You don’t need to be an avid coin collector to have pennies stashed away in your drawers or piggy banks. In fact, you may not even realize that some of these pennies could be worth far more than their mere face value of one cent. While most pennies may seem insignificant, a few rare ones could turn out to be a small fortune hiding in plain sight.
A Quick Overview of Pennies Worth Money
Before we dive into the list of the most expensive pennies, it’s important to know what makes a penny valuable. A few key factors contribute to a penny’s worth:
- Low Mintage Years: The U.S. Mint doesn’t release unlimited numbers of pennies each year. In some years, the production of pennies is deliberately limited, increasing their rarity and value.
- Minting Errors: Pennies with errors—like doubled dies, incorrect dates, or misprints—are highly valued by collectors due to their scarcity. A simple mistake could mean big money!
- Condition Matters: Pennies in mint condition or those with unique characteristics (such as proof coins) tend to fetch higher prices.
If you have a collection of pennies or have come across an unusual one, it may be time to get it evaluated by a professional coin dealer or coin grading service.
The 10 Most Expensive Pennies in History
Here are the 10 most valuable pennies in history, based on their unique features, rarity, and the prices they’ve fetched at auctions:
1. 1943-D Lincoln Bronze Wheat Penny – $2.3 Million
The 1943-D Lincoln penny is a true gem for collectors. In the midst of World War II, the U.S. Mint switched to producing steel pennies to conserve copper for the war effort. However, a small number of pennies were mistakenly struck with a bronze planchet instead of steel. Only one known copy of the 1943-D bronze penny exists, and it’s worth a staggering $2.3 million in mint condition.
The coin’s rarity and historical significance make it a prized possession among collectors. In fact, a similar coin sold for $1.7 million in 2010, and even more recent sales have seen it fetch substantial amounts, with estimates reaching up to $2.3 million.
2. 1944-S Steel Wheat Penny – $1.1 Million
Another rare gem from the 1940s, the 1944-S Steel Wheat penny is an example of a minting mistake. In 1944, the U.S. Mint had transitioned to copper for pennies, but a few steel-coated zinc pennies slipped through the cracks at the San Francisco Mint. Only two known copies of this coin exist, with values ranging from $408,000 to $1.1 million, depending on their condition.
3. 1793 Strawberry Leaf Cent – $862,500
The 1793 Strawberry Leaf Cent is a true historical artifact. This penny features a four-leaf strawberry design, which was an error during production. The U.S. Mint originally intended to have a three-leaf design, but a mistake led to the addition of an extra leaf.
This incredibly rare coin is so valuable that it set a record in 2009, selling for $862,000 at auction. Only four examples are known to exist, making it one of the most coveted pennies among collectors.
4. 1943-S Lincoln Cent Struck on Bronze – $282,000
Despite the U.S. Mint’s decision to shift from bronze to steel pennies in 1943, a few bronze planchets were still in circulation. The 1943-S Lincoln Cent struck on a bronze planchet is a prime example of this rare error. In 2016, a specimen of this penny sold for $282,000, highlighting its value among collectors who seek out these transitional minting errors.
5. 1909 VDB Matte Proof Lincoln Penny – $258,000
The 1909 VDB Lincoln penny is a highly prized piece among numismatists, especially because it features the designer’s initials, “VDB,” on the coin’s reverse. The matte-proof version of this penny, which was intended for collectors, is especially rare. In excellent condition, a 1909 VDB Matte Proof penny has sold for as much as $258,000, making it a top-tier coin for collectors.
6. 1958 Doubled Die Obverse Cent – $224,831
The 1958 Doubled Die Obverse penny is a striking example of a minting error. This penny features doubled lettering on the obverse, including on the words “LIBERTY” and “IN GOD WE TRUST,” as well as the date itself. Only a few uncirculated examples exist, with one fetching $224,831 at auction.
7. 1856 Flying Eagle Cent – $172,500
The 1856 Flying Eagle Cent, while not as rare as some of the others on this list, is still a highly valuable coin due to its unique design and historical importance. Originally, over 600 of these coins were distributed to politicians and others in 1856, but they were quickly re-struck in 1858 and 1859. A high-quality example of this coin can fetch up to $172,500, depending on its grade.
8. 1864 Indian Head Penny “L” on Ribbon – $161,000
The 1864 Indian Head penny with the “L” on the ribbon is one of the most sought-after pennies from the Indian Head series. The “L” represents the initials of the designer, James B. Longacre. This particular error coin, if in good condition, can fetch up to $161,000 at auction, making it a significant find for any collector.
9. 1914-D Lincoln Penny – $159,000
The 1914-D Lincoln penny is another highly sought-after coin in the world of numismatics. The 1914-D was produced in limited numbers, making it rare and valuable. In exceptional condition, this penny can be worth around $159,000, thanks to its scarcity and historical significance.
10 Most Expensive Pennies Still in Circulation
10 Most Expensive Pennies Still in Circulation
10. 1926-S Lincoln Penny – $149,500
Finally, the 1926-S Lincoln penny is notable for its rarity, as the San Francisco Mint produced fewer coins that year compared to others. This low mintage, combined with its high demand among collectors, makes it a valuable find. Depending on its condition, this penny can be worth as much as $149,500.
What Makes a Penny Valuable?
Several factors contribute to the value of a penny:
- Rarity: Pennies produced in small quantities or with minting errors tend to be more valuable.
- Condition: Uncirculated or high-grade coins fetch higher prices.
- Historical Significance: Pennies that mark significant moments in U.S. history, such as war-time transitions or designer changes, are often valued highly.
If you’re lucky enough to come across one of these rare pennies, don’t hesitate to get it evaluated by an expert. You may have a small fortune sitting in your pocket!