While businesses across the country grapple with a nationwide penny shortage on the heels of the last penny being minted, you might want to take a closer look at your coin jar before cashing in your loose Lincolns. A handful of pennies could be worth a lot more than their face value, with some rare coins capable of fetching fortunes at auction.
What Makes a Penny Valuable?
Three key factors separate pocket change from auction-worthy treasure:
1. The Date Range (1909-1958)
The most sought-after pennies are “wheat pennies” produced between 1909 and 1958. Unlike modern pennies featuring the Lincoln Memorial, these coins display two wheat sheaves on the reverse side. They’re one of the most commonly collected U.S. coins today, and some of the most valuable types are reportedly worth about $2 million.
2. Unusual Materials
Wartime production created valuable anomalies. In 1943, the U.S. Mint switched to zinc-coated steel to conserve copper for the war effort. A bronze penny from that year — a mistake that happened when a small amount of leftover bronze planchets from 1942 were unintentionally used in the presses — sold for $840,000 in 2021. The reverse is also true: a 1944 steel penny (when production went back to copper) brought in $168,000 at auction.
3. The ‘V.D.B.’ Initials
Early wheat pennies with the initials “V.D.B.” beneath the wheat sheaves are also sought-after. Sculptor-engraver Victor David Brenner designed these mark coins. One V.D.B. penny sold for $365,000 in 2022, with uncirculated pennies being the most valuable.
How Much Could Yours Be Worth?
According to coin expert Dave Sorrick of In God We Trust, even a circulated 1909 wheat penny could fetch $700 to $1,500 depending on its condition. Uncirculated, graded examples from the same year can command $2,000 to $3,000 or more.
Before You List That Penny on eBay …
Experts recommend having coins professionally appraised before listing them for sale. Online guides provide general estimates, but condition, rarity, and authenticity require trained evaluation.
As for those copper-plated zinc pennies minted in recent decades, they’re probably worth exactly one cent. You might get more value trading them for the freebies some retailers are currently offering than selling them to collectors. Still, it’s worth a few minutes to check those wheat sheaves and dates. Your penny jar might be hiding a small fortune.
More collectible stories on Cheapism
- ‘Collectible’ Figurines That Boomers Waste Money On — Boomers loved to buy these tiny statues, and fell for the marketing that they were somehow “collectible” pretty hard.
- Collectibles You Probably Tossed That Are Now Worth a Fortune — Discover some things you might’ve owned that are worth hundreds or even thousands of dollars today.
- Collectibles From the ’70s That Are Now Worth a Fortune — Every decade has valuable nuggets to mine, and the 1970s are no exception.
