ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Coin expert reveals some pennies are actually worth $20,000 — just watch out for this one detail

Early 1980s was a special era as several rare coins were minted then.
UPDATED DEC 25, 2024
Representative image showing a man checking coins (Cover Image Source: Getty Images | Photo by Westend1)
Representative image showing a man checking coins (Cover Image Source: Getty Images | Photo by Westend1)

Sometimes pennies have much more to offer than just their face value. Rare coins often go for thousands of dollars at auctions where collectors are willing to pay big. While there are several such rare coins, the 1982-83 pennies are particularly popular among buyers. TikTok creator and coin expert called Wheats to Shields (@wheatstoshields) recently went viral for sharing a coin that sold for over $20,000. The creator shared details and the correct method for spotting such valuable coins. 

Screenshots from the videos | TikTok | @wheatstoshields
Screenshots from the videos (Image source: TikTok | @wheatstoshields)

The early 1980s were a special period for the United States Mint. In 1983, the mint transitioned from making pennies with a copper core to a zinc core with copper plating to cut costs, per the Professional Coin Grading Service (PCGS).

While most such pennies aren't worth a lot, some anomalies are worth taking a look at. As per PCGS, some pennies were accidentally minted as completely copper. These are the versions that are exceedingly rare and valuable, selling for upwards of $20,000 at some auctions, as per another video from Wheats to Shields.

In the video, the creator explains the details of the pennies responding to the numerous questions she had received. She says that the most important thing when it comes to spotting valuable coins is getting their weight right. 

She explains that the normal coins of the 1983 period weigh in at about 2.5 to 2.7 grams. Meanwhile, the valuable copper coins weigh in at over 3 grams, which is the main differentiator. 

Screenshots from the video | TikTok | @wheatstoshields
Screenshots showing the expert talk about coins (Image source: TikTok | @wheatstoshields)

She says people who are looking to get into coins or have just come across a coin from that period should use a weighing scale to see if their coins are valuable. She says weigh scales can be bought from Amazon for a few dollars.

However, she cautions that people should use scales that show the reading in both grams and ounces. She says if the scale only shows the reading in grams, it can get collectors in trouble. This is because such scales automatically round up or round down the number, giving false readings. 

Screenshots from the video | TikTok | @wheatstoshields
Screenshots from the video featuring the coin expert (Image source: TikTok | @wheatstoshields)

"I don't want you to have a heart attack," she says in the video. "Do not use scales that give readings only in gram!" the creator repeatedly cautions at the end of the video. 

Screenshot from the comments | TikTok | @thecurrencysearcher
Screenshot from the comments under the video (Image source: TikTok | @thecurrencysearcher)

According to a previous valuation from the PCGS, people who find a 1983 penny that weighs over 3 grams on the right scale, may be sitting on a pile of cash.

A 2023 listing on the PCGS website shows a 1983 copper penny sold for $1,140 at auction. While it is considerably less than the creator's claim, compounded minting errors could make coins all the more valuable. 

One such anomaly led to the creation of the "1982-D Small Date Copper Alloy Lincoln Cent", which sold for a whopping $18,800 in 2016, according to Numismatic News. Thus, taking the creator's advice and checking pennies from the era may be worth it. 


@wheatstoshields weight is key so have the right scale .. the 1983 $20,000 penny . #coincollecting #coins #bigbucks #pennyhunters #searchingforacoin ♬ Little Things - Tiqta

 

For more updates, coin tips, and such information, follow Wheats to Shields (@wheatstoshields) on TikTok.

This article originally appeared 2 months ago.

MORE ON MARKET REALIST
Despite getting a high auction estimate, the owner of the Meiji Period lamp chose to keep it.
5 hours ago
The player, Gabriel Berkowitz pulled off a perfect night winning over $45,000 and a car.
6 hours ago
Harvey showed no mercy after he found out that Sweet Lou Dunbar didn't know how apps work.
10 hours ago
The founder of Plop Star made an unforgettable entry and a sad exit from the show.
1 day ago
The host is otherwise quick to reprimand families for backing absurd answers.
1 day ago
While the Marvel comic book fetched a $50,000 appraisal, Harrison felt it was too rich for him.
1 day ago
Jimmy Alexander became the first player to lose a brand-new car on season 43 of the show.
2 days ago
The contestant, Brianne Peterson got extremely unlucky with her letter picks for the final puzzle.
2 days ago
The guest was told that the Jasper Johns Flag Print wouldn't be valuable but it was worth thousands.
2 days ago
It didn’t help that Alvin Rosales was playfully scolded by the host just before losing the Bonus Round.
3 days ago
The photos featured some looks of the show's legendary former host, Alex Trebek, as well.
3 days ago
The player, Kate Stuntz, pulled off a miraculous win to take home over $68,000 and a trip to Iceland.
3 days ago
The owner couldn’t believe the value of Jane Peterson’s "The Floats" gouache painting.
4 days ago
The player, Callie DeWeese, failed to choose the right letters in the Bonus Round, leading to her loss.
4 days ago
The personal digs at the host have been relentless on the show by producers and players.
4 days ago
The guest had no idea how valuable her grandfathers Dutch tinware coffee pot was.
5 days ago
It wasn't one of Steve Harvey's jokes that cracked Bridget up so bad.
5 days ago
Fans now won't be able to stream more than five most recent episodes of the new season.
5 days ago
Despite the questionable morality of CATE App, Neal Desai managed to partner with two Sharks.
6 days ago
A supplier of Costco's Dubai Styled chocolate issued a notice regarding misinformation of allergens.
6 days ago