Coins have been collected since the beginning of time. Every coin has a face value. However, some coins values can soar way above the face value due to different factors. Some coins are obviously more rare than others simply because they are old. There are a wide range of other factors that can make coins extremely valuable. Interestingly enough, what makes a coin valuable isn’t always what you’d think. Simply going by the age of a coin does not make it valuable. Coins from thousands of years ago can be had from online sources for $10-$20.
What determines a coin’s value?
Condition is ultimately the most widely known reason for coins to have very high values. Other aspects that directly contribute to a coins value are: year, mint mark, metal content, grade, eye appeal, strike type (proof or business strike), art and design , special coloration to name a few.
Below is a list of some of the most valuable coins sold at auction. The list of coins is a wide range of different styles and values. I think you would be surprised in reading the backstory and history of some of the values these coins have gone for based on different factors. Continue reading below to find out what coins these are and how much they sold for!
1927 D St. Gaudens Double Eagle – $1,997,500
The 1927-D Saint Gaudens Double Eagle which is NGC graded MS-66. It is the rarest of the double eagles and there is currently estimated to be only 12 of the 1927 coins that exist with a Denver mint marking. Many of these coins were traded and sold at coin shows in the past are not genuine examples. Before authentication and grading services such as PCGS and NGC were offered a lot of these coins were faked and forged by collectors seeking more money for their coins. These forgeries were a huge problem for coin collectors back in the day. Since the coin grading and authentication services that are offered now are run by professionals who can spot fakes, this issue is much less of a problem.
1870 S Liberty Seated Dollar – $1,959,995
The Seated Dollar is a rare and valuable coin. It was minted from 1840-1873. Due to some years having very low mintage numbers in the mid to late 1800’s these are very sought after. The 1870-S Seated Liberty Silver Dollar is the rarest of this type. Roughly 15 of these coins are estimated to exist and can be identified by a smaller than normal San Francisco “S” mintmark located under the eagle on the reverse of the coin. This is one of the most famous and rarest of all US coins and one of the few cases where the US Mint had no official record of ever producing these coins; yet they do exist. In almost any condition these 1870 “S” coins are worth hundreds of thousands of dollars. Those in near uncirculated condition or in higher grades are worth well over $1 million each!
Why are they worth so much?
There were a total of 45 different date and mint mark combinations for the series of Liberty Seated Dollars. As previously mentioned the 1870-S Seated Liberty Dollar had no reported production from the mint. It is presumed that 15 coins were struck to mark the occasion of the ground breaking for the second building of the San Francisco Mint which opened in 1874. The most recent auction for this coin sold for $1,959,995 in 2010.
1907 St. Gaudens $20 – $2,990,000
This coin is a work of art. It was created by the famed sculptor Augustus Saint-Gaudens at the request of current president at the time Theodore Roosevelt. He wanted to make our nation’s coins more artistic and visually appealing and requested this coin be made. Saint-Gauden became ill at the time of the coin’s creation so his assistant Henry Hering created the molds for the design. Saint-Gauden passed away in 1907 not long after his most famous coin design began production.
The original 1907 design had many revisions prior to the coins being released to be able to get as much detail as possible in the coin strike. Hering made sure to include as much high relief detail as possible to make the coin stand out and be unlike any other coin. The original samples produced of the extremely high relief were not released to the public. The exact number of coins struck in 1907 for this minting process is unknown but there is an estimated round number of 15 coins in existence.
All of the Extremely High Reliefs from 1907 were made with great care and were handled lightly as to not lower their quality or detail. They were never available to the general public or even to high end numismatists or collectors. Nearly all of the coins known can be traced back directly to President Theodore Roosevelt or Chief Engraver Charles Barber.
Draped Bust Dollar 1804 Original – $4,140,000
There is no way to describe how rare and sought after an 1804 dollar in American coin collecting is. It’s one of the most highly collected coins of all time. The highest graded and rarest example was owned by the Sultan of Muscat (Sultan of Muscat and Oman from 1806-1956). He was given this set of American coins as a gift by an American diplomat by the name of Edmund Roberts. Edmund Roberts was appointed by Andrew Jackson in 1932 as our envoy to the far east regions of Asia. The President had arranged for a complete set of the coins of the United States be sent to the King of Siam and another to the Sultan of Muscat. This coin passed hands many times over the years through auctions and private sales until ending up in Walter H. Childs’coin collection. It sat in storage for nearly 50 years before being offered again and sold at auction for $4,140,000.
1913 Liberty Head V Nickel PR-66 Finest Known – $4,560,000
The most expensive and most interesting coin on this list is the 1913 V Nickel. The 1913 Liberty Head V Nickel is a mystery in itself. The Liberty Head V Nickel design was minted from 1883-1913. It was an American five cent piece that was produced in very large quantities. However, the 1913 V Nickel was minted without authorization by the United States Mint. This reason alone makes it one of the most sought after coins in American coin collecting.
Who made these rare nickels?
It is not 100% known, but according to rumor a mint worker named Samuel W. Brown is suspected of producing the coins and altering the coin stamping die to add the fake date of 1913 to this special nickel. This coin was struck at the Philadelphia mint in late 1912, the final year of it’s minting but with the altered year of 1913. This would be the first year of issue of the Buffalo Nickel.
No collector or government official was aware of these coin’s existence until Brown offered these coins for sale at the American Numismatic Association Convention in Chicago in 1920 which was beyond the 7 years for statute of limitations. Brown had previously placed an advertisement in the December 1919 issue of “The Numismatist” soliciting information on these rare coins, offering to pay US $500 for each. The 5 coins remained together as a set until 1942. The coins were sold and traded hands over the years until being purchased by E. H. R. Green who kept them until his death in 1936. These were sold at his estate sales and auction off. The five coins were purchased by two dealers, Eric P. Newman and B. G. Johnson who were the first two collectors to break up the set of 5 nickels.
Where did the 5 nickels end up?
Eliasberg specimen – This V nickel was purchased from Newman and Johnson that sold the coin to a collector named Louis Eliasberg. It remained in his collection until after his death. In 1996 it was sold in an auction for $1,485,000. This was the highest price paid for a single coin ever in the history of numismatics. When it auctioned again in 2001, the price was $1,840,000. In 2005 the coin sold for $4,150,000. In 2007 it sold for $5,000,000 topping the list as the highest price paid for a coin ever in the history of coins.
Olsen specimen – This is the most famous of the 5 1913 V nickels that were created. It was featured on an episode of Hawaii Five-O and owned by the King of Egypt. When the set of 5 nickels was originally broken up it was sold to various collectors over the years. It sold for $100,000 originally. Once featured on TV the price doubled to a staggering $200,000. It has been sold many times since then and was last sold in a Heritage Auction for $3,737,500 in 2010.
Norweb specimen – This con traded hands a few times but was eventually sold when the King of Egpyt was replaced in power. His items were auction off and the coin ended up in the hands of a famed collector, Henry Norweb. It was donated to the Smithsonian Museum to mark the anniversay of Henry and his wife’s 60th wedding anniversary where it still remains to this day.
McDermott specimen – This coin is held by and is on display at the America Numismatic Association’s museum. The specimen is the only 1913 v nickel with circulation marks on it. McDermott, the owner, would carry the coin around without a holder and show it off. This lowered the quality of the coin until he ended up putting it in a holder to prevent further wear and degredation. This coin was sold at auction after McDermott’s death for $46,000 and was donated to the Anerican Numismatic Museum.
Walton specimen – This was the most elusive of the 5 nickels. For nearly 40 years no one had any idea where this coin and thought it was lost forever. It was orignally purchased in the mid 1940’s by Geroge Walton, a coin collector from Virginia. On his way to a coin show to display the coin, Walton died in a car crash. He agreed to show the coin at the coin show and it was assumed he had that coin in his possession during the time of the crash. $250,000 worth of coins were recovered from the scene of the accident including the seemingly lost V Nickel. When his children, the heirs to his estate put his coins up for public auction in 1963, the V Nickel was returned to them as it was deemed not genuine by officials that were running the auction.
The Walton nickel was held on to for nearly 40 years by his sister which was store in a closet. Decades later in 2003 the American Numismatic Association put out a request to find the 5th nickel. The price offered was $1,000,000 dollars with a $10,000 reward if anyone had the nickel and could bring it to show the association for verification. The heirs to George Walton’s estate brought the coin to a coin show where authenticators and professional coin graders deemed their coin to be the real deal. It was sold at auction in 2013 for $3,172,500. The nickel was joint purchased by Jeff Garrett and Larry Lee and put on display in Lee’s coin store in Panama City, FL. It was sold again for $3-$4 million dollars (estimated) and has since been placed in the American Numismatic Association’s museum.
1794 Flowing Hair Dollar – $10,016,875
This flowing hair dollar was the first “dollar” coin issued by the United States federal government. It was minted and issued as currency from 1794-1795 and it’s size and weight was based on the Spanish dollar. The Spanish dollar was popular in trade through America so the U.S. Mint decided to produce their own coins. The flowing hair design was later replaced in 1795 by the draped bust dollar. The original Flowing Hair Dollar had it’s value of “one dollar” omitted from the coin’s design because that term was not familiar yet with merchants of that time. The term dollar had not even been created and was left off for this reason. The coin’s value was meant to be based off it’s weight in silver. The 1974 flowing hair dollar had a mintage of 135 pieces. The coin that sold for this value was graded PCGS SP66. The highest grade of it’s kind.
What’s the lesson of this blog?
Always be sure to check your coins. You might not accidentally get a 1907 double eagle in your change but you might be able to find some coins that are very valuable for little to no cost to you! Be on the lookout for any coins you might deem valuable and hold on to them. Keep them in great condition and maybe some day you will be sitting at the auction block waiting for your $1,000,000 check. As always, happy hunting and have fun collecting!