More Than a Penny: Rare 1 Cent Piece Sells for Massive Price

by Kati Kuuseoks
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You probably spend a good portion of your week planted on the couch. Actually, estimates show that the average American watches over 4 hours of TV each night. If you follow that math, it comes out to about 28 hours per week or 2 whole months of couch-lock per year. But how often do you inspect your throne? Well, it might be time to go digging through those couch cushions. Heck, maybe even invest in a metal detector. Why? Apparently, a certain penny print can rake in a lot more than you’d think. In recent years, a rare 1 cent piece went for a whopping $25k. More on that below.

Lincoln 1 Cent Piece Considered Rare for One Particular Feature

The coin in question looks like any old penny from a distance. It features Abraham Lincoln, the 16th President of the United States, with his distinguishing facial hair. It comes from Frank Gasparro’s design and contains the usual quotations: “In God We Trust,” “Liberty,” and “E Pluribus Unum.” It also bears the words “United States of America” and “One Cent.”

Upon closer inspection, however, you’ll note something peculiar about the ’92 minted coin. Apparently, there are two classes of this coin. One, where the lettering of all the words is spaced out. Another, where the “A” and “M” are printed very closely together, almost touching. This is the feature that makes it so rare and explains how it sold for $25,000 back in 2017.

“It is approximated that only 10 or so of the Close AM coins exist,” said officials from Coinappraiser.

Coins with other rare features but in poorer shape sold for $9, $205.50, and $1500 recently. However, Coinappraiser officials say “Not many have been certified by the leading coin grading services.” So, Heritage Auctions (the host of the $25k piece) put out this video to help you with identifying your own change:

‘Pawn Stars’ Compilation: Best Coins of All Time

While the “American Pickers” crew generally strays away from coins, that’s not necessarily true for the “Pawn Stars” gang. In fact, they released an entire compilation video that details 20 of the rarest and most expensive coins their pawn shop has seen over the past handful of years.

The compilation is over an hour long and features all types of coins, not just the Lincoln 1 cent pieces featured above. The video shows Rick Harrison as he tries to not only authenticate each item but get the best bang for his buck. His partner also delves into the details between a regular coin and a “proof coin.” The latter involves coins that went through a special minting process made for collectors.

Check it out:

How’s that for a penny for your thoughts?

Outsider.com