The simple Lincoln Penny used in our everyday life can sometimes prove to be a priceless treasure. Usually the price of a penny is just 1 cent, but there are some rare Lincoln pennies, whose total value has been estimated to be more than $350 million and they may still be present in common transactions.
These rare coins not only have historical importance, but there is a huge demand for them among collectors. If luck favors you, then a simple coin lying in your pocket may prove to be worth crores! Let’s know about those 8 rare Lincoln pennies, whose value can make you rich.
1. 1943 Copper Penny – $11.2 Million
In 1943, during World War II, the US issued steel coins to save copper, but by mistake, about 20 coins were minted on old copper planchette’s. Today, only about a dozen of these rare coins exist.
This MS-64 grade coin was sold for $11.2 million (approximately Rs 930 crore) in 2021. If you also have a 1943 copper coin, place it near a magnet—if it doesn’t stick and weighs around 3.11 grams, you could be a millionaire!
2. 1944 Steel Penny – $158.5 Million
Copper pennies were being made in 1944, but by mistake some coins were minted on steel plates left over from the previous year. Only 7 such coins have been discovered so far.
This MS-64 grade coin was sold for $158.5 million (about Rs 13,200 crore) in 2023, which is the highest price ever for American coins. The specialty of this coin is that it is silver-colored compared to the normal copper penny and sticks to the magnet.
3. 1958 Double Die Obverse – $85.7 million
In 1958, a printing error (double die error) occurred on some pennies, due to which the letters and date on the coin appeared in double image.
The authenticity of this coin was proven in 2008, and in 2022 its best specimen was sold for $85.7 million (about Rs 7,150 crore). So far only 3 such coins have been found, but it is estimated that 5-7 coins are still in circulation.
4. 1972 “Floating Roof” Lincoln Memorial Cent – $42.3 million
A unique mistake made in 1972 makes the roof over the Lincoln Memorial appear to float isolated on the coin.
Only 5 such coins have been found so far, and the rarest copy of it sold for $42.3 million (about Rs 3,530 crores) in 2024. It is easily identifiable because the mistake is clearly visible.
5. 1969-S Doubled Die Obverse – $35.8 million
On some coins issued by the San Francisco Mint in 1969, the image of letters and numbers was doubled. About 30 such coins have been discovered so far, and the rarest copy of it sold for $35.8 million (about Rs 3,000 crores) in 2021.
If you find a 1969 coin, take a close look at the image—there should be obvious doubling on the “LIBERTY” and “1969.”
6. 1992 “Close A.M.” Reverse – $8.9 million
In 1992, the proof coin’s design was mistakenly used on a regular penny, causing the “A” and “M” in the word “AMERICA” to be spaced less than normal.
Only 15 coins have ever been discovered, and a rare specimen sold for $8.9 million (roughly Rs. 750 crores) in 2019. The mistake is so subtle that it requires a magnifying glass to see it.
7. 1974 Aluminum Penny – $5.8 Million
In 1974, the US Mint made about 1.5 million aluminum pennies to deal with rising copper prices, but Congress rejected the proposal and ordered the coins to be destroyed.
However, some of these coins survived, and only about 12-14 have been found so far. In 2016, one of its coins sold for $5.8 million (about Rs 480 crore).
8. 1909 VDB Matte Proof – $1.8 Million
Some special proof coins made in 1909 had a grainy surface and were issued in just 25 copies.
One of these coins went into circulation during the Great Depression and has not been found till date. If it is found, it could be worth up to $1.8 million!
How to know if you have a rare penny?
If you want to find a priceless Lincoln penny hidden in your pocket or piggy bank, keep these things in mind:
- ✅ Look for important years – Pay special attention to coins of 1943, 1944, 1958, 1969, 1972, 1974 and 1992.
- ✅ Look in good light – Examine the coin in bright light to catch mistakes like double dies.
- ✅ Use a magnifying glass – It will help to catch subtle mistakes like “close am”.
- ✅ Check with a magnet – A real steel coin of 1943 will stick to a magnet, but a real copper one will not.
- ✅ CHECK THE WEIGHT – A genuine 1943 copper penny will weigh 3.11 grams.
If you find a rare penny, keep it safe and get it appraised by an expert. Who knows, that humble coin in your pocket might make you a millionaire!
FAQs
Q1. How can I tell if my 1943 penny is valuable?
A genuine 1943 copper penny is not magnetic and weighs 3.11 grams. If it sticks to a magnet, it’s a common steel penny.
Q2. What makes the 1944 steel penny so rare?
Only a few were mistakenly struck on leftover steel planchets from 1943 instead of copper, making them extremely rare and valuable.
Q3. How do I check for the 1992 “Close AM” penny?
Look at the word “AMERICA” on the back. If the “A” and “M” are very close together, you may have a rare 1992 Close AM penny.
Q4. Are these valuable pennies still in circulation?
Yes, while rare, some of these pennies could still be found in circulation, especially in old coin collections, jars, or piggy banks.
Q5. Where can I sell a rare penny?
You can sell rare pennies through auction houses, coin dealers, or online marketplaces like Heritage Auctions or PCGS. Always get your coin authenticated first!