Find out What Makes This Penny Worth $1 Million (2024)

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Find out What Makes This Penny Worth $1 Million? ›

The president of GreatCollections.com, the site that auctioned off the piece, explained in a press release, "The million-dollar penny is known as a 'doubled die' and it is the finest of only three known 1958 U.S. cents that have severe doubling of letters in the motto 'In God We Trust' and the word 'Liberty' on the ...

A 1958 penny just sold for over one million dollars. The penny, which had a mistake shown on some of its letters, sold for a record $1,136,250.

Consigned to an auction by New York City collector Stewart Blay just weeks before he died, this mismade 1958 Lincoln cent with severe doubling in some of the lettering was sold for a record $1.136 million by GreatCollections of Irvine, California.

A report from Reuters notes that a rare 1792 American penny sold at auction for $2.6 million in 2015. Only 10 of the “Birch Cent” coins, named after their engraver Robert Birch, are believed to exist.

The U.S. made about 7.7 billion pennies in 1983, but only about 5,000 of them are known to have been made with this doubling error, James McCartney, director of numismatics at Stack's Bowers Galleries, tells CNBC Make It. The rarity of these misprinted pennies are what make them more valuable than ordinary pennies.

Most of the 1944 penny value comes from the depiction of President Abraham Lincoln on its obverse side. Along with the President facing right, the obverse side also carries the American motto of “IN GOD WE TRUST”, right above Mr. Linoln's head. To the left of the President's profile is the term “LIBERTY.”

The 1964-D penny is relatively common in circulated grades until MS64. In MS65, they become harder to find. In MS66 condition, they become rare, with maybe less than 1,000 available. The ones minted at Denver Mint were the only ones that had a mint mark that year.

One reason these coins are so valuable has to do with what they are made of. As GOBankingRates previously reported, any penny minted before 1982 contains 95% copper. Copper pennies are a relatively common find in a penny roll, which lowers their value.

The 1943 copper penny is worth more than its face value. Due to its rarity and unique composition, this coin can fetch a high price of $100,000 to $250,000.

The Lincoln penny was produced for many years, and is still being produced to this day. With that being said, there are a number of different types of Lincoln pennies that have been produced over the years. The 1958 Lincoln is especially valuable because it was the last year the Wheat Penny design was used.

What 1983 penny is worth $15000 today? ›

There's a rare 1983 copper penny (a 1983-D penny) worth $15,000 -- you could find one in your pocket change! Here's what to look for + Other rare copper pennies.

Mint used different dies to produce coins for general circulation and also produced special “proof” coins for collectors. But because of a mix-up at the Mint in 1992, a proof die was used for the reverse of the Lincoln penny a year before it was supposed to be used.

The 1982 penny might hold a hidden gem worth $35,000. Let's embark on a journey through its history, identification, market trends, and the thrill of discovering a valuable coin.

However, one exception is the 1999 “Wide AM” penny. In this case, the “AM” in “AMERICA” on the reverse side of the penny is spaced wider than usual. These pennies are relatively rare, and while they won't fetch thousands, they can still be worth up to $5 in uncirculated condition.

The 1982 Small Date Denver Mint 2.5 grams coin is a rare variety of the Lincoln cent. Its value can vary based on its condition and the current numismatic market.

For a Lincoln cent, however, the 1943 copper penny is extremely valuable, with circulated examples selling at auction in the past two years bringing between $240,000 and $336,000. The unique 1943-D copper penny is held in a longterm collection and carries an estimated value of over one million dollars.

There's A 1936 Wheat Penny Worth $5,000!

These pennies are collectible not only because of their age and historical significance, but because they are rare and growing rarer by the day. The coin's obverse features in the center the profile of former President Abraham Lincoln.