You probably have a jar of pennies somewhere in your house, collecting dust and taking up space. But did you know that some of those pennies could be worth thousands or even millions of dollars? Yes, you read that right. There are some rare and valuable pennies out there that could make you a fortune if you ever find them.
How do you know if you have one of these pennies? Well, you have to look closely at the date, the mint mark, and the condition of the coin. Some pennies are worth more because they have errors, such as a double die or a wrong metal. Others are worth more because they are very old or very scarce. Here are 10 of the most expensive pennies in history.
1909-S VDB Lincoln Wheat Penny – $750
The 1909-S VDB Lincoln wheat penny is one of the most famous and desirable coins in U.S. history. It is the first year of the Lincoln cent, which replaced the Indian head cent. It is also the only year that the initials of the designer, Victor David Brenner, appear on the reverse, below the wheat stalks. The Mint removed the initials after public outcry, claiming they were too prominent and looked like advertising. The 1909-S VDB penny is the rarest of the four varieties of the first-year Lincoln cent, with only 484,000 minted at the San Francisco Mint. A 1909-S VDB penny in mint state 65 red can sell for up to $750.
1914-D Lincoln Wheat Penny – $5,500
The 1914-D Lincoln wheat penny is one of the key dates in the series, meaning it is one of the rarest and most sought-after by collectors. Only 1.1 million of these pennies were minted at the Denver Mint, compared to over 100 million at the Philadelphia Mint. Finding a 1914-D penny in good condition is very difficult, and finding one in uncirculated condition is almost impossible. A 1914-D penny in mint state 66 red sold for $105,800 in 2006.
1857 Flying Eagle Penny – $7,000
The 1857 flying eagle penny is the first year of the series and the first small cent issued by the United States. Before 1857, the U.S. Mint produced large cents that were the size of half a dollar. These coins were bulky and unpopular, so the Mint decided to reduce the size and weight of the cents and use a new metal composition of 88% copper and 12% nickel. The 1857 penny features a flying eagle on the obverse and a wreath on the reverse. It is a historic and scarce coin and can command up to $7,000 in mint state 65.
1873 Indian Head Penny – $10,000
The 1873 Indian head penny is a rare coin because of a variety called the “closed 3”. The original design of the date had the 3 looking like an 8, which confused the public. The Mint quickly corrected the error by making the 3 more open, but some of the closed 3 pennies had already been released. The closed 3 variety is much scarcer than the open 3 variety and can fetch up to $10,000 in mint state 65.
1858 Flying Eagle Penny – $10,000
The 1858 flying eagle penny is the second year of the series, which was the first small cent issued by the United States. The flying eagle design was unpopular and difficult to strike, so it was replaced by the Indian head design in 1859. The 1858 penny has two varieties: the large letters and the small letters. The large letter variety has the letters “AM” in “AMERICA” touching at the base, while the small letter variety has them separated. The small letters variety is rarer and more valuable and can sell for up to $10,000 in Mint State 65.
1856 Flying Eagle Penny – $25,000
The 1856 flying eagle penny is the rarest and most valuable of the series. It was not intended for circulation, but rather as a pattern coin to test the new small-cent design and metal composition. Only about 2,000 of these coins were made, and most of them were distributed to Congress and other VIPs. Some of them, however, did enter circulation and were saved by collectors. The 1856 flying eagle penny is a highly sought-after coin and can fetch up to $25,000 in mint state 65.
1944 Steel Lincoln Wheat Penny – $125,000
The 1944 steel Lincoln wheat penny is a rare and valuable error coin. It was made by mistake when some steel planchets from 1943, which were used to save copper for the war effort, got mixed up with the regular copper planchets in 1944. The result is a silver-colored penny that sticks to a magnet. Only a handful of these coins are known to exist, and they are highly coveted by collectors. A 1944 steel penny from the Denver Mint graded mint state 63 sold for $125,000 in 2008.
1943 Copper Lincoln Wheat Penny – $250,000
The 1943 copper Lincoln wheat penny is the opposite of the 1944 steel penny. It was also made by mistake when some copper planchets from 1942, which were supposed to be retired, got stuck in the coining press and were struck with 1943 dies. The result is a copper-colored penny that does not stick to a magnet. Only about 40 of these coins are known to exist, and they are extremely rare and valuable. A 1943 copper penny from the Philadelphia Mint graded extremely fine 40 sold for $250,000 in 2020.
1943-S Copper Lincoln Wheat Penny – $504,000
The 1943-S copper Lincoln wheat penny is the rarest and most valuable of the three 1943 copper pennies. It was made by the same error as the 1943 copper penny from the Philadelphia Mint, but it is much scarcer because the San Francisco Mint produced fewer coins in 1943. Only about 15 of these coins are known to exist, and they are the holy grail for penny collectors. A 1943-S copper penny-graded mint state 62 sold for $504,000 in 2019.
1943-D Copper Lincoln Wheat Penny – $1.7 million
The 1943-D copper Lincoln wheat penny is the most expensive in the world. It is also the most valuable U.S. coin ever sold at auction. It was made by the same error as the other 1943 copper pennies, but it is the only one known to exist from the Denver Mint. It was discovered by a teenager in 1976, who kept it for decades until he sold it in 2010. The 1943-D copper penny-graded mint state 64 red sold for a staggering $1.7 million in 2010.
