While pennies are often overlooked as spare change, some are worth far more than their face value. Collectors and coin enthusiasts know that certain rare and historical pennies can be worth hundreds, thousands, or even millions of dollars. These valuable coins typically owe their worth to unique errors, low mintages, or significant historical significance.
From the famous 1909-S VDB Lincoln cent to the elusive 1943 copper penny, discovering one of these treasures in your collection could turn an ordinary coin into an extraordinary investment. In this guide, we’ll explore the most valuable pennies and what makes them so sought-after.
What Can Make Pennies Valuable?
The value of a coin, including pennies, can usually be estimated easily by taking a look at a few key factors: its condition, date, mint marks, and mint errors. A coin’s condition is often one of the most important factors when estimating its value, as collectors prefer coins in pristine condition. The date of a coin can make it more valuable, especially if it’s in great condition, because old coins have more time to be damaged and lose their luster.
Certain mint marks can also add to or subtract from the value, as they indicate where a coin was produced, and each mint facility produces a different number of coins. Mint errors can make coins extremely valuable because the error means that they are often the rarest forms of a coin.
6 of the Most Valuable Pennies
1943 Copper Penny: This penny is inordinately valuable to coin collectors because it was mistakenly minted in copper instead of the steel used that year because of wartime restrictions. Only a few are known to exist, making them extremely rare and valuable. Today, these pennies can sell for over $100,000 in good enough condition, and one even sold for $1.7 million (with the proceeds going to charity).
1944 Steel Penny: The 1944 steel penny is one of the rarest, most sought-after American coins in the world. Like the 1943 copper penny, it was struck using the wrong planchet. By 1944, the U.S. Mint returned to only using copper alloys to mint pennies, but a few were accidentally struck with the steel-zinc planchets they used to make the 1943 steel pennies. Average condition or worse 1944 steel pennies can sell for $50,000, and they can go for over $1 million in MS63 condition or better.
1909-S VDB Lincoln Cent: The 1909-S VDB is rare because it has the initials of the coin’s designer, Victor David Brenner, on the reverse, which was only used for a short time. Only about 500,000 were ever minted. Additionally, 1909 was the first year of the Lincoln Cent’s production after it replaced the Indian Head penny. Its rarity and historical significance make it one of the most valuable pennies. In immaculate condition, these can go for over $150,000. Coins in great condition can go for a few thousand dollars.
1955 Double Die Lincoln Cent: The 1955 Double Die is an extremely rare penny that resulted from a minting error that caused a doubling in the coin’s design. This unique error makes the coin highly sought after by collectors. Only about 20,000 were minted. These pennies can be worth over $1,000 in average condition and closer to $20,000 in uncirculated or better condition.
1922 No D Lincoln Cent: All 1922 Lincoln cents were minted in Denver, so they should all have a D mint mark. This rare coin is missing its “D” mint mark, and other varieties have noticeable but weak mint marks. The “no D” variety is by far the most valuable and has no trace of the mint mark whatsoever. This error occurred because of a heavily overused die, resulting in an extremely rare and valuable penny. These coins can be worth $1,000 or more in average condition and closer to $18,000 in uncirculated condition.
1969-S Double Die Lincoln Cent: Like the 1955 Double Die, this coin also features a minting error that doubled its design. Doubling on this coin should be noticeable in the lettering and date (but not the mint mark, as that was punched separately). These pennies are absurdly rare, with only about 100 in existence, making them an extremely sought-after rare penny. They can be worth $40,000 or more in MS63 condition and about $130,000 in better condition.
How to Tell if You Have a Rare Penny
Wondering if you have any rare pennies in your change collection and just don’t know it? It isn’t hard to check; it can just be time-consuming to examine a large number of coins.
Research online to find out what marks, mint errors, and dates to look for on your type of penny. Next, estimate the condition of your coin. Check out Benzinga’s article, which is dedicated to coin grading, for more information.
Closely examine the coin for any features you noted in the first step and look out for possible mint errors. Finally, enter the details of your coin online to see what similar coins have sold for recently. If you find a potentially valuable coin or just want to get a more accurate estimate, you can consult a professional coin grader or appraiser.
Other Coins You May Love
1964 JFK Half Dollars: These commemorative coins are popular among collectors for their historical significance. They were created to honor the late President John F. Kennedy, who was assassinated the previous year. You can buy these half dollars from a precious metals dealer.
Canadian Gold Maple Leaf: These coins are known for their purity and beautiful design. They are struck in 0.9999 pure gold, making them a popular bullion coin. You can purchase them through great reputable dealers like American Hartford Gold.
Platinum American Eagle: These coins offer a unique opportunity to invest in platinum and are one of the most popular forms of platinum bullion. They have the same design as the gold and silver versions of the American Eagle coin. They can be purchased through reputable dealers like Priority Gold.
How to Buy and Sell Rare Pennies
While most pennies aren’t worth more than their face value, some rare pennies are definitely worth selling. The best way to buy and sell rare pennies is through reputable dealers like the ones listed below:
Should You Invest in Coins?
Coins have been considered a valuable asset for centuries, with the potential to appreciate in value over time. From rare and collectible coins to modern bullion coins, there are various options available for investors to explore.
For individuals passionate about history and collecting, investing in coins can be a rewarding and enjoyable experience. However, for those seeking quick returns or looking for a more liquid investment, other asset classes may be more suitable.
Frequently Asked Questions
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Pennies from the following years are often worth money due to rarity, errors, or low mintage: 1909-S VDB, 1914-D, 1922 (No D), 1943 Copper, 1955 Doubled Die, 1972, 1983, 1995 Doubled Die, 1982 Small Date Bronze, 1992 Close AM, and 1999 Wide.
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No, a regular 1974 penny is not worth $2 million. However, a rare 1974 aluminum penny prototype, made in limited quantity and never officially released, has been valued in the hundreds of thousands. One specimen was once expected to fetch close to $2 million at auction, but legal issues with the U.S. Mint prevented the sale. Regular 1974 copper pennies are typically only worth face value unless in uncirculated or proof condition.
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A 1999 penny can be worth up to $4,500 primarily due to a rare error known as the “Wide AM” variety. This error occurs when the letters “A” and “M” in “AMERICA” on the reverse side of the penny are spaced farther apart than usual, a feature typically seen only on proof coins. A small number of these Wide AM pennies were mistakenly struck with business dies and released into circulation.
