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Over time, coins can become rare collectibles that sell for thousands, if not millions, of dollars. This is because the US has been minting coins since 1793. Until the 20th century, many coins were made of base metals such as gold and silver – that is, until gold was banned from coinage via executive order in 1933, and silver production was discontinued in the early 1970s.
Flipping rare coins is a profitable side hustle for coin collectors
However, just because the recipe and materials have changed, does not mean that these coins are not still increasing in value due to their rarity and background story.
GOBankingRates explored the history of some of these hard-to-find (and now incredibly valuable) coins sought after by collectors around the world. The current selling price of these coins depends on how many of the coins were originally produced during their minting, as well as how many still exist. The material and composition of coins also increases their value, as many coins have become precious and difficult to find.
For example, the 1792 Silver Center Cent J-1 was originally valued at one cent – the penny of its time – when it was initially minted and later released to the American public. The composition was primarily copper around a center of silver. These unique qualities not only increase its value, but are compounded by the coin having a special strike from a pattern designed by the United States Mint in 1792 and then beginning testing in 1793. There are only an estimated 25 Silver Center Cent J-1 Special Strike coins floating around in various collections today, with a highest selling price of $2,520,000.
So, the next time you’re digging through old jars of money in your grandparents’ attic or sifting through the junk drawer in the far corner of a thrift store, you might want to keep your eye on some rare coins that could be worth millions upon millions of dollars.
Here are 10 more rare coins that sold for more than $1 million, prices and details obtained from SD Bullion.
1907 Extremely High Relief Double Eagle $20 (Proof)
- material composition: Copper (10%), Gold (90%)
- Mint amount: around 16-22
- Estimated Survival Amount: 15
- Original face value: $20
- Record Sales: $3,600,000
1913 Liberty Head Nickel (Proof)
- material composition: nickel(25%), copper(75%)
- Mint amount: 5
- Estimated Survival Amount: 5
- Original face value: $0.05
- Record Sales: $4,560,000
1804 Class I Draped Bust Silver Dollar $1 (Proof)
- material composition: Copper (10%), Silver (90%)
- Mint amount: 8
- Estimated Survival Amount: 8
- Original face value: $1
- Record Sales: $7,680,000
1787 Brasher Doubloon $15, Breast Punch (Regular Strike)
- material composition: Gold (about 89%), Silver (about 6%), Copper (about 3%), Trace elements (2%)
- Mint amount: unknown
- Estimated Survival Amount: 1
- Original face value: $15
- Record Sales: $2,999,000
1885 Trade Dollar T$1 (Proof)
- material composition: Copper (10%), Silver (90%)
- Mint amount: 5
- Estimated Survival Amount: 5
- Original face value: $1
- Record Sales: $3,960,000
1804 Eagle $10 Plane 4, Deep Cameo (Proof)
- material composition: Gold (91.7%) Copper (8.3%)
- Mint amount: 6
- Estimated Survival Amount: 3
- Original face value: $10
- Record Sales: $5,280,00
1861 Double Eagle $20 Packet Reverse (Regular Strike)
- material composition: Copper (10%), Gold (90%)
- Mint amount: 2,976,453
- Estimated Survival Amount: 2
- Original face value: $20
- Record Sales: $7,200,000
1822 Capped Head Half Eagle $5 BD-1 (Regular Strike)
- material composition: Copper (8.3%), Gold (91.7%)
- Mint amount: 17,796
- Estimated Survival Amount: 3
- Original face value: $5
- Record Sales: $8,400,000
1974 Flowing Hair Silver Dollar $1 (Special Strike)
- material composition: Copper (10%), Silver (90%)
- Mint amount: unknown
- Estimated Survival Amount: 1
- Original face value: $1
- Record Sales: $10,016,875
1933 Double Eagle $20 (Regular Strike)
- material composition: Copper (10%), Gold (90%)
- Mint amount: 445,500
- Estimated Survival Amount: 16
- Original face value: $20
- Record Sales: $18,872,250