You don’t have to be a coin enthusiast to have piggy banks scattered throughout your home filled with quarters, dimes, nickels, or pennies. Yet, you might not realize the hidden treasure you’ve accumulated that could be worth significantly more than just spare change. Some of the pennies you have could be worth far more than their original one-cent value.
Pennies That Are Worth Money: Quick Overview
Certain rare pennies can be quite valuable, especially if they are uncirculated or in excellent condition. Here are some important points to consider:
- The United States Mint produces a limited number of pennies each year. A lower mintage in a given year can significantly increase the value of those coins.
- Notable years with low mintage include 1931, 1933, 1939, and 1955.
- Coins with errors or mistakes can be particularly valuable, as collectors often pay a premium for these rare finds. It’s worthwhile to check any pennies you have, as even minor errors can lead to substantial value.
- If you suspect you have valuable pennies, consider visiting a reputable coin dealer or professional grading service for an appraisal.
10 Most Valuable Pennies
Here are ten pennies to watch for in 2024 that could be worth a significant amount:
- 1943-D Lincoln Bronze Wheat Penny — $2.3 million
- 1944-S Steel Wheat Penny — $1.1 million
- 1793 Strawberry Leaf Cent — $862,000
- 1943-S Lincoln Cent Struck on Bronze — $282,000
- 1909 VDB Matte Proof Lincoln Penny — $258,000
- 1958 Doubled Die Obverse Cent — $224,831
- 1856 Flying Eagle Cent — $172,500
- 1864 Indian Head Penny “L” on Ribbon — $161,000
- 1914-D Lincoln Penny — $159,000
- 1926-S Lincoln Penny — $149,500
1. 1943-D Lincoln Bronze Wheat Penny — $2.3 Million
Designed by Victor D. Brenner, this penny is among the most valuable coins in circulation today. During World War II, pennies were typically made from steel to conserve copper for military use. However, a small number were mistakenly minted using bronze, making them exceedingly rare and highly sought after. Composed of 95% copper and 5% tin and zinc alloy, this coin sold for $1.7 million in 2010 and is currently valued at $2.3 million in uncirculated condition.
More recently, this penny fetched $840,000 at auction. Only one known example exists, as it was accidentally struck on a bronze planchet at the Denver Mint. However, other variations of the coin can sell for $100,000 or more. If you happen to have any 1943 wheat pennies, it’s a good idea to visit a coin dealer to determine their potential value.
2. 1944-S Steel Wheat Penny — $1.1 Million
This penny is notable for missing the 1944 transition from steel-coated zinc to copper, making it extremely valuable. Only two examples of the San Francisco-minted version are known to exist. In average condition, circulating coins can fetch between $408,000 and $409,000, while those in uncirculated condition are valued at over $1.1 million.
3. 1793 Strawberry Leaf Cent — $862,500
In 2009, the Strawberry Leaf penny made headlines by setting the record for the highest price ever paid for a penny at auction, selling for $862,500. This coin is exceptionally rare, featuring a four-leaf strawberry plant on its reverse instead of the usual three-leaf design. Only four of these coins are known to exist, so discovering one would be an extraordinary stroke of luck more fortunate than finding a four-leaf clover!
4. 1943-S Lincoln Cent Struck on Bronze — $282,000
The U.S. Mint ceased the production of bronze pennies in 1943, but a few bronze planchets may have been inadvertently left in circulation, leading to the creation of extremely rare 1943-S bronze pennies. One of these valuable coins sold for $282,000 at auction in 2016.
5. 1909 VDB Matte Proof Lincoln Penny — $258,000
Older coins typically increase in value over time, and matte-proof coins are especially prized by collectors. The 1909 VDB Lincoln penny is among the most sought after. Authentic examples are identifiable by their square, sharp-edged rims and intricate details. This particular coin sold at auction for $258,000, notable for featuring the designer’s initials VDB on its lower edge.
6. 1958 Doubled Die Obverse Cent — $224,831
The 1958 Doubled Die Lincoln cent is highly sought after, commanding some of the highest auction prices due to its limited mintage. This error coin was produced at the Philadelphia Mint and is easily identifiable by the “doubled” lettering in “In God We Trust” and “Liberty.” Additionally, the date on this version also shows a slight doubling. An uncirculated example of this coin can be worth $224,831.
7. 1856 Flying Eagle Cent — $172,500
While not as rare as the 1943 Lincoln cents, the Flying Eagle cent still holds significant value, with prices exceeding six figures. Originally, over 600 of these coins were given to politicians and others during the initial minting. In subsequent years, additional coins were re-struck from the original dies in 1858 and 1859. Prices for these coins range from $4,500 to $172,500.
8. 1864 Indian Head Penny “L” on Ribbon — $161,000
The Indian Head Penny replaced the Flying Eagle Cent in 1864. Similar to how VDB marked his initials on Lincoln pennies, the designer James Longacre added an “L” for his last name on the ribbon near the end of 1864. These pennies are highly coveted by collectors, with one example selling for $161,000 at auction. Even coins in less-than-mint condition can fetch around $40.
9. 1914-D Lincoln Penny — $159,000
Lincoln cents minted between 1909 and 1958 are a favorite among collectors. The 1914-D penny is particularly rare, with only 1.2 million produced. While you can find these coins priced from hundreds to thousands on platforms like eBay, one pristine example sold for $159,000.
10. 1926-S Lincoln Penny — $149,500
It’s worth checking your pockets for Lincoln wheat pennies, as they often sell for more than their face value, even in non-mint condition. If you happen to find a red Lincoln penny from this era, it might be time to plan that luxury vacation. A 1926-S Lincoln cent in mint condition with its red surface intact sold for $149,500 at auction in 2006.
How Do You Know if a Penny Is Valuable?
The pennies listed above can be worth hundreds of thousands or even millions of dollars, but several factors influence a penny’s value. Rare coins minted in smaller quantities are typically more valuable over time. If a rare coin is also in excellent condition, its value may increase further.
Collectors and numismatics experts utilize the Sheldon Scale to grade coins on a scale from 1 to 70, with 70 being the highest grade. A coin’s color, wear, and rarity all factor into its grade and value.
Ultimately, a penny is only valuable if you can find a buyer willing to pay its worth. Always work with a reputable coin dealer and do thorough research to ensure you’re getting the best price for your coins.
Final Takeaway
It’s easy to overlook a penny when you spot one on the ground or when it gets left in your pocket during laundry. Consider taking some time to search through your forgotten coin collection; you might just discover a hidden treasure.
FAQ
What pennies should you look for that are worth money?
When searching for valuable coins, focus on those minted in low quantities and in excellent condition. Look for Indian Head pennies, Flying Eagle pennies, pennies with unique designs, and the extremely valuable Strawberry Leaf cent.
Which pennies are worth $1,000?
Examples of pennies valued at $1,000 or more include the 1955 Doubled Die Lincoln Cent, the 1909-S Indian Cent, the 1909-S VDB Lincoln Cent, and the 1914-D Lincoln Cent. The better the condition of the coin, the higher its potential value.
What years of pennies are worth money?
Older pennies tend to have more value. Coins from this list date back as early as 1793, and the 1909 Indian cent series features many high-value coins. Additionally, pennies from the 1920s, 1930s, 1940s, and 1950s can also be worth significant amounts.
How can I determine the value of my pennies?
To determine your pennies’ value, assess their condition using the Sheldon Scale (1 to 70), look for rare minting errors or unique designs, and consult price guides or reputable coin dealers for accurate valuations.