In recent months, viral stories and social media posts have claimed that certain rare coins—such as a penny worth $124 million or a 1976 Bicentennial quarter valued at $1.5 billion—are circulating among unsuspecting collectors. However, according to the Professional Numismatists Guild (PNG), these claims are completely false or grossly exaggerated.
The Truth Behind the Hype
John Feigenbaum, Executive Director of PNG, warns that these misleading reports often raise false hopes for people who believe they have stumbled upon a fortune. “Unfortunately, these clickbait stories and videos with absurdly inflated rare coin values often get picked up by major search engines,” Feigenbaum explains. “The truth is, while some coins can be valuable, the extreme claims about common coins being worth millions or billions are pure fantasy.”
The highest price ever paid for a rare coin at auction is $18.9 million—far from the wild figures touted in online articles. Additionally, some of the coins featured in these misleading stories are either misrepresented or haven’t been in general circulation for decades.
How to Determine Your Coin’s Real Value
For those who genuinely want to assess their coins’ value, it’s essential to rely on trusted sources. PNG President James Sego emphasizes the importance of expert evaluation:
“For consumer protection and education, it is important to rely only on expert sources, such as long-time hobby and trade publications, established price guides, and professional numismatists.”
One of the most reliable resources for coin valuation is the Numismatic Guaranty Company’s (NGC) free online price guide, available at:
👉 www.NGCcoin.com/price-guide/united-states
If you suspect you have a rare coin, consulting a reputable coin dealer is the best course of action. The Professional Numismatists Guild maintains a directory of experienced, ethical dealers who adhere to strict industry standards. You can find a verified PNG member-dealer here:
🔎 www.PNGdealers.org
A Cautionary Tale: When Hype Meets Reality
(Photo courtesy of JMS Coins.)
Sego recalls a recent incident where a collector thought he had struck gold with a 1926 silver dollar. After watching a misleading online video, he believed the severe gouges on his coin indicated a rare minting error worth tens of thousands of dollars. Unfortunately, expert evaluation revealed the scratches occurred after the coin left the U.S. Mint, reducing its value to merely its silver melt price—about $25.
This example highlights why accurate information is crucial for collectors.
Final Advice: Trust the Experts
For anyone looking to buy, sell, or evaluate coins, reputable expertise is key. The Professional Numismatists Guild was founded in 1955 with the motto: “Knowledge, Integrity, Responsibility.” PNG members must adhere to a strict code of ethics, ensuring fair dealings in numismatic transactions.
📩 For more information or to connect with a trusted expert, contact PNG at:
📧 Email: info@PNGdealers.org
📞 Phone: 951-587-8300
Bottom line: Don’t fall for exaggerated claims—get your coins evaluated by professionals. As PNG President James Sego puts it:
“If you don’t know rare coins, you better know your rare coin experts.”