The humble Lincoln cent, commonly known as the penny, has been a fixture in American pockets and cash registers since 1909.
Despite being the lowest denomination in our currency system and often dismissed as virtually worthless in today’s economy, certain pennies command extraordinary premiums in the numismatic marketplace—sometimes thousands or even millions of times their face value.
This article explores ten of the most valuable Lincoln cents that might be hiding in plain sight in collections, change jars, or circulation.
From production errors and die varieties to low-mintage issues and condition rarities, these exceptional pennies demonstrate how seemingly ordinary coins can harbor extraordinary value.
While finding these rarities remains a long shot, their continued discovery in circulation, dealer stocks, and unsearched collections provides the tantalizing possibility that the next great find could be just a coin flip away.
1. The 1909-S VDB Cent: The Legendary First-Year Rarity
The 1909-S VDB cent stands as the most famous and coveted regular-issue Lincoln cent. When the Lincoln design debuted in 1909, designer Victor David Brenner placed his initials (VDB) prominently on the reverse.
Public controversy over this perceived self-promotion led to the removal of the initials after a relatively small number had been struck at the San Francisco Mint.
With a mintage of just 484,000 pieces, the 1909-S VDB became an instant numismatic classic.
Today, well-worn examples typically sell for $700-900, while specimens in mint condition can bring $2,000-4,000 depending on preservation quality. The finest examples with perfect “Red” color preservation have sold for over $100,000 at auction.
The coin’s historical significance as the first-year issue of America’s longest-running design, combined with the fascinating controversy surrounding the designer’s initials, creates enduring appeal that transcends mere rarity.
For many collectors, acquiring a 1909-S VDB represents a defining moment in their numismatic journey—a tangible connection to a pivotal moment in American coinage history.
Despite its considerable value, the 1909-S VDB occasionally turns up in collections formed decades ago by individuals who set these coins aside before their premium value was widely recognized.
Careful examination of inherited collections, particularly those formed before 1960, sometimes yields examples of this legendary rarity.
2. The 1943 Copper Penny: The Wartime Mistake
Perhaps the most valuable error coin in American numismatics, the 1943 copper cent resulted from an extraordinary circumstance during World War II.
As copper was needed for the war effort, the Mint switched to zinc-coated steel for 1943 cent production. However, a few copper planchets (blanks) from 1942 apparently remained in the presses and received the 1943 date.
With fewer than 30 authentic examples known across all three minting facilities, these copper pennies represent extraordinary rarities.
Well-preserved specimens regularly sell for over $100,000, with the finest examples reaching beyond $1 million at auction. In 2010, a dealer paid $1.7 million for one particularly exceptional specimen.
The historical connection to World War II enhances this coin’s appeal beyond mere rarity. As tangible evidence of America’s wartime resource management, these pennies tell a compelling story about a pivotal moment in world history.
Authentication presents significant challenges, as counterfeiters have produced copper-plated 1943 steel cents or altered dates on 1948 pennies to create convincing fakes.
Genuine examples can be verified through metallurgical testing, weight verification (copper cents weigh 3.11 grams versus 2.7 grams for steel cents), and proper die characteristics.
The simple magnet test provides initial screening, as genuine copper cents will not stick to a magnet.
While finding an authentic example remains highly improbable, these rarities continue to capture the public imagination as the “holy grail” of pocket change collecting.
3. The 1944 Steel Penny: The Opposite Error
The counterpart to the 1943 copper cent is the 1944 steel penny. After returning to copper composition in 1944, a small number of steel planchets from 1943 apparently remained in the system and received the 1944 date stamp. Approximately 30 authentic examples exist, making them similarly rare to their 1943 copper counterparts.
When authenticated by experts, these transitional errors typically sell for $75,000-125,000 depending on condition and mint mark. The most desirable examples show the “S” mint mark from San Francisco, where production was lowest.
Like their 1943 copper counterparts, these coins face authentication challenges but can be initially identified through weight and magnetic properties.
Genuine steel cents will be attracted to a magnet and weigh approximately 2.7 grams versus the standard 3.11 grams for copper issues.
These transitional error coins demonstrate how small oversights in production material management can create extraordinary numismatic treasures.
The contrasting errors of 1943-44 form a fascinating historical pair that documents the challenges of wartime production changes.
4. The 1955 Doubled Die Obverse Cent: The Spectacular Error
The 1955 Doubled Die Obverse cent features dramatic doubling visible to the naked eye, particularly in the date, the word “LIBERTY,” and the motto “IN GOD WE TRUST.”
This error occurred during the die manufacturing process when multiple impressions from the hub were made at slightly different angles.
Approximately 20,000-24,000 examples were struck before the error was discovered, with many distributed through cigarette vending machines in the northeastern United States.
Despite this relatively small mintage, enough examples exist to make this error attainable for serious collectors.
Values typically range from $1,000-1,500 for worn examples to $3,000-4,000 for uncirculated specimens. The finest preserved examples with pristine surfaces and original mint color have sold for over $100,000.
The visual drama of this error makes it particularly appealing to collectors. Unlike subtle varieties requiring magnification to appreciate, the 1955 Doubled Die shows obvious doubling visible even to non-specialists.
This accessibility has made it perhaps the most famous die variety in American numismatics.
Examples occasionally turn up in rolls of unsearched pennies, particularly from collections formed in the 1950s and 1960s.
The possibility of discovering this valuable error continues to motivate careful examination of Lincoln cents from this period.
5. The 1969-S Doubled Die Obverse Cent: The Modern Rarity
Following in the tradition of the 1955 Doubled Die but far rarer, the 1969-S Doubled Die Obverse cent features similar pronounced doubling created during the die manufacturing process.
The doubling appears most prominently in the date and inscriptions, though not quite as dramatically as on the 1955 variety.
Unlike the 1955 version, very few 1969-S Doubled Die cents escaped the Mint—perhaps fewer than 100 authenticated examples exist. This scarcity, combined with strong demand from error collectors, creates substantial value.
Prices typically range from $25,000-35,000 for circulated examples to $60,000-100,000 for uncirculated specimens. The finest examples have sold for over $150,000 at auction.
Authentication challenges are significant, as many altered or counterfeit examples have appeared in the marketplace. Expert verification is essential before paying significant premiums for purported examples.
Genuine specimens show consistent doubling patterns and proper die characteristics that experienced numismatists can verify.
Despite its relative youth compared to other valuable pennies, the 1969-S Doubled Die represents one of the rarest Lincoln cent varieties that can still occasionally be discovered in circulation or unsearched collections.
6. The 1972 Doubled Die Obverse Cent: The Accessible Error
The 1972 Doubled Die Obverse cent represents one of the most dramatic doubling errors of the modern era. Like earlier doubled dies, the error shows pronounced doubling in the date and inscriptions, creating a visually striking variety that catches the eye even without magnification.
Approximately 20,000-40,000 examples are believed to exist, making this variety scarce but attainable for many collectors. Values typically range from $200-300 for circulated examples to $500-1,000 for uncirculated specimens. The finest gem examples can bring $3,000-5,000.
What makes this error particularly appealing is its relative accessibility compared to earlier doubled die varieties. Examples continue to be discovered in circulation and in bank rolls by observant collectors, creating legitimate “treasure hunt” opportunities within contemporary coinage.
The 1972 Doubled Die serves as an excellent entry point for error collectors, offering dramatic visual appeal at a more moderate price point than other major varieties.
Its continued discovery in circulation also helps recruit new collectors to the hobby by demonstrating that valuable coins can still be found through careful observation.
7. The 1992 Close AM Reverse Cent: The Subtle Modern Rarity
The 1992 Close AM cent represents an intriguing “wrong design” variety that occurred when a reverse die intended for proof coins was mistakenly used for circulation strikes.
The variety gets its name from the letters “A” and “M” in “AMERICA,” which appear closer together than on standard 1992 cents.
This subtle difference resulted from design modifications intended for 1993 and later issues, making the 1992 specimens with this feature dramatically scarce. Only a handful of confirmed examples exist, making this one of the rarest modern cent varieties.
When authenticated, these scarce pennies typically sell for $5,000-10,000 depending on condition. The highest grade examples have fetched over $20,000 at specialized auctions.
What makes this variety particularly fascinating is its unintentional revelation of the Mint’s production process, showing how dies prepared for future designs or different production facilities can occasionally be mixed into current production.
The subtle nature of the variety also demonstrates the importance of careful observation in numismatics.
While challenging to identify without comparison examples, the 1992 Close AM cent reminds collectors that even recent coins can harbor significant rarity and value when production anomalies occur.
8. The 1983 Doubled Die Reverse Cent: The Overlooked Error
The 1983 Doubled Die Reverse cent features dramatic doubling on the reverse inscriptions, particularly visible in “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “ONE CENT.”
While not as famous as obverse doubled die varieties, this error shows equally impressive doubling that is readily visible without magnification.
The variety remained relatively obscure until the late 1990s, allowing many examples to circulate unrecognized. Today, estimated populations suggest perhaps 5,000-10,000 examples exist across all grades.
Values typically range from $150-250 for circulated specimens to $400-800 for uncirculated examples. The finest known pieces have sold for $3,000-5,000 at specialized auctions.
The relatively recent discovery and documentation of this variety suggests that examples may still be found in circulation or in collections formed before the error was widely recognized.
This possibility creates legitimate “treasure hunt” opportunities for knowledgeable collectors reviewing modern cents.
9. The 1958 Doubled Die Obverse Cent: The Final Wheat Penny Error
The 1958 Doubled Die Obverse cent holds special significance as a major error from the final year of the Wheat reverse design.
The doubling appears most prominently in the date and inscriptions, creating a variety similar to the more famous 1955 Doubled Die but with more moderate doubling.
With an estimated surviving population of a few thousand examples, this variety remains significantly rarer than the 1955 Doubled Die while being more available than the 1969-S version.
Values typically range from $200-400 for circulated examples to $500-1,000 for uncirculated specimens in lower mint state grades.
The variety’s occurrence in the final Wheat cent year creates additional collector interest beyond its error status, appealing to both error specialists and collectors focusing on the Wheat cent series that ran from 1909-1958.
Examples occasionally surface in collections formed decades ago, particularly those that set aside quantities of the final-year Wheat cents before they disappeared from circulation when the Lincoln Memorial reverse debuted in 1959.
10. The 1909-S Indian Head Cent: The “Wrong” Penny Worth Finding
While not technically a Lincoln cent, the 1909-S Indian Head cent deserves inclusion as an extremely valuable penny that might still be discovered in old collections.
As the final year of the previous design and struck only at the San Francisco Mint in limited quantities (309,000 pieces), this coin represents an important transitional issue.
Values begin around $400-600 for heavily worn examples and escalate to $1,000-2,000 for well-preserved circulated specimens. Uncirculated examples typically bring $3,000-6,000 depending on quality and color.
What makes this coin particularly relevant is that many collectors assembling Lincoln cent collections in the early 20th century would have acquired 1909 Indian Head cents as well, meaning this valuable issue might be found adjacent to Lincoln cents in inherited collections.
The distinctive design makes this valuable penny easily identifiable even to those with limited numismatic knowledge—an Indian head in headdress appears on the obverse rather than Lincoln’s profile. This visual difference increases the likelihood of proper attribution if encountered in mixed collections.
These 10 Penny Coins worth is $79 Million each
These ten extraordinary pennies demonstrate how America’s humblest coin can sometimes harbor remarkable value.
From major design transitions and production errors to subtle die varieties and condition rarities, valuable pennies span more than a century of American coinage and represent diverse collecting opportunities.
While finding these rarities remains a statistical long shot, their continued discovery in circulation, dealer inventories, and previously unsearched collections provides genuine motivation for careful examination of this often-overlooked denomination.
The educational value of learning these varieties extends beyond potential financial rewards, creating deeper appreciation for the craftsmanship, history, and technological evolution represented in our nation’s coinage.
For collectors at all levels, these valuable pennies offer something increasingly rare in our digital age—the authentic possibility of discovering physical treasure through knowledge, persistence, and careful observation.
Whether worth hundreds, thousands, or even millions of times their face value, these special cents remind us that extraordinary value sometimes hides in the most ordinary places, waiting for the observant individual to recognize what others have overlooked.