Coin collecting has been a popular hobby for a long time. Collectors now seek rare and error coins for potential profit. However, Not all rare coins appreciate equally.SD Bullion, a gold and silver trader, produced a list of the most valuable American error coins (sometimes called “mis-strikes”) and analyzed eBay auctions dating back to January 2023 to determine which one is currently the most valued.

SD Bullion, a gold and silver trader, produced a list of the most valuable American error coins (sometimes called “mis-strikes”) and analyzed eBay auctions dating back to January 2023 to determine which one is currently the most valued. The following error coins made the list.

1. Three Legs Buffalo Nickel

Struck in 1937, this coin's reverse depicts a crippled buffalo. Possible cause: a flawed reverse die during minting. One of these coins went for $7,400 in February 2023 on eBay. At the moment, the highest price ever paid at a private auction is $99,875.

2. Mercury Dime

The most famous error coin for the 1942 Mercury dime is the “1942/1 Overdate” variety. This variety was created when a 1941 die was mistakenly used to strike a small number of 1942 dimes. The result was that the digit “1” from the previous year's date was still visible beneath the “2” in the date on the coin, creating a noticeable overdate error. An eBay listing for this coin on January 29, 2023, was found for $3,990. And in 2018, a highly graded sample sold for $120,000.

3. DDO Lincoln Cent

The Double Die Observe, or D.D. Obverse Lincoln Cent is a well-known error coin produced in 1955. During the minting process, a misalignment caused the image on the die to be duplicated, giving the obverse of the coin a distinctive “double image” effect. Numerous collectors are interested in this iconic rare coin.

In flawless condition, the value of this coin exceeds $125,000.

4. DDR Buffalo Nickel

The record auction price for this coin was $104,650 in 2007, and a recent eBay sale on March 15, 2023, for $2,504. The Double Die Reverse (DDR) is one of the most renowned defective coins for the 1935 Buffalo Nickel.

This error occurs when a portion of the design on the master hub is duplicated on the primary die used to strike the coins. The duplication appears on coins struck with this die.

5. Silver Washington Quarter

When searching for and collecting Washington Quarters, there are several common mistakes and critical dates to look for. Some Silver Washington Quarters were struck in 1964 on too-thin planchets, resulting in substantially lighter-than-normal weight coins. In 2012, one of these coins sold for $12,650.

In January 2023, a listing on eBay went for $2,505, although their average value is between $5,000 and $9,000 each.

6. “No D” Lincoln Cent

The 1922 No D Lincoln cent error coin was produced when the Denver Mint used two dies to create pennies. All Denver pennies should bear the “D” mint mark. However, the missing detail that makes it worth $1,977 (on eBay in February 2023) is the lack of a “D” stamp on the 1922 cent—an example of this coin sold for $92,000 in 2008.

7. Extra Leaf Wisconsin State Quarter

The 2004-D Wisconsin Extra Leaf Quarters are the only major varieties in the Statehood Quarters Program. There were two different varieties discovered for the “Wisconsin Extra Leaf Quarters.” One is the “Low Leaf” variety, the most common. The second variety is the “High Leaf” variety, the scarcer of the two.

Both have an extra husk on the left side of the corn, which is not visible on regular Wisconsin quarters.

An example of a low extra leaf sold on eBay for$1,650 in March 2023.

8. Doubleddie Obverse Quarter Minted

The motto “In God, We Trust” is doubled on this 1943 error coin due to a die malfunction. The Doubled Die Obverse Quarter sold for $1,550 on eBay in January 2023. However, a variation of this coin in mint condition can sell for up to $20,000 at private auctions.

9. Unfinished Proof Dies Gold Eagle

In 1999, the U.S. Mint made a mistake by producing the first Mint State $5 and $10 Gold Eagles bearing a “W” mint mark. Specifically, the Unfinished Proof Dies Gold Eagle results from a proof die variety used in regular bullion blanks. A recent listing for this error coin went for $1,499.99 in March 2023.

10. Wounded Eagle Sacagawea

The raised die fault that cuts across the eagle's belly on the 2000-P “Wounded Eagle” Sacagawea Dollar inspired the coin's nickname. A worn die at the mint was to blame for this misprint, resulting in a poorly struck coin area.

PCGS estimates a mint state Wounded Eagle Sacagawea Dollar worth $5,000—however, a similar coin sold for only $699.95 on eBay on February 16, 2023.

Why People Collect Coins

Anton A. Bogdanov is an Appraiser and Sr. Editor at auction platform EBTH, Inc. and runs a private practice specializing in alternative asset investments. Bogdanov explains that flaws in the minting procedure characterize error coins, the thing that makes them collectible-worthy. 

The collector can better understand coin production equipment and processes by examining what could go wrong.

“They learn “how the sausage is made,” sort-to-speak, Bogdanov states.

A Coin's Error Is Not Always Tied to Its Value

According to Bogdanov, contrary to popular belief outside of the hobby, errors are only sometimes valuable. Error characteristics, such as off-center strikes and lamination, may not always increase the value of a contemporary coin.

It depends on the demand for the error variant, the severity of the error, the coin type, the dates, and the mintmarks. It all comes down to demand for the error variety, the severity of that error, coin type, dates, and mintmarks.

“What percentage off-center?” is a question you might run into,” Bogdanove says.

This clarifies why the renowned 1955 Doubled Die Obverse (DDO) Lincoln Cent continues to fetch exorbitant fees at auction. While prominent error types, such as a “blank planchet” cent, may be purchased for less than a cup of coffee.

Moreover, a spokesperson for SD Bullion notes that the older a coin is, the higher its value. However, suppose a design has a limited mintage, such as the state quarters in 2004.

In that case, this can also enhance the value of any discovered error coins.