Pennies are likely in your pocket or purse if you’ve ever looked for change. Most people conceive of pennies as small, insignificant coinage used in everyday transactions. If you’ve been throwing out or ignoring Lincoln pennies, you may be sitting on a gold mine. Many rare and limited-edition Lincoln coins are worth much more than their face value. Lincoln pennies can sell for $1 million or more depending on their rarity, condition, and history.
Find out about Lincoln pennies in your spare change in this article. We’ll examine the most valuable Lincoln coins, how to recognize them, and how to have your coins assessed or sold for top price. This book will help you comprehend Lincoln coins’ amazing potential, whether you’re a veteran collector or just curious.
The Lincoln Penny Legacy
Let’s learn about the Lincoln penny’s history before discussing the coins that could be worth a fortune.
The U.S. Mint introduced the Lincoln Cent (Lincoln Penny) in 1909 to commemorate President Abraham Lincoln’s 100th birthday. Sculptor Victor David Brenner designed the “wheat penny.” Its reverse depicted a wheat sheaf. In 1959, the Lincoln penny’s reverse changed from wheat sheaves to the Lincoln Memorial, and in 2010, to the Union Shield.
The Lincoln penny is one of the most famous U.S. coins despite being in circulation for over a century. Due to rarity, limited mintage, or distinctive features, collectors prize specific Lincoln penny varieties.
Special Lincoln Coins Worth $1 Million
Most Lincoln pennies are worth one cent, but a few might fetch $1 million or more. Which Lincoln coins should you seek? The most valued Lincoln pennies are listed here.
1909-S VDB Lincoln Cent
Perhaps the most famous and sought-after Lincoln penny is the 1909-S VDB Lincoln Cent. A modest but important design alteration makes this coin unusual. To honor designer Victor David Brenner, the U.S. Mint issued Lincoln pennies with a conspicuous “VDB” on the reverse in 1909. After popular criticism, the initials were erased from the coin later that year. Many thought they were too prominent and distracting.
San Francisco mints coins with the “S” mintmark. The **1909-S VDB** is uncommon since only 484,000 were made. Due to its rarity and historical significance, a 1909-S VDB Lincoln Cent in immaculate condition can sell for $1,000 to over $1 million at auction.
1914-D Lincoln Cent
Another popular coin among collectors is the 1914-D Lincoln Cent. Due to its limited mintage of 1.1 million coins, the 1914-D penny is highly desirable. The coin’s “D” mintmark signifies Denver production, and its low mintage and age make it valuable.
In good condition, a 1914-D Lincoln penny can sell for $1,000, and in near-perfect or MS-65 condition, it can cost for $100,000 or more. A gem-quality 1914-D Lincoln Cent can sell for over $1 million at auction, depending on rarity and grade.
1922 No D Lincoln Cent
Another coin collector favorite is the 1922 No D Lincoln Cent. A few pennies without the Denver mintmark (the “D”) were made, creating this mistake coin. Production dies were worn, therefore the mintmark was mistakenly deleted.
Few 1922 No D pennies remain. Collectors love it for its rarity and limited mintage. In lesser grades, these coins are worth a few hundred dollars, while flawless examples have sold for over $1 million at auction.
1931-S Lincoln Cent
The 1931-S Lincoln Cent is unusual since the U.S. Mint manufactured few pennies in San Francisco that year. Because the mintage was tiny and most pieces are in poor condition, the 1931-S Lincoln penny is valuable.
In mint condition, coins with a sharp striking, complete brilliance, and minimal wear can sell for thousands of dollars, while exceptional pieces can reach six figures. Depending on grade and demand, rare 1931-S pennies have sold for over $1 million at auctions.
1970-S Doubled Die Obverse Lincoln Cent
Error coin collectors also want the 1970-S Doubled Die Obverse Lincoln Cent. The “doubled die” alludes to a minting error that misplaced the coin’s die, doubling Abraham Lincoln’s face and “LIBERTY.” The 1970-S penny is a rare and valuable mistake coin due to this imperfection.
Although less rare than older Lincoln pennies, the 1970-S Doubled Die is nevertheless very collectible and can sell for several hundred dollars to several thousand dollars, depending on condition. MS-65 coins have sold for $1,000 or more, while rare ones have sold for over $100,000.
FAQs
How can I tell if my Lincoln penny is worth $1 million?
Rarity: Look for coins from years with limited mintage or those produced with special features (like the 1909-S VDB or 1922 No D).Condition: The condition, or grade, of the coin is a major determinant in its value. Coins in “mint state” (MS-60 or above) will be worth much more than heavily worn ones.
Where can I sell my rare Lincoln coins?
Auction Houses: Specialized coin auction houses like Heritage Auctions and Stack’s Bowers Galleries often hold auctions where rare coins can fetch top dollar.Coin Dealers: Reputable coin dealers who specialize in rare and collectible coins can provide a fair offer for your pennies.
What factors affect the value of a Lincoln penny?
Year and Mintmark: Certain years and mintmarks are rarer than others, such as coins minted in San Francisco or Denver.Condition: The better the condition, the higher the value. Coins with little wear, sharp details, and original luster will fetch higher prices.
How can I protect and preserve valuable Lincoln pennies?
Avoid Cleaning: Cleaning coins can scratch or damage them, reducing their value. Always leave the coin in its natural stateUse Protective Holders: Store your coins in acid-free holders or capsules designed for coin storage. This helps protect them from dirt, moisture, and physical damage.