Coin collecting, or numismatics, is a hobby that has intrigued people for centuries. Beyond its historical significance, this hobby can be extremely lucrative, especially when rare coins reach astronomical values. Recently, a Bicentennial Quarter was valued at nearly $69 million, a jaw-dropping amount that immediately captured the attention of collectors and the public alike. The news of this quarter’s value has reignited interest in other rare coins that might also fetch sky-high prices. In this article, we’ll explore the fascinating story of this rare quarter and dive into nine more coins that are worth over $999,999.
The Story Behind the $69 Million Bicentennial Quarter
The Bicentennial Quarter, minted in 1975-1976 to commemorate the 200th anniversary of the signing of the Declaration of Independence, features a unique design. The reverse side of the coin shows a colonial drummer and a torch surrounded by 13 stars, representing the original American colonies. The obverse side still bears the familiar profile of George Washington.
What makes this particular Bicentennial Quarter so special and valued at nearly $69 million? The answer lies in extreme rarity and minting errors. A select few Bicentennial Quarters were struck on a silver-clad planchet, rather than the more common copper-nickel alloy. In addition, this specific coin was in pristine, uncirculated condition, making it an exceedingly rare specimen. To top it off, a combination of unique die errors, such as doubling and minor surface irregularities, pushed the value of this quarter into stratospheric territory.
While this is a one-of-a-kind story, it has sparked interest in other valuable coins. Let’s take a look at nine more coins that are worth over $999,999 and the reasons behind their astonishing values.
Read More: Rare Bicentennial Quarter Nearing $5 Million, Alongside 6 Coins Worth $30 Million
1. 1933 Double Eagle ($18.9 Million)
The 1933 Double Eagle is considered one of the most famous and valuable coins in American history. It was originally intended for release during the Great Depression, but the U.S. government halted the distribution of gold coins as part of an effort to stabilize the economy. Most of the 445,500 Double Eagles minted in 1933 were melted down into gold bars.
However, a small number of these coins managed to escape destruction. One such coin sold for $18.9 million in a 2021 auction, making it the most expensive coin ever sold. The coin’s rarity and its ties to an important moment in U.S. financial history make it highly desirable to collectors.
2. 1794 Flowing Hair Silver Dollar ($10 Million)
The 1794 Flowing Hair Silver Dollar is believed to be the first silver dollar ever minted by the United States. The coin features Lady Liberty on the obverse with flowing hair, a design that was replaced just a few years later. The coin is also notable for its low mintage, with fewer than 1,800 ever struck.
One of these coins, in exceptionally good condition, sold for $10 million at auction in 2013. Its value stems from its historical importance, as it marks the beginning of official U.S. currency production.
3. 1787 Brasher Doubloon ($9.36 Million)
The Brasher Doubloon is one of the most famous coins in early American history. Minted by Ephraim Brasher, a New York City goldsmith, the coin was produced in 1787, before the establishment of a formal U.S. mint. Made of 22-karat gold, it is considered one of the most desirable coins in the world.
In 2021, a Brasher Doubloon sold for $9.36 million, setting a record for the highest amount ever paid for an American coin at the time. The coin’s unique historical significance, as well as its gold composition, makes it incredibly valuable.
4. 1804 Silver Dollar (Class I) ($7.68 Million)
The 1804 Silver Dollar is one of the most sought-after coins by collectors, even though none were actually minted in 1804. These coins were produced decades later as gifts for foreign dignitaries during the presidency of Andrew Jackson.
There are only 15 known examples of the 1804 Silver Dollar, divided into three classes based on when and how they were struck. A Class I 1804 Silver Dollar sold for $7.68 million in 2016, largely due to its rarity and historical intrigue.
5. 1913 Liberty Head Nickel ($4.56 Million)
The 1913 Liberty Head Nickel is famous not only for its rarity but also for the mystery surrounding its production. The U.S. Mint switched to the Buffalo nickel design in 1913, but five Liberty Head nickels were somehow minted that year despite the design change.
These five coins are among the most famous in American numismatic history. One of them sold for $4.56 million in 2018. The coin’s value is driven by its extreme rarity, with only five known to exist, as well as its legendary status in the world of coin collecting.
6. 1822 Half Eagle ($8.4 Million)
The 1822 Half Eagle is one of the rarest U.S. gold coins, with only three known examples in existence today. This $5 gold coin was minted during a period when gold coins were not commonly used in everyday transactions, making it particularly rare.
In 2021, one of these coins sold for $8.4 million at auction, making it one of the most expensive coins ever sold. Its extreme rarity and historical significance drive its incredible value.
7. 1861 Paquet Reverse Double Eagle ($7.2 Million)
The 1861 Paquet Reverse Double Eagle is a rare variant of the $20 gold coin, featuring a unique reverse design created by engraver Anthony C. Paquet. Only two examples of this coin are known to exist, making it one of the rarest coins in U.S. history.
One of these coins was sold for $7.2 million in 2015, a testament to its rarity and the skill of its engraver. Its value is also tied to its historical connection to the Civil War, as it was minted during one of the most tumultuous periods in American history.
8. 1937-D Three-Legged Buffalo Nickel ($1 Million+)
One of the most famous error coins, the 1937-D Three-Legged Buffalo Nickel, was created due to a die polishing mistake at the Denver Mint. Instead of the buffalo depicted with all four legs, this version appears to be missing a front leg, giving it the name “Three-Legged Buffalo.”
Because of this striking error, the 1937-D Three-Legged Buffalo Nickel is incredibly valuable. In near-mint condition, it can sell for over $1 million, though most examples are valued slightly less. The notoriety of the error and its scarcity make it a must-have for serious collectors.
9. 2007 C$1 Million Canadian Gold Maple Leaf ($4 Million)
While not a U.S. coin, the 2007 C$1 Million Canadian Gold Maple Leaf deserves a spot on this list due to its sheer size and value. This coin is made from 99.999% pure gold and weighs 100 kilograms (220 pounds). Only six of these coins were produced, making them exceedingly rare.
One of these coins was sold for $4 million in 2010. Although it has a face value of C$1 million, its gold content and rarity make it worth significantly more.
10. 1943 Copper Penny ($1.7 Million)
The 1943 Copper Penny is one of the most famous error coins in U.S. history. During World War II, the U.S. Mint switched from copper to zinc-coated steel for penny production to conserve copper for the war effort. However, a few copper planchets accidentally made their way into the minting process, resulting in a small number of 1943 copper pennies.
One of these pennies sold for $1.7 million in 2019. The coin’s rarity and error make it one of the most valuable pennies ever discovered.
Why Coins Fetch Such High Prices
As we’ve seen, rare coins can command prices that far exceed their face value, with some reaching millions of dollars. But what drives these astronomical prices?
- Rarity: The fewer examples of a coin that exist, the more valuable it is. Coins with low mintages, minting errors, or historical significance tend to be highly sought after by collectors.
- Condition: A coin’s condition plays a huge role in its value. Coins that are in mint condition, with no signs of wear or damage, can fetch much higher prices than those that are worn or damaged. Professional coin grading services provide an official grade, which helps collectors determine a coin’s value.
- Historical Significance: Coins tied to important historical events or figures often carry additional value. For example, coins minted during wartime or commemorating significant milestones are usually more desirable.
- Metal Content: The intrinsic value of the materials used to make a coin, especially for gold and silver coins, also affects its value. For example, gold coins will always carry a certain value based on the market price of gold.
Read More: “Hidden $200 Quarters in Your Change: What to Look For”Look
Conclusion
Rare coins are like pieces of history that have appreciated in value. The Bicentennial quarter, especially those with unusual minting faults or in pristine condition, and other historical coins are now collectors worth millions. Collectors worldwide have bid record prices for these coins, from the 1794 Flowing Hair Silver Dollar to the 1933 Double Eagle.
It’s worth exploring whether you’re an experienced coin collector or found an antique coin in spare change. A fortune might be yours with the proper coin. Before selling your coins, have a numismatist appraise them to determine their value.
FAQs
1. How can I identify a rare coin?
Start by checking the coin’s date, mint mark, and condition. Pristine coins with unusual minting mistakes or historical importance are frequently the most precious. A coin value guide or professional assessor can assist you determine its value.
2. Sell unusual coins like this where?
Professional coin dealers, high-end auction houses, and online rare coin auction platforms sell rare coins. Before selling, have the coin appraised and authenticated.
3. How do I safeguard rare coins?
Keep rare coins in cases or holders to prevent handling or environmental damage. Maintain a cool, dry environment and prevent cleaning to preserve their worth.
4. How frequently do rare coins like this auction?
Rare coins like those listed often occur at Heritage Auctions or Stack’s Bowers, although it can take years for specific ultra-rare coins to arrive.
5. Are modern coins worth over $999,999?
Modern coins with special releases, minting faults, or limited production can be worth a lot. Modern coins with significant values include the 2007 Canadian Gold Maple Leaf and mistake pennies.