The Top 16 Most Valuable Pennies

1914-S Lincoln Penny

• Value: $105,800
• Grade: PCGS MS-66 Red
• Sold: August 2006; Bowers & Merena, Anne Kate Collection Part II

The 1914-S Lincoln cent is by no means a rare coin. After all, the San Francisco Mint minted over 4 million of them. What makes this particular coin shown above extremely valuable is its pristine condition despite being over 100 years old. There is no noticeable bag mark on the coin's surface, and it has retained its original bright red-orange copper color.

For a coin like this to survive so long in pristine condition, it is evident that a collector in San Francisco in 1914 must have set it aside before it could become tattered and worn in circulation. The collector probably also ensured the coin was correctly stored to preserve its color. Coins in this condition are few and far between and truly treasures to behold.

1944-D Lincoln Penny on a Zinc-Coated Steel Planchet

Value: $115,000

Grade: NGC MS-63

Sold: August 2007; Heritage Auctions, Milwaukee, WI, ANA Signature Coin Auction

A 1944 Lincoln penny struck at the Denver, Colorado Mint facility is nothing special. The United States Mint struck over 430 million of them. What makes this coin extremely valuable is the fact that it was struck on a zinc-coated steel planchet. These steel planchets were used primarily in 1943. However, after many complaints, the United States Mint returned to the regular copper planchets in 1944.

However, a steel planchet from 1943 must have found its way into the coining press. This stray planchet created a great rarity treasured by coin collectors, and they are willing to pay handsomely to add this coin to their collection.

1909-S VDB Lincoln Penny

Value: $117,500

Grade: PCGS MS-67 Red

Sold: March 2014; Heritage Auctions, Atlanta, GA, ANA National Money Show US Coins Signature Auction

In 1909, The United States Mint replaced the Indian Head penny with the Lincoln cent. Victor David Brenner created the design for this coin under the auspices of President Theodore Roosevelt. Brenner added his initials V.D.B. to the coin's reverse, at the bottom between the two wheat stalks. Up to this point, coin designers used only the first initial of their last name. To have all three initials on a coin's design was unheard of.

Slightly less than a half-million of these pennies were minted before the Treasury Department demanded that the initials be removed. This made the coins overnight sensations among coin collectors, and the pennies have become known as the "Holy Grail" for collectors of Lincoln cents.

1872 Indian Head Penny

Value: $126,500

Grade: PCGS MS-67 Red

Sold: August 2007; Heritage Auctions, Milwaukee, WI, ANA Signature Coin Auction

An 1872 Indian Head penny is scarce, but you can likely find it at any coin show or coin dealer in circulated grades. Slightly more than 4 million of these pennies were minted. However, the financial hardship of the time (including the economic downturn following the "Panic of 1873") meant few people could save coins for their collections. As a result, most of these pennies went into circulation.

What makes this coin shown above extremely rare is its exceptional condition that combines a nearly flawless coin with a sharp strike from a fresh set of coin dies. Additionally, it has been sufficiently well preserved to retain its original bright red-copper color.

1969-S Lincoln Penny–Doubled Die Obverse

Value: $126,500

Grade: PCGS MS-64 Red

Sold: January 2008; Heritage Auctions, Orlando, FL, FUN Signature Coin Auction

A 1969-S Lincoln Penny-Doubled Die Obverse was first discovered in 1970, and Coin World reported on it on the front page of its July 8, 1970 edition. Initially, the government believed these were counterfeit coins and began confiscating them. They confiscated and destroyed five of these coins before acknowledging them as genuine.

This penny exhibits doubling on the date and lettering on the obverse. Although the doubling is not as dramatic as the 1955 doubled die obverse, it is evident with low-level magnification. These coins in circulated condition are also valuable, but uncirculated coins are extremely rare.

1926-S Lincoln Penny

Value: $149,500

Grade: PCGS MS-65 Red

Sold: January 2006; Heritage Auctions, Orlando, FL, FUN Signature Auction

On the surface, there is nothing visually spectacular about this coin. While it is uncirculated and retains its original copper-red color from the day it was minted, the date and mintmark combination sets this coin apart.

One factor contributing to this coin's significant value is its low mintage. Only nine other Lincoln wheat pennies have a lower mintage. Also, in the 1930s and 40s, most coin collectors acquired their coins from circulation, so it is not hard to find a circulated example of a 1926-S Lincoln penny. But it is scarce to find an uncirculated 1926-S Lincoln penny with its original copper-red color.

1877 Indian Head Penny

Value: $149,500

Grade: PCGS MS-66 Red

Sold: August 2007; Heritage Auctions, Milwaukee, WI, ANA Signature Coin Auction

This penny is the rarest date of all the Indian Head pennies ever minted. In 1877, the economic slump that began in 1873 continued with full force. As a result, demand for United States coinage was at an all-time low, and families struggled to make ends meet. As a result, saving even a penny for a coin collection was not an option for most Americans.

Although the 1909-S Indian Head Penny has a smaller mintage, more were saved in uncirculated condition. To hold an 1877 Indian Head Penny in uncirculated condition is an extreme rarity, given the poor economic conditions of that year. Having one in its original copper-red color makes it much more extraordinary.

1914-D Lincoln Penny

Value: $152,750

Grade: PCGS MS-66+ Red

Sold: August 2017; Heritage Auctions, Denver, CO, ANA U.S. Coins Signature Auction

This coin was heavily circulated and commonly subjected to the widespread use of "penny boards" in the 1930s and 40s, which people used to collect coins from circulation. As a result, most of the 1941-D Lincoln pennies are in circulated condition. An uncirculated example in its original mint state and with its original red color is extremely rare and valuable.

1864 Indian Head Penny–"L" on Ribbon

Value: $161,000

Grade: PCGS PR-65 Red & Brown

Sold: October 2011; Heritage Auctions, Pittsburgh, PA, Signature Auction

In 1864, the Civil War was dragging on, and the United States economy was extremely fragile. Many citizens hoarded gold, silver, and copper coins as a store of wealth. This made it difficult for the federal government to obtain the metal to mint coins.

The Indian Head penny was designed by mint engraver James B. Longacre and first issued in 1859. Approximately halfway through the mintage of 1864 pennies, an "L" was added to the tail of the ribbon in the war bonnet on Lady Liberty's head. It is estimated that only 5 million of these coins were made, and very few of them were saved in uncirculated condition.

1943 Lincoln Cent Struck on Bronze Alloy

Value: $164,500

Grade: PCGS MS-63 Red

Sold: January 2013; Stack's Bowers Galleries, Americana Auction

This 1943 Lincoln penny should have been struck on a zinc-plated steel planchet but was, in fact, made with a bronze alloy planchet. Although there is some argument that mint workers actually struck these coins on bronze alloy planchets on purpose, it is more probable that a few bronze planchets left over from the previous year got stuck on a conveyor belt or tote and were incorporated into the regular striking process.

Since most people do not look at the date on every coin they receive in change, some of these 1943 bronze alloy pennies circulated for a while before being snatched up by an alert coin collector intent on cherry-picking the valuable Lincoln penny out of circulation. The high value of this coin is due to its uncirculated condition and original copper-red color.

1856 Flying Eagle Cent

Value: $172,500

Grade: PCGS MS-66

Sold: January 2004; Heritage Auctions, Orlando, FL, FUN Signature Auction

In 1856, the price of copper rose to the point that it took more than a penny's worth of copper to make a penny. Before this date, pennies were large and bulky and were almost the size of a half-dollar. To lower costs, the United States Mint sought to reduce the size of the penny (to its current diameter). However, the move needed congressional approval, so the mint produced a batch of about 800 of the new pennies and presented them to lawmakers.

Any one of these coins in circulated or uncirculated condition is extremely rare. When an example as fine as this one crosses the auction block, it is certain to set record prices.

1909 VDB Matte Proof Lincoln Penny

Value: $258,500

Grade: PCGS PR-67 Red & Brown

Sold: August 2014; Heritage Auctions, Chicago, IL, ANA US Coins Signature Auction

As with the 1909-S VDB Lincoln Penny, this highly valued penny proof bears all three of the coin designer's initials: "VDB." Only 1,194 of these proof coins were struck at the Philadelphia Mint before the Treasury Department dictated that the designer's initials be removed. The low mintage alone makes this coin extremely rare, but the brilliant colors that resulted from a coin being stored for 100 years make this coin extremely attractive to collectors.

1943-S Lincoln Cent Struck on Bronze

Value: $282,000

Grade: PCGS AU-58

Sold: February 2016; Heritage Auctions, Long Beach, CA, US Coins Signature Auction

The 1943-S Lincoln Cent Struck on Bronze is the second example of a 1943 Lincoln penny that should have been struck on a zinc-plated steel planchet but was instead coined on a bronze planchet. The San Francisco Mint produced six known examples of this error in 1943.

This is the second-lowest number of 1943 Lincoln pennies on bronze planchets produced at any United States Mint location. Since this coin exhibits evidence of circulation, it must have exited the mint via regular distribution channels. Coins in higher grades are suspected of having been helped by a mint employee.

1958 Doubled Die Obverse Cent

Value: $336,000

Grade: PCGS MS-64 RD

Sold: March 2018; Stacks Bowers; Baltimore - Session 3 - Rarities Night Including the ESM Collection

The 1958 Doubled Die Obverse Cent is among the most exceedingly rare and intriguing Lincoln cents, not because of its date of minting but because of its die variety. As opposed to the 1955 Doubled Die Lincoln Cent, where thousands of them are known, only three 1958 Doubled Die Lincoln pennies are known to exist.

It is unknown how only three examples left the United States Mint facility in Philadelphia, but because all of them are in Mint State Red condition, it is speculated that they may have been smuggled out by an unscrupulous mint employee. Regardless of how they got out of the mint, these exceedingly rare die-variety Lincoln cents would be prized by any collector.

1944-S Lincoln Steel Penny

Value: $373,750

Grade: NGC MS-66

Sold: August 2008; Heritage Auctions, Baltimore, MD, ANA US Coin Signature Auction

In 1944, Lincoln pennies reverted to the original bronze alloy of 95 percent copper and 5 percent tin. However, two zinc-plated steel planchets somehow ended up in the San Francisco Mint's coining press. One example circulated for a while before being picked up by a collector.

This example above is uncirculated, exceptionally well preserved, and shows minimal bag marks from the minting process. Additionally, it was extremely well-struck, as evidenced by the minutest details present on the coin. These factors together make this the second most valuable penny in the world.

1943-D Lincoln Bronze Cent

Value: $1,700,000

Grade: PCGS MS-64BN

Sold: September 2010; Legend Numismatics, Private Sale

Accidents can produce the rarest coins. When the U.S. switched from bronze alloy to zinc-plated steel pennies in 1943, a relative handful of bronze pennies slipped through into the process. It is estimated that the Philadelphia and San Francisco Mints each released fewer than 20 1943 pennies struck on bronze alloy.

Many of these coins exhibit wear from circulation. This wear indicates that they were not "helped" by some unscrupulous mint employee. The rarest of all error coins noted above is this single known pristine example from the Denver Mint. It is the most valuable Lincoln penny in the world.