5 Most Valuable ‘Error Coins’ Ever Minted — Check For These Misprints

As with just about any asset, a coin’s value is determined by its market demand. This means that coins in short supply often see higher demand — and higher values. With coins, supplies are limited either because they are very old, were minted in very limited supplies, or contain errors or other distinctive features that set them apart. Errors are common feature in valuable coins and can push values up to six figures or higher.

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You never know when you might come across a valuable error coin, so it helps to know what to look for. Error coins can be divided into the following general categories, according to the Gainesville Coins website:

• Planchet errors: A “planchet” refers to the blank metal used to make coins. Planchet errors typically include clipped planchets that are the wrong shape or thickness, or planchets that were left blank.
• Die errors: Die errors mean something went wrong in the minting process and usually involve mistakes involving the coin’s lettering, numbers or images.
• Strike Errors: “Striking” is a part of the minting process when the design from the die is impressed onto the coin. Strike errors include off-center or misaligned strikes and designs struck on the wrong size planchet.

As Gainesville Coins noted, you need a “keen eye and plenty of patience” to successfully spot an error coin. Knowing what to look for in an unusual-looking coin is a helpful, but you are better off researching famous errors and how to spot them.

Here’s a look at five of the most valuable error coins . Top values are usually paid to coins that have been graded in mint or near-mint condition .

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1937 Three-Legged Buffalo Nickel: $100,000

This coin is a fascinating example of a flawed minting process, which resulted in a buffalo with three visible legs. The highest price paid for this coin was just shy of $100,000.

1942/1 Overdate Mercury Dime: $120,000

With this coin, a 1941 die was mistakenly used to produce a 1942 Mercury dime, resulting in an overdate error. A highly graded specimen fetched $120,000 in 2018.

1955 DDO Lincoln Penny: $125,000-plus

The 1955 DDO (double die) Lincoln Penny owes its rarity to a misalignment during the minting process that created a “double image” effect on the coin’s obverse. A pristine DDO Lincoln Cent can command a value exceeding $125,000.

1975 No S Proof Roosevelt Dime: $450,000

A “proof” coin is one that is not intended for circulation as currency, but rather to serve as a model for the future coins. You don’t usually see errors with proof coins, but there are exceptions. One involved 1975 dime proof sets, which that lacked an “S” mintmark (from the San Francisco Mint). So far, only two such specimens have been identified, according to Gainesville Coins.

1943 Copper Lincoln Penny: $1 million-plus

A copper shortage during World War II prompted the U.S. Mint to switch the one-cent penny to a steel composition that was coated in zinc, according to Gainesville Coins. However, a small number of pennies were mistakenly struck on the normal bronze planchet that year. Those pennies, which might number as few as 15, are among the most valuable error coins in the world.

This article originally appeared on GOBankingRates.com : 5 Most Valuable ‘Error Coins’ Ever Minted — Check For These Misprints