I nearly spilled my coffee this morning. There I was, scrolling through TikTok at 6am (don't judge me), when I stumbled across this coin collector with an absolutely bonkers claim about a penny. A PENNY. Worth £200,000!
Listen. I've always been that person who tosses change into those charity boxes at checkout counters. My husband thinks I'm insane - "That's actual money you're throwing away!" But after seeing this video, I'm now that weirdo examining every copper coin that passes through my hands.
The Penny That Makes Millionaires Drool
So here's teh deal - we're talking about the 1933 George V penny. According to this TikTok coin guru (@CoinCollectingWizard, who has a staggering 173.5k followers), there are only about six of these bad boys in existence. SIX. In the entire world!
The last one discovered sold for £140,000 at auction. And our wizard friend predicts the next one could fetch up to £200k.
I showed this to my dad who's been collecting coins since the 80s, and he just laughed at me. "You've got better odds of winning the lottery twice," he said. Thanks for the vote of confidence, Dad.
What's the big freaking deal?
The magic is in the date. If you spot a penny with "1933" inscribed beneath George V's head, you might want to sit down before you pass out. That tiny inscription could literally change your life.
I spent three hours last night digging through our "random coin" jar. Nothing.
Fakes Everywhere (Because Of Course)
Here's where it gets annoying. The internet is apparently flooded with fake 1933 pennies. I found some sketchy eBay listings last night selling "authentic" 1933 pennies for £50. Um, if they were real, they'd be listed for thousands, not pocket change.
My colleague James actually bought one of these fakes back in 2018 for £75. Poor James. His face when I told him about this article... devastating.
Other Penny Unicorns You Might Actually Find
The 1933 penny isn't the only rare copper treasure out there. Apparently, the 1919 "H" penny could make you an actual millionaire. And if you happen upon an 1893 Queen Victoria penny with a tiny flick on the number 3, you could be £600 richer.
Not life-changing money, but I'd take it.
So... now what?
If by some miracle you think you've found one of these coins, don't just list it on Facebook Marketplace (God, can you imagine?). Take it to an actual auction house or contact The Royal Mint's Collectors Service.
They have experts who can tell you if your penny is worth a yacht or just... a penny.
And remember - coins are only worth what collectors are willing to pay. So even if you find a supposedly rare coin, if nobody wants it... well... you've just got a cool old penny.
I've now dumped out every coin jar in our house and am eyeing the one in my mother-in-law's kitchen. She's been collecting change since 1975. There's gotta be something good in there, right?
Wish me luck. If I find anything worth more than £50, I'll update this with photos. And if I find the mythical 1933 penny? I'll be writing my next article from my new beach house.
Frequently Asked Questions
What are the different types of money?
The main types of money include commodity money, which is based on physical goods like gold or silver; fiat money, which is government-issued currency not backed by a physical commodity; and digital currency, which exists electronically and is often decentralized, such as cryptocurrencies.
What are credit scores and why are they important?
Credit scores are numerical representations of an individual's creditworthiness, calculated based on credit history, payment behavior, and debt levels. They are important because they impact the ability to obtain loans, credit cards, and favorable interest rates, affecting overall financial health.
How does inflation affect the value of money?
Inflation refers to the general rise in prices over time, which erodes the purchasing power of money. As inflation increases, each unit of currency buys fewer goods and services, meaning that the value of money decreases in terms of what it can purchase.
What are the risks associated with investing in the stock market?
Investing in the stock market involves several risks, including market volatility, economic downturns, and company-specific factors that can lead to losses. Investors may also face liquidity risk, where they cannot sell an investment quickly without incurring a loss. Diversification and thorough research can help mitigate these risks.
What is the importance of financial literacy?
Financial literacy is essential for making informed decisions about budgeting, saving, investing, and managing debt. It empowers individuals to understand financial concepts, evaluate risks, and navigate complex financial products, leading to better financial stability and long-term wealth building.
What is the role of central banks in the economy?
Central banks manage a nation's currency, money supply, and interest rates. They implement monetary policy to control inflation, stabilize the currency, and foster economic growth. They also serve as lenders of last resort to the banking system during financial crises.
How can I improve my credit score?
To improve your credit score, make timely payments on all debts, reduce credit card balances, avoid opening unnecessary credit accounts, and regularly check your credit report for errors, disputing any inaccuracies. Maintaining a mix of credit types and keeping old accounts open can also be beneficial.
Statistics
- In 2020, the average retirement savings for Americans aged 60 to 69 was approximately $195,000, according to Fidelity.
- As of 2021, the median household income in the U.S. was approximately $67,521, according to the U.S. Census Bureau.
- The average cost of raising a child in the U.S. is estimated to be around $233,610, according to the U.S. Department of Agriculture.
- As of 2021, the average American household had approximately $8,400 in credit card debt, according to Experian.
- According to the World Bank, around 1.7 billion adults worldwide remain unbanked, lacking access to basic financial services.
- Research by the National Bureau of Economic Research found that individuals who receive financial education are 25% more likely to save than those who do not.
- As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
- According to the Federal Reserve, approximately 39% of Americans do not have enough savings to cover a $400 emergency expense.
External Links
How To
How To Improve Your Credit Score
Improving your credit score is a gradual process that requires consistent effort. Start by obtaining a copy of your credit report from the major credit bureaus to identify any inaccuracies or negative entries. Pay your bills on time, as payment history accounts for a significant portion of your credit score. Reduce your credit card balances to maintain a low credit utilization ratio, ideally below 30%. Avoid opening new credit accounts frequently, as this can negatively impact your score. Lastly, consider becoming an authorized user on a responsible person's credit card to benefit from their good credit habits. Regularly monitor your credit report to track your progress.
Did you miss our previous article...
https://hellofaread.com/money/easter-weekend-aldi-treasure-hunt-middle-aisle-madness-thatll-save-your-garden-and-wallet
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