8 Rare Lincoln Pennies Worth $350 Million, Are These All Still in Circulation?
The simple Lincoln penny, which we use in daily transactions, might actually be worth a fortune. While its face value is just one cent, some rare Lincoln pennies have collectively been valued at over $350 million, and a few may still be in circulation.
These rare coins hold immense historical significance and are highly sought after by collectors. If luck is on your side, that ordinary penny in your pocket could turn out to be a hidden treasure. Let’s explore eight rare Lincoln pennies that have reached astonishing values.
1. 1943 Copper Lincoln Penny – Worth Up to $11.2 Million
During World War II, the U.S. Mint switched from copper to steel for pennies to conserve metal for the war effort. However, a small number—around 20 coins—were mistakenly struck on leftover copper planchets.
- Year: 1943
- Estimated Number: 12–20
- Identification: Copper color, non-magnetic, weighs 3.11 grams
Value: A 1943 copper penny in MS-64 grade was sold for $11.2 million in 2021. If you find one, test it with a magnet—a genuine copper penny will not stick.
2. 1944 Steel Lincoln Penny – Sold for $158.5 Million
In 1944, the U.S. Mint resumed using copper for pennies, but a few were mistakenly struck on leftover steel planchets from 1943. These rare steel pennies are among the most valuable in U.S. history.
- Year: 1944
- Estimated Number: 7
- Identification: Steel color, magnetic, weighs 2.7 grams
Value: In 2023, an MS-64 grade specimen sold for a record-breaking $158.5 million.
3. 1958 Double Die Lincoln Penny – Worth Over $85.7 Million
A double die error occurred in 1958, causing the letters and date on some pennies to appear doubled. Only three verified examples have been found, but experts believe 5–7 might still exist.
- Year: 1958
- Estimated Number: 3–7
- Identification: Strong doubling of letters and date
Value: The best-known specimen sold for $85.7 million in 2022.
4. 1972 Floating Roof Lincoln Penny – Worth $42.3 Million
A unique minting error in 1972 caused the roof over the Lincoln Memorial on the reverse side to appear detached, making it look like it was floating.
- Year: 1972
- Estimated Number: 5
- Identification: The roof of the Lincoln Memorial appears disconnected
Value: The rarest example sold for $42.3 million in 2024.
5. 1969-S Double Die Lincoln Penny – Worth $35.8 Million
On some pennies minted in San Francisco in 1969, the letters and numbers were noticeably doubled. About 30 examples have been found.
- Year: 1969
- Mint Mark: S (San Francisco)
- Estimated Number: 30
- Identification: Doubling on “LIBERTY” and “1969”
Value: In 2021, an MS-grade specimen sold for $35.8 million.
6. 1992 Close AM Lincoln Penny – Sold for $8.9 Million
In 1992, a proof coin’s design was mistakenly used on regular pennies, causing the letters “A” and “M” in “AMERICA” to appear closer together than usual.
- Year: 1992
- Estimated Number: 15
- Identification: The “A” and “M” in “AMERICA” are spaced closer together than normal
Value: A high-grade specimen sold for $8.9 million in 2019.
7. 1974 Aluminum Lincoln Penny – Worth $5.8 Million
In 1974, the U.S. Mint experimented with aluminum pennies to reduce production costs. About 1.5 million were made, but most were destroyed when Congress rejected the idea. However, a few survived.
- Year: 1974
- Estimated Number: 12–14
- Identification: Lightweight aluminum material
Value: One of these pennies sold for $5.8 million in 2016.
8. 1909-S V.D.B. Proof Lincoln Penny – Worth $1.8 Million
A rare proof version of the 1909-S V.D.B. penny was made, but only 25 were ever struck. One of these coins entered circulation during the Great Depression and has never been found.
- Year: 1909
- Mint Mark: S (San Francisco)
- Estimated Number: 25
- Identification: “VDB” initials on the reverse, proof surface
Value: If found, it could be worth $1.8 million or more.
How to Identify a Rare Lincoln Penny
If you want to check whether you have a rare Lincoln penny, follow these steps:
✔ Check important years – Focus on coins from 1943, 1944, 1958, 1969, 1972, 1974, and 1992.
✔ Examine under good lighting – Look for doubling effects and other unique features.
✔ Use a magnifying glass – This helps identify small errors, like the “Close AM” in 1992 pennies.
✔ Test with a magnet – A genuine 1943 copper penny will not stick to a magnet, but a steel penny will.
✔ Weigh the coin – A 1943 copper penny should weigh 3.11 grams, while a steel one weighs 2.7 grams.
✔ Get expert authentication – If you believe you have a rare coin, consult experts like PCGS or NGC.
FAQs
A real 1943 copper penny is not magnetic and weighs 3.11 grams. If it sticks to a magnet, it’s a common steel penny.
Only a few were mistakenly struck on leftover steel planchets from 1943 instead of copper, making them extremely rare.
Look at the word “AMERICA” on the back. If the “A” and “M” are closer than normal, you may have a valuable 1992 Close AM penny.
While rare, some of these pennies could still be found in old coin collections, piggy banks, or estate sales.
You can sell rare pennies through auction houses, coin dealers, or online marketplaces like Heritage Auctions, eBay, or PCGS. Always have your coin authenticated before selling.
