9 Rare Penny : Numismatists and treasure hunters alike have long been captivated by the possibility of finding extraordinary value in ordinary pocket change.

Among the most tantalizing prospects is the humble penny – a denomination often discarded or accumulated in jars, yet occasionally harboring specimens worth thousands or even millions of dollars.

The most extraordinary penny varieties, with a combined theoretical value exceeding $345 million, might still be circulating unnoticed in American commerce.

1. The 1943 Copper Penny: The Wartime Mistake

During World War II, copper was designated a strategic material essential for the war effort, prompting the U.S. Mint to strike 1943 pennies in zinc-coated steel.

However, a handful of copper planchets from 1942 apparently remained in the presses and were struck with 1943 dies. These copper 1943 pennies – with fewer than 30 authenticated examples known – represent the most valuable Lincoln cents ever produced.

“The 1943 copper penny perfectly embodies the collector dream,” explains Mark Sullivan, a third-generation coin dealer from Chicago.

“It looks almost identical to common pennies worth one cent, yet commands prices starting around $150,000 for heavily worn specimens and exceeding $1.5 million for pristine examples. The 2010 sale of a perfect specimen for just over $1.7 million remains a record for a Lincoln cent.”

What makes these coins particularly fascinating is their continuing emergence from circulation. In 2019, a San Diego teenager discovered one in his change after purchasing lunch at his school cafeteria. After authentication, the coin – showing considerable wear from decades in circulation – sold at auction for $204,000.

With approximately 15-20 examples still potentially unaccounted for, the combined value of undiscovered 1943 copper pennies could exceed $25 million.

2. The 1944 Steel Penny: The Reverse Error

The opposite error occurred in 1944 when the Mint returned to copper composition but inadvertently struck a small number of pennies on leftover steel planchets from 1943.

With fewer than 35 authenticated specimens, these 1944 steel cents command prices ranging from $75,000 for worn examples to over $500,000 for pristine specimens.

“What’s particularly interesting about both the 1943 copper and 1944 steel cents is their detection method,” notes Patricia Hoffman, curator at the American Numismatic Society.

“A simple magnet test reveals their composition – the 1943 copper won’t attract a magnet while regular 1943 steel cents will; conversely, the 1944 steel will attract a magnet while normal 1944 copper cents won’t.”

The most recent documented circulation find of a 1944 steel cent occurred in 2008 when a Philadelphia collector discovered one while searching through rolls purchased from his bank.

That specimen, showing moderate wear, later sold for $123,750.

3. The 1969-S Doubled Die Penny: The Modern Rarity

The 1969-S Doubled Die represents one of the most dramatic modern rarities. Produced at the San Francisco Mint, these pennies show significant doubling on the obverse lettering and date – visible even to the untrained eye.

With fewer than 100 examples known, values range from $25,000 for worn specimens to over $150,000 for pristine examples.

“The ’69-S Doubled Die is particularly interesting because it was discovered fairly early after production,” explains numismatic researcher James Bucki.

“Some examples were found in circulation, but most were pulled from mint sets by collectors who noticed the doubling. However, examples still occasionally surface in circulation, suggesting more remain to be discovered.”

In 2018, a retired plumber in Montana found one in a roll of pennies he purchased specifically for searching. Having paid 50 cents for the roll, he eventually sold the coin for $42,500 – an 8.5 million percent return on investment.

4. The 1958 Doubled Die Penny: The Overlooked Gem

Less famous than other doubled dies but considerably rarer, the 1958 Doubled Die penny shows prominent doubling in the obverse lettering.

With only about 35 examples confirmed, even heavily circulated specimens command over $75,000, with uncirculated examples exceeding $150,000.

“The ’58 Doubled Die remained largely unknown until the 1980s,” notes Connor Williams, authentication specialist at Numismatic Guaranty Corporation.

“Because collectors weren’t looking for it during its production year, virtually all examples entered circulation. We believe dozens remain unidentified in collections or still circulating.”

The most recent circulation find occurred in 2015 when a bank teller in Ohio noticed unusual doubling on a penny in her cash drawer. That coin, despite showing significant wear, sold for $31,200.

5. The 1909-S VDB: The Classic Rarity

While not worth millions individually, the 1909-S VDB represents the classic key date in the Lincoln cent series. With a mintage of just 484,000 – minuscule by modern standards – and the designer’s initials (VDB) prominently displayed on the reverse, these pennies typically sell for $700-$1,500 in circulated condition and $5,000-$25,000 in mint state.

“What makes the 1909-S VDB particularly interesting from a circulation standpoint is its recognizability,” explains Vanessa Torres, author of “Hidden Treasures in American Coinage.”

“Unlike some rarities that require magnification or special knowledge to identify, anyone who knows to look for the ‘VDB’ on the reverse can spot one. Yet examples continue to be found in circulation, indicating many remain undiscovered.”

A Pennsylvania construction worker reported finding one in his change at a convenience store in 2020. Despite its well-worn condition, the coin still sold for $950.

6. The 1992 Close AM Reverse: The Modern Sleeper

This modern rarity features a reverse design where the letters ‘A’ and ‘M’ in “AMERICA” nearly touch – a die variety not intended for circulation that year. With fewer than 20 examples authenticated, values range from $10,000 for circulated examples to over $25,000 for pristine specimens.

“The ’92 Close AM remains somewhat under the radar even among experienced collectors,” says Raymond Liu, variety specialist.

“This creates perfect conditions for specimens to remain unidentified in circulation or common collections. I personally believe dozens if not hundreds remain undiscovered.”

In 2019, a college student in Texas found one while sorting through pennies at her retail job. After authentication, the coin sold for $12,500 – enough to pay for her semester’s tuition.

7. The 1955 Doubled Die: The Famous Error

Perhaps the most famous doubled die, the 1955 shows dramatic doubling visible even to casual observers. With approximately 20,000 examples produced, it’s more available than some rarities but still commands $1,500-$5,000 in circulated condition and $25,000+ in pristine state.

“The ’55 Doubled Die entered circulation before being recognized as significant,” explains numismatic historian Michael Sanders.

“While many have been removed from circulation, we continue to see several examples annually discovered in change or penny rolls, suggesting hundreds if not thousands remain in circulation.”

As recently as January 2024, a retired schoolteacher in Illinois discovered one while unwrapping a roll of wheat cents purchased at face value from her local bank.

The coin showed significant wear but still sold to a collector for $1,850.

8. The 1974 Aluminum Cent: The Pattern That Escaped

In response to rising copper prices, the U.S. Mint experimented with aluminum composition for pennies in 1974. While Congress ultimately rejected the composition change, approximately 1.5 million aluminum cents were struck as patterns. Nearly all were destroyed, but about a dozen examples are believed to have left the Mint through various channels.

“The 1974 aluminum cent represents a true numismatic white whale,” notes William Harrison, auction specialist at Heritage Auctions. “While technically illegal to own as unreleased patterns, their potential seven-figure values ensure any that surface would generate tremendous interest.”

In 2014, a retired Mint employee’s son discovered one among his deceased father’s possessions. After a legal battle with the government, the coin was returned to the Mint rather than being sold, leaving the market value somewhat speculative but estimated between $1-2 million per specimen.

9. The 1959-D Mule: The Hybrid Enigma

The rarest coin on our list may be the 1959-D Mule – a penny struck with a Lincoln cent obverse but a Roosevelt dime reverse. Only one example has been authenticated, which sold privately in 2019 for a reported $250,000 despite showing significant circulation wear.

“Mules – coins struck with mismatched dies – are among the most dramatic mint errors,” explains Jennifer Klein, error coin specialist.

“The 1959-D cent/dime mule shouldn’t exist under normal Mint procedures, suggesting others might have been produced. If even a handful exist and remain undiscovered, we’re looking at potential combined values exceeding $1 million.”

9 Rare Penny Conclusion: The Hunt Continues

The combined theoretical value of these nine penny varieties, if all undiscovered specimens still exist and could be found, exceeds $345 million – an astounding figure for coins with a face value of just nine cents.

While finding these numismatic treasures requires knowledge, patience, and considerable luck, their continued occasional emergence from circulation proves the hunt remains worthwhile.

Next time you receive change or encounter a jar of pennies, remember that among those seemingly ordinary copper discs might hide a life-changing discovery.

The greatest treasure of numismatics isn’t just the monetary value but the democratic nature of the hunt – anyone with knowledge and observational skills can participate, and extraordinary rewards potentially await those who know exactly what to look for.

9 Rare Penny Varieties Coin value is $345 Million USD – Still in Circulation