"Key date" coin question

[ModernMiner]

"Key date" coin question

I hear the expression "key date" on coins a lot, and was just wondering what exactly qualifies a coin to be a "key date" coin?
I'm assuming that key date coins are the low production coins that are worth way more than others of the same type.
The reason I'm asking this question is, normally when I find a wheat penny let's say, they usually start out in the coin book at about 10-15 cents. Today I found a 1933 wheat, and it starts out at 70 cents.
I know this is not a big find, but it started me wondering.......
At what $ amount does a coin become a "key date"?
Thanks,
MM

 

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[Born2Dtect]

Re: "Key date" coin question

Key dates are the coins that are hard to get. Usually low mintage.

Ed d.

 

[djui5]

Re: "Key date" coin question

Also certain errors, etc.

Key dates are worth more, they're the dates you want to look out for, like the 1942 Merc dime. There is a 2 over 1 error that's worth an insane amount of $$. Sold a very very worn one for $350 recently.

 

[Jack(IN)]

Re: "Key date" coin question

Usually coins with low mintage, like the 1877 Indian Cent, or as everyone wants a 1916-D dime. Some error coins might qualify as well.

 

[BuckleBoy]

Re: "Key date" coin question

I usually don't throw error coins in the mix with "key dates." I don't think too many people will refer to 1942/1 dimes, "three-legged" Buffalo Nickels, or 1955 doubled die cents as "key dates." However, I have heard the 1922 plain referred to as a "key date," although I'm not so sure I agree with that usage of the term. I usually reserve the title for those rarest non-error coins in the series. For example: 1877 cent, 1909-S VDB cent, 1916-D dime, etc... Then those coins that are scarce but not the rarest I would call "semi-key dates." For example: 1909-S Indian, 1914-D Lincoln Cent, etc. I don't think there is a specific dollar amount associated with any of these designations. They just appeared as a sort of common jargon.

Regards,

Buckleboy

 

[ModernMiner]

Re: "Key date" coin question

Thanks everyone for your input & info. If I ever find one of those dimes, I'll be sure NOT to clean it.
Have a great weekend,
MM