New Loberty penny on the block.

I have this 1975 penny I just came across that appears to spell "Loberty" on the obverse. I'm brand new to coins and I found it fascinating enough to post it and maybe get some opinions. (Now if I can just figure out how to post a picture in this forum) the coin is pretty beat up but it's clearly an O shape instead of I. Does it have any value?

 

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Here is a better micrograph of the "Loberty". I have trouble thinking it's a post mint error just based on the shape and how it's equally raised on both sides of the "O" but like I said I'm brand new to paying any attention to my pocket change.

 

Worth 1 Cent. Not a Cent more. This Cent has taken PMD.

 

Okay cool. So you want to buy it for $2000?

 

Send it back to the Mint. They will pay you 100 Kwacha for it.

Chris

 

The letter "I" just took a hit and made some metal move around, no error at all.

Not worth any thing over face or copper value.

 

Thanks. I get it now. Not as valuable as "THE LOBERTY PENNY" from 1988.

 

Thanks for posting your pictures! Last person who claimed they found a LOBERTY Cent had no pictures but kept telling all of us that a coin dealer offered him thousands for it! By the way your Cent is PMD - Post Mint Damage

 

Thanks for the responses. Especially the ones that took the time to explain it so I don't feel completely stupid. Now I'll continue my quest.

On another note, is there a year that aluminum cents were authorized to be released? My dad had a hand full of them when I was a kid, just curious.

 

This is the story of the 1974 Aluminum Cent - From the Wikipedia Website

Quote "1,571,167 were struck in anticipation of release, but none were released into circulation. Examples were passed out to US Congressmen in a bid to win favor in switching to the new alloy. When the proposed aluminum cent was rejected, the Mint recalled and destroyed the examples. A few aluminum cents not returned to the Mint are believed to remain in existence." closed quote -

So my question to you is did your dad work for the US Mint?

 

Your question should be, "Were any Congressmen ever indicted for stealing U.S. Mint property?"

Chris

 

No he didn't, in fact he worked as an a anodizer and metal plater. I was was about 9 or 10 at the time so I blew it off until now, but when I asked my older brother he said he clearly remembers them. He is going to look through dad's stuff in storage to try to find them.

 

My grandfather also did a lot of jewelry work and metal plating. Had a ton of plated coins, when he could get them from my grandmother (who collected coins.) All are considered PMD and not worth more than face value, really...although I wish I had a few as a keepsake of him. That's where their value would lie - for you.

 

He worked with plating metal. Therein lies your answer. He obviously plated some cents while on the job and showed them to you to see your reaction.

 

If you can find a couple more just like it, that would make it a die variety, not PMD and worth more than a penny.

 

Funny story as Jello and I were talking on the phone when the 1974 Alum was the big news in coin world and numismatics news. Both of us had the same idea...... as soon as that cent went to a TPG and a huge value was placed on it.... someone at the mint would have a light bulb go off in their head and go..... wait.... it's government property . And worth a small fortune so we want it back..
NOW GIVE IT!!!!! As it is and was US mint property .
Like you didn't see that coming ? Duh...

 

I do not understand why this is in an IGC holder and not a PCGS, NGC, or even ANACS?

 

http://www.pcgs.com/News/1974-Aluminum-Cent

toven specimen

 

Hope you can find your dad's stash!

 

This is incorrect. PMD can't create a die variety. A die variety is created in the die making process.