these coins, not just one, leading to the possibility that others exist. This hypothesis is supported by referencing a coin catalog, hinting at the potential rarity and value of such a find. The narrative shifts towards the challenge of spotting these rare variants and the excitement of possibly discovering one, reflecting on the intense interest and potential value among collectors. The video concludes with a call to action for viewers to subscribe for more content, emphasizing the thrill of coin collecting and the pursuit of rare finds.
Mindmap
Keywords
💡1920 penny
💡mintage figure
💡obverse 2 and obverse 3
💡British Museum
Highlights
Introduction to the common 1920 penny with over 124 million minted, mentioning the unique obverse 3 variant in the British Museum.
Explanation of the difference between obverse 2 and obverse 3 variants using 1921 pennies as examples.
Description of how to distinguish between obverse 2 and obverse 3 by examining the spacing between the words 'GRAH' and 'BRIT' under a microscope.
Comparison of obverse 2 and obverse 3 under the microscope, highlighting the differences in gap size.
Introduction of another method to differentiate obverse types by examining the colon after 'IMP' at the bottom of the coin.
Discussion on the change from obverse 2 to obverse 3 during 1921 to combat issues like ghosting.
Speculation on why the British Museum has a unique 1920 penny with obverse 3.
Investigative approach to understanding how the British Museum acquired its unique 1920 penny with obverse 3.
Theory that the Royal Mint may have minted multiple obverse 3 coins in 1921, potentially leading to more existing examples.
Explanation of the rarity scale for coins, with the 1920 penny with obverse 3 ranked as R19, indicating 2 to 5 might exist.
Discussion on the difficulty of spotting the rare obverse 3 variant and the potential high value of such a discovery.
Speculation on the significant value of a genuine 1920 penny with obverse 3, potentially exceeding £10,000.
Encouragement for viewers to subscribe for more coin-related content and the importance of such discoveries for collectors.
Closing remarks on the intrigue of coin collecting and the pursuit of rare variants like the 1920 penny with obverse 3.
Invitation to engage with the content through likes and subscriptions for future updates on similar topics.
Transcripts
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