I'm seemingly one of the last human beings to pay for things with cash, and I mention this because there's nothing like the self-satisfaction that comes with dropping my change into the tip jar at my local coffee shop. I imagine jaws dropping in awe of my generosity as I plunk 37 cents into a jar and move on with my day, having done my part to heal the world.
Well, there's a slight chance that I may have been even more generous than I realized. Fox News reports that this past January, a penny from 1958 sold at auction for a record $1.136 million.
Related: This Is How Much Elvis Presley's Private Jet Just Sold for at Auction
Was this the most perfect penny ever minted? Quite the opposite. The penny is believed to be one of three made in 1958 that "have severe doubling of letters in the motto IN GOD WE TRUST and the word LIBERTY on the front of the coin," according to a statement issued by Ian Russell, president at GreatCollections Coin Auctions. That means the pennies were accidentally stamped twice during the minting process creating a blurred, double-letter effect.
A 1958 Lincoln, Doubled Die Obverse cent sold in a GreatCollections auction has become the first Lincoln cent and first non-gold 20th century coin to sell for more than a million dollars.
Read more of the Coin World Market Analysis by Steve Roach here: https://t.co/hz4IkNIIQj pic.twitter.com/XUMwUklOeL
Still don't understand why that would make it super-valuable? Neither do I. But here's the important part: other people do think they are valuable, and although rare, there is a chance you might have one in a jar, at the bottom of your bag, or on the floor of your car. Many double-stamped pennies have sold for thousands of dollars, depending on a few factors.
"The price of a doubled die penny can vary widely depending on factors such as the coin's condition, rarity and provenance," said coin collector Sean K. August, per Fox News. "Additionally, the historical significance of the error and the uniqueness of each coin further contribute to their value."
Related: Michael Jordan's Jersey Breaks Sports Memorabilia Record with $10.1 Million Sale
So our advice is to start rooting through piles of change you might have around your home, dump out your swear jar, and look for any pennies that make you feel like you're seeing double. And next time I buy some coffee, I'm asking for all of my change in pennies, please.
FAQs
That means the pennies were accidentally stamped twice during the minting process creating a blurred, double-letter effect. A 1958 Lincoln, Doubled Die Obverse cent sold in a GreatCollections auction has become the first Lincoln cent and first non-gold 20th century coin to sell for more than a million dollars.
What is the most valuable Lincoln penny? ›
At number one is the most coveted of all Lincoln cent error coins: the 1943 Bronze cent. Struck during World War II, this error coin was created at a time when the United States was producing cents from zinc-coated steel planchets as it diverted its copper stockpile for the war effort.
What is the most valuable 1964 D penny worth? ›
Uncirculated or “mint condition” 1964 Pennies are worth around $1 to $2, while circulated examples are worth around $0.01 or less. A single 1964 D penny can fetch more than $10,000 at auction. According to PCGS, a coin classified as MS68 SMS is worth a staggering $27,500.
What year is penny worth $20,000? ›
That's what happened to several pennies produced in 1982, which pushed their value up from 1 cent to nearly $20,000. The penny in question is the 1982-D Small Date Copper Alloy Lincoln Cent, which sold at auction in 2016 for $18,800, according to Numismatic News.
What penny is worth $250000? ›
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.
Why is the 1999 penny worth so much? ›
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.
Why are 1983 pennies worth more? ›
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.
What are the 10 most valuable pennies? ›
10 Most Valuable Pennies
- 1943-D Lincoln Bronze Wheat Penny — $2.3 million.
- 1944-S Steel Wheat Penny — $1.1 million.
- 1793 Strawberry Leaf Cent — $862,000.
- 1943-S Lincoln Cent Struck on Bronze — $282,000.
- 1909 VDB Matte Proof Lincoln Penny — $258,000.
- 1958 Doubled Die Obverse Cent — $224,831.
- 1856 Flying Eagle Cent — $172,500.
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.
What to look for on a 1964 SMS penny? ›
The special finish for the 1964 SMS Lincoln cents is characterized by a nice, smooth, satin-like finish. The fields are usually well struck, very clean and tend to come without any major nicks or scratches. The edges for most 1964 SMS coins also tend to be square and sharp.
Price Chart
| Mint Mark | MS65 | MS66 |
|---|
| 1964, Brown (Regular Strike) no mint mark penny value | $2 | $1 |
| 1964, Red & Brown (Regular Strike) no mint mark | $4 | $40 (66+) |
| 1964, Red (Regular Strike) no mint mark | $22 (65+) | $65 (66+) |
| 1964-D, Brown (Regular Strike) | - | - |
2 more rowsFeb 27, 2024
1943 Wheat Penny (Bronze Cent Strike)
Most can be bought and sold for anywhere from $14,000 to $300,000.
What year is the most wanted penny? ›
According to stats from the money measuring site, whose database consists nearly entirely of coins from the years 1880s through 2024, pennies minted in 1943 and 1944 come in at No. 1 and No. 2 on the list.
Why is the 1992 penny so rare? ›
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.
Is there a penny worth 1 million? ›
Retiring on the Reg w/ Jillian Johnsrud #815
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.
Is there a coin worth 1 million dollars? ›
1943 Bronze Lincoln Penny. Now we're getting into some serious money. The 1943 Bronze Lincoln penny has gone for hundreds of thousands of dollars, but it could go for as much as $1 million in perfect shape, according to Urban Aunty — as long as it's missing a mint mark (and thus from Philadelphia).
What rare penny sold for 1.7 million? ›
As Fortune reported, in 2010, a different 1943 penny created with a bronze planchet sold for $1.7 million. "This lot represents a true 'once in a lifetime' opportunity," said Heritage Auctions, which estimated it could sell for $170,000 or more.
