$1 Coin Could be Worth $50

[Valerie S. Johnson]

By Valerie S. Johnson

Less than a month ago, the new George Washington $1 coins went into circulation. A new aspect of the design was the etching of some of the usual features -- the year, mint mark (“D” for Denver, “P” for Philadelphia), and the slogans “In God We Trust” and “E Pluribus Unum” -- on the edge of the coins.

However, some of the Presidential coins were only half dressed. The US Mint reports that an “unspecified number” of the $1 coins were minted and released without the edge lettering. No explanation for this defect was provided.

Coin collectors estimate that that the coins are worth $50, although some are fetching higher prices at online auctions. As with any other commodity, price is dictated by supply and demand. Numismatic enthusiasts estimate there are between 100,000 and 300,000 of the plain-edged coins in circulation. For some unknown reason, many of these coins are appearing in Florida.