THERE'S a possibility your nickel is worth a whopping $20,000, but there are specific details you need to watch out for.
TikToker BlueRidgeSilverHound is a coin aficionado that regularly posts about rare coins to his thousands of followers.
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The content creator, otherwise known as Shaun, suggested his followers look for some premium nickels from the 1950s and 60s to potentially make a huge profit.
“These two particular decades are notorious for having some of the worst strikes,” Shaun said.
While on the surface this might sound like a negative thing, strike errors can actually boost a coin’s value in coin collector circles.
One 1953 nickel suffers from really bad strikes and die deterioration, Shaun said.
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Sometimes this die fatigue can lead to intense doubling of coin elements, bringing a high ticket price if you have one of these coins.
The overall poor quality with the full five steps on its back side made one coin so high in demand it sold for $20,812.
Some coins of this nature have even sold for up to $24,000 if they have a high enough grade.
The details
What you need to do to find this coin is look at the year first.
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As Shaun said, the 1950s and 60s are a prime time.
Then, see if your coin has any wear and tear or die deterioration that led to doubling.
The ones with the biggest price tags will have a full five set of stairs on the back.
How to find other valuable coins
The most valuable coins are often scarce in numbers, have an error or are in really good condition.
If your coin features all three, then you may hit the jackpot.
To find out if your coins are worth anything, head to eBay, filter by "sold listings" and toggle to the highest price.
How are coin values determined?
Most of the time, a coin’s high value comes down to its errors.
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.
Read More on The US Sun
These are four most valuable circulated coins worth up to $9,000, and you could also have them in your piggy bank.
Plus, find out if you have a state quarter worth more than $12,000.
