This came about because in the 1990s and early 2000s, the Mint used different dies for producing coins for circulation and proof coins for collectors, explained Bucki. Since pennies hold a special place in almost every coin collector's heart, demand for high-quality coins can drive the value through the roof. Sold: August 2017; Heritage Auctions, Denver, CO, ANA U.S. Some of these Wheat pennies are not as common as once believed. This coin was heavily circulated and was commonly subjected to the widespread use of "penny boards" in the 1930s and 40s, which people use to collect coins from circulation. For the world's rarest and most coveted pennies, values are well over $100,000 and approaching $2 million. How to Video: | Grading Indian Head Pennies, How to Video: | Grading Lincoln Wheat Pennies. Bucki estimates that 1,000 or less were made before the Mint discovered its error. Most Valuable Canadian Pennies 1. Coin values are determined by using the grading images to judge condition then checking the date and values on the charts provided. One time, I found about200 copper pennies among 20 rolls of pennies, or $10 worth of one-cent coins. In both the words "Liberty" and "In God We," the letters are doubled. There are estimated to be about 15-20,000 of these pennies still in existence, though there are many counterfeits on the market. Selling Wheat Pennies and Receiving the Highest Price. That said, we realize that some people might still be using these pennies to buy things without realizing their value. Note: Mint marks are used to distinguish coins by where they were minted. "The then 16-year-old Lutes received the copper-colored penny in change at his high school cafeteria in 1947," David Stone, a coin cataloger for Heritage, told CNBC Make It. Coin Chart: Tap a '+' sign to expand further coin details. These are some of the most valuable coins in circulation, based on PCGS record auction pricing: Online appraisals for valuation and selling purposes are available for free, including by auction houses that will list your item. Confirm your coin as a half cent by denomination on reverse. A short series, serving a specific demand at the time, minted 1864 to 1873. The United States mint struck over 430 million of them. Hereare someold copper pennies worth saving, #1 S Mint Lincoln Memorial Copper Pennies. Having one in its original copper-red color makes it much more extraordinary. You do the same comparing to images of the different grades and matching your coin. Five coins were confiscated and destroyed before they were acknowledged as being genuine. Though theyre a fun find, these coins arent that valuable you can buy one on ebay starting at about $6. Ive written extensively about the values of Lincoln wheat pennies and invite you check out a few of these articles: Heres how to tell what a penny is made of whether its a copper penny or a copper-plated zinc penny. What sets this special penny apart from the crowd is a doubling of the date, with a smaller set of digits appearing on top of the larger set. Here are 12 more valuable Lincoln pennies that you should definitely check for if you happen upon a very old penny. If you have gold coins or silver coins that arent a collectors item, we recommend selling to top online metals buyer CashforGoldUSA or its sister site CashforSilverUSA. Each design has high points judged to detect any smoothing and removal of luster. Auction record: $6,000 Heritage Auctions. Thisstray planchet created a great rarity treasured by coin collectors, and they are willing to pay handsomely to add this coin to their collection. He estimates that a coin in new condition could be worth around $500, while a used one could fetch up to $45. And heres the story behind zinc pennies. And,that 1:4 ratio of copper pennies to zinc Lincoln cents seems to be about my probability of finding copper one-cent coins in circulation today. Toning begins immediately and starts to deepen the colors turning shades of brown. Coin Values Discovery finds Penny Values and All old US coin values. But due to a mix-up, a proof die was used for the reverse of the coin before it was supposed to be used starting in 1993. While the front of the 1983 Lincoln Memorial Cent looks perfectly ordinary, the back might have a particularly lucrative error. What makes this particular coin extremely valuable is its pristine condition despite being over 100 years old. Also try the Interactive, sortable, searchable pennies page. Value: $50,000 to $70,000+ There are few Lincoln Memorial pennies more rare or valuable than the 1969-S doubled die. In 1916, a new dime design replaced the Barber design coin that had been used since 1982. Condition is one of the subtle steps affecting penny values. Keep reading to learn which pennies, nickels, dimes, quarters, and other coins are worth a lot of money if youre lucky enough to have them in your possession. There are still a lot of Lincoln pennies that are valuable that we don't define as still being in circulation because they were minted before 1950. Estimated coin prices and values in our database are updated twice per year. Both sites have an A+ Better Business Bureau rating, payments within 24 hours, and a 100% customer satisfaction guarantee. However, the financial hardship of the time (including the economic downturn following the "Panic of 1873") meant that few people were able to save coins for their collections. This page is a work in progress, share to social media and check back later for updates. Even for an example in a lowly grade of Good-4 on the Sheldon Grading Scale, 1856 Flying Eagle pennies are valued at about $7,000! Whats the big deal about the copper pennies? These coins are also known as Winged Liberty Head dimes. Both the 1943 copper Lincoln cent and 1944 steel Lincoln penny are worth an incredible amount of money because they're so rare. Sold: March 2018; Stacks Bowers; Baltimore - Session 3 - Rarities Night Including the ESM Collection. The number "7" appears higher than usual, nearly level with the "0.". Remember, a substantial fraction of the coins that were once minted no longer survive today, as many have been lost, melted, or damaged beyond recognition. Providing for safe handling, preserving of value and organizing your box of old coins. *All of the coin values listed from 1958 or earlier came from USA Coin Book, unless otherwise noted. The first coin was an uncirculated C mintmark coin that had an RRP of $15 and a mintage of 80,000. For a coin like this to survive so long in pristine condition, it is evident that a collector in San Francisco back in 1914 must-have set it aside before it could become tattered and worn in circulation. However, the flat spots do not connect, separation of high areas remain. A penny's worth depends on its quality and rarity. "I know a couple of people who have found these in their pocket change.". Regardless of how they got out of the mint, these exceedingly rare die variety Lincoln cents would be prized by any collector. Coins on this list of most expensive pennies were minted as early as 1793. On closed 3 examples, it appears that the 3 has two nearly complete loops, whereas on the open 3 there is much more space between the ends of the 3 and the digits middle section. Coins that are in higher grades, come under suspicion that they may have been helped by a mint employee. 1955 doubled die obverse Lincoln Wheat Penny, $1,900 Its estimated that some 24,000 Lincoln Cents from 1955 were struck with a doubled die. To be precise:Copper pennies made up until 1962had a 5% balance of tin and zinc, and from 1962 to 1982 the extra 5% of material was entirely zinc. Stone estimates that 15 to 20 are known to collectors today, although it's possible that there are a few that have not yet been accounted for. This 1999 S penny looks almost identical to the last one on this list, except, you guessed it, the A and the M are closer together. 2. In this case, the doubling is on the reverse of the coin. Valuable because they are so popular. All Wheat Pennies are worth at least three times face value, but of course many are worth substantially more especially the key date Wheat pennies. Although the doubling on these coins isn't as prominent as it is on the 1972 Doubled Die coins, Bucki said it's quite noticeable in the word "LIBERTY," especially in the letter "B." Older copper pennies are 95% copper and 5% something else. What makes this coin extremely valuable is the fact that it was struck on a zinc-coated steel planchet. So What Pennies Are Worth Money? This double die is easy to see with the naked eye, with: Auction record: $14,400 Heritage Auctions. Brenner added his initials V.D.B. Pre-1960 Lincoln Wheat Pennies: These pennies were produced between 1909 and 1958 and feature an image of Abraham Lincoln on one side and wheat stalks on the other. As example, a 1909 penny has a total of six varieties. Take, for instance, the popular 1909-S VDB Lincoln cent. The closed 3 is especially rare because only a tad more than 1 million 1873 cents of this variety were made, whereas about 11 million open 3 cents were made. Half Cent Values | All Half Cents are Rare. Note: It's not always easy to see, so consult an expert if you're not sure. The Indian Head penny was designed by mint engraver James B. Longacre and was first issued in 1859. A coin in good condition could go for about $75,000. Only nine other Lincoln wheat pennies have a lower mintage. Coin. OK, we'll admit it. This is an indication that they were not "helped" by some unscrupulous mint employee. Im a member of the American Numismatic Association (ANA) and the Numismatic Literary Guild (NLG) and have won multiple awards from the NLG for my work as a coin journalist. Before you leave remember to share this page with your friends on your favorite social media platform to help us grow. Click coin image to view full-size image. The low mintage alone makes this coin extremely rare, but the brilliant colors that resulted from a coin being stored for 100 years makes this coin extremely attractive to collectors. As a result, most of these pennies went into circulation. It is believed that less than 100 examples of the authentic 1969-S Doubled Die Obverse cents still exist, with only 40 examples ever certified. "The regular run was supposed to have the letters 'A' and 'M' in 'AMERICA' almost touching, and the special proof coins were supposed to have a wider space between those letters," said Bucki. Large cents, recognized by the denomination on the reverse, are worth close inspection. Slightly less than a half-million of these pennies were minted before the Treasury Department demanded that the initials be removed. Another great American coin that specialists study intensely and avidly collect. Because of their uniqueness, theyre remarkably valuable. When an example as fine as this one crosses the auction block, it is certain to set record prices. 1. Match your coins to each penny series value chart. Some series are more valuable than others. Wheat pennies begin at 2 cents to highs found with early colonial large cents valued in the thousands. But, of course, rarity is a significant factor in determining a penny's worth. $55. Step 1 above are image links to match your coin. These hubs are used to create metal dies, a reverse indentation of the coin design that is pressed onto a planchet to create the coin. Only 1,194 of these proof coins were struck at the Philadelphia mint before the Treasury Department dictated that the designer's initials be removed from the coin. The 1955 Doubled-Die Obverse (DDO) Penny is one of the most famous examples of design doubling on coinage. Discover the rare pennies in your box of old coins. If you get caught scrapping pennies, you could end up paying $10,000 in fines and spend 5 years in the slammer prison, that is. However, when the die used to stamp each penny became overused, this led to a batch of coins with either a very weak "D" marking or some in which the "D" was nonexistent. Isn't it funny how having an extra ear can make a penny valuable? A 1944 Lincoln penny struck at the Denver, Colorado mint facility is nothing special. Of all the 1943 copper pennies, only one Denver-minted copper cent is believed to exist, making it one of the rarest U.S. coins to date. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Privacy Policy & Terms | Here's a rundown of 10 of the most expensive pennies made since 1900: 1. Although there is some argument that mint workers actually struck these coins on bronze alloy planchets on purpose, it is more probable that a few bronze planchets left over from the previous year got stuck on a conveyor belt or tote and was incorporated into the regular striking process. Top 30 Most Valuable Wheat Pennies Last Updated 7th January 2023. (Image credit: Heritage Auctions, HA.com), "On the reverse of the 1992 Close AM, the right foot of the 'A' and left foot of the 'M' in 'AMERICA' touch," said Stone. Additionally, they can help get your coin certified by a grading service and guide you through the entire selling process. It's likely that an entire run of 250,000 pennies were printed this way, he said. I primarily collect and study U.S. coins produced during the 20th century. Coin. While most pennies are only worth a few bucks, highly coveted ones might be sitting in your pocket or stuck somewhere in your couch. 1909 S VDB Lincoln Wheat Penny - $1,725 . Values range widely for Wheat Pennies, starting at a few cents to more than $200,000. 1877 Indian Head penny, $2,650 Unlike the first five pennies listed in this article, the 1877 Indian Head cent isnt any type of error or pattern coin. Due to its value, some counterfeits were created with steel cores. All coins in this list however are. The coppery color of modern-day pennies is merely a thin plating of copper on a 99.2% zinc, 0.8% copper core. Being more common, they're also less valuable. This post may contain affiliate links. 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