Have you ever wondered if the spare change in your pocket could be worth a fortune? Well, coin collectors should pay close attention to their nickels, especially the rare 1916 Doubled Die Obverse Nickel, which could fetch as much as $138,000. This specific coin is valuable due to a unique error that makes it incredibly rare. In this article, we will explain the coin’s value, how to identify it, and tips for coin collectors to assess their coins’ worth.
What Makes the 1916 Nickel Special?
The 1916 Doubled Die Obverse Nickel is known for its “doubled die” effect, which can be seen clearly on the front of the coin. This effect appears as the number “16” being struck twice, slightly offset, giving it a unique appearance. This error is not only rare but went unnoticed for over 50 years, making it even more valuable. Heritage Auctions, a trusted auction house, reported that one of these nickels sold for a staggering $138,000 in August 2022.
How to Spot the Error
The key feature of this valuable coin is the doubling on the date. If you notice the date “1916” appears twice on the coin in a slightly misaligned manner, you may have a rare treasure on your hands. It’s worth taking the time to inspect your coins, as spotting this error could make you much richer.
Coin Collecting Tips: How to Increase Your Coin’s Value
Check Your Change
One of the easiest ways to find valuable coins is to check your spare change. Many coins, like pennies, nickels, and dimes, could be worth thousands of dollars if they have a rare minting error or a low mintage number. eBay is a great platform to check if your coins are worth anything. You can search the full coin name, select the sold listings, and filter the search by highest value.
Get Your Coin Graded
If you believe you have a rare coin, getting it graded by a third-party service can significantly increase its value. Coin grading services like the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS) will professionally evaluate your coin, assign a grade, and encapsulate it in a protective holder, adding credibility.
Table: Coin Grading Scale
| Grade | Description |
|---|---|
| Poor (1) | Very worn, details almost gone. |
| Good (4) | Basic outlines of the design are visible. |
| Fine (12) | Some details are visible but with noticeable wear. |
| Extremely Fine (40) | Sharp details with minimal wear. |
| Mint State (60-70) | Virtually no wear, slight handling marks. |
Understanding Coin Grading
Coins are graded on a 70-point scale, with 1 being the lowest condition and 70 representing a perfect mint state. Grading considers factors like wear, luster, and strike quality. Even two coins with similar wear can have different values based on these factors.
For example:
- Good (4): Basic outlines of the design can be seen.
- Fine (12): More details are visible, but there is still noticeable wear.
- Extremely Fine (40): Sharp details with minimal wear.
- Mint State (60-70): Almost no wear, may have slight handling flaws.
Why Authenticity Matters
Authenticity is critical when it comes to coin collecting. Altered or fake coins can significantly impact their value. Using reputable grading services ensures that your coin is authentic and in its original state, increasing its credibility and market value.
Conclusion
The 1916 Doubled Die Obverse Nickel is an exciting find for any coin collector. With its unique minting error and historical value, it’s no wonder one sold for $138,000 at auction. By inspecting your coins, getting them graded, and ensuring their authenticity, you could potentially own a valuable piece of history. So, take a closer look at your change—it might just make you a fortune.
FAQ’s
How do I know if my 1916 nickel is valuable?
Look for the “doubled die” effect, especially on the date. If the numbers appear doubled or misaligned, it could be very valuable.
Where can I sell my rare coin?
You can sell your rare coin through auction houses like Heritage Auctions or online platforms like eBay. Make sure to have it graded for maximum value.
What is the best way to grade a coin?
Use third-party services like NGC or PCGS. They offer professional grading, which helps increase the coin’s value and credibility.