1 Million Pennies Project, Texas woman Megan Green describes her introduction to the hobby:
When it was time to have some mommy alone time, I’d get on YouTube and watch different videos such as photography, music, education and news. I one day came across a news reporting video about the 1970 Washington Quarter that had been stamped with a Canadian Quarter and was sold for $35,000. I was dumbfounded as to how someone would pay that much for a quarter. A thought came to my mind about trying out this new hobby and I felt if I could help out financially for my family and enjoy doing it at the same time, it’s a win-win situation. I sat there almost two hours scrolling through different coin videos which soon had me hooked!
Green and her kids were able to find many different die varieties, including a rare 1969-S Lincoln Cent double die obverse. Here's the coin she found:
1969sddo
This is not the coin Green found, but it shows much better detail of the doubling:
1969sddoc
To get an idea of how much Green's coin is worth, we can look at past auction sales of the same grade and variety. PCGS reports that the last sale of a 1969-S Lincoln Cent DDO with the same grade was in January 2019. That coin sold for $15,000.
prices10/19
So we can assume this coin is worth at least $10,000.
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Green's story is not unique. There have been many very valuable finds in coin roll hunting. And I highly encourage you to start hunting, too. However, you should prepare to be disappointed.
Truth is, these coins are so valuable because they're rare. Unless you're extremely lucky, you're going to have to look through hundreds of rolls of coins to find anything really valuable. Remember, Green's blog is titled 1 Million Pennies Project. That's probably how many pennies she and her kids looked through to find this one coin.
Can you make a lot of money coin roll hunting?
Yes. But your odds of actually finding something worth thousands of dollars is something like one in a million. You can also make a lot of money playing the lottery — and your odds are about the same.
So why would I encourage you to start?
Well, even though you may not ever find anything valuable, coin roll hunting can still be very rewarding. And investing your time into it might have more benefits than you think.
Searching through coins is very repetitive: pick up a coin, examine it, find nothing, and put it back down. Rinse and repeat. The repetitive nature of the hobby might sound a bit boring. But it's also quite zen. It's an activity that requires focus and attention to detail. To me, it's very much like zen gardening.
If that's something you're interested in, then I'd highly recommend coin roll hunting. But as far as hunting for profit, there are better options.
Until next time,
luke_signature.gif
Luke Burgess
Energy and Capital
P.S. Most U.S. silver coins have been taken out of circulation. But every once in a while you can find one. Here's a great tip on finding junk silver coins among the rest: Instead of looking at the face of each and every coin for the year, look at the coin's rim. The metal on the rim of the copper-plated coins rubs off quite easily, and you can see the copper shining through. Here's what I mean:
Old U.S. coins contained copper only as a hardener, so the rims of 90% silver coins will be pure silver:
Most times 90% silver coins will stick out like a sore thumb among the rest:
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China’s imports and exports fell for the second month in a row this September.
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