Finding an extremely valuable penny is the dream of many coin collectors and enthusiasts around the world. With over 300 billion pennies produced by the United States Mint since 1787, some stand out as extremely rare and valuable to collectors. But realistically, what penny could possibly be worth $50,000 or more?
The Most Valuable Pennies
Here are some of the most valuable and rare pennies that exist today:
- 1943 Lincoln Wheat Penny – $50,000 to $100,000+
- 1944 Steel Lincoln Penny – $75,000 to $100,000+
- 1909-S VDB Lincoln Cent – $10,000 to $50,000+
- 1914-D Lincoln Wheat Penny – $10,000 to $50,000+
- 1931-S Lincoln Wheat Penny – $3,000 to $12,000+
- 1877 Indian Head Penny – $1,000 to $10,000+
As you can see, only a few extremely rare pennies have ever sold for $50,000 or more. The most likely candidates are the 1943 Lincoln Wheat Penny and the 1944 Steel Lincoln Penny.
The 1943 Lincoln Wheat Penny – The $50,000+ Penny
The 1943 Lincoln Wheat penny is by far the most famous rare and valuable penny in the world. This penny was produced in error in 1943 at the San Francisco mint facility. Only 20 or so examples are known to exist today.
Here’s why the 1943 wheat penny is so immensely valuable:
- It was minted in error during World War II when copper was supposed to be reserved for the war effort.
- Steel planchets were used that year instead of the usual copper.
- Only an estimated 20 or so copper 1943 pennies were minted by accident, making them extraordinarily rare.
This series of events created one of the most famous and sought-after coin rarities in U.S. history. The 1943 copper penny regularly sells for anywhere from $50,000 up to $100,000+ at coin auctions depending on its individual condition.
Notable Sales of the 1943 Wheat Penny
Here are some recent sales records of the 1943 Lincoln Wheat penny that show its immense value:
Year Sold | Grade | Sale Price |
---|---|---|
2010 | PCGS AU-58 | $72,500 |
2018 | NGC MS-63 Brown | $204,000 |
2021 | PCGS MS-62 | $102,000 |
As you can see, individual 1943 copper pennies in mint state or near mint state can easily sell for over $50,000 at auction. In more heavily worn circulated grades, they still command prices from $50,000 on up.
The 1944 Steel Lincoln Penny
Another extremely rare Lincoln cent variety is the 1944 steel penny. In 1944, steel planchets were still being used for pennies because of WWII copper shortages.
However, 20 or 30 1944 Lincoln cents were created mistakenly on recycled bronze planchets at the San Francisco Mint. These rare coins feature the same wheat reverse design as the 1943 copper cent.
Like the 1943 copper penny, this was a major mint error at the time. It resulted in another incredibly valuable Lincoln Wheat cent variety today that sells for $75,000 to $100,000+ in mint state condition at coin auctions.
Notable Sales of the 1944 Steel Penny
Year Sold | Grade | Sale Price |
---|---|---|
2008 | PCGS AU-58 | $115,000 |
2014 | PCGS MS-62 | $95,000 |
2019 | PCGS MS-63 | $144,000 |
Clearly, the 1944 steel cent is right up there with the 1943 copper penny when it comes to rare pennies potentially worth $50,000 or more. Grades below AU-50 will still command tens of thousands of dollars from collectors.
Other Early Lincoln Wheat Cents
While less likely to trade for $50,000+ like the 1943 copper and 1944 steel cents, there are some other early Lincoln Wheat pennies that can reach five figures or more in value:
- 1909-S VDB – This is the famous first year of issue for the Lincoln cent series. The rare 1909-S VDB pennies with the designer’s initials command prices from $10,000 up to $50,000 in mint state.
- 1914-D – This early Philadelphia issue comes with one of the lowest mintages in the series. In top grades it can easily be worth $10,000 to $50,000.
- 1931-S – This depression era San Francisco issue has tiny mintage of only 866,000 coins. High grade examples sell for $3,000 to $12,000+.
While not as universally famous as the 1943 wheat cent, these rare premium Lincoln pennies all have the potential to reach 5 figures or more in value depending on condition. They are must-haves for any serious collector.
How to Find Valuable Pennies
Finding extremely valuable pennies like the 1943 copper or 1944 steel cents in everyday pocket change is basically like winning the lottery. However, here are some tips to maximize your chances:
- Always check your pocket change carefully for rare dates and mint marks.
- Research key dates, mintmarks, and varieties for each series. For Lincoln cents focus on 1909-S VDB, 1931-S, 1943, 1944, 1955 Doubled Die Obverse, etc.
- Search coin rolls from your bank. Buy a box of pennies and look for rare coins.
- Use a metal detector to hunt for old coins in the ground.
- Buy Circulated Coin Lots or Accumulations on eBay.
While still unlikely, this provides your best chance at finding an extremely rare coin like the 1943 wheat penny or 1944 steel cent hidden in circulation. You never know what may turn up in old accumulated coins.
The Thrill of the Hunt
Hunting for rare pennies is fun and exciting. While most will never find a coin valued at $50,000, the thrill comes in not knowing what you may uncover. With pennies being so commonplace, valuable ones could be hiding anywhere.
From checking your pocket change, to hunting through bank rolls, to metal detecting, there are many ways you could find a prize penny. While it only happens for a few lucky collectors, those 1943 and 1944 Lincoln cents are out there waiting to be found.
Conclusion
In summary, the two pennies that realistically have traded hands for $50,000 or more are the rare 1943 copper Lincoln Wheat cent and the 1944 steel Lincoln cent. Both were struck by accident at the San Francisco Mint due to WWII copper shortages. These two 20th century rarities stand head and shoulders above the rest when it comes to valuable pennies selling for a small fortune.
Other Lincoln Wheat cents like the 1909-S VDB, 1931-S, and 1914-D also have the potential to reach five figure values in uncirculated condition. While finding one of these ultra-rare pennies is highly unlikely, they can turn up when you least expect it so keep searching!