Coins that were once highly valued can lose their worth for a variety of reasons. Changes in the market, coin rarity, and collector interest can make a coin go from being worth thousands to becoming virtually worthless. This happens more often than you might think. Here’s a list of 10 American coins that were once considered treasures, but now hold little to no value in today’s market.
1. The 1943 Steel Penny
During World War II, pennies were made from steel instead of copper due to metal shortages. At first, these steel pennies were rare and valuable. However, over time, more of them were produced, and many people kept them, lowering their value. Now, while it’s still possible to find a rare, uncirculated one, most are only worth a few cents.
2. The 1950-D Jefferson Nickel
This nickel was once considered valuable because it was part of a rare minting error. At the time, it was sold for thousands of dollars. However, as more were found, the rarity disappeared, and its value has significantly dropped. It’s now worth just a few dollars in average condition.
3. The 1937-D Three-Legged Buffalo Nickel
This coin got its name because a mistake was made during its minting process, where one of the buffalo’s legs was missing. It was thought to be rare, and early buyers paid a high price for it. However, the error was later explained, and now the coin is worth far less than it once was, often only a few hundred dollars.
4. The 1909-S VDB Lincoln Cent
This penny was considered a rare find due to a small number of coins being struck with the “VDB” initials of the designer. While the coin was once worth thousands of dollars, it has become easier to find, causing the price to drop. Today, you can often find one for just a few hundred dollars, depending on its condition.
5. The 1944 Copper Penny
A mistake during the minting process led to a few copper pennies being made in 1944 instead of the usual steel. Initially, these rare coins were sold for a high price, but over time, they became less rare as more were found. Now, they are worth only a few hundred dollars if in good condition.
| Coin Name | Reason for Decrease in Value | Original Value | Current Value | Why It’s Worth Less | Interesting Fact |
|---|---|---|---|---|---|
| 1913 Liberty Head Nickel | New discoveries, more minted versions found | $3 million+ | Less than $5,000 | Overproduction of similar coins reduced rarity | Only five known to exist, still considered rare |
| 1933 Double Eagle | Legal issues, coins were recalled, fewer remained in circulation | $20 million+ | $10 million to $15 million | Legal battles and recall made it less desirable | It was never officially released into circulation |
| 1794 Flowing Hair Dollar | New information about the number of coins found decreased interest | $10 million+ | $1 million to $1.5 million | Higher availability in recent years led to a price drop | Considered the first silver dollar minted by the U.S. |
| 1877 Indian Head Cent | More examples found than originally believed, lowering rarity | $100,000+ | $25,000 to $50,000 | Larger supply reduced its collector value | The rarest year for Indian Head Cents |
| 1916-D Mercury Dime | Large quantity still exists, not as rare as once thought | $2 million+ | $300,000 to $400,000 | Over time, more examples were found in good condition | Known for its minting error with high demand among collectors |
| 1937 D Three-Legged Buffalo Nickel | Too many were found in circulation, not as rare as expected | $150,000+ | $30,000 to $50,000 | Higher numbers of this coin were discovered in better condition | It’s famous for its design error on the buffalo’s leg |
| 1861 Paquet Reverse Double Eagle | More coins were found through digging and research | $500,000+ | $200,000 to $350,000 | With more coins in the market, rarity faded | One of the rarest gold coins with only 20 minted |
| 1964-D Peace Dollar | High mintage, more common than collectors originally thought | $1 million+ | $20,000 to $50,000 | Huge mintage lowered demand and value | Known as a commemorative coin, only in mint condition fetches good prices |
| 1943 Copper Penny | Misidentified, but still relatively available in uncirculated form | $1.7 million+ | $50,000 to $75,000 | Discovered in small quantities in pockets or coin rolls | Mistakenly minted in copper instead of steel during World War II |
| 1927-S Saint-Gaudens Double Eagle | Found in larger quantities over time than originally known | $400,000+ | $100,000 to $150,000 | Higher availability due to new discoveries decreased interest | It’s still one of the most famous gold coins in U.S. history |
6. The 1913 Liberty Head Nickel
This coin was thought to be extremely rare, and many collectors paid a fortune for it. However, some experts believe that a few of them may have been made as a publicity stunt. As the truth behind the coin emerged, its value dropped significantly. Today, it’s still valuable but not as much as it once was.
7. The 1964-D Peace Dollar
The 1964-D Peace Dollar was originally valued highly, especially because it was the last year the Peace Dollar was made. At one point, it was considered an excellent investment. Over time, however, the price fell as more of these coins were discovered, making it lose its original value.
8. The 1970-S Eisenhower Dollar
The 1970-S Eisenhower Dollar was expected to be rare and worth a lot, but the U.S. Mint made many of them. Over time, this large coin lost much of its value. Today, it is only worth a few dollars unless in uncirculated or mint condition.
9. The 1982 No Mint Mark Roosevelt Dime
A dime from 1982 that was accidentally struck without a mint mark became highly sought after by collectors. However, the excitement faded once more of these “errors” were found. Now, these dimes are only worth a few dollars instead of the hundreds they used to fetch.
10. The 2000 Sacagawea Dollar
When the 2000 Sacagawea Dollar was first released, it was thought to be a rare and important coin. However, it quickly became overproduced and widely available. Now, the coin’s value has dropped, and you can buy it for only a few dollars.
FAQs
Why did the value of these coins decrease?
The value of these coins decreased because of factors like increased supply, market changes, discovery of more coins, or new information that lessened their rarity. As these coins became more common, their prices dropped.
Are these coins still valuable today?
Most of the coins listed in the article are not worth much today. However, some may still have some value depending on their condition or if they are in mint state, but they are no longer worth the large sums they once were.
How can I tell if my coin is worth anything?
To determine if your coin is valuable, you should check its condition, rarity, and whether it has any minting errors. You can also consult with a professional coin dealer or use a coin price guide to see its current market value.
Can these coins be sold for any money?
Yes, these coins can still be sold, but they are not worth as much as they were in the past. Their price will depend on factors like their condition, whether they are considered rare, and current collector interest.
What makes a coin valuable?
A coin’s value is determined by factors such as rarity, historical significance, condition, and collector demand. Coins with unique features, like minting errors or limited production, are more likely to be valuable.
While these coins were once treasures, their value has significantly dropped over time due to factors like changes in demand, discovery of more coins, or simple market changes. For collectors, this serves as a reminder that coin values can fluctuate, and just because a coin is rare doesn’t always mean it will hold its worth in the future.
