A 'Royal' Coin From 2023 Could Be Worth A Ton Of Money
The last of The Royal Mint's one-ounce gold coins containing the image of Queen Elizabeth II sold for a whopping $50,000 in August 2023 at the Global Showcase Auction through Stack's Bowers Galleries. Matthew Jones, a precious metals analyst, explained to GOBankingRates why it received such a high bid: "The rarity of the last Britannia coin minted with Queen Elizabeth II is simple — there is only one in the world."
The Royal Mint started to make this Britannia coin in 2022 for a 2023 release date. Because Brittania coins contain the image of the United Kingdom of Great Britain and Northern Ireland's current monarch, this coin featured Queen Elizabeth. However, when she died on September 8, 2022, after an incredible 70-year reign, The Royal Mint had already produced 20,000-30,000 coins with her image. This not only necessitated a switch to the image of her successor, her son King Charles III, on official coins, but also made the Queen Elizabeth coins more valuable as an error. This coin was also minted in silver, with the silver version selling for $19,000 — also in August 2023 — at the same Global Showcase Auction.
Another rare coin that could be worth a ton of money
Another example of a rare coin that brought in a massive payday is the high relief, matte finish 1922 Peace Dollar. Coin Week shares how the Philadelphia Mint likely only produced these coins for a week or two. After creating a limited quantity of them, mint officials stopped because of challenges associated with producing high relief coins. Their plan was to melt all of these high relief coins down, but a small number of proof coins escaped that fate. Currently, there are only an estimated 10 known coins still in existence.
One lucky man won a high relief 1922 Peace Dollar in a poker game, and wanted to sell it to the Las Vegas Gold & Silver Pawn Shop. This store serves as the location for the popular show, "Pawn Shop." He didn't seem to know its true value, though, telling store owner Rick Harrison that he wanted to sell it for $20,000. Harrison called in an expert in coin grading, who estimated the value at between $50,000 and $100,000. In the end, it was purchased by Harrison for $80,000 in 2014, and was soon after sold again to an enthusiast for $99,875 in January 2015, through Heritage Auctions.
How to spot rare coins you may have
Wondering how to spot rare coins that could be worth a ton? Examine your coinage for off-center images as value will typically be higher when more of the standard image isn't on the coin. Also look for doubled wording, numbering, or images — and blank coins that didn't get marked in the mint. In general, coins with an error are worth more than face value with the value partially depending upon the rarity of the error. So, finding a coin with a die error could make you richer.
Also consider your coins' condition, which can play a big role in valuation. Coins can receive a rating from 1 to 70, with uncirculated coins likely to receive a much higher grade than ones that have been in general circulation. Plus, pre-1965 coins typically contain a greater percentage of silver, 90%,which can make them more valuable than later coins. After the passage of the Coin Act of 1965, most coins intended for circulation no longer contained silver, instead containing less expensive nickel or copper. If you think you've spotted a valuable coin in your collection, consider asking a professional coin grader for confirmation.