Did you know that there is a 1 cent coin that is worth almost 7,000? But only if it has a minting error.
Check your piggy bank, because this rare 1 cent euro coin is worth almost 7,000.
Over time, especially since the birth of the single currency in 199, the countries participating in the euro area have minted different models with different denominations. And because the designs have changed over the years, also due to some minting errors, some coins have become extremely rare.
Today, enthusiasts are desperate to find some of these rare coins and are willing to pay very high prices to add them to their collection.
In this case, we are talking about the 1 cent euro coin featuring the Mole Antonelliana, rather than Castel del Monte - one of the most sought-after (and valuable) pieces in today’s rare euro coin collecting.
This minting error, which occurred in 2002, has given this coin a certain rarity, with around a hundred examples estimated to be in circulation.
It is precisely the rarity and uniqueness of this piece that have pushed its value skyrocketing: in 2013, one of these coins was sold at auction for 6,600 euros.
The 1 cent coin worth almost 7,000 euros
The 1 cent coin with the Mole Antonelliana has become an object of great desire among collectors.
Although the initial value was a few thousand euros, the competition at the auction meant that the final price touched 6,600 euros, an increase of 164% compared to the starting price.
What’s behind the minting error
The error occurred when some 1 cent coins were mistakenly minted with the image of the Mole Antonelliana, which should only be present on the 2 cent coins. The discovery was made by Bolaffi, one of the main Italian numismatic companies, who noticed this inconsistency within some coin sets entrusted to them.
The Guardia di Finanza immediately seized six kits containing these coins to investigate the matter, eventually leading to a legal dispute between Bolaffi and the Mint Museum.
In 2013, the judge’s ruling 1278/13 legitimized Bolaffi’s ownership, allowing the company to auction the rare coin specimens.
Its maximum value was in fact reached during an auction by Bolaffi itself on May 23, 2013.
The opening price of the auction was 2,500 euros. The company, at the time, announced that several collectors challenged each other with bids to obtain the rare coin, which is why the final price was 164% higher than the base price.
«It is a result that exceeds our expectations – declared at the time Giulio Filippo Bolaffi, CEO of the Bolaffi Group. «It is still a very “young” coin, and this first time at auction represents an important precedent for establishing its collector value. We do not exclude that after this result there may be the latest reports of those “skeptical” owners who, despite having found it way back in 2002, have kept it hidden until now, and who now, after this exploit, may be intent on selling it».
Beware of fakes
Due to its rarity, this coin is particularly subject to counterfeiting.
There are many counterfeits circulating, especially online, and for this reason it is advisable to pay the utmost attention when buying or selling a coin with this particularity.
The limited number of authentic examples makes it essential to contact experts in the sector to verify the authenticity of the piece.
Original article published on Money.it Italy 2024-12-27 12:56:25. Original title: Questa moneta da 1 centesimo di euro vale quasi €7.000
