For coin collectors and numismatists, extinct coins often hold more than historical value—they represent an investment opportunity that has paid off tremendously. Coins that were once in circulation but are no longer minted can command eye-watering prices due to their scarcity, historical significance, and desirability among collectors. Here is a look at 12 coins that have disappeared from daily use but are now highly valuable.
1. Flowing Hair Dollar (1794)
The 1794 Flowing Hair Dollar is one of the earliest silver dollars minted in the United States. It is believed that only 1,758 coins were minted, making it incredibly rare. One example sold for over $10 million, primarily due to its significance as the first-ever U.S. silver dollar.
2. Saint-Gaudens Double Eagle (1933)
The 1933 Saint-Gaudens Double Eagle is a legendary coin. Despite its initial production, all were ordered to be melted down as part of a move to end the gold standard. Only a handful survived, and one sold at auction for nearly $19 million in 2021.
3. 1913 Liberty Head Nickel
The 1913 Liberty Head Nickel is a mystery wrapped in intrigue, with only five examples known to exist. Though it was never officially released, the coin’s rarity and unique backstory have made it incredibly valuable, with one selling for $4.5 million.
4. Edward III Florin (England, 1344)
Minted during the reign of Edward III, only three of these coins are known to exist today. The florin was originally issued to facilitate trade but failed due to inconsistent value. One of these rare coins fetched $6.8 million at auction.
5. Brasher Doubloon (1787)
Produced by New York goldsmith Ephraim Brasher, this gold coin is among the rarest in American coinage. A doubloon stamped with Brasher’s signature “EB” mark sold for more than $9 million, reflecting its historical and collectible appeal.
6. Indian Head Penny (1877)
The Indian Head Penny from 1877 is one of the rarest in the series due to low mintage. While it may not be worth millions, well-preserved examples can fetch tens of thousands of dollars due to their scarcity and demand among collectors.
7. Draped Bust Silver Dollar (1804)
The 1804 Draped Bust Silver Dollar is dubbed the “King of American Coins.” Despite its date, most coins were struck in the 1830s as diplomatic gifts. With only 15 known to exist, these coins can sell for millions at auction.
8. 1943 Copper Penny
In 1943, the U.S. Mint switched to steel pennies to conserve copper for wartime efforts. However, a few copper pennies mistakenly made it into circulation, and each one is worth a small fortune, with sales reaching over $200,000.
9. Canadian Dot Penny (1936)
A transitional coin issued after King George V’s death, the dot penny is one of Canada’s rarest coins, with only a few examples known. It is highly sought after, with auction prices reaching as high as $400,000.
10. Queen Elizabeth II Mint Error Coin
Although more recent, rare minting errors from Queen Elizabeth II’s reign can attract high prices. Coins with significant errors or unique misprints have sold for thousands of dollars due to their collectibility.
11. Lincoln Wheat Penny (1944 Steel)
Similar to the 1943 copper penny, the 1944 steel wheat penny came from a few leftover steel blanks mistakenly used during the year. These are extremely valuable, often selling for tens of thousands of dollars.
12. Mule Coins
A mule coin results from mismatched dies being used during minting. A famous example is the Sacagawea dollar with a state quarter obverse. The rarity and curiosity behind such coins make them highly sought after, fetching up to six figures.
Conclusion
The common denominator for the value of these extinct coins is rarity, historical importance, and collector interest. Market demand fluctuates based on economic factors and numismatic trends, but coins with unique stories or limited production runs maintain their high appeal. For those lucky enough to possess such treasures, these coins represent more than collectibles—they’re artifacts with immense value.
FAQs
What makes a coin valuable after it becomes extinct?
A coin’s value is often determined by rarity, historical significance, collector demand, and unique features like minting errors or special production runs.
Where can I buy rare and extinct coins?
Rare coins can be purchased through reputable dealers, auctions, online platforms like eBay, and through specialized numismatic events.
How can I tell if my coin is rare and valuable?
Research its mintage year, check for mintmarks or errors, and consider its condition. Professional grading services like PCGS and NGC can help determine value.