Expert: PAPAJACK - 12/7/2008

Question
Mr. Moore,

I recently came across a penny that was dated in 1987 and has a present/gift box engraved on it. I included a few pictures:

http://img.photobucket.com/albums/v701/femmina/back.jpg

http://img.photobucket.com/albums/v701/femmina/front-2.jpg

I was wondering what the story behind it is (especially the present imprint/engravement) and if it has any monetary value. Thank yo for your time and I hope to hear from you soon.

Sincerely,

Emily Ceskavich

Answer


Hello Emily,                                       

This is not Mr. Moore, I was referred your question by all experts.com team.

These items sell for a dollar or less.
I have seen these items before. These are real US cents that have been altered. The coins are just a novelty made with a regular cent and re-stamped with another machine after it left the U.S. Mint.
Unfortunately this has very little value to a coin collector. Coin collectors want pristine unadulterated coins for their collection.

I do come across them occasionally at coin shows. I know of no one currently selling or producing the coin at this time. I have some dealers telling me it was mad money and good luck pieces given to someone so they would never be penniless (broke) I did not find out what company altered the coins.

There is no added collector value to it since it was modified by a private entity after it left the mint. They were made as a novelty

I saw a lot of them made with the outline of states with initials in the 1970's one for each state for placement in a penny board.

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Thank You and Good Luck

PapaJack