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Subject: RARE COIN

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Tim Daley(MI)    Posted 08-16-2017 at 09:15:48 [URL] [DELETE]        [Reply] [No Email]  
  • RARE COIN
  • Any old coin collectors out there? I collect anything, wheat straw pennies, buffalo head nickels, pre-1965 nickels, silver dollars, $2 bills, silver certificates, and more. Last week I was going thru the self-serve checkout at my local Kroger grocery store and in the change I got back was a rare coin. I knew immediately when I saw it was a wheat straw but the outer edge was shiny, like bright steel, not copper. The date was 1943. The coin is one of the rare 'steelies' made in 1943 with a center made from steel, and copper outsides. This was due to the US War Board restrictions on manufacturing with rationing, recycling, and material restrictions placed on all US companies to dedicate to war ordinance production. Anyway, looking for value of it. My on-line search showed one 1943 steelie sold in 2012 for $1 million...

    Tim Daley(MI)

    Ed Gooding (VA)    Posted 08-17-2017 at 07:10:30 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • There were 684,628,670 '43 steel pennies minted, so they are not rare and even an uncirculated one is worth about a buck. It would take a certified (PCGS) specimen in MS-68 condition (MS-70 is the best condition a coin can be certified) to bring in big bucks.

    It's the far more rare bronze version (estimated 10-15 in circulation) that is worth the big bucks.

    Tim Daley(MI)    Posted 08-17-2017 at 11:31:17 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • There was an old episode of PAWN STARS on last week, ironically the day after I got my steelie, as i was just channel flipping and happened on that segment. The seller had a 1943 'D' steelie and wanted like $110,00 for is saying that was what it was valued at. The guys called in their scripted 'expert' as usual and he said it was only worth about 10% of that so the guys offered him something like $10,500 but he walked. They mentioned that million dollar coin in 2002 on ebay but I haven't checked into that yet. Seems strange why they don't pop up more often if so many were made. I'll look into those orgs you mentioned...

    Tim Daley(MI)

    Mower    Posted 08-19-2017 at 10:14:24 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • You do realize that those TV shows are scripted and faked, right? Surely no one actually watches that garbage, much less believes it, right?

    Tim Daley(MI)    Posted 08-20-2017 at 05:27:09 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • Really? Faked? do you think? It wouldn't be on TV otherwise...

    Tim Daley(MI)

    Ed Gooding (VA)    Posted 08-17-2017 at 11:43:24 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • A '43-D "steelie" would need to be in MS-68 condition (MS-70 is top) to bring a TOP price of $15,000 (low end would be $1,600), so the seller was out to lunch.

    >> Seems strange why they don't pop up more often if so many were made <<

    I think you missed the point about the bronze specimens being so RARE:

    1943 Bronze
    10 to 15 known

    1943-D Bronze
    Unique (there is a known specimen, graded at MS-64 that is worth a half-mil)

    1943-S Bronze
    5 known

    So, if you really do have a bronze specimen and you have resisted in cleaning it, the smartest move you can make is to get it certified by one of the respected coin grading agencies like the two I mentioned. NO dealer or knowledgeable collector will view this as anything by suspicious unless you get it certified. There are a LOT of counterfeit coins out there for the rare specimens.

    Tim Daley(MI)    Posted 08-16-2017 at 17:58:18 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • Upon further review and inspection, I have a 1943 bronze penny. There is no "D" nor "S" mint code on it. The color threw me at first as I thought it was just copper coated on both sides. Glad I didn't soak it in cider. So, it's off to Vegas or Iowa to talk to the TV guys...or a collector...

    Tim Daley(MI)

    steveVa    Posted 08-17-2017 at 09:39:09 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • The bonze ones are the most rare. That would be an incredible find. The first thing to do is to photograph it from all sides and angles to show any distinguishing marks or scratches. That way you can record that it is uniquely yours. Insure it and put it in a safe place. Word travels fast...

    Ed Gooding (VA)    Posted 08-17-2017 at 10:02:52 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • A better choice would be to send it to PCGS or NGC to have it professionally certified and stored in a sealed plastic container to preserve it.

    steveVa    Posted 08-17-2017 at 11:16:24 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • I would still photograph and insure it first.

    Ed Gooding (VA)    Posted 08-17-2017 at 11:26:50 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • You won't be able to get the coin properly and fully insured unless it's been certified by an coin grading agency like PCGS or NGC. You also won't get the same price from a reputable auction house or dealer. You cannot tell from a photo whether it really is bronze or steel, or whether it has been cleaned or even counterfeited without an experienced coin grader evaluating the coin. ANY coin with a noted circulation of only 10-15 specimens will be looked at with HUGE suspicion by any knowledgeable collector or coin dealer.

    I've collected coins all my life. Heritage Auctions in Dallas, TX sold my certified and uncirculated Lincoln Penny collection for just over $65,000 about 10 years ago.

    steveVa    Posted 08-17-2017 at 17:49:10 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • Hey Ed, did you have a 1955 double die???

    Ed Gooding (VA)    Posted 08-17-2017 at 21:35:30 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • I did. I filled out my collection with die varieties before selling it. There are other Lincoln dates with double dies, repunched mint marks, etc. If you are interested in those varieties, check out a book titled "Cherrypickers' Guide to Rare Die Varieties". It's a collector's bible on these types of coins.

    steveVa    Posted 08-17-2017 at 23:18:37 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • My grandfather and grandmother ran a general store in Pa in the 50's 60's and 70's.
    One of my uncles found 2 excellent condition 55 double dies in the cash drawer one summer about 2 weeks apart. He went crazy trying to figure out where they came from.
    He always speculated that someone had a whole roll of them somewhere.

    Ed Gooding (VA)    Posted 08-18-2017 at 09:14:48 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • Those were great years for collecting circulated coinage. That's when I started collecting. You could still find Indian Head pennies, V nickels, Liberty quarters and other older coins in circulation. I would go through coins earned from my paper route and go to the bank and buy rolls of coins and go through them to fill in my collections.

    Finding two '55 double dies in two weeks is pretty cool. '55 was not a good year for the 3 mints - all 3 produced error pennies that year. The 1955's are actually not that rare or as valuable as some other Lincolns. The '55-P (no mint mark) doubled die obverse is the one with the "In God We Trust" doubled. There are two '55-D varieties - one with a doubled date, one with a doubled (repunched) mint mark and another with a vertical "D" punched over a horizontal "D". There is a '55-S variety with a repunched mint mark.

    steveVa    Posted 08-17-2017 at 17:45:36 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • Ed, I am not disagreeing with you.
    I myself would just feel better if I had a way of identifying the coin by its appearance, scratches blemishes etc. are a way of claiming something if it were to get "lost". You can also insure things for a declared value if you are willing to pay the premium. Even the post office will insure things for a declared value. A few pictures are better then nothing and they won't hurt the coin. Sure you need to get it certified if you want to sell it or fully insure it, but some insurance is better then none.
    I just hope he has the real thing. That would be a great find...

    Tim Daley(MI)    Posted 08-18-2017 at 06:03:53 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • I would not trust nor use the USPS to mail/send something as rare like this. I would use something like UPS, DHS, or Fed-Ex with certifiable insurance and any extras to at least have good tracking and compensation if lost. They still aren't 100% guaranteed but a lot better than our FUBAR USPS. I'm still waiting on delivery of 4 packages using the USPS that they've 'lost' in the past two years. One is an ebay Ford Wrench from the UK that shows the last place it was sent to was the distribution center here in Michigan.

    Tim Daley(MI)

    Tim Daley(MI)    Posted 08-17-2017 at 14:03:42 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • What is a Lincoln Penny -aren't they all Lincoln head pennies? Do you mean the VDB ones? I understand about the rare bronze ones, but my statement was geared to the 684 million-some standard ones that got minted. I haven't cleaned mine at all, is not a fake -it passes the magnet test. I went thru my coins last night and pulled out two more '43 pennies, four 1944 ones as well as a half dozen buffalo head nickels. I'll get them all certified when I can afford to subscribe to their membership...

    Tim Daley(MI)

    Ed Gooding (VA)    Posted 08-17-2017 at 14:28:46 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • Lincoln Head pennies have been minted since 1909 to the present.

    Before that, what are referred to as Indian Head pennies were minted.

    The VDB pennies were ONLY 1909 are represent the initials of the original artist/engraver. The 1909-S VDB is one of the icons of Lincoln penny collections, but there are others that are more rare and more valuable.

    The 684 million did not contain copper - same rationale as the materials used in our '42 war horse tractors - because of the war, copper was used for war materials and not used in coins for the next few years. There is NO value to the steelies. If you really have a bronze one and it is in good condition, then you have something. Given that there are only 10-15 '43 specimens known to be in existence, the chance that you have one is very slim and that you have two is near improbable.

    Tim Daley(MI)    Posted 08-18-2017 at 06:11:40 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • Ed-
    The coin I have is real, and is bronze. I was in manufacturing for over 35 years, retired engineer now, worked in machining since I was 17, cutting every material on the planet, have had metallurgy, casting & forming, coining, et al classes in college and in the real work place. I know what steel is, what copper is, what zinc is, what bronze is, etc. and can identify them. I'll eventually get it verified officially, but for now it is locked up in my safety deposit box at the bank. Thanks for the links and input.

    Tim Daley(MI)

    Ed Gooding (VA)    Posted 08-17-2017 at 07:16:31 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • If it's really bronze, it will need to be in XF (Extra Fine) condition to be worth some good bucks, but if you have cleaned it any way, the value of the coin will have been seriously nuked. No reputable grading service will evaluate and certify it.

    Doug    Posted 08-16-2017 at 12:20:32 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • I have been collecting as a hobby fora few years now and have collected and purchased several steel pennies. all that i have a steel no copper coating and only have a value of around $12. there must have something really special about the one that sold for $1 million. either way great find, best way to get them is from circulation. makes you wonder where it has been and who has held it. add it to your collection and enjoy.

    steveVa    Posted 08-16-2017 at 12:08:00 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • I thought the really rare ones were all copper. Does it have a D or a S under the date. Either way a really nice find fo being in a grocery store. My uncle is a collector, and we were just talking about 43's a week or so ago.

    Jimmyjack    Posted 08-16-2017 at 12:30:29 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • They cant be too rare, my Dad gave me a cigar box full of them!Im 75 and havent looked at them for 30 years.

    Bruce(OR)    Posted 08-16-2017 at 19:18:12 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • Yeah somewhere is a bunch of them. They could be either another tractor or retirement fund.

    steveVa    Posted 08-16-2017 at 15:11:39 [URL] [DELETE]        [Reply] [No Email]  
  • Re: RARE COIN
  • The million dollar one was actually mistakenly made from bronze. Very Rare. Hope you both have one...
    I'll come and visit...

    Richard NY 2N    Posted 08-16-2017 at 22:49:02 [URL] [DELETE]        [Reply] [Email]  
  • Re: RARE COIN
  • Interesting fact. I used to collect and have about a roll and a half of 43's. Nice find Tim!

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