IT may be time to break open those old coin rolls as your Massachusetts state quarter could be worth over $12,000.
Coin collector and TikToker Shaun recently posted a video detailing the specifics of what makes this quarter so rare and valuable.
Shaun, who is known as blueridgesilverhound to his social media family, said that the error is why collectors will pay top dollar.
This 2000-P Massachusetts state quarter sold on Stack's Bowers for $12,075 due to what's called an overstruck error.
An overstrike happens when an existing coin is used as the planchet for a new coin without fully removing the features of the older coin.
This particular coin is a 2000-P Massachusetts state quarter that was overstruck onto a 1999-P Georgia quarter.
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So how does this happen? Shaun has a theory.
"A Georgia quarter was struck, probably fell out or flung out of the striking chamber and didn't exactly make it into the hopper," Shaun said on TikTok.
He added, "It landed on the ground, a mint employee probably found it a year later, and added it to the blanks for the next year."
Details to spot
Regardless of what actually happened, the error is what makes this coin so profitable.
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Here are some factors to look for.
On the coin's obverse, you can spot many of the previous coin's details.
Though these are minor, it still adds value to the quarter.
However, it's the coin's reverse where the major error can be spotted.
Since the coin is a Massachusetts state quarter, the top should read Massachusetts.
Due to the error, Georgia was struck right over the Massachusetts lettering, mixing the two.
Additionally, some of the Georgia state quarter details left on the reverse can also be found.
More on the Massachusetts state quarter
This is the sixth coin from the 50 State Quarters Program and was released on January 3, 2000.
The obverse features the bust of President George Washington while the reverse has a more intricate design.
It showcases the Minuteman against an outline of the state and highlights Massachusetts's admittance into the Union on February 6, 1788.
The obverse was designed by John Flanagan and William Cousins while the reverse was created by Thomas D. Rogers.
Collectors can find the following inscriptions on the reverse: THE BAY STATE, MASSACHUSETTS, 1788, 2000, and E PLURIBUS UNUM.
How are coin values determined?
This particular state quarter had such a high value due to its grade and error.
Errors happen when the mint incorrectly manufactures a coin, leading to elements that are not supposed to be included.
However, experts determine a coin's value based on a variety of factors.
This includes mintage, errors, demand, age, design, and condition.
More importantly, coins are graded on a rigid scale which is what collectors will pay big bucks for.
There are five main components when it comes to a grading scale including strike, surface preservation, luster, coloration, and eye appeal.
Coins are assigned a whole number between 1 and 70, with the highest figure being flawless.
The coins were minted in Denver and Philadelphia and should be struck on 75% copper and 25% nickel.
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