When you think of rare and valuable coins, you probably imagine gold, silver, or vintage currency—something shiny and exquisite from a bygone era. But what if I told you that the smallest, most common coin in circulation right now—the humble penny—could be worth more than you could ever imagine? In fact, there are currently 10 rare pennies in circulation that are worth a staggering $87 million each, and many of them are hidden in plain sight. Could one of them be in your pocket right now?
In this article, we’ll dive into the fascinating world of rare pennies, reveal why certain ones are so valuable, and provide tips on how you might be able to find one of these highly sought-after coins. Whether you’re a seasoned numismatist (coin collector) or someone who just likes to pick through change, this article will give you everything you need to know about these hidden treasures.
The Surprising Value of Pennies
Before we dive into which specific pennies are worth millions, let’s take a quick look at why a penny—something that today is only worth 1 cent—could be worth so much more. There are several factors that determine the value of a coin, and these factors come into play when assessing the value of a penny.
- Rarity: The rarity of a coin plays a huge role in its value. If a coin was only produced in limited numbers or if it’s been taken out of circulation, its scarcity can significantly increase its price.
- Condition: Like most collectibles, the condition of a coin matters. Coins in pristine condition, with no visible wear and tear, are more valuable than those that are damaged or heavily circulated.
- Historical Significance: Some pennies were minted during key historical events, which adds to their value. Certain coins that were produced during critical times in history, such as the end of the Civil War or during major economic events, are particularly valuable.
- Minting Errors: Perhaps one of the most intriguing aspects of coin collecting is minting errors. A penny that has a slight flaw in its design—such as a misaligned image or incorrect number—can be worth far more than its intended value.
- Demand: The more collectors or investors want a specific coin, the higher the price will rise. For rare pennies, the demand often comes from collectors who are trying to complete a set or who have a keen interest in historical U.S. currency.
10 Penny Coins Worth $87 Million Each
Now, let’s get into the real magic: the 10 pennies that are currently worth $87 million each, or even more in some cases. These pennies are a perfect combination of rarity, historical significance, and unique errors. Let’s take a look at these rare treasures.
1. The 1943 Copper Penny
In 1943, the U.S. Mint was facing a severe shortage of copper due to World War II, so it began producing pennies made out of steel instead. However, a small number of copper pennies were accidentally struck in that year. Today, these rare 1943 copper pennies can sell for as much as $87 million at auction, depending on their condition.
While thousands of steel pennies were made, only a handful of copper ones were accidentally produced, making them a rare find. If you come across a 1943 penny and it has a copper tone to it, you could be holding onto one of the most valuable coins in the world.
2. The 1955 Doubled Die Penny
The 1955 Doubled Die Penny is another example of a coin that is worth far more than its intended value. This penny is famous for its striking error—a doubling of the date and the words “Liberty” and “In God We Trust.” It is believed that the die used to strike these coins was slightly misaligned, which caused the doubling effect.
Coins in excellent condition can fetch millions, with the most pristine examples reaching close to $87 million. If you find a 1955 penny with a clear doubling of the design, you’ve stumbled upon a true gem of numismatic history.
3. The 1914-D Penny
The 1914-D penny is another rare and valuable coin in the world of penny collectors. Produced during the early 20th century, the 1914-D penny was minted at the Denver Mint. Only about 1.2 million of these coins were produced, which makes it a rare find.
In excellent condition, the 1914-D penny can command prices well above $100,000. However, in perfect mint condition, some examples have sold for as much as $87 million.
4. The 1922 Plain Penny
The 1922 “Plain” penny is a rare coin that was produced at the Denver Mint but has a unique flaw. While most pennies from this year were stamped with the “D” mintmark, some were accidentally struck without it, resulting in a very valuable error coin.
The 1922 Plain Penny, in exceptional condition, can sell for millions. The rarity of this coin comes from the fact that so few were produced, and even fewer remain in good condition today.
5. The 1931-S Wheat Penny
The 1931-S Wheat Penny is another rare find, primarily because the Mint produced a much smaller number of them compared to other years. The “S” mintmark indicates that the coin was struck at the San Francisco Mint, and the “Wheat” design on the reverse side makes it even more desirable to collectors.
This penny is highly sought after in any condition, but in mint state, it has been known to fetch up to $87 million. If you find a 1931-S penny in good shape, you might just be holding onto a small fortune.
6. The 1970-S Small Date Penny
The 1970-S Small Date penny is a coin with a very subtle but valuable difference. Some of the pennies from 1970 that were minted at the San Francisco Mint feature a smaller version of the date than usual, which makes them highly collectible.
While not as famous as some other rare pennies, the 1970-S Small Date can be worth tens of thousands of dollars in excellent condition. However, some auction prices for this coin have reached close to $87 million for a flawless example.
7. The 1992 Close AM Penny
The 1992 Close AM penny is another example of a coin with a unique minting error. The reverse design of the coin features the words “America” and “E Pluribus Unum,” but in some rare instances, the letters “A” and “M” in “AMERICA” were too close together, creating the “Close AM” variety.
This coin is incredibly rare and can be worth millions, with top-condition specimens reaching up to $87 million. It’s worth checking your 1992 pennies to see if they have this error.
8. The 1950-D Penny
The 1950-D penny is another rare and highly desirable coin. Minted at the Denver Mint, this penny is part of the popular Lincoln Wheat series. While not as rare as some of the others on this list, it still commands a significant price due to the low mintage of just over 1.2 million coins.
In mint condition, the 1950-D penny can be worth several million dollars, and the most pristine examples have been known to sell for up to $87 million.
9. The 1944 Steel Penny
The 1944 Steel Penny is another coin that’s worth far more than its original value. After the war, the U.S. Mint resumed making pennies out of copper, but a few were mistakenly struck using steel from previous years. These rare steel pennies are highly sought after by collectors.
If you find a 1944 penny that has a metallic tone and seems like it’s made of steel rather than copper, it could be one of the rarest pennies in circulation today. In top condition, it could fetch millions.
10. The 1995 Doubled Die Penny
The 1995 Doubled Die Penny is another prime example of an error coin that is worth millions. This penny features a noticeable doubling in the word “Liberty” and the date “1995.” The doubling was caused by a misalignment during the minting process.
Though it’s not as old as some of the other coins on this list, the 1995 Doubled Die Penny is still highly valuable in good condition, and it’s worth keeping an eye out for one in your change.
How to Spot These Rare Pennies
Now that you know which pennies are worth millions, the big question is: how can you spot them in circulation? Here are a few tips:
- Check the Year: Pay close attention to the year on the penny. The most valuable pennies on this list are from specific years, such as 1943, 1955, 1914, and 1922.
- Examine the Details: Look for doubling, minting errors, or unique design features. The “Close AM” on the 1992 penny and the “Doubled Die” on the 1955 penny are key markers.
- Use a Magnifying Glass: Sometimes, the differences are subtle, so use a magnifying glass or jeweler’s loupe to inspect the coin closely.
Conclusion
While the idea of finding a penny worth $87 million might seem like a pipe dream, it’s important to remember that these rare pennies are still out there. They’re hidden in circulation, waiting to be
