A LINCOLN penny minted in 1992 sold for over $ 25,000 – and you might be able to make a decent amount of money if you come across one.
The rare penny, featuring 16th President Abraham Lincoln, was designed by sculptor Victor David Brenner.
While pennies have been around since the late 1700s, the first Lincoln version was minted in 1909, which just happens to be the year of the coin.
More interestingly, the coin has been said to be one of the most famous Lincoln cents around.
Minted in San Francisco, the coin is distinguished by âVDBâ on the reverse of the coin – the initials of the designer’s name.
According to Ron Gruth, president of the Professional Coin Grading Service, only 484,000 cents were issued with the initials VDB.
The front of the coin features the year 1909 with an “S” underneath on the right side of Lincoln.
âThis is the very rare 1909 cent S with the initials VDB on the back. This is the key part of the Lincoln Cent set, âthe listing description states.
“The coin is classified NGC AU58 BN – approximately uncirculated (brown).”
When a coin in circulation is noted as “nearly uncirculated” it has only the slightest sign of tearing.
In total, the penny racked up 53 bids before selling for $ 1,500.
This would mean that the cent is now worth almost 15,000,000% more than its original value.
But keep in mind that the coin’s value may depend on the quality and condition.
According to USA Coin Book, the Lincoln cent is worth $ 917 in average condition and up to $ 2,222 if in âUncirculated (MS-63). “
Additionally, another 1909 S VDB Lincoln cent sold for $ 1,153 in August.
Currently there are several 1909 S VDB Lincoln pennies listed on eBay with prices in excess of one thousand dollars.
Is your small change worth a fortune?
If you think you have a rare coin, you could be of serious value.
The most valuable coins are usually those with a low mintage or error, as they are considered the most valuable by collectors.
To check if your coins are worth anything on eBay, search for the full name, select the “sold” listing, then switch the search to “highest value”.
This will give you an idea of ââhow much money the coin is intended for.
You can choose to sell the coin on eBay or through a specialty site such as Coinappraiser or USA Coin Book.
If you choose eBay, remember to set a minimum price that is greater than or at least equal to the face value of the coin – or you could lose money.
You should also know that even if your part âsellsâ on eBay for a high price, there is no guarantee that the buyer will pay.
Under eBay’s terms and conditions, bidders enter into a âlegally binding contract to purchase an itemâ.
However, there is no way to apply this rule.
The most eBay can do is add a note to their account for the unpaid item or remove their ability to bid and buy.
Some other rare coins that have been sold online include a three-legged buffalo coin for $ 1,400 online as well as a sold Flying Eagle cent, which sold for $ 11,128.
We’ve also rounded up the most valuable error coins.
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