Expert: Ronald Fern - 9/9/2010

Question
I have a 1950 wheat penny. I am having a hard time researching what it could be worth. It is very thin, as if the thick edge is gone. The penny itself is smooth and smaller than other wheat pennies. It doesn't seem to be worn, so I was wondering if it was a misprint. Any information you can give me is greatly appreciated!

Answer
Hi Sarah:

Thanks for your question.

It's always a good idea to provide as much information and a photo, if possible, especially when asking questions about errors. I'll try and answer as best I can, but if you want to ask a follow up question by providing more information, I'll revise or add to my answer.

There's a strong chance you may have a coin altered outside the mint. They are called "acid treated" coins, and I've seen them on both Indian and Lincoln cents. These look the same on both sides, are slightly smaller in diameter than the normal coins, and the lettering, numbers and design is also a bit smaller or thinner than normal. These can be considered novelty items, but are not errors and worth no more than a few dollars at most to an interested collector.

Sometimes people try and fool you into thinking you have a real error coin. There are other examples of coins either being altered or damaged.
See link: http://coinauctionshelp.com/page15.html
See link: http://conecaonline.org/content/OhNo.htm

If you have a real "thin cent" mint error, it would have to be the same diameter. The detail would not be strong on the entire coin. The mint presses are set to strike planchets of the correct thickness, so a thin planchet would not be fully struck. It could be a split before striking error, but one side would have the striation lines from the splitting evident. If your coin is a real error of this type, it would have a retail value of between $10 to $25 to an interested error collector.

If you live close to a local shop, they should offer an opinion as to the value at no charge. Always try and get at least two opinions and try and deal with PNG dealers if possible. If you should decide to sell your coin to a dealer, remember they will offer about 50% to 60% of the retail value. Here's a link to find one in your area: http://www.pngdealers.com/dealersearch.php

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Thank You and Good Luck in your collecting.