Special Report: Cashing In
This piece of currency may appear to be pocket change, but it's actually worth a lot more than just a few pennies.
"I started buying at banks, especially those in gum ball machines, those were the best," Owner of Gables Coin and Stamp Shop John Albright said.
Albright is a pro ‘penny pincher.’ That's why he decided to spin his favorite hobby of coin collecting into a lucrative career. He says rare coins don't have to be old.
"There's modern coins that have quite a lot of value," Albright said.
Check out this Lincoln from 1998. Look closely and you'll see on the back, the A and M in America are slightly separated. In a normal penny, the letters should be touching, but this error can make the value between $30-$300.
"Tiny little spacing, tiny little difference, but definitely makes the difference in the value of the coin," coin trader Joe Labarbera said.
Labarbera says another moneymaker is the double strike, an error that happens when the coin is stamped twice. On one 1955 penny you can see the date is clearly printed twice.
"There are some that are more doubled that others, and the ones that have the stronger doubling is actually worth more," Labarbera said.
But pennies aren't the only lucky ones. There is value with the silver and green.
One 2004 Wisconsin State quarter has become a classic for collectors. The extra husk leaf has kicked up it's value to a couple hundred dollars.
"There are things like that, if you really are astute and look, you can come across these things, and actually find something quite valuable," Labarbera said.
On one one-dollar bill, the decal was actually printed on the wrong side, making that $1 worth over $400.
"There are a multitude of different notes, ranging in all different denominations from $1 to $100 that you may find incorrect printings on," Labarbera said.
For collectors, the secret is easy: check all of your cash and your change. A hidden treasure is out there if you know where to look.
If you are wondering how money mistakes actually make into circulation, experts say the answer is easy: there's just so much being printed for the treasury can't inspect every piece of currency.
Gables Coin & Stamp Shop
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