In 2020, the United States Mint produced billions of Lincoln pennies, each bearing the familiar image of President Abraham Lincoln on the obverse and the Union Shield on the reverse. While most of these coins hold a face value of one cent, certain 2020 pennies have garnered the attention of collectors and enthusiasts, fetching prices exceeding a dollar. This surge in value is primarily attributed to specific minting errors and unique varieties that make these coins rare and desirable.
The 2020 Lincoln Shield Cent: An Overview
The 2020 Lincoln Shield cent continues the design introduced in 2010, featuring the Union Shield on the reverse to symbolize President Lincoln’s preservation of the United States as a single country. The obverse maintains the classic portrait of Lincoln, a staple since 1909. While the majority of these pennies are commonplace, certain errors during the minting process have resulted in coins that stand out to collectors.
Notable 2020 Penny Errors and Varieties
Several errors and varieties have been identified in the 2020 Lincoln pennies, contributing to their increased value:
Die Crack Errors:
Die cracks occur when a die used to strike coins develops fractures, leading to raised lines or irregularities on the coin’s surface. Given the high production volume in 2020, die wear was inevitable, resulting in numerous die crack errors. A notable example is the “crying eye” die crack, where a line appears to extend from Lincoln’s eye, resembling a tear. Such coins in circulated condition have been valued between $35 and $39, with uncirculated specimens potentially fetching higher prices.
Doubled Die Errors:
Doubled die errors arise when the coin’s design is duplicated slightly offset during the hubbing process, leading to noticeable doubling in certain areas. For 2020 pennies, minor doubled die errors have been observed, particularly in the date, lettering, Lincoln’s tie, eye, and the lines of the shield. While no major doubled die errors from 2020 have been reported, minor ones can still command values between $25 and $50, depending on their prominence and coin condition.
Feeder Finger Errors:
These errors occur when the mechanical components that feed blanks into the coining press malfunction, causing scratches or gouges on the coin’s surface. Some 2020-D (Denver mint) pennies exhibit such errors, making them intriguing to collectors.
Factors Influencing the Value of Error Coins
The value of a 2020 penny with errors depends on several factors:
- Condition: Coins in mint state or uncirculated condition without wear fetch higher prices.
- Rarity: The scarcity of the specific error influences its value; rarer errors are more sought after.
- Demand: Collector interest in a particular error type can drive up prices.
- Certification: Coins authenticated and graded by professional services often command premiums due to verified authenticity and condition.
While the 2020 Lincoln Shield cent is a common coin in everyday transactions, certain minting errors have elevated the value of specific specimens. Collectors and enthusiasts are keen to identify these anomalies, transforming ordinary pennies into valuable collectibles. Whether it’s a die crack, doubled die, or feeder finger error, these imperfections offer a glimpse into the intricate and sometimes unpredictable process of coin minting, providing both historical insight and potential financial reward.
FAQ’s:
How can I identify a die crack error on a 2020 penny?
Examine the coin under magnification, looking for raised lines or irregularities on the surface, especially near Lincoln’s eye or other prominent features.
What should I do if I find a 2020 penny with a potential error?
Consult a reputable coin dealer or submit the coin to a professional grading service for authentication and valuation.
Are all 2020 penny errors valuable?
Not all errors are significant; minor imperfections may not add value. The prominence and rarity of the error determine its worth.
Where can I sell a 2020 error penny?
You can sell error coins through coin dealers, online marketplaces, or at coin shows, ensuring you deal with reputable buyers.
