Don’t toss out your old pennies! They could be worth hundreds of thousands of dollars! How? Avid coin collectors pay a lot for old and unique coins, making them worth thousands of dollars. They are decades old and have both historical value and monetary worth.
Therefore, before you throw away your old pennies, check to see if they are the rare kind that collectors will pay highly for.
Old Coins
Every old coin has a history behind it. Some of these old coins were also not produced for a long time, thereby increasing their value. Those not produced in large quantities also serve as collectibles for people who appreciate their rarity and historical value.
Therefore, if you are cleaning out an old house or attic and come across some old coins, you should check them for their value. You might just get lucky!
Rare and Valuable Pennies
The worth of a penny depends on two factors. First, the quality of the penny is very important. Bronzed pieces are usually highly valued, especially if they were produced decades ago.
Second, the coin’s rarity is very important in determining its value. Coins that are scarce and harder to find are typically sold for much more than those simply older. Here are some coins and their estimated value.
The 1792 Birch Cent
The Birch Cent coin was the first set of coins made in the U.S., even before the country started minting pennies in 1793. Therefore, it is scarce to find one.
It was named after Robert Birch, and one rare coin was sold for a whopping $2.6 million in 2015. The coin was relatively large, about the size of a quarter. Only 10 known coins are still available.
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The 1943 Bronze Lincoln Penny
The 1943 Bronze Abraham Lincoln Penny is another coin worth millions of dollars. During World War II, the U.S. Mint stopped making pennies from copper and switched to steel to save its copper for war. However, they accidentally left some copper in the hoppers.
The first few pennies that the mint produced were made of a mixture of steel and copper. They are quite rare, and one of them sold for $1.7 million in 2010.
The 1793 Strawberry Leaf Cent
Another “large cent” is the 1793 Strawberry Leaf, which is also highly valuable. Due to its rarity, the last known piece was sold for almost $863,000 in 2009. It is one of the four types of coins produced by the U.S. Mint during its first year of operation.
If you ever find this old coin, it may appear in rough condition. However, it will still be worth a lot of money for collectors.
The 1793 Liberty Cap Wreath Cent
The Liberty Cap Wreath Cent was also a “large cent” in its time. In 2004, a piece was sold at about $391,000 at an auction. It shows Lady Liberty with a modest cap and a wreath on the back. Very few of these coins were made because it was at the time of the yellow fever epidemic in Washington.
Sadly, the epidemic also took the life of the engraver, Joseph Wright, further raising its value.
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The 1944 Steel Lincoln Penny
Just like those aforementioned pennies from 1943, there was a mistake in 1944. After they switched back to using copper again the following year, a San Francisco mint made a mistake and used steel instead.
Therefore, about 30 pennies were made from steel. According to CoinTrackers, these rare pennies are worth about $375,000 when they are in excellent condition. They also have a standard Lincoln penny design and a wreath on their back, but the steel color is quite noticeable.
The 1958 Double Die Lincoln Penny
In 1958, an error caused by a double stamping of the Lincoln penny occurred. Only three sales are known in collectible condition, and one rare find that was almost in mint condition was sold for about $336,000 in 2028.
The overlapping words on the coin are visible, and this is one of the most valuable Lincoln double-die coin errors. You might want to whip out a magnifying glass to check if any of your old coins fit this description!
The 1909 VDB Proof Lincoln Penny
A Matte Proof penny was created in 1909 but was never intended for circulation. According to research, the initials of the coin designer, VDB, were stamped on the back. Now, it is a rare find as there are only about 200 examples known in existence.
Due to its rarity, an auction sold one for almost $269,000 in 2014. It also features rare rainbow oxidation over time, greatly influencing its value.
The 1856 Flying Eagle Cent
In 1856, the U.S. Mint transitioned from “large cents” to a much smaller design. Therefore, they commemorated this massive shift by creating a limited edition of about 4,000 coins for members of Congress and collectors.
Since this was well over a century ago, it is rare to find one, and even rarer to find one in near-mint condition. In 2004, one in great condition was sold at an auction for almost $173,000.
The 1864 Indian Head Penny With L
Another rare coin is the 1864 Indian Head penny with an “L” on it. This coin was designed during the Civil War with bronze, as metal was hard to get at that time. Therefore, the U.S. Mint modified the design by adding an “L” to the ribbon of Lady Liberty’s war bonnet.
Five million of these pennies were made, but most have not been seen since. One piece was sold at an auction some years ago for $161,000.
The 1914-D Lincoln Penny
The 1914 Denver Mint Lincoln penny is another rare coin. While the 1917 Penny is rare, the D Lincoln penny is more unique and valuable. It is extremely difficult to find one that is uncirculated and in mint condition.
However, Legend Auctions found an uncirculated piece back in 2018 and auctioned it for about $159,000. Therefore, before you throw away any of your old coins, whip out a magnifying glass and check if it is an old, rare, and highly valuable find!
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