Think pennies aren’t worth much? Think again. One lucky person recently discovered a rare penny in their loose change that ended up being worth a jaw-dropping $500,000. This isn’t just a once-in-a-lifetime story—there are more like it, and some could be sitting in your coin jar right now.
Let’s take a look at the $500,000 penny that stunned collectors and three other rare pennies that are worth thousands or even hundreds of thousands of dollars.
The $500,000 Penny: 1943 Copper Wheat Penny
In 1943, the U.S. Mint produced pennies using zinc-coated steel to preserve copper for World War II efforts. However, a few copper planchets mistakenly got into the presses and created what’s now known as the 1943 copper penny.
Only a handful exist, and their extreme rarity has pushed prices to over $500,000 at auction.
Key Identifiers:
- Year: 1943
- Material: Copper (not magnetic)
- Design: Same as standard 1943 wheat penny
- Weight: About 3.11 grams (heavier than steel version)
- How to Spot: If it’s not attracted to a magnet and it says 1943—it could be the jackpot.
1909-S VDB Lincoln Wheat Penny
This coin is prized for two reasons: it’s the first Lincoln cent ever produced, and it features the initials of designer Victor David Brenner—”VDB”—on the reverse. Due to controversy, the initials were quickly removed, and only 484,000 coins were minted in San Francisco.
Why It’s Valuable:
- Minted Only: 484,000
- Initials “VDB” clearly shown on the reverse bottom
- San Francisco Mint mark “S” below the date
- Highly sought after by serious collectors
Depending on condition, this penny can sell from $1,000 to over $90,000.
1955 Double Die Lincoln Penny
This penny is a textbook example of a minting error done right—at least for collectors. The 1955 Double Die penny has a clear and obvious doubling effect on the obverse text, making it one of the most famous and collectible error coins.
How to Identify:
- Year: 1955
- Error: Strong doubling of “LIBERTY” and “IN GOD WE TRUST”
- No Mint Mark (Philadelphia Mint)
- The doubling is very distinct, not subtle
A decent-condition example can fetch $1,000 to $16,000 or more.
1944 Steel Wheat Penny
After switching back to copper in 1944, a few steel planchets from 1943 were accidentally used. This created the extremely rare 1944 steel penny, a reverse error of sorts that’s worth serious cash.
What Makes It Special:
- Year: 1944
- Material: Steel (will stick to a magnet)
- Wrong Planchet: Steel used instead of copper
- Less than 30 examples known to exist
These coins have fetched up to $100,000 or more, depending on their condition and mint mark.
4 Rare Pennies Worth Big Money
| Coin Name | Year | Mint Mark | Unique Feature | Estimated Value |
|---|---|---|---|---|
| 1943 Copper Wheat Penny | 1943 | D, S or none | Copper instead of steel | $100,000 – $500,000+ |
| 1909-S VDB Lincoln Penny | 1909 | S | “VDB” initials on reverse | $1,000 – $90,000 |
| 1955 Double Die Penny | 1955 | None | Doubling on text | $1,000 – $16,000 |
| 1944 Steel Wheat Penny | 1944 | D, S or none | Steel instead of copper | $30,000 – $100,000+ |
How to Check Your Loose Change
You don’t need fancy equipment to start hunting for treasure in your spare change. Here’s how to begin:
- Use a Magnet: A simple magnet can help you identify steel vs. copper coins.
- Look for Dates: Pay close attention to coins from 1909, 1943, 1944, and 1955.
- Inspect the Text: Use a magnifying glass to look for doubling errors.
- Weigh It: Copper pennies weigh 3.11 grams, while steel ones weigh 2.7 grams.
Rare pennies are not just collector’s items—they’re potentially life-changing discoveries hiding in plain sight. Whether it’s the $500,000 1943 copper penny or a misprinted 1955 double die, your pocket change could be worth a fortune.
So next time you dump out your coins, give them a closer look. You might just find your golden (or copper) ticket.
FAQs
Can I still find these rare pennies in circulation today?
Yes, though it’s extremely rare. Some of these coins have been found in jars, attics, or coin rolls from banks.
How do I know if my 1943 penny is copper?
Try using a magnet. If it doesn’t stick and weighs around 3.11 grams, you may have something special.
Where can I sell a rare penny?
Consider certified coin dealers, major auction houses, or grading services like PCGS or NGC to get it professionally evaluated and sold.