Expert: Ronald Fern - 11/21/2009

Question
Hello, I recently made a purchase of over 10,000 Pennies From 1859 to present and discovered a 1934 wheat cent that is that is a silver color. I tested it w/ a magnet and I don't think it is steel. It Is in really nice condition. Could it be a electroplate of some sort or possibly nickel? It is not a reproduction or copy. I am not a collector and purchased the large lot to sell seperately and in smaller lots on Ebay. Thanks for your time, JOHN

Answer
Hi John:

The first thing to do would be to compare your coin to a normal coin in the same group. Look at the diameter, thickness, and weigh the two coins, if possible. A plated coin would weigh slightly more. If it is smaller, thinner, and weighs less, it could be struck on a planchet intended for a different denomination and/or country. Where you say it is silver, the first thing that comes to mind would be a dime. If it is the same or close to same size as the dime and weighs the same as a dime, then there's a strong chance that is what you have. A dime blank could have some how got mixed up with the cent blanks and then struck.

If authentic, this coin would have a value of about $500 to $1500, depending on condition, to an interested error collector. You should consider getting the piece professionally graded and put into a graded holder. This would give you the best price when and if you decide to sell it.

Get at least two opinions as to the value of the piece from coin dealers who are members of both the ANA, (American Numismatic Association), and PNG, (Professional Numismatic Guild). To find a local PNG dealer go to this link: http://www.pngdealers.com/

You may want to check eBay listings in the error category under US coins from time to time to see if coins like yours are listed and what they are going for. You may also want to check out these links on error coin values:
http://www.coinsite.com/html/USErrorPrices.asp
http://www.minterrornews.com/priceguide.html

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Thank You and Good Luck in your collecting.