Why is 1933 penny rare

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The British Penny is, perhaps, one of the most famous coin rarities in the English-speaking world today — allegedly only seven coins were minted — specifically for the king to lay under the foundation stones of new buildings. So why do so many people claim to have a penny on their possession or to have seen one? Getting back to the rare British penny — there was no requirement for the Royal Mint to produce any pennies in because there were already more than enough in circulation. In fact, the Royal Mint had been steadily reducing its output since see table below. That said, requests were received for sets of coins dated to be placed under the foundation stones of buildings erected in that year, and the Mint obliged by striking a small number of pennies to make up these sets. The myth behind the reality was that people thought they could turn up in their change — a highly unlikely occurrence since these pennies were all buried beneath foundation stones.

Why is 1933 penny rare

Editor's note: this is the second part of a story by Jeff Starck about Depression-era coins that shouldn't exist but that were issued under strange circumstances. The article originally appears in the December monthly issue of Coin World. Indeed, people have spent a lifetime sifting through their coins in a vain attempt to find one. With banks awash in a sea of coins in the Great Depression, no pennies were produced in for general circulation. A custom of the time called for complete sets of coins of the current year to be buried under the foundation stones of new buildings. Consequently, three pennies were struck, in Proof, for buildings erected in that year, along with a small number of circulation examples to be kept by the British Museum and the Royal Mint Museum. The number of dated pennies is thought to be no more than six or seven. With no precise record of the number made, and with the coin having been struck to ordinary circulation standards, it seemed possible that one might turn up in everyday use, prompting a generation to search their change for the rare but ultimately elusive penny of As with the Australian penny and Canadian Dot cent, fakes of the penny abound, with forgers often altering dates on common coins. Other would-be pennies are actually pennies from elsewhere in the British realm, like Australia, British West Africa, Jersey, or Ireland. In August , it was discovered that thieves had stolen the set of coins deposited beneath the foundation stone of the Church of St. Cross, Middleton, near Leeds. As a result, a second set, buried beneath the foundation stone of St. As far as is known, the third set is still in place under the foundation stone of the University of London Building in Bloomsbury, London.

Other would-be pennies are actually pennies from elsewhere in the British realm, like Australia, British West Africa, Jersey, or Ireland. Just a thankyou for the site, very informative.

The coin sold is known as a "Pattern" version, as it was presented as a prototype, but never went in to production. It is the first time that any of the Pattern coins have come up for auction. Commenting on the record price, a spokesperson for the auction house, AH Baldwin and Sons said: "No other bronze coin has ever come close. The coin was bought by a private collector. It is not known whether it will be kept in the UK, or taken abroad. A further seven pennies, known as currency coins, were produced in for ceremonial purposes, but none has recently come up for sale. It is thought the currency coins could be worth twice as much as the Pattern versions.

The British Penny is, perhaps, one of the most famous coin rarities in the English-speaking world today — allegedly only seven coins were minted — specifically for the king to lay under the foundation stones of new buildings. So why do so many people claim to have a penny on their possession or to have seen one? Getting back to the rare British penny — there was no requirement for the Royal Mint to produce any pennies in because there were already more than enough in circulation. In fact, the Royal Mint had been steadily reducing its output since see table below. That said, requests were received for sets of coins dated to be placed under the foundation stones of buildings erected in that year, and the Mint obliged by striking a small number of pennies to make up these sets.

Why is 1933 penny rare

Coins Guide. This post may contain affiliate links. If you buy thru these links, we may earn a commission at no additional cost to you. The Lincoln cent from the Philadelphia Mint has no mintmark tiny letter under the date on the obverse — heads side. Examples that have never been used as money and are uncirculated are worth significantly more. The most ever paid for a D Lincoln cent? To determine the true value of your wheat penny, you first need to know what condition or grade your coin is in. Chalk it up to the Great Depression , a prolonged period of economic malaise that began in — the same year as the terrible stock market crash on Wall Street. Because fewer people were spending money, the United States Mint decreased its annual production of coins. In , the U.

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A further seven pennies, known as currency coins, were produced in for ceremonial purposes, but none has recently come up for sale. Demand for these coins has established a distinction with the grade Extremely Fine and better. New Arrivals Coming Soon. Low production and lack of saving of these coins has created a premium variety. Your Password. Detailed lettering along the rims on both sides indicates a quality collectible condition. Eye appealing, lightly worn examples are a standout coin. Date by Date In Depth Lincoln Penny Value Early Era to By creating an account, you are agreeing to the Terms of Service and the Privacy Policy. It may just be me being stupidly hopefull that it is a penny and the lump I removed it from was actually part of the foundations in which it was laid. A small change to style by enlarging the "D" mintmark adds to interest and allure of these coins. In addition to the fakes that are occasionally fraudulently offered for sale, there are number of private mints offering facsimile copies. Compare your coin to grading images in the next section to help visualize its condition. A key variety to penny value is the "D" mint issue of Denver. About Contact.

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A large connection is evident with forehead, ear, and hair. Lincoln Wheat cents span the years through Remember Me Forgot Password? I have updated the article accordingly. Email Address. Within the central area, all contours of Lincoln's face are worn to one smooth surface. For one, most years saw 3 different types of the Lincoln penny produced. Was it a fake, the 7th stolen coin or was it example 8? Though, to the naked eye, these coins will appear to be in perfect condition, the close examination of a grader will uncover even the smallest flaws. These tiny flaws are enough to bring the grade down from Uncirculated to Extremely Fine. Listed by date and mint mark variety the chart further narrows value by the condition of the coin. A wider value spread is noted among lightly circulated or better coins. Remaining features within the hair are well defined confirming an extremely fine grade. By creating an account, you are agreeing to the Terms of Service and the Privacy Policy. Your Password.