Ever since the early times, people have not only used money to purchase necessities. Some have gotten into the habit of collecting coins. Their purpose may either be out of leisure or to make money.
Like most coins, the United States penny for example, has been redesigned multiple times ever since it was created. The earlier versions of the design are now more valuable than you could ever imagine. And this has prompted the need for coin collectors to take possession of these old coins.
In the next slides, you will learn of the 20 most valuable pennies in the United States with a total net value of at least $5.5 million.
1873 Doubled ‘Closed 3’ Indian Head Penny
This 1 Cent coin was first created in 1873 and has two variations. Only one million of these coins were created with “closed 3” and about another eleven million with “open 3” versions. What makes the coin more valuable is also due to the fact that the word LIBERTY on the front has a doubling design.
Heritage Auctions, HA.com
So, you might ask, what’s the difference between an open and closed 3? Avid coin collectors would immediately answer that it’s all about the “space” in the number 3 on the coin’s year and also would depend on the type of numeral that was used in the die.
One of these coins that had a Red Brown color in almost uncirculated condition was sold at an auction for about $12, 650 in 2011.
1793 Flowing Hair Liberty Cap Large Cent Penny
When you thought that a cent’s face value is no more than what it is, then you’re mistaken. Considered a very rare piece, this one-cent copper coin was minted in 1793, the very year that the US had started production of its own coins. According to a senior numismatist at Heritage Auctions in Dallas, there are only about 500 pieces of this penny in existence which would explain its rarity.
PCGS
Just last month, this rare 1793 penny was sold for $300,000 at the annual Florida United Numismatist convention. In January of 2012 at the same convention, another one of these rare coins sold for a whopping $1.38 million. The coin was also in excellent shape, with no visible wear on the lettering whether it be the Lady Liberty face or the wreath on the back.
1922 Lincoln No D Strong Reverse and Weak Obverse Wheat Penny
The 1922 “No D” Lincoln Cent is one of the most sought-after dates in the series but is also one of the most to be forged and misidentified. This coin in particular is characterized by a lack of a mint mark on the face of the coin. Unlike the 1922-D Lincoln, No D, Strong Reverse, Die Pair 2, the reverse image on this coin is not as sharp.
Heritage Auctions
As reported by Heritage Auctions, one of these coins was sold in excellent condition for $48,000 back in 2018. It was graded MS63 Red from PCGS. The coin was the second finest rare graded coin known and displays all the characteristic die markers.
1922-D Lincoln, No D, Strong Reverse, Die Pair 2
Back in 1922 when a few coins had damaged dies at the Denver Mint, it resulted in coins struck without a mint mark. While Philadelphia had fabricated coins without mint marks, the Denver branch mint was the only facility that was striking pennies in the same year. The branch was pressured into making these coins that they ended up damaging the dies on the coins.
PCGS
In March of 2018, a red coin in mint condition had sold for $63,000. It was given a grade of MS64RB from PCGS. Many avid coin collectors would have you believe that the Die Pair II is highly regarded as the only “true” No D variety of the 1922-D.
1914-S Lincoln Penny
There is no mistake that the Lincoln pennies you see on this list are rare, especially this coin in particular. In 1914, over 4 million of these coins were minted in San Francisco. So you may ask, what makes this coin extremely valuable? Simple. The way that it was kept in pristine condition despite a century that has passed.
Heritage Auctions
Bowers Merena sold this penny back in 2006 in its original bright red color for a whopping $105,800. Experts say that for a coin to survive this long in the condition that it’s in, it must have been set aside and stored properly to preserve the color. Coins that are in this particular condition are very rare therefore they are truly valuable.
1944-D Lincoln Penny
This penny is considered to be another mistake, just like the Die Pair 2. It was struck on a zinc-coated steel planchet or what we know as a coin blank used in 1943. In the same year that it was minted, they went back to using copper planchets.
Heritage Auctions
While these zinc coins came from both the Philadelphia and Denver mints, it is said that there are only about 10 of these coins made in Denver. As recorded by Heritage Auctions, one of these rare coins sold for $115,000 back in August 2007. This stray planchet has gained so much attention thereby creating such a great need for coin collectors to own one of these and they are even willing to pay huge amounts to get it.
1969-S Lincoln Penny Doubled Die Obverse
Because of the type of metal that was used, Lincoln pennies that were minted in the years between 1959 and 1982 tend to be worth so much more because they are made from almost 100% copper rather than the usual alloy. Before, it was considered imperfections in coins when they had this doubled-illusion image. A major cause as to why this happens is because of improper dying.
Heritage Auctions
The most popular of these coins were made in 1955 but there were also a couple of years when this happened. The government first thought that they were fake which led to destroying the first five versions of the coin prior to acknowledging that it was indeed a human error. Back in 2008, a doubled die obverse uncirculated penny that was red-brown in color was sold for $126,500.
1872 Indian Head Penny
The 1872 Indian Head Pennies were struck in similar quantities with the 1871 version of the coin. It is said that there were about 4 million of these coins produced. But because of the economic difficulties at the time, many collectors weren’t able to save these and therefore the majority of the coins went into circulation.
Heritage Auctions
This coin was sold for $126,500 by Heritage Auctions in Milwaukee back in August of 2007. What boosted the value of the penny was its pristine condition that combines a nearly flawless coin with a sharp strike from a fresh set of coin dies. To add to its rarity, its bright red-copper color only goes to show that it was well-preserved by whoever decided to keep the coin from the start.
1926-S Lincoln Penny
At first glance, you would think, why would anyone bother with this coin? It looks so plain. As obvious as it is, this coin deems to be uncirculated and retains the original color of red-copper from when it was minted. But what avid coin collectors can tell you is that it is the date that is on the coin and the mintmark combination is what makes this coin very unique.
Heritage Auctions
One factor that deeply contributes to this coin’s value is the extremely low mintage. There are only nine other Lincoln wheat pennies that have a lower mintage. This one coin in particular was sold for $149,500 back in January 2006.
1877 Indian Head Penny
While there are many other versions of the Indian Head pennies, this coin is by far the rarest date. The economic downfall that occurred in 1873 still continued on in 1877 thereby forcing most of the coin collectors at the time to use the coins to make ends meet. So, saving this particular penny back then was not even an option.
PCGS
Although compared to the 1909-S Indian Head penny that had smaller mintage but many were saved in uncirculated condition, the 1877 version was far too valuable. To take possession of the 1877 Indian Head penny in an uncirculated condition means that it is worth so much more given that the economic conditions at the time were far too harsh. This particular penny in its original copper-red color in excellent condition sold for $149,500 back in August of 2007 in Milwaukee.
1914-D Lincoln Penny
The 1914-D had a lower mintage at only about 1.2 million coins. While compared to the 1909-S that had a much lower mintage, much of its coins were saved in pretty large numbers contributing to how “common” the 1909-S coin was. Majority of the 1914-D coins were heavily circulated at the time, as the coins were used in “coin boards” back in the 1930s and 40s.
Heritage Auctions
While you see some coins of this version are all in Mint states, very few are seen in the original Red designation. This coin was sold for $158,625 and has a lovely satin-like sheen with sold-definition to the details. There are also no distracting marks or flecks to this coin which adds to its value.
1864 Indian Head Penny With ‘L’ on the Ribbon
Back in 1864 when the Civil War was far from a standstill and the US economy was taking a plunge, many citizens had resorted to hoarding precious metals like gold, silver and copper coins to preserve their wealth. Because of this, the government was finding it hard to obtain the metals needed for minting coins. This coin in particular was designed by mint engraver James B. Longacre and was first issued in 1859 but about halfway through the mintage in 1864, an “L” was added to the tail of the ribbon on Lady Liberty’s head.
Heritage Auctions
To own a coin in an excellent and uncirculated condition is something that is very rare and very valuable. One of these pennies had been sold back in October 2011 in Pittsburgh by Heritage Auctions. It was valued at $161,000 with a grade of PR-65 from PCGS.
1856 Flying Eagle Penny
In 1856, the price of copper costed more than a penny’s worth. Before this, pennies were as big as half-dollar coins. To lower the impending costs of purchasing copper, the US mint reckoned that it was best to reduce the size of the penny to what we now know. However, the change needed the approval of the Congress and so the mint produced a limited batch of about 800 pieces to present them to lawmakers.
Heritage Auctions
Regardless of whether or not you get a circulated or uncirculated condition, having this coin nonetheless is extremely rare. When an example as this coin that was sold back in January of 2004 with a grade of MS-66 comes by, it is certain to provide great value to your collection. It was sold for $172,500.
1943 Bronze Lincoln Penny
This coin version was mistakenly minted in bronze instead of the standard zinc-coated steel, which was needed in order to save on copper and bronze to fill metal shortages during WW II. Not much is known as to why the government tried to deny the existence of these coins. An estimated number of about only 10 to 15 examples of a 1943 bronze Lincoln cents are known to exist thereby creating rarity in this version.
Heritage Auctions
This rare coin version was first discovered back in 1974 when a teenager found the coin in his pocket change from a high school cafeteria. Because of the limited number of these bronze pennies existed, this bronze coin was sold for the first time by Heritage Auctions in January 2019 for $204,000. Back in January 2013, another 1943 bronze penny in its original copper-red color was sold for $164,500 by Stack Bowers Galleries.
1909 V.D.B. Matte Proof Lincoln Penny
Like the 1909-S VDB version, this coin in particular bears three of the coin designer’s initials – “VDB.” These coins were minted in the Philadelphia Mint before the Treasury Department ordered that the designer’s initials be removed from the penny. There are only about 1,194 of these coins to exist.
Heritage Auctions
How this coin was minted made this coin version very rare. The other colors that you see on the coin are a result of the coin being stored for a century. This makes the coin very valuable and attractive to collectors. It was graded PR-67 from PCGS and sold for $258,500.
1943-S Lincoln Cent
Like the other previous Lincoln coin on this list, this coin was mistakenly struck on a bronze planchet instead of the usual zinc-plated steel planchet. There are only six known samples of this fault that was produced at the San Francisco mint back in 1943. This coin ranks the second-lowest number of the 1943 Lincoln pennies that were struck in bronze planchets.
Heritage Auctions
This coin was sold at Heritage Auctions in Long Beach, California in February of 2016. It is thought to be the second finest certified 1943-S bronze cent to surface. It was sold for $282,000 with a grade of AU-58 by PCGS.
1958 Doubled Die Obverse Lincoln Penny
We’ve already established that doubled dies are the result of faults in the minting process. This fault then causes a “doubling” effect on the face of the penny. This particular coin is only one of three to exist, so it is extremely rare.
PCGS
What adds to the coin’s value is the fact that it has maintained its red color. It was sold at Stacks Bowers Galleries Auction in Baltimore last March 2018. It was valued at $336,00 with a grade of MS-64 RD.
1944-S Lincoln Steel Penny
It was in 1944 that Lincoln pennies were reverted to the original bronze alloy. It was made of 95% copper and 5% tin. However, for some unknown reason, there were two zinc-plated steel planchets that ended up being minted in San Francisco.
Heritage Auctions
This coin that was sold in August 2008 was not only in uncirculated condition, but it was so well-preserved and shows very little bag marks from the minting process. It was valued at $373,750 with a grade of MS-66 by NGC. The coin was struck in almost a perfect way as seen by the details on the coin.
1943 Bronze Lincoln Penny
This coin is very rare and was created by mistake in 1943 when the US mint was striking Lincoln pennies from zinc-coated steel. Back then, a few bronze planchets were left over and managed to get struck by mistake thereby creating this valuable and sought-after variety in the Lincoln penny series. While there were other bronze coins produced at this mint, this coin is the only certified “red” penny of this year from the Philadelphia Mint.
PCGS
This coin above was sold in a private transaction at the 2018 Florida United Numismatic Convention in Tampa. It was graded MS-63 Red by PCGS. It sold for over $1 million, which makes it the second Lincoln penny to ever be sold for more than $1 million.
1943-D Lincoln Bronze Penny
After reading the last nineteen entries on this list, we can conclude that through accidents, the rarest coins are produced. It is thought that there is only one known example of this 1943 Lincoln penny that was struck in bronze alloy at the Denver mint. Most coins at the time were only either being produced in Philadelphia or San Francisco. So there are no records of any other coins being minted in Denver (indicated by the letter “D” on the face of the coin).
Heritage Auctions
This one-of-a-kind coin was sold for a huge $1.7 million by Legend Numismatics of Lincroft, New Jersey. Nobody was aware of this coin until it surfaced in 1979. It was graded MS-64 BN by PCGS.