I am not specialized in numismatics. However, I have seen a few error coins, and I contact with very competent numismatic dealers. Most error coins are not worth more than a regular coin. However, you can easily get over a dollar for a penny, which proportionately is 100 times more, but in absolute terms, it is just one dollar.
Most error penny's need to be in mint state 65 or higher to be considered extremely valuable
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