The next time you're in the checkout aisle at a store, take a look at people in line paying cash. I'll wager you'll see that most people don't take the time to see what they're dong. Without exception, they pull paper money from their billfold and toss change on the counter. Other than checking the denominations they don't give coins a second glance. Why should they? After all, a penny's a penny, and a dime's a dime. How much can they be worth? It depends on how much time you take to look.
Not so long ago, people would go to local banks, buy rolls of coins and look through them to find scarce dates or mintmarks or even an occasional anomaly — a coin that just didn't look right. Maybe the advent of video games and other distractions has changed that. Still, some do take the time to check their change. More often than not nothing unusual surfaces. But, every now and then …
Recently, someone took a closer look at one of their pennies and noticed something amiss. On the reverse, instead of the familiar Lincoln Memorial design was that of the torch found on the back of a common Roosevelt dime. A penny on one side and a dime on the reverse. What could that be worth — 11 cents? Try $200,000.
The coin is called a "mule" and it's created when the die of one denomination is accidentally struck onto the side of another. It happens very rarely, but with over 7 billion pennies and three billion dimes struck each year it can. For those who spot them, the payoff is big.
The same is true for an even more subtle variety. Frequently found in today's change are pennies from 1969.
The majority was fine. But, apparently some of the minting machinery got out of tune. A few of the cents were double struck, creating a blurring of the "1969" date and "In God We Trust." It's subtle, but collectors took notice of the "double die" effect. Similar to the mule coins the value of those cents skyrocketed to $12,000 to $25,000 depending on their condition. That's a new car or college tuition. Here's the best part. Invariably some are still out there — waiting to be found by someone who takes the time to look a little more closely than others in the checkout aisle.
Time was, if you inadvertently offered a cashier a Canadian coin, they'd say, "We don't accept those." That may soon change if it hasn't already. Just last week, U.S. dollars were worth only 98 cents compared to those of Canada.
The new 2009 edition of the Scott Stamp Catalog accentuates the weakness of the U.S. dollar in Canada and around the world. Over 4,600 price changes in prices for scarce & rare U.S. stamps are listed, as are over 23,000 changes for stamps from the British Commonwealth.
It's all evidence that eager buyers abroad have more spending power to purchase collectibles. For more information on the updated catalog log on to: www.amosadvantage.com.
Editor's Note: A JPEG visual of one of a $200,000 penny/dime mule coin is being sent for your use with this column.)
To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.
COPYRIGHT 2007 CREATORS SYNDICATE, INC.
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