Coin Collecting in the United States
Coin collecting can be a relatively profitable venture for those who are willing to play the long game. Each year, coins slowly increase in value, and as of 2023, the entire market was worth upwards of $18 billion.
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However, the one downside is that it requires a significant amount of knowledge and research capabilities, as minor details in the coin can determine whether it’s worth $10 or $10,000.
How to Tell if a Coin Is Worth a lot of Money
Certain coins are worth an exorbitant amount of money for a variety of reasons. But in comparison, even older coins could be worth less than the buttons on your shirt.
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Differentiating between the two can prove rather challenging and often requires an expert’s eyes, but some tips can help. As with all things in the modern era, the internet is always a good place to start.
Tips That Can Help Discern the Value of Coins
One indicator that the coin in your possession is worth more than its face value is that it is no longer in production. Historical significance can also increase the value of any given coin.
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If a coin is extremely difficult to come across, this can also increase its worth. However, coins that come with unusual defects due to errors on the production line tend to send collectors into bidding frenzies.
Rare Coins Produced to Celebrate Independence
Why it may prove challenging to believe there are extremely rare coins in the world that could fetch over millions at auction.
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One coin that every coin enthusiast can only dream of adding to their collection is a unique variant of the George Washington Bicentennial Quarter, originally produced to celebrate the 200th anniversary of American independence.
The Unique Aspects of the George Washington Bicentennial Quarter
The George Washington Bicentennial Quarter was minted in 1975 and 1976 and has dual dates of 1776-1976 inscribed on its surface.
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On one side, an iconic bust of Geroge Washington takes up most of the coin’s surface. It is accompanied by several inscriptions that read ” LIBERTY” and “IN GOD WE TRUST.”
The Distinctive Features of the Reverse Side of the Coin
The other side of the coin portrays an image of a colonial drummer accompanied by a victory torch. Thirteen stars sit in the top left corner, symbolizing the original thirteen colonies.
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Inscriptions can also be found on this side of the coin, which read, “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “QUARTER DOLLAR.”
What Makes the Coin so Valuable?
The coin’s design and its relation to American independence make it a relatively collectible coin. However, a small number of these coins have unique variants that drastically increase their value.
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An unknown number of quarters were minted with a rare error. During production, a die used to stamp the coins’ various designs were misaligned, resulting in a double-struck feature that collectors find alluring.
The Rarity of the Coin
It has been estimated that millions of Bicentennial celebration coins were minted, yet only a few have been observed with the rare double-struck error.
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The rarity of this production error, coupled with the historical significance of the coins, has drastically increased their price, with some being worth up to $5 million.
Market Demand for the Rare Coin
The historical context, unique design, and minting error have made this a highly sought-after collectible, and coin hunters are always on the lookout for this rare item.
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While it’s worth $5 million today, collectors’ enthusiasm will only drive the prize up in the future as market demand increases. Who knows? In ten years, it could be worth double what it is today.
Worthwhile Checking Your Coins at Home
If you have a jar of coins at home, it’s worth taking a closer look. Who knows, you might find a coin that’s been double-struck, potentially worth millions. The thought of such a valuable item lying in storage is certainly intriguing and may motivate you to start sifting through your collection.
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Even if your Bicentennial coin isn’t double-struck, it is still considered valuable. In pristine condition, the coins can fetch upwards of $6,000.
$30 million Coin
If you think $5 million is ludicrous for a coin, well, other rare Bicentennial quarters have been valued at a staggering $30 million.
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The 1932 Washington Quarter is a super rare coin. With limited minting and only a few known examples in high-grade condition, it’s considered the holy grail of collectors. So, while you’re looking through your change for a Bicentennial coin, keep an eye out for the 1932 Washington quarter. It could be hiding in plain sight.