United States pennies are full of history and are a true symbol of America. These coins have been used and valued throughout many important periods in American history. With so many rare and valuable penny varieties, these small coins are fascinating to collect.
There are several reasons why some pennies became so rare. Some were produced in years when only a small number were minted. Others have errors or unique features, either from mistakes or special designs during the minting process. In this blog from L&C Coins, we will look at seven of the rarest pennies you can find — pennies worth far more than just a cent!
1. 1856 Flying Eagle Cent
The 1856 Flying Eagle Cent is one of the rarest and most valuable pennies. It’s definitely worth looking for. Only around 1,000 of these coins were made by the US Mint as an unauthorized pattern coin in 1856, though the exact number is not known. Once the coin was officially approved, 17,450,000 were produced in 1857, and 24,600,000 in 1858.
This cent was the first small-sized penny made by the United States Mint. It was only used for two years before being replaced by the Indian Head Cent. The coin features a flying eagle on one side, with “ONE CENT” surrounded by a wreath on the other side.
2. 1864 Indian Head Penny – “L” on Ribbon
The 1864 Indian Head Penny with an “L” on the ribbon is not a variety coin, but it’s still one of the rarest and most well-known pennies for collectors. Designed by James Barton Longacre and minted in Philadelphia, this coin didn’t have the “L” for Longacre’s initial until 1864, when it was added to the ribbon on the front, making it a popular collector’s item.
The 1864-L penny is hard to find in circulated condition and even rarer in mint state. While it’s worth a little over $100 in average condition, it can sell for over $500 in mint condition.
3. 1909-P and 1909-S VDB Lincoln Pennies
The 1909 VDB Lincoln Penny is a key, low-mintage coin made by the San Francisco and Philadelphia Mints. When the Lincoln Penny replaced the Indian Head Penny in 1909, it featured the initials of its designer, Victor David Brenner, on the back. However, the public didn’t like the placement of the initials, so the design was changed shortly after its release, removing the initials.
About 27,995,000 VDB pennies were minted in Philadelphia, but only 484,000 were made in San Francisco, making it a rare penny. In average condition, these coins are worth $25-$35, but proof coins can be worth over $3,000!
4. 1943 Lincoln Cent Struck on Bronze Alloy
The 1943 Lincoln cent struck on bronze alloy is a rare Mint error coin. Before 1943, pennies were made of 95% copper, 5% tin, and zinc. However, in 1943, the Mint switched to steel. By mistake, some bronze planchets from 1942 were used to strike these coins, resulting in this highly sought-after penny.
The 1943-S version, made at the San Francisco Mint, is the rarest, with only six known examples. The highest price ever paid for a 1943 bronze cent was $82,000 in 1996.
5. 1944-S Lincoln Steel Penny
The 1944-S Lincoln Steel Penny was minted in San Francisco and features the classic Lincoln Wheat Penny design by Victor D. Brenner. This coin is considered a Mint Error, not a variety penny, due to its rare off-metal striking. The error happened when a leftover steel blank from 1943 was mistakenly used during the production of 1944-S Bronze Cents.
Only two of these steel pennies are known to exist. In uncirculated condition, they are worth over $700,000, making this one of the rarest and most valuable pennies in the world.
6. 1969-S Lincoln Penny – Doubled Die Obverse
The 1969-S Lincoln Penny – Doubled Die Obverse is one of the rarest pennies collectors look for. Designed by Victor D. Brenner and Frank Gasparro, this coin features Abraham Lincoln on the front and the Lincoln Memorial on the back. The doubled die obverse variety shows noticeable doubling on the date, the word “LIBERTY,” and the phrase “IN GOD WE TRUST.”
It is believed that fewer than 100 authentic 1969-S double die obverse pennies were made. These rare coins can sell for tens of thousands of dollars today.
7. 1958 Doubled Die Obverse Cent
If you’re looking for a truly rare penny worth hundreds of thousands of dollars, the 1958 doubled die obverse penny is the one to find. It is the rarest variety penny of the 20th century. Only three examples of this coin are known to exist today, and they can sell for over $300,000 at auction.
This Lincoln Wheat Penny shows strong doubling in the date, the word “LIBERTY,” and the phrase “IN GOD WE TRUST.” It was produced by the Philadelphia Mint.
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