Northeast Penny Hoard
A "penny hoard" refers to a large accumulation of pennies, often collected and stored over a long period. These hoards can be amassed by individuals, families, or even found in unexpected places like buried containers or forgotten storage areas. The term "hoard" generally implies a substantial quantity of coins, which can sometimes include rare or valuable specimens.
The Northeast Penny Hoard is one of the most significant and intriguing discoveries in the world of coin collecting. Here are the key details and some interesting facts about this remarkable hoard:
Northeast Penny Hoard Overview
- Discovery: The hoard was discovered in the northeastern United States, hence the name "Northeast Penny Hoard."
- Quantity: The hoard consists of approximately 1 million pennies.
- Time Period: The coins span a wide range of years, primarily focusing on Lincoln Wheat pennies (1909-1958).
- Condition: The condition of the coins varies, with many found to be in uncirculated or lightly circulated states, making the hoard particularly valuable to collectors.
Significance of the Hoard
- Historical Insight: The Northeast Penny Hoard offers a unique glimpse into the circulation and storage patterns of pennies during the first half of the 20th century.
- Variety of Coins: The hoard includes a broad spectrum of Lincoln Wheat pennies, from common dates to key dates and mint marks.
- Investment Potential: The discovery of such a large quantity of pennies in good condition has significant implications for the numismatic market, providing opportunities for both collectors and investors.
Cool Stats and Facts
- Weight: The total weight of the hoard is approximately 6,000 pounds (2,722 kg), as each penny weighs about 3.11 grams.
- Face Value: The face value of the hoard is $10,000 (1 million pennies).
- Storage: The hoard was stored in multiple containers, such as bags and boxes, and required significant space for storage and sorting.
- Rare Finds: Among the common pennies, the hoard includes rare and valuable coins like the 1909-S VDB, 1914-D, and 1922 no D pennies.
- Sorting Time: Sorting through such a large quantity of pennies is a monumental task, requiring hundreds of hours to properly catalog and grade the coins.
Other Notable Penny Hoards:
1. The Great American Penny Hoard (Steve Contursi - penny hoarder)
- Time Period: 20th century
- Quantity: Over 5 million wheat pennies
- Highlights: Steve Contursi, a well-known coin dealer, amassed over 5 million wheat pennies. His collection included many rare and valuable pennies, such as key dates and mint errors.
2. The Nevada Penny Hoard
- Time Period: Discovered in the early 2000s
- Quantity: Approximately 1 million pennies
- Highlights: This hoard was found in a storage unit in Nevada and included a wide range of Lincoln wheat pennies, many of which were in uncirculated condition. The collection was auctioned off and generated significant interest from collectors.
3. The 1909-S VDB Penny Hoard
- Time Period: Early 20th century
- Quantity: Exact number unknown, but involved several rolls
- Highlights: A hoard discovered in the 1950s included numerous 1909-S VDB pennies, one of the most sought-after Lincoln cents due to its low mintage and unique designer initials (VDB for Victor David Brenner).
4. The New York Subway Hoard
- Time Period: Mid-20th century
- Quantity: Over 1 million pennies
- Highlights: Collected by a subway token booth clerk in New York City, this hoard included many wheat pennies and was sold off in bulk.
Cool Stats and Facts:
- Weight: Large penny hoards can weigh several tons. For example, 1 million pennies weigh approximately 3,110 pounds (1,411 kg).
- Storage Space: Storing millions of pennies requires significant space. For instance, a million pennies would take up around 154 cubic feet (4.36 cubic meters).
- Value: The face value of a million pennies is $10,000. However, the numismatic value can be much higher if the hoard contains rare dates, mint errors, or coins in excellent condition.
Interesting Aspects of Penny Hoards:
- Historical Insight: Hoards often provide a snapshot of the types of coins in circulation during a specific period.
- Variety: They can include a wide variety of pennies, from common circulated coins to rare uncirculated ones.
- Treasure Hunts: Uncovering and sorting through a penny hoard can be an exciting treasure hunt, potentially revealing hidden gems.
Key Considerations for Collectors:
- Condition: The value of individual pennies in a hoard can vary widely based on their condition. Uncirculated or lightly circulated coins are more valuable.
- Sorting and Cataloging: Properly sorting and cataloging a penny hoard can be time-consuming but is essential for identifying valuable coins.
- Market Trends: Understanding current market trends and demand for specific coins can help in assessing the value of a hoard.
Who is a penny hoarder?
A "penny hoarder" is someone who accumulates large quantities of pennies over time, often for reasons such as collecting, saving for future value, or simply out of habit. Penny hoarders might be numismatists who are particularly interested in the historical and monetary value of certain pennies, or they could be individuals who save pennies without a specific collecting strategy.
FAQ
A penny hoarder is someone who accumulates large quantities of pennies over time. This can be done for various reasons, including investment potential, historical interest, or simply as a habit. Penny hoarders might collect pennies without a specific strategy or focus on particular types, such as wheat pennies or those with mint errors.
Historical Interest: Fascination with the history and variations of pennies, such as different mint marks, years, and errors.
Habit: Long-term saving of spare change, often without a specific purpose.
Numismatic Value: Collecting coins with significant value, especially rare or uncirculated ones.
There is no specific number that defines a penny hoarder, but typically it involves accumulating a significant quantity, often in the thousands or even millions. The term generally implies a substantial and noteworthy collection.
The Great American Penny Hoard: Over 5 million wheat pennies amassed by Steve Contursi.
The Nevada Penny Hoard: Approximately 1 million pennies found in a storage unit in Nevada.
The New York Subway Hoard: Over 1 million pennies collected by a subway token booth clerk in New York City.
Northeast Penny Hoard: Around 1 million pennies, primarily Lincoln Wheat pennies, discovered in the northeastern United States.
Yes, penny hoards can contain valuable pennies, including:
Rare Dates: Pennies from specific years with low mintage.
Mint Errors: Coins with errors such as double dies or off-center strikes.
Key Dates: Highly sought-after pennies like the 1909-S VDB, 1914-D, and 1922 no D.
High-Grade Coins: Uncirculated or lightly circulated pennies in excellent condition.