COIN collectors have been scooping up a $20 coin for much more than its intended value.
The 1852-O Twenty gold coin is particularly rare as only about 190,000 were minted, according to experts at Coin Book USA.
These coins were made from 90% gold and 10% copper and were minted in New Orleans.
While they had an original value of $20, a few details have made them sell for $4,600 and upwards of $175,648 depending on the grade.
One is currently priced at $14,500 on an auction at a popular online site called Heritage Auctions.
While not all coins will sell for that high price, two specific factors make them attractive to collectors.
The coin features Lady Liberty facing left on its obverse with a coronet of stars.
Meanwhile, its reverse features the heraldic eagle, clutching an olive branch, and arrows in its talons.
Above the eagle is the motto “IN GOD WE TRUST.”
COINING IT
This particular 1852-O Coronet Head Gold was graded AU53 by the third-party grading service Numismatic Guaranty Company, NGC.
Coins are assigned a whole number between one and 70, the highest figure being close to perfect.
What makes this AU53-graded coin valuable is its rich orange-gold surfaces with copper-red coloration.
Additionally, the auction site found no abrasions worthy of mention on the surface, which only added to its high value.
COIN GRADING
Coin experts determine value based on many factors.
Some include mintage, errors, demand, age, design, certification, and condition.
Additionally, all coins are graded on a rigid scale, so collectors will pay big bucks for them.
A grading scale has five main components: strike, surface preservation, luster, coloration, and eye appeal.
What is a die break or error on a coin?
What causes such defects on coins and why are they so rare to find?
A die break, also known as a cud, is an error on a coin that is formed when a die, (a metallic piece that is used to strike a coin) is missing a piece near the rim.
When dies strike coins, they have a heavy impact and pressure and the metal from the blank part of the coin, known as the planchet, overlaps the area left by the missing piece of the die.
Coins with such deformities are rare thanks to the strict quality control measures at the US Mint.
When such errors do occur, they are often caught and destroyed.
However, those that slip through the net become huge collector’s items worth much more than their face value.
Source: Littleton Coin Company
SPOTTING RARE COINS
Checking your spare change for any rare pennies, nickels, dimes, and other coins is a great place to start.
Typically, the most valuable coins are ones with a low mintage or an error, as those may be some of the rarest.
Additionally, coin experts will pay top dollar if they are also well-struck.
A great website to check if your coins are worth anything is eBay.
Just need to search the full coin name, select the “sold” listing, and then toggle the search to “highest value.”
In other coin news, a golden-brown detail on the front of your dime could make it worth $632,00.
Plus, check out the double die detail that makes a nickel worth $300,000.
