It will undoubtedly sound bizarre, that among the most sought-after coins by collectors, and consequently most appreciated, there is a trivial 1 cent coin.
As a reminder, the 1 and 2 cent coins will soon be withdrawn.
1 cent coin withdrawn shortly
The reason for the withdrawal from circulation is not because they are used less and lessbut above all because the value of the raw material (copper) is higher than the formal value.
For this reason, it is advisable to keep them as they can quickly become of great value. What are the characteristics of one rare 1 cent coin which can even bring in more than 6,000 euros?
–
And what is the number of specimens still in circulation and the reason why it has acquired so much value in such a short time …
Rare coins for collectors
Many factors work together to determine the price and value of a particular coin. First of all, you need to understand the difference between price and value. For most people, these two terms are used interchangeably.
For coin collectors, however, they have different meanings. The price or retail price of a coin is what you pay for that coin when you buy it from a trader.
The value or wholesale price of a coin is what a coin trader would give you to buy the coin from you.
The coin market is intricate and complex and many factors influence the prices and values of the coins.
The main influence on the value or price of a coin is the supply of that particular coin to a certain degree that is available for purchase.
The total supply available on the market is determined by the initial minting of the coin. For most countries, at the end of a year, the matrices of the coins with the year in question are destroyed and never used again.
Therefore, once a year’s production is complete, the supply of that coin for that date is fixed.
–
Minting errors
The specialized sites claim that among the cents you can also find some specimens of particular value for collectors which can reach a large quotation.
On the “regular” 1 cent coin there is the Castel del Monte in Puglia. The very rare and sought-after coin, on the other hand, shows the Mole Antonelliana, which is usually present on the 2-cent coin.
This 1-cent specimen, in addition to this incredible mistake, features the diameter and overall measurements of a 2 cent coin, precisely 18.75mm.
According to estimates, a total of about 7,000 1-cent coins were made with the Mole Antonelliana, but it is also well known that most of them were withdrawn when the incredible error was discovered.
It is thought that about 100 specimens survived the retreator, and that they immediately became among the most coveted by numismatists and the most avid collectors.
Although the estimated value for this rare 1 cent coin is between 2,500 and 3,000 euros, during an auction, some specimens were “struck” with a value of 6,000 euros.
–
–
