If you’ve ever tossed spare pennies into a jar or piggy bank without much thought, you might want to take another look at those little coins. While most pennies seem to be worth just one cent, some rare and historical pennies can be worth thousands—if not millions! In this article, we’ll explore some of the most valuable pennies that could be sitting in your collection, collecting dust.
Understanding Penny Value
The value of a penny can go far beyond its face value if it’s rare, uncirculated, or contains an error. Each year, the U.S. Mint produces a specific number of pennies. Some years have fewer coins made, which can make those pennies more valuable. Pennies from years like 1931, 1933, 1939, and 1955 are just a few examples of low-mintage years that could be worth more.
Coins with mistakes are also worth a premium. Collectors are always on the lookout for these “error” coins, as they are unique and hard to find. So, if you think you’ve got a rare penny lying around, you might want to take it to a coin dealer or a professional for a proper evaluation. Let’s dive into 10 of the most valuable pennies you could find.
1. 1943-D Lincoln Bronze Wheat Penny — $2.3 Million
One of the most valuable pennies in existence today is the 1943-D Lincoln Bronze Wheat penny. During World War II, the U.S. Mint switched to making pennies from steel to conserve copper for the war effort. However, a few pennies were mistakenly struck on bronze planchets. These bronze pennies are extremely rare and are highly sought after by collectors.
In 2010, one of these rare pennies was sold for $1.7 million, but today, it is valued at $2.3 million if it’s in uncirculated condition. The coin’s rarity and unique composition make it incredibly valuable, and it’s considered one of the most important coins in U.S. history. If you have any 1943 wheat pennies, it’s worth having them checked out.
2. 1944-S Steel Wheat Penny — $1.1 Million
Another rare penny is the 1944-S Steel Wheat penny. In 1944, the U.S. Mint transitioned from using steel to copper for pennies, but a few steel planchets from the previous year were still in circulation. This mistake created one of the rarest pennies, with only two remaining in existence.
A mint-condition version of the 1944-S Steel Wheat penny has sold for up to $1.1 million. Even pennies in average condition can still fetch a price of $400,000 or more, making this one of the most valuable coins around.
3. 1793 Strawberry Leaf Cent — $862,500
The 1793 Strawberry Leaf cent is another rare find that could be hiding in your collection. This penny features a distinctive strawberry plant with four leaves instead of the usual three-leaf trefoil, which makes it extremely valuable. Only four of these coins are known to exist, and one of them sold for $862,500 in 2009, setting a record for the most money ever paid for a penny at an auction.
4. 1943-S Lincoln Cent Struck on Bronze — $282,000
In 1943, most pennies were made from steel, but a few were struck on leftover bronze planchets from previous years. This error coin, known as the 1943-S Lincoln Cent struck on bronze, is rare and valuable. In 2016, one of these pennies sold for $282,000 at an auction. If you happen to find one, you could be holding onto a small fortune.
5. 1909 VDB Matte Proof Lincoln Penny — $258,000
The 1909 VDB Matte Proof Lincoln penny is one of the most coveted coins by collectors. This penny is known for its matte finish, which was used for a short time before it was discontinued. The “VDB” initials on the coin represent the designer, Victor D. Brenner, and they are located on the bottom of the reverse side of the coin. This penny sold for $258,000 at auction, making it a valuable collector’s item.
6. 1958 Doubled Die Obverse Cent — $224,831
A penny with a doubling error on the lettering is called a “doubled die” penny. The 1958 Doubled Die Obverse Cent is a famous example of this type of error. You can easily spot these coins by the doubled letters in the phrases “In God We Trust” and “Liberty,” as well as a slightly doubled date. If you happen to have one in uncirculated condition, it could be worth as much as $224,831.
7. 1856 Flying Eagle Cent — $172,500
The 1856 Flying Eagle Cent is another valuable coin, even though it is not as rare as some of the others on this list. More than 600 of these coins were given to politicians and collectors when they were first minted. However, some additional coins were struck in 1858 and 1859. Depending on the condition, these pennies can range in value from a few thousand dollars to as much as $172,500.
8. 1864 Indian Head Penny “L” on Ribbon — $161,000
The 1864 Indian Head penny is an important coin in U.S. history, as it marked the beginning of the Indian Head series. Some of these coins were struck with an “L” on the ribbon, which was the initial of the coin’s designer, James Longacre. This rare variety of the 1864 penny is worth around $161,000 in mint condition. Even in less-than-perfect conditions, it can still fetch a decent amount, with values starting around $40.
9. 1914-D Lincoln Penny — $159,000
The 1914-D Lincoln penny is one of the rarest Lincoln cents, with only 1.2 million of them being minted. This low mintage makes it highly sought after by collectors. One of these rare pennies in mint condition sold for $159,000 at auction, making it one of the most valuable pennies from the early 20th century.
10. 1922 Weak D Lincoln Penny — $115,000
The 1922 Weak D Lincoln penny is another rare find. The “D” mintmark on these pennies was weakly struck, which makes them unique. This penny is highly prized by collectors, and it can fetch a high price, especially in mint condition. These coins have been known to sell for up to $115,000.
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