The annual summer Florida United Numismatists (FUN) Summer FUN Signature Auction held July 11-14 at the Orlando Convention Center brought in $5.8 million for sellers, less a 20% buyer’s premium.
The auction highlight was a rare 1943 Extra Fine (XF45) bronze cent that went for $186,000. Coin grading is done using the Sheldon Coin Grading Scale. It ranges from 0-70 with zero being the lowest. XF-45 coins show slight overall wear on the coins’ raised features, but all details remain full and very sharp.
This compares to Mint State grades (MS60 through MS70), where coins are perfect or nearly so.
Top-quality 1943 bronze cents in proof condition have sold for over $300,000.
A Famous Mistake
The fabled 1943 bronze cents are one of the US Mint’s most famous errors. To conserve copper for the war effort, the mint switched to steel for the penny’s 1943 production, but a few copper planchets (coin blanks) slipped into the coin presses and went into circulation unnoticed. It’s unknown how many of the copper coins were struck, but only around 20 are known to survive, making them one of the rarest of modern cents.
An 1804 $5 gold half eagle, MS63, hauled in $54,000 and a rare 1776 pewter Continental Dollar, AU55, went for $39,600. Several other vintage US gold coins brought prices in the $30,000 to $40,000 range.
Making the Grade
The Sheldon Coin grading scale is used by major coin grading services to rate the condition of US coins.
It’s one of the Big Three determinants of a coin’s value, the others being rarity and desirability among collectors and usually the most important.
For more information about the Sheldon Coin Grading Scale, see this article.
Whether you’re a seasoned collector or just getting started, be sure to browse the selection of U.S. and foreign coins and banknotes available online from The Great American Coin Company®. Our inventory is constantly changing, so be sure to check back often.
