There are numerous coins that could command hundreds and even thousands at auction – here’s everything you need to know
Ever tossed aside loose change without thinking twice? One particular British coin may make you wish you hadn’t, with the potential to fetch a hefty sum.
Such a remarkable coin is none other than the 1933 George V penny. While it appears to be worth a mere 1p at face value, an example of this coin went under the hammer for £72,000 in 2016, according to MailOnline.
And it seems like it’s value is only going up, as one was reportedly sold for £40,000 in 2004, and £45,000 in 2006. The Royal Mint explains: “No record was kept at the time of how many pennies dated 1933 were made but it is thought to be no more than six or seven.
“With no precise record of the number made, and with the coin having been struck to ordinary circulation standard, it seemed possible that one might turn up in everyday use, prompting a generation to search their change for the rare but ultimately elusive penny of 1933.”
During the 1930s, banks had such a large number of pennies that it was unnecessary to put any more into general circulation. So, the 1933 King George V coins, among others, were actually buried beneath building foundation stones as part of a tradition.
Records suggest that three 1933 pennies were placed under buildings erected that year, while another few were kept by the British Museum and the Royal Mint Museum. Chris Yang, co-founder of Coins Value, previously told the Mirror: “This is one of the rarest British coins because only a few were ever produced as part of a special minting for record-keeping.
“The rarity and historical significance of the coin makes it highly sought after by collectors….High-end auction houses like Sotheby’s or Bonhams would be the best option [to sell] such a rare coin.”
If you don’t have a 1933 penny in your possession, don’t worry. Numerous other coins command hundreds and even thousands at auction.
Take, for example, a 1983 2p coin that was accidentally struck with ‘New Pence’ on the reverse rather than ‘Two Pence’ worth between £500 and £700. Meanwhile, another £2 celebrating the Olympic Games have been listed at £1,558 and £1,478, by traders Bullion By Post and Chards, respectively.
However, it is crucial to note that a coin’s condition will largely determine its overall value. Chris Yang, Co-founder of Coins Value, previously told the Daily Star: “Coins in perfect ‘mint’ condition are worth far more than their well-worn, damaged, and poor-condition counterparts.
“Sometimes a minor difference in grade translates to hundreds, maybe thousands in value.”
