For a rare coin to be worth more than its usual number, its metal must be precious or base. The intrinsic value of precious metals like gold, silver, and platinum makes them more valuable as coins. The American Eagle gold bullion coin can fetch $4,000 or more.
If base metals like copper or nickel become more valued, their coins can too. Due to a minting error, the 1943 Copper Lincoln Cent is made of copper and is worth between $240,000 and $336,000, while the 1943-D copper penny is in a long-term collection and worth over $1 million.
The age of an antique coin affects its value. Each day makes older coins harder to locate in good condition. The 1794 Flowing Hair Silver Dollar, one of the original US silver dollars, sold for nearly $10 million in 2013. One is currently selling on eBay for $220,500.
Coins struck during specific historical periods or events might have added value since they provide insight into the past and may be scarce. Old coins are harder to find in perfect condition, increasing their rarity.
A limited edition of anything will cost more owing to scarcity. Coins require a different evaluating process. Commemorative coins have specific meaning, which limits their design. Some useful examples:
2009 Ultra High Relief Double Eagle: Limited-edition gold coins designed by Augustus Saint-Gaudens can fetch over $3,000. Liberty Head Nickel 1913: Due of its rare design and artistic attributes, this is worth approximately $4 million. Only five copies are known.
Perfection doesn't always cost more. In fact, a coin's design defect often increases its worth. The 1955 Double Die Lincoln cent, with its picture doubled, is valued $1,000 to $85,000.