Ordinary Penny Sells for Extraordinary $15,600: What Made It So Valuable?
Most pennies are worth just one cent, but a recent sale for over $15,000 highlights what can make a penny exceptionally valuable.
TikTok coin collector (@TreasureTown) explains why a seemingly common 1964 penny fetched a fortune on Heritage Auctions.
The coin's uniqueness lies in being a Special Mint Set (SMS) type, distinct from regular circulation pennies.
SMS coins, issued by the US Mint from 1965 to 1967, have a superior strike quality due to higher-tonnage presses.
Their rarity stems from their history as prototypes, with only an estimated 20 to 50 produced as tests.
While some speculate they were coined in Philadelphia, others believe they originated in the San Francisco Mint.
This particular SMS penny sold for $15,600 in January 2019 and received a high grade of SP67 Red.
To spot valuable coins in your change, watch for errors, unique dates, and excellent condition
Error types include doubling on dates and words, missing mintmarks, and more.