The current numismatic market assigns astronomical values to pieces that at first glance, and through lack of knowledge, might seem like mere scrap. From the legendary 1913 Liberty Head Nickel to the 1909-S Indian Head Penny, certain coins have reached millions of dollars in auction prices. For collectors of old coins, the key is to research before spending on professional appraisals, as the condition and rarity can turn a small fraction of a dollar into a fortune.
The value of a single coin
You don’t need to be an expert in numismatics to know that some old coins hide a staggering value. In some pieces, the face value of a penny or a dime is just a distraction; the real figure depends on how hard it is to find that particular coin today, as well as its history and condition. The passage of time is also a value multiplier, as it can turn small change into an investment asset.
If you suspect you have an uncommon piece in your possession, the first step is to stay calm. You shouldn’t spend large amounts of money on appraisals; instead, it’s recommended to first do a bit of online research to find information about it. Once you are certain that it’s a unique piece, you can then take the next steps.
Millions in a single Coin
Let’s look at 5 cases of the most valued—and therefore expensive—coins in the history of the United States and what their histories have been.
1913 Liberty Head Nickel
The story of this coin is almost mystical. Very few units of the 1913 Liberty Head Nickel were manufactured, and today, its existence is almost legendary. Two of them are part of private collections, making them practically unattainable. The most famous case is the Eliasberg specimen, which holds the highest grade from PCGS (PR66).
The appreciation of this coin is evident in the increase of its price over time. In 1996 it was sold for $1,480,000. By March 2001, its value had risen to $1,840,000. In 2005, the firm Legend Numismatics acquired it for $4,150,000, and finally, in 2007, it reached the astonishing amount of $5 million. Although it is practically impossible for you to find this exact piece, there are similar variants whose value far exceeds the five cents of their official denomination.
1794 Flowing Hair Dollar
It was minted at the end of the 18th century, between 1794 and 1795, and designed by Robert Scot, featuring on its obverse the bust of Liberty with flowing hair, while the reverse displays an eagle surrounded by a wreath of flowers. A specimen of it was sold for $6.6 million, although versions classified as “MS” (Mint State) usually range in auctions from a few thousand to $100K. Over time, this design was replaced by the “Draped Bust dollar,” and according to the PCGS, it is estimated that between 150 and 200 specimens remain.
1940s Mercury Dime
Not all valuable coins are from the 18th century. The 1940s Mercury Dime, part of a series produced between 1916 and 1945, is a sought-after item. It was designed by Adolph Alexander Weinman, and only around 21.5 million units were minted. While they haven’t reached the million-dollar value of some earlier coins, they have reached a respectable $8,519. Its design features a young Liberty wearing a winged cap on the front and an olive branch over fasces on the reverse.
Saint-Gaudens Double Eagle
Minted between 1907 and 1933, it is considered a masterpiece. Its creator, the sculptor Augustus Saint-Gaudens, depicted Liberty with a torch and an olive branch in front of a radiant sun and the U.S. Capitol, surrounded by 46 stars. Some versions omitted the phrase “In God We Trust.” A 1907 specimen with a grade of 68 has an estimated value of $300,000, while the auction record for an MS67 grade stands at $276,000.
1909-S Indian Head Penny
The 1909-S Indian Head Penny, with just over 300,000 units produced, was designed by James Barton Longacre and is considered an absolute rarity. In 2021, a specimen with an NGC Genuine grade was auctioned for $3,400. These coins, which feature Liberty wearing a feathered headdress, marked the end of the Indian Head cent series that ran from 1859 to 1909.