If you have a change jar filled with pennies, you might be holding onto a coin worth thousands—or even millions of dollars. While the typical penny is valued at just one cent, the rarest pennies can command incredible sums at auctions. If you’re sorting through your spare change, it’s essential to know how to identify a penny that could be a collector’s dream.
Each penny on this list is special for its own reason. Some are among the oldest, like the 1792 Birch Cent, while others, like the 1958 Double Die Lincoln Cent, have fascinating minting errors that make them stand out. The stories behind these coins are just as valuable as the pennies themselves.
What Makes a Penny Valuable?
The value of rare pennies goes beyond just how old they are. Several factors contribute to their rarity, including minting errors, historical significance, and how many still exist. While most pennies are worth only their face value, a few exceptional coins have been known to fetch astronomical prices.
Quick Reference: 10 Most Valuable Pennies
Here’s a quick reference to the 10 rarest and most valuable pennies:
| Penny | Value |
|---|---|
| 1792 Birch Cent | $2.6 Million |
| 1943 Bronze Lincoln Penny | $1.7 Million |
| 1793 Strawberry Leaf Cent | $863,000 |
| 1793 Liberty Cap Wreath Cent | $391,000 |
| 1944 Steel Lincoln Penny | $375,000 |
| 1958 Double Die Lincoln Penny | $336,000 |
| 1909 VDB Proof Lincoln Penny | $269,000 |
| 1856 Flying Eagle Cent | $173,000 |
| 1864 Indian Head Penny With L | $161,000 |
| 1914-D Lincoln Penny | $159,000 |
1. 1792 Birch Cent – $2.6 Million
The 1792 Birch Cent, created before the U.S. Mint officially began producing pennies in 1793, is the rarest and most valuable penny ever made. Crafted as a prototype, only 10 examples are known to exist. One in pristine condition sold for an astounding $2.6 million in 2015. The coin features Lady Liberty’s profile on the front, which was a controversial choice at the time, as some preferred George Washington’s likeness.
Fun Fact: The penny was the first circulating coin in the U.S., and the design went through numerous changes over the centuries.
2. 1943 Bronze Lincoln Penny – $1.7 Million
In 1943, due to World War II, the U.S. Mint switched to using steel for pennies to conserve copper. However, a small number of pennies were mistakenly struck with bronze instead of steel, making them extremely rare. Approximately 40 such coins are believed to still exist, with one fetching $1.7 million at auction in 2010.
Fun Fact: Rumors circulated during the 1940s that Henry Ford promised a car to anyone who found one of these pennies, although this was never substantiated.
3. 1793 Strawberry Leaf Cent – $863,000
The 1793 Strawberry Leaf Cent, so named for the faint strawberry leaves near the date, is one of only four known examples. This coin is incredibly rare and highly sought after, with one selling for nearly $863,000 in 2009. Its significance lies in its early minting history, as it was produced the first year the U.S. Mint officially struck pennies.
Tip: Even if a coin is worn or damaged, its age can still make it valuable, especially for coins over a century old.
4. 1793 Liberty Cap Wreath Cent – $391,000
A pristine example of the 1793 Liberty Cap Wreath Cent sold for $391,000 in 2004. This coin’s historical significance is further enhanced by the tragic events surrounding its production. During the minting process, a yellow fever epidemic temporarily halted operations, making this penny even rarer.
Fun Fact: Pennies minted during significant historical events, like pandemics or wars, can be especially valuable due to their context.
5. 1944 Steel Lincoln Penny – $375,000
In 1944, after the U.S. Mint returned to using copper for pennies, some steel from the previous year’s production was accidentally used in minting a small number of pennies. Only about 30 of these 1944 Steel Lincoln Pennies are known to exist, and they can fetch up to $375,000 in excellent condition.
Tip: Watch for pennies from the wartime years, as mix-ups in material could mean you’ve found something special.
6. 1958 Double Die Lincoln Penny – $336,000
The 1958 Double Die Lincoln Penny is a rare error caused by a double-stamping process that affected the lettering on the coin. Only three known examples exist in pristine condition, and one sold for $336,000 in 2018. The error can be seen in the doubled letters in “IN GOD WE TRUST” and “LIBERTY.”
Tip: Use a magnifying glass to check for unusual double-stamping errors, which could make a penny much more valuable.
7. 1909 VDB Proof Lincoln Penny – $269,000
The 1909 VDB Proof Lincoln Penny, created as a limited edition matte proof, is among the most valuable pennies due to its rarity and condition. Only about 200 examples are known to exist, with one in excellent condition selling for $269,000. The coin’s beauty and unique rainbow oxidation make it a standout in any collection.
Fun Fact: Beautiful coins with a unique appearance, like the 1909 VDB, are often more valuable due to their aesthetic appeal.
8. 1856 Flying Eagle Cent – $173,000
The 1856 Flying Eagle Cent is a transitional coin minted in limited numbers to commemorate the change in penny size. Originally struck for collectors, only around 4,000 examples were made, and they are highly valued for their rarity. One in excellent condition fetched $173,000 in 2004.
Tip: Keep an eye out for pennies produced during transitions in coin design, as these can often be valuable.
9. 1864 Indian Head Penny With L – $161,000
The 1864 Indian Head Penny features a slight variation in the design—a small “L” on Lady Liberty’s ribbon. This version is rare due to its limited production, and in uncirculated condition, it can fetch upwards of $161,000. This penny was minted during the Civil War when metal shortages influenced coin production.
Fun Fact: Pennies from historically significant times, like the Civil War, often hold additional value due to their connection to important events.
10. 1914-D Lincoln Penny – $159,000
The 1914-D Lincoln Penny, minted in Denver, is rare because only about one million were produced. Due to the large number that went into circulation, finding one in mint condition is exceptionally rare. A well-preserved example sold for $159,000 in 2018.
Tip: Look for pennies from years with low mintage numbers, as these are often worth more due to scarcity.
Tips for Spotting Valuable Pennies
While the coins on this list are worth thousands, many other pennies can also exceed their face value. Here are a few tips to help you spot valuable pennies:
- Condition Matters: Old pennies that are in excellent condition, with little to no wear, can be worth more than their age would suggest.
- Minting Errors: Keep an eye out for pennies with minting mistakes, such as double-stamping or misaligned designs.
- Look for Low Mintage Years: Some years, like 1931-S or 1955-S, had lower mintage numbers, making those pennies more valuable.
- Copper Value: Pre-1982 pennies are made of 95% copper, which gives them an inherent metal value. These pennies can be worth more due to the price of copper.
