Pennies are often overlooked in the world of collectible coins, but some can be worth more than you’d imagine. One such coin is the 1970-S Small Date Penny, a rare variation that has become a hidden treasure for collectors. Recently, some of these pennies have sold for up to $20,000! What makes this coin so valuable, and how can you spot one in your collection? Let’s dive into the details.
What Is the 1970-S Small Date Penny?
The 1970-S penny was minted in San Francisco, and it comes in two main varieties: Large Date and Small Date. The Small Date version is rarer and, therefore, more valuable. It is distinguished by the smaller size of the date and unique placement of the numbers. Additionally, certain minting errors or conditions can further increase the value of these coins.
Key Features of the Small Date Penny:
- The “7” in the date is level with the “0” and “1.”
- The “LIBERTY” inscription appears weak or faint.
- The top of the “9” is pointed and does not curl as much as in the Large Date variety.
Why Is the 1970-S Small Date Penny Valuable?
The rarity of the Small Date variety contributes to its value. Moreover, high-grade versions of this coin or those with unique mint errors can command premium prices. Collectors prize this coin due to its scarcity and historical significance.
Record-Breaking Sale
In auctions, the 1970-S Small Date Penny in perfect mint-state condition has fetched up to $20,000. Coins graded MS67 or higher by professional services like PCGS or NGC are particularly desirable.
Grading and Value of the 1970-S Small Date Penny
The value of the 1970-S Small Date Penny depends on its condition (grade) and any errors it may have. Below is a table summarizing its estimated value based on grade:
| Grade | Description | Estimated Value |
|---|---|---|
| MS65+ | Uncirculated, brilliant condition | $2,000-$5,000 |
| MS67+ | High-grade uncirculated | $10,000-$20,000 |
| Circulated (VG to AU) | Visible wear and tear | $50-$100 |
| Error Coin (e.g., doubled die) | Features mint errors | $10,000-$20,000+ |
How to Identify the 1970-S Small Date Penny
Identifying the Small Date penny requires careful inspection. Here are some tips to help you spot this valuable coin:
- Use Magnification: A magnifying glass or loupe will help you observe the subtle differences in the date and lettering.
- Compare With a Large Date Penny: Place a Large Date penny next to the suspected Small Date to see the differences.
- Look for Weak “LIBERTY”: The inscription “LIBERTY” should appear faint compared to other coins.
- Seek Professional Grading: If you believe you have a Small Date penny, send it to a grading service like PCGS or NGC for authentication.
Common Mint Errors That Add Value
Apart from the Small Date variation, certain errors can further increase the penny’s worth:
- Double Die Obverse: Doubling on the inscriptions or date is highly sought after.
- Off-Center Strikes: A misaligned design can make the coin a rarity.
- Repunched Mint Mark (RPM): If the “S” mint mark appears to have been punched multiple times, it adds to the value.
Where to Sell the 1970-S Small Date Penny
If you’ve identified a valuable 1970-S Small Date Penny, here’s where you can sell it:
- Online Auctions: Platforms like eBay or Heritage Auctions are popular for selling rare coins.
- Coin Dealers: Visit a reputable dealer for an appraisal.
- Coin Shows: Meet collectors and enthusiasts willing to pay a premium.
Conclusion
The 1970-S Small Date Penny is a hidden gem that could be sitting unnoticed in your collection. Its rarity, combined with mint errors and high-grade conditions, makes it a prized collectible worth up to $20,000. By knowing what to look for and where to sell, you could turn a simple penny into a significant payday!
FAQs
What is the 1970-S Small Date Penny?
It is a rare variation of the 1970-S penny, characterized by a smaller date and faint “LIBERTY” inscription.
How much is a 1970-S Small Date Penny worth?
Depending on its grade and condition, it can range from $50 to $20,000 or more.
How do I know if I have a Small Date penny?
Look for a smaller “7” that aligns with the “0” and “1” and inspect the faint “LIBERTY” inscription.
What errors make this penny more valuable?
Errors like double die obverse, off-center strikes, or repunched mint marks can significantly increase its value.
Should I get my coin graded?
Yes, professional grading authenticates its condition and can boost its market value.