There are many reasons why a penny on the wrong planchet could be valuable. One of the most common reasons is that the coin was struck on the wrong planchet and subsequently did not strike properly. This type of mistake is also known as a transitional error, and some of the more famous examples have been auctioned for over $100,000. In this article, we’ll look at a few of the most common reasons for this type of mistake.
The 1943 Lincoln cent was struck in the wrong composition. Due to a shortage of copper, the U.S. Mint decided to switch to steel cents during World War II. The switch was made to conserve the supply of copper and zinc. More than a billion steel cents were struck during this time, but this error only occurred on a small number of these coins. Nonetheless, a well-worn piece of a 1943 steel penny can fetch over $1 million.
A common cause of wrong-planchet errors is that the composition of coins changes during minting. Changes in the composition, alloy, and plating of coins make it more likely for this mistake to occur. As a result, coins struck on the wrong planchet can become highly valuable as collectors’ items. This problem occurs when a mint changes its dies from one year to the next. The mistake can occur with coins of a different composition than the year before.
Other common errors include coins struck on the wrong planchet. A penny struck on the wrong planchet will look like a mule, and a nickel on the wrong planchet will look like an obverse error. It’s also possible to get a mule coin with a dime or quarter. A mule is rarer, and a mule is a coin struck between two dies that were never intended to be used together.
A blank planchet is another common mistake. A penny with no rim is an error coin. However, this doesn’t mean that the coin hasn’t been struck at all. In some cases, the penny on a dime planchet might look like a nickel. But a quarter-sized coin could also be a blank planchet. While it may not be visible, a blank planchet can still be worth a few dollars.
Unlike a nickel, an American penny with a broad-struck design is rarer and more valuable than a standard coin. A penny with this type of mistake is worth anywhere from $9 to $25, depending on the condition of the design. You can even find some with the fading design, which can fetch you as much as $25. These coins are made of metal strips, and a penny can have a curved-clipped nickel.
Fortunately, there is a solution. The wrong-metal issue is another common problem. The same mistake can happen when striking a dime. If the penny strikes on a copper-core, then it is an off-metal mistake. The mistake will cause the coin to not strike correctly. It’s possible to save a penny on a wrong-planchet by identifying the planchet error.
There are many different materials that can be used for a coin, but the U.S. Mint has made several experiments and has settled on copper-plated zinc for the Lincoln penny in 1982. A bronze cent graded PCGS Secure About Uncirculated 58 by Certified Acceptance Corp. is also one of only 10 to 12 examples stamped on the composition from 1909 to 1942. A Roosevelt dime struck on a 6-penny nail is also a rare type of coin.
Depending on the year, the incorrect-metal coin may be valuable to collectors. A cent struck on a dime planchet could be worth up to $400, while a 1983 cent on a 95% copper planchet can fetch upwards of $18,000. The value of an incorrect-metal coin depends on its rarity, the type of coin, the denomination, and planchet alloy. The more rare the coin, the greater its value.