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The valuable dollar cents that can be worth up to 800 million pesos – USA – International

A man named Lutes went down in history for possessing for many years a penny that was sold for 204,000 dollars (approximately 867 million pesos) last January, according to Heritage Auctionsthe auction house that conducted the sale.

A penny is supposed to be worth that: a penny. However, when these coins are kept over the years by collectors, their value increases exponentially.

Lutes owned a Lincoln bronze penny from 1943 until 2018, when he passed away. But earlier, when her health deteriorated, he handed her over to the auction house. Heritage Auctions.

“Lutes, then 16, received the copper-colored penny in exchange for it in his high school cafeteria in 1947,” said David Stone, a US coin cataloger. Heritageto ‘CNBC Make It’.

Nearly 30 bids were received by the auction house when it put the coin up for sale. Proceeds went to the Berkshire Athenaeum Public Library, located in Pittsfield, Massachusetts, Lutes’ hometown.

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As Stone explained to the American media, the value of a penny depends on its quality and rarity. As for the 1943 Lincoln bronze penny, he noted that only a handful of these have been discovered, including the one found by Lutes.

bronze penny

1943 bronze Lincoln.

The United States Mint stopped using bronze to preserve the material for armed struggle, so the manufacture of cents began to be made with zinc-coated steel plates, according to a coin cataloger.

The most famous error coin in American numismatics

However, Stone explained that “some of the old bronze planks got stuck in the large containers the Mint used to feed the coin presses in late 1942. The few bronze coins that were minted went unnoticed and were put into circulation.”

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That is how Lincoln’s bronze penny became, in Stone’s words, “the most famous error coin in American numismatics.”. However, the expert assured that the chances of finding one of these is almost impossible.

“The most valuable Lincoln cent was sold privately in 2010 for $1.7 million,” Stone said.

Only 15 to 20 Lincoln bronze pennies are known to collectors to date. But due to its value, several fake steel replicas have circulated, so experts advise anyone who finds one to examine it with a magnet, because if it sticks, it’s not bronze.

WEATHER TRENDS

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