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

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 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. 

What makes these pennies so valuable?

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.

Here's How to Spot them

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. 

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. 

"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. 

Are these pennies worth it?

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. 

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

This article originally appeared 1 month ago.