Penny value

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Iceresistance
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Re: Penny value

#11 Unread post by Iceresistance »

It's only valued at 1 cent, someone smashed the 'I' away from 'LIBERTY'
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Re: Penny value

#12 Unread post by William650 »

Thanks to everyone who answered

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Earle42
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Re: Penny value

#13 Unread post by Earle42 »

Studying the minting process would show a missing letter can actually be caused at the mint by die polishing compound. The dies that strike the coins are polished to prolong their life and sometimes the compound is not thoroughly cleaned out of the voids in the die. So metal cannot move into those voids and details can be missing. This is termed a "struck through grease" coin or a "greaser."

However...most of those greasers are not worth anything over face value b/c it is so common.
...and...yours is not greaser b/c the I is still there! Just not where you expect it to be.
It really doesn't matter how beat up it is. If you look really closely there is no I.
Actually its current beat up condition tells a lot about why this coin does not have the letter I sitting where it normally would be. The obvious beating this coin took included something we see here often from other people also finding coins with "missing" letters.

Note the B in LIBERTY has a vertical bar of metal at its left that is not normally on a cent. This is your letter I. People generally don't think the odds of one coin being hit just perfectly to move a letter/device rather than making a deep gouge might seem very slim. But the sheer number of coins in circulation (tens of billions are made each year (one billion seconds is 33 1/3 years!), makes it easier to see why this type of damage is not all that rare to find.
Click to enlarge.
Click to enlarge.

Oh...the reason you do not see obvious marks from where the metal was moved is the coin also obviously underwent a lot of circulation and therefore re-toning of the surface. This is also something we see from time to time on the forum.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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Re: Penny value

#14 Unread post by Daniel »

Besides what Earle stated, the coin doesn't have any mint errors at all, beat up coins like this don't have extra value.

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