American currency has gone through various changes over the years, and along the way, some rare and valuable pieces have been pulled from circulation due to one major mistake.
These pieces, whether coins or bills, often became iconic in the world of numismatics and are sought after by collectors today. Here are 12 pieces of American currency that were removed after a major error.
1. The 1933 Double Eagle $20 Gold Coin
The 1933 Double Eagle gold coin is one of the most famous and valuable mistakes in American numismatic history. Originally struck just as the U.S. abandoned the gold standard, this coin was meant to be melted down and destroyed. However, a small number of these coins managed to escape the U.S. Mint before they could be melted.
The Secret Service spent years attempting to track down and confiscate these coins, considering them stolen property. Despite their best efforts, a few coins remained in private hands, creating intense demand among collectors.
In 2002, the U.S. Mint even reissued a legal version of the coin, but the originals are still considered among the rarest and most valuable in the world. Owning one without government approval is illegal, making these coins not only valuable but also risky to possess.
2. The 1913 Liberty Head Nickel
The 1913 Liberty Head nickel was never meant to be minted. The design was supposed to be replaced by the Buffalo nickel, but for some unknown reason, a small number of Liberty Head nickels were struck that year.
There were only five of these coins made, and they were removed from circulation immediately after being discovered. These rare coins are now highly prized by collectors and are considered one of the most sought-after pieces of American currency.
3. The 1890 Grand Watermelon Bill
The 1890 Grand Watermelon bill is a famous error in U.S. currency history. These $1,000 bills, part of a series of notes featuring a large greenish-orange design of a watermelon-like fruit, were mistakenly printed with a dramatic engraving mistake.
The bills were meant to depict a more traditional design, but the error led to only a few of them surviving today. These bills have become legendary in numismatic circles, fetching high prices at auctions.
4. The 1928 $500 Bill
In 1928, the U.S. Treasury issued a series of high-denomination currency, including $500 bills. However, the bill’s design included several printing errors that made it much less stable in circulation.
They were removed from circulation due to these issues and later became a rare collectible item. Despite their relative rarity, these bills continue to be highly valued by collectors.
5. The 1934 $10,000 Bill
Like the $500 bill, the 1934 $10,000 bill was part of a series of high-denomination notes that featured errors in their design. While the bills themselves were legal tender, they were quickly pulled from circulation due to public backlash and their impracticality.
Today, the $10,000 bill is a coveted collectible for those with the means to own one, though only a few are known to still exist.
6. The 1955 Doubled Die Penny
One of the most famous coin errors in history is the 1955 Doubled Die penny. During the minting process, the die used to create the coin was improperly aligned, causing a double impression of the image on the coin.
The result was a penny with a noticeable doubling effect on the date and other details. While only a few of these coins were released into circulation, they became highly valuable to collectors who sought out this error.
7. The 2004 Wisconsin State Quarter with Extra Leaf
In 2004, a few Wisconsin state quarters were struck with an extra leaf in the corn stalk on the reverse side. This minting error caused confusion among collectors and led to the discovery of the “Extra Leaf” variety.
Although this error wasn’t widespread, the rare coins have become highly sought after by collectors, making them a valuable piece of American currency.
8. The 1970-S Proof Lincoln Cent with No “S” Mintmark
In 1970, a small number of proof Lincoln cents were struck without the “S” mintmark, making them a major error. These coins were supposed to have been minted in San Francisco, but a few slipped through the process without the necessary mintmark.
These coins are highly sought after by collectors and are one of the most valuable types of modern U.S. currency errors.
9. The 1983 No “P” Mintmark Jefferson Nickel
In 1983, a small number of Jefferson nickels were struck without the “P” mintmark, which was supposed to be added to all coins minted at the Philadelphia Mint. This error caused a stir among collectors, and while the number of coins struck without the mintmark was limited, they are now considered highly valuable.
10. The 2000 Sacagawea Dollar with the “Cheerios” Reverse
In 2000, a special batch of Sacagawea dollars was distributed to banks as part of a promotional campaign, known as the “Cheerios” promotion. Some of the coins were mistakenly struck with a different reverse design, leading to an error known as the “Cheerios” dollar. These coins, which are now rare, fetch high prices on the numismatic market.
11. The 1950 $100 Bill
The 1950 $100 bill was part of a series that featured several printing errors, including misalignments and incorrect coloring. Although the bills were printed in large quantities, these errors led to many of them being removed from circulation. Today, the 1950 $100 bill remains a sought-after collectible for those interested in historical U.S. currency.
12. The 1861 $100 “Demand Note”
The 1861 $100 “Demand Note” was issued during the Civil War, and several of these bills contained errors in the printing process. The most famous mistake involved the use of the word “Treasury” instead of “U.S. Treasury.” Due to these errors, many of these notes were pulled from circulation.
Today, these bills are considered one of the most valuable pieces of historical currency in the United States.
For more detailed information on U.S. currency errors, visit Smithsonian Magazine.
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