Citizens who are digging through old coin jars and piggy banks have every right to since an ordinary $1 coin could be worth $14,000. Due to minting errors, exceptional condition, as well as the rarity of certain coins, some $1 coins have shot up in value as they seem to be catching the attention of coin collectors and citizens alike. Certain coins such as the Eisenhower Dollar and the Susan B. Anthony Dollar have become the talk of the town and these coins have made citizens feel as if digging for spare change could lead to the possibility of finding a rare gem.
Reasons for certain $1 coins being worth so much
The only reason that can be provided as to why some $1 coins are far more valuable than the rest is because not all coins are created equally. Although the majority of $1 coins are only worth their face value, there exists rare versions of these coins that are slightly different to normal coins. The rare coins can be considered to be those with minting errors or perhaps some sort of historical significance. These rare coins such as Eisenhower Dollars (1971–1978) and Susan B. Anthony Dollars (1979–1981, 1999) may be worth thousands of dollars on the collectors’ market.
These collectible coins differ in terms of several factors:
- Scarcity: Very few of these types of coins with special features were minted.
- Condition: Coins were in uncirculated or mint condition increasing their worth.
- Minting errors: Flaws like missing mint marks or off-center strikes are valued most by collectors.
- Historical value: Certain coins signify moments in the U.S. history which adds sentimental value to the money
The 1974-D Eisenhower Dollar sold for $14,100 is a priced possession due to its flawless condition and rarity. The reason why the Susan B. Anthony Dollar is so valuable is because of a rather rare minting error causing it to be almost the same in worth as the 1974-D Eisenhower Dollar.
Steps to identify these rare coins
While a seasoned numismatist may assist you in evaluating these $1 coins, you can assess these coins yourself following these steps:
Check the coin type and year
The first step to determining whether you have an Eisenhower or Susan B. Anthony Dollar in your possession is to note the year of the coin:
- Eisenhower Dollars were minted from 1971 to 1978 and feature President Dwight D. Eisenhower on the front.
- Susan B. Anthony Dollars, smaller and more modern in design, were minted in 1979–1981 and 1999.
Look out for the mint mark
Mint marks can show how the coin was made and are generally located near the date.
- No Mint Mark: Indicates Philadelphia. Coins without this mark, especially Eisenhower Dollars, are much rarer and thus highly valuable.
- D: Denver.
Rare Eisenhower coins without mint marks have sold for up to $13,500–$14,000. This slight detail can make such a huge difference.
Examine the coin’s appearance and condition
When it comes to all coins, condition is vital. Coins are graded on a scale up to MS70, with MS65+ being of mint state and highly collectible. Look out for:
- No scratches or wear
- Clean, crisp edges and full details
Although a rusted or circulated coin might still have value, the shiny, pristine one is where the real money is.
Search for any minting errors
Collectors are fond of errors so look out for:
- Double dies: where numbers, letters and other features appear doubled.
- Missing details: absent mint marks or incomplete images.
Although these appear to be flaws on the coin, they can considerably enhance your coin’s value.
How to react if you have a valuable coin?
If you assume that your $1 coin is rare and valuable, you need to handle it with care. Avoid using any chemicals on your precious coin. If you are convinced you have a rare find, get it professionally graded. You might just have the first ever minted coin in America at home.
