1971 pennies worth money! 1971 Values!

Summary

In this video, Jay and B from JB Coins explore the intriguing world of the 1971 penny, particularly those minted in Philadelphia. With nearly 2 million struck, these copper coins can be valuable, especially in high grades, with one selling for $3,600. They highlight the significance of double die varieties and various error coins, including a penny struck on a 10-cent planchet, which fetched $780. Viewers are encouraged to check their change for these rare finds, as many error coins circulate unnoticed. The video invites audience engagement by asking about their own 1971 pennies.

Takeaways

• 😀 The Philadelphia Mint produced nearly 2 million 1971 pennies for circulation, made of copper and weighing 3.11 grams.
• 😀 1971 pennies do not have a mint mark, which differentiates them from some other years.
• 😀 Higher-grade 1971 pennies (over MS66) are rare, with the highest sale recorded at $3,600 for an MS67+ coin.
• 😀 The 1971 double die varieties, especially Type 1, can command significant premiums, with an MS65 version worth around $1,000.
• 😀 Some 1971 pennies are known for their errors, such as being struck on a 10-cent planchet, valued at $780.
• 😀 An obverse die cap error for a 1971 penny sold for $336, showcasing the potential value of error coins.
• 😀 Off-center strikes are another error to look for; one example sold for $109.
• 😀 Most error coins were found in circulation, so it's advisable to check your change for unusual coins.
• 😀 The video emphasizes the importance of weighing odd-looking coins to identify potential errors.
• 😀 Viewers are encouraged to engage by sharing if they own any 1971 pennies in the comments.

Q & A

What year of pennies is discussed in the video?

The video focuses on the 1971 penny struck at the Philadelphia mint.

How many 1971 pennies were struck at the Philadelphia mint?

Almost 2 million regular struck pennies were produced.

What is the composition and weight of the 1971 penny?

The 1971 penny is made of copper and should weigh 3.11 grams.

Do 1971 pennies have a mint mark?

No, 1971 pennies struck at the Philadelphia mint do not bear any mint mark.

What is the highest grade for a 1971 Lincoln cent according to the PCGS grading scale?

The highest grade is MS 70, while the highest recorded sale for a 1971 penny in MS 67+ condition was $3,600.

What is a significant feature of 1971 pennies in terms of rarity?

While many 1971 pennies exist in lower grades, those in higher grades, particularly over MS 66, are much rarer.

What types of errors can be found in 1971 pennies?

Common errors include double dies and coins struck on incorrect planchets, such as a 10 cent planchet.

What is the value of a 1971 penny struck on a 10 cent planchet?

A 1971 penny struck on a 10 cent planchet sold for $780 at auction.

What auction price did a 1971 penny with a die cap error reach?

The die cap error penny sold for $336.

Why should collectors pay attention to 1971 pennies?

Collectors should look for rare varieties and errors, as many were found in circulation, making them valuable.