Most pennies are worth only a penny, but a few have more value than you might expect. Some have interesting backstories, such as the rare 1943 bronze Lincoln penny that somehow missed being switched from steel to copper.
Other factors can make a penny valuable beyond its year of minting, such as its condition and strong collector demand. Read on to learn more about these uncommonly valuable pennies.
1792 Birch Cent
A penny minted back in 1792 fetched nearly a million dollars at an auction held by Heritage Auctions. The coin, also known as the Birch Cent, is one of a handful to survive and the finest example of its kind in existence.
The copper coin features a portrait of Liberty on one side and the denomination “One Cent” within a wreath on the other. But it’s the silver slug inside that has people talking.
It’s thought only 10 of the coins were ever made. They were commissioned by Thomas Jefferson and seen first-hand by George Washington. But when Washington gave a speech to Congress about the coins, his speech writer strangely left out mention of the Birch Cents. That may be why they are so rare and valuable today. They represent one of America’s early attempts to distance itself from Britain.
1793 Liberty Cap Cent
When coin collecting became a national hobby, the 1793 Liberty Cap Cent was one of the first coins people sought to acquire. It was the last year of large copper cents, which were minted with Joseph Wright’s Liberty Cap design before being replaced with the Draped Bust head of Liberty on silver coinage.
A high-grade example of this rare variety can be worth thousands of dollars. As a result, collectors eagerly vie for the opportunity to acquire one whenever it becomes available at auction. This Sheldon-13 coin has a nice, strong strike with lustrous dark olive and steel surfaces and exhibits little to no wear. It also has a silver center. Only 275 to 350 examples are thought to exist in all grades. This coin has strong demand from copper specialists. Its high-grade condition is the primary reason for its high price.
1801 Indian Head Cent
The 1801 Indian head penny is one of the rarest of the old pennies. It comes only eight years before the new Lincoln penny was introduced and is highly collectible. It also has a pretty basic design and can be worth a lot of money in good condition.
These old pennies are made of copper-nickel alloy, so their value varies depending on the quality of the coin. To determine a penny’s grade, you can use a magnifying glass to check for small details. For example, if all of the letters on “Liberty” are visible, it’s an extremely fine coin.
Metal supplies were scarce as the US was embroiled in the Civil War. As a result, the Mint started producing these beautiful old pennies using bronze halfway through the year. Advanced collectors covet this unique coin and can be worth quite a lot in good condition.
1802 Liberty Head Cent
This penny has been in circulation for over a century, so it’s rare to find one still in pristine condition. Those remaining in collectible condition are worth more than their face value. A pristine example of this coin sold at auction in 2018 for over $159,000.
This special coin was minted during the Civil War when metal supplies were tight. It’s also a rarity because it marked the transition from Flying Eagle to Indian Head pennies. Some of the coins have an ‘L’ mark on the ribbon, which is the initials of engraver James Longacre.
This coin has the lowest mintage of any Lincoln cent ever made. Its scarcity drives up its value. A pristine example was sold at auction in 2017 for over $150,000. This is a must-have for any collector of American history.
1803 Liberty Head Cent
When a coin changes, the first minting of the new coin can be especially valuable. The 1803 Liberty Head Cent is a great example of this. It features a smaller date than its larger sibling, and the tail of the upper loop is shorter and more curved than on the large date variety.
The coin also has a sharp, detailed design, which makes it worth more than its face value. Additionally, it was minted during the Civil War, so it represents a historic event.
The 1955 doubled die penny is another rare and valuable coin that is worth more than its face value. These coins are usually found in BN condition but can be more expensive in RB and RD grades. They are also very hard to find in circulated conditions. In 2016, one of these rare pennies sold for $282,000.
1804 Liberty Head Cent
The 1804 Liberty Head Cent is one of the most valuable pennies in existence. These large cents are very scarce, even in circulated grades, but they’re especially rare in mint condition. One of these rare coins sold for over $2.3 million in pristine condition at an auction in 2021.
It’s no wonder why this penny is so valuable: it depicts a Lady Liberty modeled on Gilbert Stuart’s portrait of Anne Willings, wife of wealthy arms and produce merchant William Bingham. As a result, it’s one of the most historically significant coins in the United States. It’s also a beautiful piece of art to behold.
1805 Liberty Head Cent
Despite being only one cent in size, this coin is worth millions of dollars. The 1805 Liberty Head Cent is also known as the “L on Ribbon” penny, as it features James Longacre’s initials on the ribbon. It was minted as part of the transition from larger “large cents” to smaller pennies and was incredibly rare. A well-worn example sold at auction for $161,000.
When looking through your change, keep an eye out for any rare pennies you might have. The value of a coin depends on many factors, such as its rarity and condition. The copper content of old pennies also carries some inherent value. Look for coins that have been minted in low quantities, as these tend to be worth more. You can also check for errors, which can increase a coin’s value. Look for things like a missing letter or a wide gap between the A and M in America.
1806 Liberty Head Cent
When it comes to valuable pennies, you have a few options. While most wheat pennies minted in recent years are only worth a penny, special editions can be worth more than that. For example, the 1943-S VDB Lincoln cent is a rare one-cent coin that features the engraver’s initials. These coins are very difficult to find because the Treasury Department removed them after a few hundred thousand were minted.
The best place to start when looking for a valuable penny is to check its mint mark and condition. A penny with a high mint mark is more likely to be in good condition and will have more value. Also, look for errors, like double dies, that can significantly increase the value of a coin. You can find these mistakes by examining the coin closely with a magnifying glass.
1807 Liberty Head Cent
This coin is not only one of the oldest pennies, but also it holds significant value for coin collectors. As World War II was underway, the US Mint switched to making all pennies from steel rather than copper in order to conserve supplies. As a result, some copper was accidentally left in the hoppers and mixed with the new material. The resulting 1943 Lincoln penny is worth more than $182,000 today.
This rare error coin is notable for heavy doubling on the obverse side of the coin, including the letters in the phrase “IN GOD WE TRUST.” There are only five known examples of this doubled die penny; one in uncirculated mint condition went for $2.3 million at auction. It is one of the most valuable errors in American coinage. Keep an eye out for it in your change!
1808 Liberty Head Cent
The 1808 Liberty Head cent is valuable because it’s rare. It’s a small date coin that features a 9 that is curved more to the left than a typical 9 and tapered toward the tail. This is a subtle detail that many collectors miss, but that makes this penny worth more money.
Pennies can also be valuable because they are part of a larger history. Look for pennies that were minted during major events, such as wars or pandemics, to increase their value.
Some pennies are even more valuable because they are made of a different material than they’re supposed to be. This happens when a mistake at the mint produces a new coin. A 1943 bronze penny that somehow slipped through the cracks in a transition from steel to copper is worth a fortune.
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