A few minuscule copper fragments can be worth several hundred thousand dollars. The values of the world’s rarest and most coveted pennies approach $2 million and significantly exceed $100,000. However, rarity plays a substantial role in determining the value of a penny.
Another factor is condition; coins that were not in circulation at the time may have retained their original hue and intricate details, which would substantially increase their value. Additionally, certain coins acquire more excellent value inadvertently, as with the 1943 Lincoln pennies, which were cast in bronze instead of steel.
In conclusion, demand is the primary driver of value. Almost all coin collectors in the United States initiated their collection with the Lincoln cent. The majority of them withdrew the coins from circulation.
What Is The Penny?
The penny is the one-cent coin of the United States. The individual depicted on the obverse (heads) of the cent is our sixteenth president, Abraham Lincoln. He has maintained a cent since 1909.
At present, the reverse (tails) features a Union Shield design. Since 2010, it has been on the cent. Thirteen stripes symbolize the thirteen original republics on the shield. The bar spanning the summit of the diagram represents the federal government and Congress.
The bar prominently showcases the national motto, “E Pluribus Unum,” which translates to “one from many.” The shield design represents the United States as a unified nation, which President Lincoln maintained.
How To Identify Pennies Worth Money?
Despite being one of the most minor coins in circulation and lacking any bullion value, penny collectibles remain highly sought after. Although the majority of these coin series comprise valuable copper, even so, they remain among the most cherished collectibles.
Naturally, this raises the question of which pennies have been the most valuable throughout the 20th century. (Before this date, the large cent, Flying Eagle cent, and most Indian Head pennies are not included.)
Most Lincoln Wheat cents from the 1930s, 1940s, and 1950s are only worth a few cents each. Additionally, worn Lincoln Memorial cents minted between 1959 and 1981 are copper-valued and worth approximately two cents. Since then, Lincoln’s stamped cents have generally been valued at face value.
What Is The Most Expensive Penny?
Numerous individuals keep coins in a container at home and enclose them in plastic to use as spending money. However, were you aware that certain quarters strewn about your residence may be worth more than their nominal value of one cent?
The Most Expensive Pennies
Ten of the most expensive pennies to seek out are:
- 1943-D Lincoln Bronze Wheat Penny — $2.3 million
- 1793 Strawberry Leaf Cent — $862,000
- 1944-S Steel Wheat Penny — $408,000
- 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
These pennies, which Victor D. Brenner designed, are currently among the most valuable in circulation. Constructed from an alloy consisting of 5% tin and zinc and 95% copper, it was valued at $2.3 million in uncirculated immaculate condition despite selling for $1.7 million in 2010. It was recently auctioned off for $840,000.
Although only one copy is believed to exist, additional examples of the coin may fetch prices of $100,000 or more. Taking any 1943 wheat pennies you possess to a coin dealer to determine their value would be worthwhile.
2. 1793 Strawberry Leaf Cent — $862,000
In 2009, the Strawberry Leaf penny sold for $862,000 at an auction. This amount set a new benchmark for the highest price ever paid for a penny. The Strawberry Leaf cent is uncommon; rather than the standard three-leaf trefoil, it has a four-leaf strawberry plant on its tail.
Since only four of these coins exist, anyone who discovers one would be highly fortunate. A better fortune would be not to find a four-leaf clover.
3. 1944-S Steel Wheat Penny — $409,301
This dime is worth a fortune because it eluded the 1944 transition from steel-coated zinc to copper. There are only two remaining specimens of the San Francisco-minted version. Circulating coins, in typical condition, are valued between $408,000 and $409,000.
4. 1943-S Lincoln Cent Struck On Bronze — $282,000
In 1943, the United States moved away from bronze pennies. However, a few bronze planchets and designless coins might have been abandoned, creating scarce and valuable 1943-S bronze pennies. One of these quarters was auctioned off in 2016 for $282,000.
5. 1909 VDB Matte Proof Lincoln Penny — $258,000
In general, the value of older coinage increases with their age. Collectors typically hold matte-proof coins in the highest regard, and this particular 1909 VDB variant is the most coveted.
The square, sharp-edged borders and the attention to detail determine its authenticity. This uncommon 1909 coin was sold for $258,000 at auction. It is distinctive because the designer’s initials, VDB, appear at the bottom.
6. 1958 Doubled Die Obverse Cent — $224,831
More than doubled, few Obverse pennies were ever minted, which caused them to fetch some of the most exorbitant prices at auction. An indicator of one is the “doubled” lettering that appears between “In God We Trust” and “Liberty.”
Additionally, the 1958 edition features a date that is marginally duplicated. The value of an uncirculated specimen of this coin is $224,831.
7. 1856 Flying Eagle Cent — $172,500
Despite not being as uncommon as Lincoln cents from 1943, Flying Eagle cents are still valued at more than six figures. During the initial minting, over 600 coins were presented to legislators and others; however, in 1858 and 1859, further coins were re-struck from the original dies. The value of these coins may vary between $4,500 and $172,500.
8. 1864 Indian Head Penny “L” On Ribbon — $161,000
In 1864, following the issuance of the Flying Eagle Cent, the federal government adopted the Indian Head Penny. Like VDB, whose initials appeared on the reverse side of Lincoln pennies, Indian Head designer James Longacre began affixing an L to the Ribbon to represent his surname by the end of 1964.
One of these cherished and coveted pennies sold at auction for $161,000. Even if one of these rare coins is in less than impeccable condition, it can still fetch approximately $40.
9. 1914-D Lincoln Penny — $159,000
Lincoln Cents that were struck in circulation from 1909 to 1958 are highly coveted by collectors. Limited to 1.2 million minted, the 1914-D coin is exceedingly rare. On eBay, these pennies can be found for hundreds to thousands of dollars; however, one of the more expensive coins in pristine condition was sold for $159,000.
10. 1926-S Lincoln Penny — $149,500
It would be prudent to inspect one’s belongings for Lincoln wheat pennies, as these coins often fetch a premium over their face value despite not being in perfect condition. However, discovering a crimson Lincoln penny from this era could prompt you to plan the luxury vacation of your dreams. A mint 1926-S Lincoln Cent retaining its crimson surface was auctioned off in 2006 for $149,500.
How Do You Know If A Penny Is Valuable?
There are pennies worth hundreds of thousands or even millions of dollars on the list above. However, remember that numerous factors influence the value of a penny. To begin with, rare coins produced in lesser quantities may increase in value decades or even centuries from now. An exceptionally well-preserved rare coin may be valuation-enhancing.
Collectors and numismatics experts utilize the Sheldon Scale to grade coins from 1 to 70, with coins receiving the maximum value at 70. Color, wear, and scarcity are all factors that influence the grade and value of a coin. In conclusion, a penny is valuable only if someone is willing to pay you its value.
In conclusion, the 1943 copper penny serves as evidence of a singular juncture in the history of the United States Mint, wherein a fortuitous combination of minting error and wartime exigency produced one of the most highly sought-after coins in the field of numismatics. In addition to its intrinsic worth, it represents a lasting part of American history and embodies the appeal of coin collecting. An authentic 1943 copper penny signifies a scarce collectible and an extraordinary account of fortuitous events and historical significance encapsulated in a miniature copper coin.
Thank you for reading….
Read more: What Do You Know About Penny?
