On February 15, the Professional Coin Grading Service (PCGS) updated its list of the “Million Dollar Coin Club,” which features U.S. coins, pre-Federal pieces, and patterns each valued at over $1 million. This list, introduced a year earlier, highlights rare and valuable coins like the famous 1804 silver dollars, the unique 1913 Liberty Head Nickels, and more. In this article, we will explore the significance of this club, the most valuable coins, and some unique cases that deserve recognition.
What is the PCGS Million Dollar Coin Club?
The PCGS Million Dollar Coin Club is a collection of U.S. coins and patterns valued at more than $1 million each. Some coins have never been sold for that much, while others may never sell again. The coins included in this club reflect their historical importance and the culture of coin collecting.
Key Highlights of the Club
- Total Coins: There are 101 specific coin issues and 235 individual coins in the club.
- Ownership: Out of these, 193 coins are privately held, while the rest are in museums, primarily the Smithsonian.
Expert Insights
Laura Sperber, a panel member for PCGS, emphasized that the values listed are based on available data, stating that while some coins may fetch higher prices, others might sell for less.
The Most Valuable Coins and Patterns
The club’s most valuable pieces are predominantly gold patterns. The estimated value of these coins ranges from $8.5 million to $20 million each. Notable mentions include:
| Coin Name | Estimated Value |
|---|---|
| Unique $20 Gold Pattern (1907) | $15 million |
| Eliasberg 1822 Half Eagle ($5) | $6 million |
| Carter-Contursi 1794 Dollar | $7.85 million |
Unique Features of the Unique $20 Gold Pattern
The unique $20 gold pattern from 1907 is highly distinctive due to its design, which features “LIBERTY” prominently placed in a unique spot. This unique design increases its desirability among collectors, contributing to its high valuation.
Noteworthy U.S. Coins: The 1913 Liberty Head Nickels
Among the most famous U.S. coins, the 1913 Liberty Head Nickel stands out. Only five of these coins exist, and their values are estimated as follows:
| Coin Owner | PCGS Grade | Estimated Value |
|---|---|---|
| Eliasberg | 66 | $4.5 million |
| Olsen-Hawn | 64 | $3.75 million |
| Walton | 63 | $3 million |
| Norweb-Smithsonian | 62 | $2.5 million |
| Bebee-ANA Museum | 55 | $2 million |
Auction History
In 2010, the Olsen-Hawn nickel was auctioned for $3.7 million, surprising many experts who believed it would fetch less. This demonstrates how demand can influence coin values unexpectedly.
Unique 1797 Half Eagles: A Missed Opportunity
The PCGS Million Dollar Coin Club does not include two unique 1797 Half Eagles, which are believed to be the only known examples of their kind. Each coin features distinct designs and attributes that make them significant in the world of coin collecting.
Importance of Unique Coins
- Survivorship: These unique coins are irreplaceable, adding historical value to the collection.
- Market Value: If auctioned, they would likely exceed $1 million in value due to their uniqueness and historical significance.
Conclusion
The PCGS Million Dollar Coin Club serves as a vital resource for collectors and enthusiasts alike, highlighting some of the rarest and most valuable U.S. coins. As collectors continue to explore the world of rare coins, understanding the significance of these pieces helps foster a deeper appreciation for the hobby. With unique coins and remarkable histories, the Million Dollar Coin Club reflects the rich culture of coin collecting.
In summary, the Million Dollar Coin Club is not just about high prices; it also represents the passion and tradition behind coin collecting. Coins like the 1913 Liberty Head Nickel and the unique 1797 Half Eagles are perfect examples of how history and value intersect in this fascinating world.
FAQ’s
What is the PCGS Million Dollar Coin Club?
The PCGS Million Dollar Coin Club is a collection of U.S. coins valued at over $1 million, highlighting rare and historically significant pieces.
ow many coins are in the Million Dollar Coin Club?
There are 101 specific coin issues and 235 individual coins in the club, with many being privately held.
What are some of the most valuable coins in the club?
Some valuable coins include the unique $20 gold pattern from 1907, the Eliasberg 1822 Half Eagle, and the 1913 Liberty Head Nickels.
Why are some coins not included in the club?
Some unique coins, like the 1797 Half Eagles, are not included despite their high potential value, possibly due to oversight.
How does the value of coins in the club get determined?
The value is assessed by expert panels based on market data, historical significance, and collector demand.