The penny was originally minted in silver, but from the late 18th century it was minted in . Although pennies have been around since the late 1700s, the penny did not take its now-familiar form until 1909, when its design began featuring President Abraham Lincoln to celebrate the centennial of his birth, replacing the Indian head pennies in production at the time. Pennies minted before 1982 were made of solid copper or bronze. In 1857, millions of Flying Eagle coins were struck and circulated. Heres a penny for our thoughts. "The most valuable Lincoln cent sold privately in 2010 for $1.7 million," said Stone. Also, the 1909-S (no VDB on the reverse), the 1914-D and the 1931-S are also valuable coins in any condition. These large numbers of collectors, building collections are putting a heavy demand on the rare dates and better condition coins. The 1967 penny had two versions minted one being the "Memorial" penny, and the other being the "Shield" variety. Sold: October 2011; Heritage Auctions, Pittsburgh, PA, Signature Auction. The most valuable of these 1914-D Wheat Pennies are worth up to $3,000. To hold an 1877 Indian Head Penny in uncirculated condition is an extreme rarity given the poor economic conditions of that year. These steel coins can be sold to an any American coin collection for values ranging between $77,000 $100,000. A brown 1965 Lincoln Memorial penny in good (G-4) or about uncirculated (AU-50) condition has an estimated value of $0.05. These tiny pieces rank third in this select group, and by its condition of rare coins struck at the Denver Mint (hence the D) can fetch prices of up to $5,500. As with the steel ones, they are thought to have been minted by mistake. Worth the read. Step 1 above are image links to match your coin. The 1934 wheat penny is only one in a long line of the wheat penny or Lincoln cent coinage. At least, that's what was supposed to happen. Most major and minor design features are now a flat surface. The United States mint struck over 430 million of them. The Large Cents are dated 1857 and earlier and are much bigger and heavier than our current penny type, the Small Cent. The 1907 Indian Head penny is estimated at $3.30 in average condition. Mintmarks are listed and valued on Indian and Lincoln value charts. 5 The price of copper on Dec. 10, 2019, was $2.75 a pound. Choice Uncirculated (MS-64): Medium coinage or higher. The United States Mint has made four different types of small cents: To determine how much your U.S. penny is worth, we first need to determine its type. Value:The value ranges from $280 to as much as $5,500 in mint condition. Comparing the coins in the image; nicely toned, circulated examples project pleasing eye appeal. Value:The value of this coin ranges from $50 up to $240 for uncirculated coins. "The then 16-year-old Lutes received the copper-colored penny in change at his high school cafeteria in 1947," David Stone, a coin cataloger for Heritage, told CNBC Make It. The 1856 Flying Eagle Cent is considered to be a pattern coin,rather than a circulation issue by many experts. Every 1922 Lincoln Wheat Penny was minted at the Denver Mint. "Several prototypes for the cent were produced in 1792, including the large Birch cent.". Then you will be able to grade all types of currencies! You can find this penny in good condition for only 40 cents, while the 1929 ms 65 lincoln penny typically costs $450. A regular penny in a circulated condition typically costs about $0.10 to $2, while those in the mint state can reach $4 to $25. A used one of these might be worth about $100, while a cleaner one could go for $500, he said. Many early era copper coins in a pleasing Fine grade are very collectible and valued. Most of them pulled the coins out of circulation. While the 1877 Indian Head Penny is not valuable due to an error or variety, this issue had a significantly low mintage. Sold: January 2006; Heritage Auctions, Orlando, FL, FUN Signature Auction. And oh my god that was a big dealwe bought tons of dinarjust at the idea that it would come in at 4 cents. For the rest, the standard price is $175. Collections are built with a focus on dates and date runs. The home page is an excellent index, quickly leading to the major coin series. Minted 1793 to 1857; value charts list date and condition ranges of values. If you think you've found a valuable penny, Stone suggests consulting a professional. 6 That meant the copper in each penny was worth about 1.7 cents. NGC uses this + (plus) for top coins within each grade so that they look closer to the next higher grade, and also limits it to grades from XF-45 to MS-68. Be on the lookout for 1877 and 1909-S Indian head pennies. 1973-D Penny Value In 1909, the Lincoln penny design replaced the Indian Head cent but not before a small amount of Indian Head pennies were minted at the San Francisco Mint. From half cents, large cents, Indian pennies, and Lincoln cents all have unique examples of value added by special qualities. Preparing and selling wheat pennies for the best value is possible. key dates, low mintage, minting errors), and what are the wheat pennies to look for in your pocket change? Michael is a contributor to SD Bullion and the founder of Your Money Geek, where he is on a mission to make finance fun. It is the most valuable Lincoln penny in the world. based on their conservation, appearance and brightness. The officialU.S. Mintname for the coin is the cent, and the official U.S. Treasury name for it is one-cent piece.. Separate your old wheat pennies into the main value groups - different decades, mintmarks, rare dates and importantly condition. Very Good, very good (VG-10): All but smooth design is appreciated. As previously mentioned, the debut year had V.D.B. Value: The value ranges from $500 to around $1,900. The value of a Penny 1934 australian coin depends on several factors such as quality and wear, supply and demand, rarity, finish and more. Lightly worn examples are worth a little more What could a penny buy in 1914? In other words, this is actually an extremely rare error coin. From 1864 to 1942 and from 1944 to 1982, U.S. one-cent coins (pennies) were made with 95% copper. High visual appeal. Most pennies are worth 1 cent, but to coin collectors, some are worth more than their weight in gold. Numismatists classify these three different types of Lincoln pennies all under the Lincoln Memorial Cent type. These coins come from the San Francisco Mint and initially received the designers initials on the obverse of the coin, but after some review, they were repositioned to the reverse. Some of these Wheat pennies are not as common as once believed. A typical example, such as an Indian penny in fine grade, has flat areas within the hair and face and above her eye. "These are one of the easiest valuable pennies to find," he said. It was worth one-twelfth of an Australian shilling and 1/240 of an Australian pound. Accurate recognition of dates also becomes important when separating variety and value. A 1931-S could be worth $40 or more. Stripes of various sizes. These 1943 steel pennies were unstable and generally disliked by the public, so steel was not planned for the 1944 pennies. However, some leftover steel blanks ended up in the pressing machines, and these 1944 steel cents ended up in circulation. The Flying Eagle Penny features an eagle flying to the left on the obverse side and a wreath on the reverse side. Value: Values range from $350 to about $12,000 for this coin. 1877 Indian Head Penny 7. Marks, stripes and other minor flaws. After all, over 4 million of them minted at the San Francisco mint. In fact, in 2010, one such penny was sold at auction for over $1 million. Series are identified along with dates and mintmarks. Two are Indian pennies, from different mints. So before you say, "Keep the change," check to see if you have any of these valuable pennies: Only a handful of these bronze pennies have been discovered, including the one found by Lutes. Otherwise, its maximum price is around $300. Step 1: Recognize the Different Series of Cents - US pennies cover a large variety of series and styles with overlapping dates. This coin was heavily circulated and was commonly subjected to the widespread use of "penny boards" in the 1930s and 40s, which people use to collect coins from circulation. But it is advisable to use proper coin cleaners. 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 from all others. Are wheat pennies worth anything? Central Banks Gold Bullion Buying Levels Highest Since Before World War II, Billionaire John Paulson Explains Why Buy Gold Bullion, World Gold Council Confirms Gold Buying Reporting Error. Stone estimates that 15 to 20 are known to collectors today, although it's possible that there are a few that have not yet been accounted for. This alloy is slightly heavier than the current zinc-plated alloy that the mint is currently using. Many citizens hoarded gold, silver, and copper coins as a store of wealth. Half Cent Values | All Half Cents are Rare. Toning of the surface continues, unless protected, to very deep shades of brown-black. Read on to find out what makes these 16 coins the most valuable U.S. pennies, based on over 250,000 public records and auction sales figures. They were struck in relatively large quantities, but they are still considered scarce by coin collectors due to their different varieties. Usually, they are excessively circulated and quite mistreated specimens with a flat design. The 1956 Penny is 95% copper and 5% zinc + tin in unlisted proportions. The best bullion deals straight to your inbox. 2. So, which of the 1982 Penny is worth a premium value? Experts claim that plates of this metal were slipped in during the minting by mistake. A Flying Eagle Cent in the well-worn condition is worth about $15 to $25 if you sold it to a coin dealer. They're not retail or "catalog" values like you find virtually everywhere else. Roughly 250,000 of these pennies were minted, he said. For instance, a 1944 penny in certified mint state (MS+) condition can fetch between $6 and $8 at an auction. No dings, scratches, the weight is right and it rings like copper. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. The official mintage for this date is 1,019,022 and while a few more were struck than the lower mintage 1925, it appears as though far fewer survived. For Barber, Liberty Nickels and Indian Head Cents coins the 7 letters of the word LIBERTY should be visible even if some are ill-defined. Superb Gem Uncirculated (MS-69): Perfectly coined with imperceptible imperfections, needing to be enlarged to see them. how much is it worth . One example circulated for a while before being picked up by a collector. However, a small number of copper pennies were struck in 1943 by accident, making them extremely rare and valuable. Good Grade: Heavy wear and a lack of remaining design is typical of a penny in Good grade. Red, shiny 1916-D pennies are worth much more than their brown or red-brown counterparts in an uncirculated mint state. There are few. Sold: January 2008; Heritage Auctions, Orlando, FL, FUN Signature Coin Auction. Coins in this grade are so good that they are often confused with MS grades (the higher grades we will see below). These steel planchets were used primarily in 1943. The usual 1 lb bags of Wheat Pennies include 148 coins, but it might vary. A consecutive streak lasts up to 7 days. The dies were prepared in the Philadelphia Mint and distributed to the other branches in June of 1909. Many large cents in nice condition with abundant detail remaining, are a valuable find. If you think you have a valuable historical penny or are interested in acquiring one for your collection, keep reading to learn about the ten most valuable pennies. Those in better condition can have double-digit value. Nowadays, a 1973 penny (yes, even one in worn condition) is worth about 2 cents. This abandoned high school was converted into a 31-unit apartment building. But we coin enthusiasts are always talking about the Doubled Liberty. As mentioned above, 1943 cents should have been minted with steel rather than copper due to the country's efforts in World War II. The edges start to be distinguished from the coin field, and some contours of the coin images. Some little pieces of copper can be worth some huge dollar amounts. It fetched $3,850 in a 2020 sale. Although many of them are actually from 1948, the 3 has been modified to look like an 8. For the world's rarest and most coveted pennies, values are well over $100,000 and approaching $2 million. Listed below are some of the physical properties of the penny. Many abrasions, scratches or marks. As a result, saving even a penny for a coin collection was not an option for most Americans. The United States Mint currently makes all one-cent coins on zinc planchets that have a thin layer of pure copper covering the entire surface. These new coins are known as the Lincoln Shield Reverse penny. Looking for more? It is also used to grade Proof pieces the 11 levels of MS although with its own acronym, ie PR-60 (=MS60), PR-61 (=MS61), PR-62 (=MS62), etc. Copyright 2007-2023 Daniel A. HarrisAll Rights Reserved. The Wheat Penny debuted in 1909 and production ceased in 1958, during President Eisenhowers term in office. Susan Headley is a well-respected coin collecting expert and writer with over 30 years of hands-on numismatic experience. Its value does not correspond to their size at all keep reading to know more. How to grade your Lincoln Penny Bonus: Beware of fraud Pennies worth money Chart 1. Although a wheat penny's face value is one cent, as a good rule of thumb, all wheat pennies, including common dates, are worth more than their face value. About Uncirculated (AU-53): Similar to the above, but the raised areas of the design have minimal smoothness. According to the official Red Book, this Lincoln cent coinage by the Philadelphia mint is a treasure for coin collections, as it can be worth nearly $3,000. Recommendations on basic supplies that greatly improve coin storage. The 1944 Wheat penny is a copper coin with no silver or tin content. The amount of copper in a pound of copper is 454 grams. If you have a proof coin from this year, it can sell for as much as $51 or more! Poor, poor (P-1): Few currency details. You can expect your coin to fetch between $0.80 and $65 in circulated condition. Sold: August 2017; Heritage Auctions, Denver, CO, ANA U.S. Some of these cents can become extremely valuable for coin collectors, like the first place on our list that reaches $100,000! Additionally, the value of a particular coin can vary between markets and coin dealers. View the average prices of certified Penny 1934 sold at auctions . Therefore, the number of pennies in a pound of copper is Accordingly, if the price of copper is $1.54 per pound, the value of the copper in a penny is equal (very nearly) to one cent. Fine, good (F-12): Important and uniform wear, but the most important elements can be seen with some clarity. These steel planchets were used primarily in 1943. 2023 SD Bullion, Inc. All rights reserved. Value: The value of this penny ranges from $35 to $1,200. Be on the lookout for the ultra-rare 1909-S VDB. What is the Australian 1943 penny worth? An uncirculated, mint condition 1856 Flying Eagle Penny can be worth between $19,000 and $24,000.00. For those . Less than one million of these coins were issued in 1877. Many of them are huge fans of Brightland, the brand behind the delicious olive oils and vinegars that you can add to a wide variety of foods. Very Fine, Very Good/Very Fine (VF-35): Full details but the highest points of the design are worn. How to Video: | Grading Indian Head Pennies, How to Video: | Grading Lincoln Wheat Pennies. From rare dates to rare very small details, if they are in your box you will find the rare pennies. 1873 Indian Head Penny 4. Uncirculated (MS+) Mint Condition can reach up to $2.28 to $3.30 or more. The design that is used in a particular denomination of coin over time is known as its type. What are pennies made of? Value: This coin ranges in value from about 35 cents to $3,000 if in mint condition. Superb Gem Uncirculated (MS-68): Strong coinage with tiny imperfections not visible to the naked eye. As always, the value of the coins may depend on grade and condition. For a coin like this to survive so long in pristine condition, it is evident that a collector in San Francisco back in 1914 must-have set it aside before it could become tattered and worn in circulation. Most of the large cents struck in 1857 never entered circulation and were later melted down. Both PCGS and NGC use the + symbol for the graduations of some parts and levels. And some coins are made more valuable simply by being unintentional, as with the 1943 Lincoln pennies that were mistakenly made with bronze rather than steel. Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. How much is a 1965 Penny Worth? Within a series, invariably certain dates are the commonly found issues. The reverse originally featured two stalks of wheat and this type was known as the Lincoln Wheat Penny. 2022 NATIONWIDE COIN & BULLION RESERVE. PCGS assigns the + only for the 30% of the parts with the greatest visual appeal for grades XF-45 to MS-68. The 1873 Indian Head Penny is notable for its production errors. This coin was first discovered in 1970 and was reported by Coin World on the front page in its July 8, 1970 edition. You do the same comparing to images of the different grades and matching your coin. They were made of 95% copper until 1982. The 1944 Wheat penny without a mint mark is worth about 15 cents. Although the doubling on these coins isn't as prominent as it is on the 1972 Doubled Die coins, Bucki said it's quite noticeable in the word "LIBERTY," especially in the letter "B." Or, for simpler attempts, soaking the coins in a vinegar solution would be a safe way to clean Wheat Pennies. (see details) Total Produced: 22,510,000 [?] Gem Uncirculated (MS-65): Good coinage with small marks or stripes. However, the flat spots do not connect, separation of high areas remain. As a collector, you eventually reach the point where you need to purchase your coins from a coin dealer or at auction to achieve the quality you want. For the best experience on our site, be sure to turn on Javascript in your browser. | Melt Value? For example, Lincoln cents feature a portrait of Lincoln on the obverse that has been there since 1909. A used coin could sell for $75 or less, while a cleaner one could go for around $200. examples of steel or bronze pennies are avidly sought by coin collector of United States coinage. Ed. - How Much is a Silver Dollar Worth? How much is a penny blank worth? A very popular and recognizable coin; from beginner to advanced collectors, all enjoy the collecting of Indian Head pennies. Gem Uncirculated (MS-66): Very good coinage with few stripes/marks. Copper, zinc Its history is full of variations and secrets that offer excellent opportunities for great profits! Valuable 2016 Penny Errors To Look For You can also find the price guide and value of Specimen and Proof pre-decimal coins. However, whenever we talk about coin prices, Creative Commons 3.0 no derivative works license, Most valuable rare Australian coins list and Value, Update list & Lincoln Penny value chart in 2023. The metal composition of a coin directly affects its weight. An excellent picture index of all major US coin series. While in the beginning, the steps are small, from $0.01 to $0.02, then to $0.04 and $0.08, on day 25, you are already at $167,772.16 and $2,684,354.56 on day 29, before . The Official Red book: A Guide Book of United States Coins. Cool 2. From Cents to Gold. Suppose you have Large Cents in your collection that you need information or values for. Since pennies hold a special place in almost every coin collector's heart, demand for high-quality coins can drive the value through the roof. USA Coin Book estimated the value of a 1940 Lincoln Wheat Penny to be worth $0.20 in Average Condition. The change lasted only a year, and in 1944, the bronze alloy returned to the Lincoln wheat cents again. Earlier this year, an ordinary looking penny made headlines when it was found among the possessions of a man named Don Lutes. The odds are long, but they're still well worth searching for. Newer Post Older Post Home. 1919 Lincoln Wheat Cent Specifications Composition: 95% Copper (Cu), 5% Tin (Sn) and Zinc (Zn) Coin Diameter: 0.75 inch (19 millimeters) Face Value = 1 Cent ($0.01) Weight: 0.10970 ounce (3.11 grams) Thickness: 0.05984 inch (1.52 millimeters) Written by Daniel Sandoval The Reverse Design of the 1897 Indian Head Penny. $22. As opposed to the 1955 Doubled Die Lincoln Cent, where thousands of them are known, there are only three 1958 Doubled Die Lincoln pennies known to exist. What makes this coin extremely rare is its exceptional condition that combines a nearly flawless coin with a sharp strike from a fresh set of coin dies. In high grades (MS67, MS68), Proofs, Uncirculated (MS+) or Mint Condition can be Worth until $21,275. Litvak-American sculptor Victor David Brenner inherited the task. Value:In average condition, this penny will be worth around $950 and in mint condition around $2,200. This is an indication that they were not "helped" by some unscrupulous mint employee. Today, the 1943 bronze Lincoln cent is described as "the most famous error coin in American numismatics" and the odds of finding one are astronomically against. By the way, experts believe that there are still many yet to be discovered! Australian penny 1911 to 1936 tap image for detailed information page George VI Australian penny 1937 to 1952 tap image for detailed information page The official legal tender of Australia before 1910 was United Kingdom currency. Bucki estimates that a 1992 Close AM coin in fairly new condition could be worth about $20,000, while a used one could sell for around $2,000 to $3,000. The record price for a 1943 Copper Wheat penny is the 2010 sale of the 1943-D for $1,750,000. A Flying Eagle Cent in the well-worn condition is worth about $15 to $25 if you sold it to a coin dealer. It is estimated that fewer than 20 were released by each of the Philadelphia and San Francisco mints. (Image credit: Heritage Auctions, HA.com), "On the reverse of the 1992 Close AM, the right foot of the 'A' and left foot of the 'M' in 'AMERICA' touch," said Stone. The most valuable 1909 S Indian Head Penny that is in excellent condition is worth up to $1,000. Heritage auctioned a similar one in slightly lower grade for $186,000 earlier this month," he said. The No D variety is the most valuable. This created an overnight sensation among coin collectors, and this penny has become known as the "Holy Grail" for collectors of Lincoln pennies. Within the different series of copper US coinage are certain qualities setting one coin apart from others. (Collectors refer to the obverse of a coin as the front or "heads" side usually bearing a portrait.) About Good, almost good (AG-3): Most of the design is appreciated. Value: Without a mint mark, it ranges in value from about 35 cents to $1,000. These are extremely rare and are worth up to $30,000. To graduate a piece we need both the grade and level, an alphanumeric grade. For some reason, the Denver Mint produced around 500,000 pennies without the D mint mark this mintage year. Due to its value, some counterfeits were created with steel cores. 1943 Lincoln Copper Wheat Pennies 3. Valuable because they are so popular. If we compare it with the following issue numbers of 7.9 and 5.9 million, we can understand why they are so expensive without having to search for hidden rarities.