10 Rare Coins That Are Worth a Fortune
Most of us, at some point, have probably seen a scattering of strange coins — perhaps at a yard sale or tucked away in a dusty drawer — and asked ourselves, “I wonder if those are worth anything?” For many of us, that’s about as close as we get to the fascinating world of coin collecting, or, to give it its technical name, numismatics. But there are plenty of proper numismatists out there. According to data from CivicScience, 38% of U.S. adults have collected coins at some point during their lives.
It’s easy to understand the appeal of collecting rare coins. For one, they offer a glimpse into the past. They can also be worth an awful lot of money. In numismatics, a decades-old manufacturing mistake can make you rich and a simple penny might pay off your mortgage. Part of the thrill of coin collecting is knowing that unexpected treasures can be hiding in plain sight, and that once-simple pocket change can become a highly collectible artifact worth thousands — or even millions — of dollars.
Here are 10 facts from the world of numismatics, from the oldest coin ever discovered to the most expensive ever sold.
The Lydian Lion Is the World’s Oldest Coin
The Lydian Lion is widely considered the world’s oldest coin. Minted around 600 BCE in the kingdom of Lydia (modern-day Turkey), these coins were made of electrum, a mixture of gold and silver. The creation of the Lydian Lion marked a truly significant milestone in economic history by establishing the concept of money as we know it today. A Lydian Lion coin is worth an estimated $2.5 million today due to its historical significance and rarity.
The Chain Cent Was the First Circulating Coin From the U.S. Mint
The chain cent was the first mass-produced, regular-issue coin to be struck at the fledgling U.S. Mint. Named for the interlocking chain design on its reverse, the chain cent was minted from February 27 to March 12, 1793, with only around 36,103 produced in total. Today, likely no more than 1,500 to 2,000 chain cents exist, with maybe only 10 or so in mint condition.
The First Official Silver Dollar Was Struck in 1794
The first silver dollar is known as the “Flowing Hair” dollar, as one side features a bust of Lady Liberty with noticeably flowing hair. It was produced by the U.S. Mint in 1794, and only 1,758 coins were struck in its first year. Far fewer exist today, making Flowing Hair dollars produced in 1794 rare and highly prized, even in imperfect condition. One of these rare coins went up for auction in 2013 and sold for $10 million — a world record at the time.
A Rare Gold Coin Proved a “Fake” Roman Emperor Was Real
In 1713, a collection of eight gold coins, of five different design types, was found in Transylvania, Romania. One of the coins featured an image of an unknown Roman emperor with the name Sponsian. For hundreds of years, the coins, and therefore the emperor, were believed to be fake. But in 2022, scientists at University College London proved that the coin had been in circulation 2,000 years ago. In doing so, they proved that Sponsian — whose name and portrait appear on the incredibly rare coin — was indeed a Roman emperor back in the third century.
Pattern Coins Can Fetch a Pretty Penny
A pattern coin is a prototype or proof of concept made to evaluate the design, composition, and technical aspects of a coin before it goes into mass production. They are normally produced in extremely limited quantities, potentially making them highly collectible. A prime example is the 1856 Flying Eagle cent. Only around 1,500 to 2,000 examples were ever minted, primarily to distribute to members of Congress and influential figures to gain support for the new coin design. As such, the rare 1856 Flying Eagle cent is highly collectible. In 2024, one was sold at auction for $312,000.
A Wartime Mistake Created a Rare Copper Penny
Due to copper shortages during World War II, most 1943 pennies were made from zinc-coated steel. But the U.S. Mint accidentally made a small batch of copper pennies, of which only around 40 are believed to exist today. That, of course, makes these 1943 copper pennies highly valuable, with one selling for $82,500 in 1996. Collector beware, however: There are plenty of fake 1943 copper pennies out there. If you think you’ve found one, first test it with a magnet. Genuine 1943 copper pennies are not magnetic, so if a coin sticks, it is made of steel and thus is not authentic.
Errors Can Create Rare and Highly Valuable Coins
A coin die is a specialized metal stamp used to create coins by pressing an image into a blank metal disc. A double die coin is produced when the coin die is not manufactured correctly. This error causes parts of the finished coin’s design to be slightly misaligned, with elements doubled in overlapping positions. In the world of numismatics, such errors can increase a coin’s value, and in many cases the more obvious and distinct the error, the more the coin will be worth. In 2023, a rare 1958 double die penny sold for $1.136 million.
Unpopular Initials Turned a Lincoln Cent Into a Collector’s Item
In 1909, the U.S. Mint in San Francisco began production of the Lincoln cent, the first everyday U.S. coin to feature an actual person. Controversy soon arose, however, as people began to object to the coin designer’s inclusion of his own initials, VDB (for Victor David Brenner), on the coin, which was regarded as too prominent and too self-promotional. Three days later, production was stopped and the initials removed. Only 484,000 examples of the 1909 VDB-initialed Lincoln cent were struck, making it quite rare — especially today, more than a century later.
A Missing “S” Added Half a Million to the Value of a 1975 Dime
In 1975, the San Francisco Mint produced a proof set of more than 2.8 million coins. Three years later, eagle-eyed collectors realized that, due to a manufacturing error, two of these dimes were missing the “S” mark for San Francisco, instantly making them two of the rarest and most sought-after coins in the world. Both coins have since been sold at auction for around half a million dollars.
The World’s Most Expensive Coin Sold for $18.9 Million
In the midst of the Great Depression, the U.S. Mint in Philadelphia produced a $20 gold coin known as the 1933 Saint-Gaudens Double Eagle. But nearly all of the 445,500 Double Eagles struck that year were melted down before they could circulate, thanks to Franklin D. Roosevelt’s Executive Order 6102, which prohibited the private ownership of gold coins. Only 13 of these coins exist today, and they are extremely valuable. In 2021, one 1933 Double Eagle sold at auction for a whopping $18.9 million, making it the world’s most expensive coin.
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