People have been collecting coins since ancient Rome. Some do it for fun. Others do it with the intent to sell these coins for a profit. Even the penny.
Like most coins, the United States penny has seen multiple designs and compositions over the years, and some pennies, especially when carefully stored, are worth far more than the face value of one cent.
These are the 20 most valuable pennies, and they’re worth a combined $5.5 million.
How to Determine the Value of a Penny
Standards have been developed to evaluate coins. A modified version of the Sheldon Scale, which grades coins on a scale from 1 to 70 (with 70 being the most valuable), is commonly used. Qualities such as color (red pennies are worth more than red-brown or brown ones), wear and rarity (including smaller numbers minted or mistakes) impact a coin’s grade.
For most pennies, those minted in recent years are worth, well, a penny. Most wheat cents (wheat pennies were minted between 1909 and 1956) are worth about 4 to 5 cents. Those in better condition can have double-digit values. Special examples (especially those in near-perfect condition) can be worth much more. Indian Head pennies from 1859 to 1879 are generally worth more than $10. And pennies dated from 1879 to 1909 are worth at least $1.
Then, there is another level. This is the elite class of valuable collectibles.
20. 1873 Doubled ‘Closed 3’ Indian Head Penny
Bottom Line: 1873 Doubled ‘Closed 3’ Indian Head Penny
This coin is also more valuable due to doubling, as seen in the word “LIBERTY.” There were only about 1 million of these “closed 3” coins and about 11 million “open 3” coins.
The open and closed designations refer to the amount of space in the number “3” on the coin, depending on which variety of the numeral was used in the die.
One of these with a red-brown coloration and in almost uncirculated condition sold at a Heritage Auction in Pittsburgh, Pennsylvania, in October 2011.
19. 1793 Flowing Hair Liberty Cap Large Cent Penny
Sold on eBay: $19,950
Weight: 13.48 grams
Metal: Copper
Bottom Line: 1793 Flowing Hair Liberty Cap Large Cent Penny
The Flowing Hair large cent was produced starting in 1793. The Liberty Cap style was the third version of the Flowing Hair coin.
It was introduced late in 1793 and was produced until 1796 when it was replaced by the Draped Bust type.
Because of its rarity, even with smoothed surfaces, this one sold on eBay in January 2019 for almost $20,000.
