Exact date on your rare coin could make it worth $588,000 – and the easy ‘double’ error to spot on the front

A THOROUGH search through your spare change could make you several hundred thousand dollars.

Coins from specific years can be exceedingly rare and valuable.

Alamy

Heritage Auctions

Heritage Auctions

This is often due to minting errors that went unnoticed and were still sent out in circulation.

A pretty clear and significant error on a coin is a “double strike,” someone recently found it on a 1794 One-Cent Head of 1794 coin in phenomenal condition, per Heritage Auctions .

The owner had it evaluated by the Professional Coin Grading Service (PCGS), which rates the quality of a coin in its Mint State (MS) on a scale from 1 to 70.

The 1794 coin, created before the United States had established its penny, nickel, dime, and quarter system that we all know today, was rated an MS66, meaning it was near-mint.

That’s exceptional for a coin dating back about 230 years, and it sold for over $588,000 at auction on August 14, 2024.

The standard 1794 one-cent coin features a depiction of Liberty on its obverse side courtesy of artist Robert Scot, the United States Mint’s very first chief engraver.

Liberty has flowing hair and looks off to the right.

On the reverse, “UNITED STATES OF AMERICA” is written across the top with a “ONE CENT” marking in the middle, surrounded by branches.

SEVERE STRIKE

While the discovered 1794 Once-Cent Head of 1794 features these markings on both sides, they’re heavily double-struck.

The obverse side clearly shows two Liberty heads overlain atop one another and a dye crack in the lower right corner, per the listing on the Heritage Auctions site.

A faint doubling of the 1794 date can also be seen.

On the reverse side, the dye crack is near the top, with the “UNITED STATES OF AMERICA” and “ONE CENT” wording severely off-center, along with the branches.

The significant errors, condition, and date made it significantly valuable to collectors and earned it the $588,000 price point.

Fred Weinberg, a coin error expert, was blown away by the find.

Rare coins

You may be holding something valuable in your wallet. Check out these articles on rare coins to see if you may have a treasure hidden deep in your pockets.

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• 1971 Eisenhower silver coin sells for $264,000
• Lincoln double die obverse penny sells for $2,000
• Half cent sells for $3,383
• Rare nickel sells for $1,956 on eBay
• 1889 CC Morgan Silver dollar coin sells for $1,850
• Lincoln 1992 penny can be worth up to $25,000
• Standing Liberty quarter sells for $565
• Lincoln coin minted in 2020 sells for $525

EXPERT BAFFLED

“The right side strike was first, and off center, and then it was struck again, also off center,” Weinberg noted of the 1794 coin’s obverse side while speaking with Heritage Auctions.

“It is a superb mint error, especially in that degree of preservation.”

The expert suspected the error was noticed immediately by someone and set aside for preservation.

“This cent has incredible condition and eye-appeal for an early error of any denomination,” Weinberg added.

“Simply breathtaking.”

KEEP LOOKING

While it’s possible, it would still be relatively improbable to find a coin so old among your spare change.

It would more likely be discovered at antique stores or passed down through families and sold off.

Other coins dating back not nearly as far are still worth considerable amounts and could very well be sitting in your change dish.

A rare 1920 penny could go for as much as $26,000 thanks to an “off-center” rim error.

The “full bands” detail on the back of a 1916 dime could also bring in about $18,000 for collectors.