Bought this at a yard sale for $1, figured why not? Anyone know what it is, where it's from, what it's worth. Also, the obverse and reverse are both right side up unlike U.S. coins that are inverted. Thanks for any info
British penny - you might have overpaid a bit as these are very common although I'm not too sure if that's a scarce year or not.
I wouldn't worry about overpaying, $1 is, in my opinion, the minimum one can reasonably offer for an individual coin.
The Royal Mint prefers to strike its coins in medal alignment, unlike US Mint's preference for coin alignment. 1907's mintage of 47,322,000 was the highest of any year for the 30.8mm bronze KM#794.2. The lowest grade Krause values is F - 50¢.
This coin would wholesale for about a quarter though can be as cheap as $6 per pound. This is about typical or slightly substandard condition for the date. It is considered extremely common.
The legends read: EDWARDUS VII DEI GRA(tia) BRITT(aniarum) OMN(ium) REX FID(ei) DEF(ensor) IND(ium) IMP(eratorem), meaning: Edward VII, by the grace of God king of all the Britains, defender of the faith, emperor of India.
