These pennies could be lost in the vast sea of your pocket change waiting for an educated coin expert to auction it off for hundreds of thousands
A handful of rare coins, which remain in circulation today, can value at 100,000 times its perceived worth of one cent.
When an ordinary-looking penny was discovered among the belongings of a guy called Don Lutes in 2019, it made news. The auction company, Heritage Auctions, reports that the 1943 bronze Lincoln cent sold for $204,000 after drawing close to 30 bids. The coin belonged to Lutes until his death in 2018. He relegated it to Heritage due to his deteriorating health. The Dallas, Texas-based auction company stated that the sale’s proceeds were donated to the Berkshire Athenaeum in Pittsfield, Massachusetts, his hometown.
A penny’s value is determined by its rarity and quality. Even while the majority of pennies are only worth a few dollars, some that are highly sought-after may be in your pocket or concealed in the cushions on your couch.
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Raw examples of the double die coins were selling for up to $300 each when they were first found(Image: Getty Images)
1943 Steel Penny
As of 2024, a 1943 steel penny’s value usually falls between 20 cents and $20, contingent on its mint mark and condition. The 1943-D steel penny with a doubled mintmark is one example of a rare mistake coin that can fetch several hundred dollars. A 1943 steel cent sold for $218,500 at auction, the highest amount ever. Always look for special characteristics or mistakes on your 1943 steel pennies that might sell for much to $500. To find out the current worth of a 1943 steel cent, read this article.
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Steel pennies are Lincoln Wheat cents minted in 1943. In order to conserve copper and aid in the World War II effort, the U.S. Mint created Lincoln Wheat cents in 1943 using steel instead of copper. The mint started utilizing the common copper composition for coins again in 1944.
1995 Doubled Die Penny
A well-preserved coin might fetch roughly $75,000 in value(Image: Getty Images/Tetra images RF)
The doubling is extremely evident in the word “LIBERTY,” particularly in the letter “B,” even though it isn’t as noticeable as it is on the 1972 Doubled Die coins. The date has some light doubling as well. “These are one of the easiest valuable pennies to find,” coin expert James Bucki told CNBC said. “I’ve found one myself.”
Raw examples of the coins were selling for up to $300 each when they were first found. Many more instances were found over time, and the prizes for each coin decreased to as low as $20 or less.
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1969-S Doubled Die Penny
Doubled dies are produced when a die, also known as a stamp, is misaligned due to the hub imprinting an extra image onto it. Bucki told CNBC that errors in the minting process are the cause of the doubling.
According to him, the words “LIBERTY” and “IN GOD WE TRUST” on the 1969-S Doubled Die Obverse have the most doubling. A coin’s obverse, which typically features a portrait, is referred to by collectors as the front or “heads” side. Additionally, notice the letter “S” immediately beneath the year 1969, indicating that it was produced at the San Francisco Mint.
A well-preserved coin might fetch roughly $75,000 in value. According to Coin World, a well-known news and research website for collectors, one sold for $35,000 in 2019.
