Secrets Of Rare Pennies

There is a mad rush for collecting rare coins amongst youngsters as well as older people. Pennies made up of copper, zinc- coated steel, even silver or gold coated pennies with certain faces inscribed on them have always attracted several generations of people. Often such rare pennies give a bit of historical records. Collecting pennies is indeed a good way of enlightening yourself. It is a nice hobby as well.

Every rare penny usually has a story revolving round them. These may be historical stories of riots, of war, and losses of lives as well as a queen's reign.

The older a penny is rarer it is considered to be.1933 is considered to be the most coin rarities in the British era. Though there are several coins that has a lot of importance yet this year has marked a niche for itself among the rarities of pennies.
The pennies which were during Queen Anne's age were considered to be rare. These pennies were also very valuable.

1943 coins depict the period of war.1943 coin is made out of steel and so that it appears nice it is coated with zinc. However 1943 coin is an error coin. It was build accidentally when the mint had used a wrong metal, although very few have come out of the mint. In the year 1672 during the reign of Charles II Copper farthings were innovated. Though these became quite famous they were not economical to be produced by the mint.

Though 1933 Saint-Gaudens Gold Double Eagle was never used officially it has remained to be the most valuable among the rare pennies. It was issued in the year 1907.About 445,500 of these coins were minted though none were let out for the purpose of circulation. The reason behind this was certain changes were made in
Currency laws in times of Great Depression. For the purpose of bringing a stability in the economy during that time President Roosevelt took the gold standard off America, as consequence were the circulation of gold coins were stopped people had to give away the ones they possessed. Out of these coins nine were sold by Israel Switt, one was found in the collection of King Farouk of Egypt.

However it was considered to be stolen property of U.S. mint and was confiscated. After forty years, British coin dealer Stephen Fenton exhibited the coin in New York, unfortunately it was seized during a sting operation. Fenton fought a legal battle and later on the U.S. mint had come to a compromise. That the rare penny would be sold in the auction. It was sold in auction on July 30th 2002.