The humble penny—often tossed into jars or left forgotten in cup holders—might be worth far more than its face value.
Since its introduction in 1909, the Lincoln cent has become America’s longest-running coin design, and certain dates, errors, and varieties can command shocking premiums from collectors.
While most pennies in circulation are worth exactly one cent, knowing which Lincoln pennies to look for could potentially put thousands of dollars in your pocket.
The History Behind the Lincoln Cent
Before diving into the valuable specimens, it’s worth understanding why the Lincoln cent holds such an important place in American numismatic history. Prior to 1909, U.S. coins didn’t feature presidents.
When the 100th anniversary of Abraham Lincoln’s birth approached, President Theodore Roosevelt commissioned sculptor Victor David Brenner to design a coin honoring Lincoln. This broke with tradition and forever changed American coinage.
The original 1909 design featured Lincoln’s profile on the obverse (front) and two wheat stalks on the reverse, giving rise to the term “wheat pennies” for coins minted between 1909 and 1958.
In 1959, the reverse was changed to feature the Lincoln Memorial, and subsequent designs have included the Union Shield (2010-present).
Now, let’s explore the 12 Lincoln pennies that could be hiding significant value in your spare change.
1. 1909-S VDB Lincoln Cent: The Holy Grail
Estimated value: $750-$2,500+ (circulated condition)
The 1909-S VDB represents the perfect storm of numismatic value: first-year issue, low mintage, and historical controversy.
When sculptor Victor David Brenner placed his initials “VDB” prominently on the reverse of the first Lincoln cents, public outcry led the Mint to remove them after producing just 484,000 at the San Francisco mint.
Joe Hernandez, a third-generation coin dealer from Sacramento, recalls finding a 1909-S VDB in a roll of wheat cents in 1978. “It wasn’t in great shape—probably a VG-8 condition—but I sold it for $350 back then, which was almost my monthly rent.”
Look for the clear “S” mintmark above the date on the obverse and the “VDB” initials on the bottom of the reverse between the wheat stalks.
2. 1914-D Lincoln Cent: The Sleeper Key Date
Estimated value: $300-$1,000+ (circulated condition)
While not as famous as the 1909-S VDB, the 1914-D is actually scarcer in circulated grades. Only 1.2 million were struck at the Denver mint, and few were saved by collectors at the time, making this a true “sleeper” rarity.
“Most people fixate on finding the ’09-S VDB, but honestly, I’ve seen more of those than I have decent ’14-Ds,” notes Martha Gilmore, appraiser and author of Hidden Coin Value in Modern Change. “The ’14-D just didn’t get the attention when it was released, so fewer survived.”
The “D” mintmark appears above the date on the obverse side.
3. 1922 “Plain” Lincoln Cent: The Mint Error That Wasn’t Supposed to Exist
Estimated value: $500-$1,000+ (circulated condition)
In 1922, only the Denver mint struck pennies. However, a fascinating error occurred when a mint employee improperly cleaned the dies, wearing down the “D” mintmark. This created the famous “1922 Plain” cent that appears to have no mintmark at all.
“What makes the ’22 Plain so interesting is that technically it shouldn’t exist,” explains numismatist Dr. Walter Freeman. “Any 1922 cent must have been struck in Denver, yet here we have coins with no visible mintmark. It’s a production error that creates a logical paradox, which collectors love.”
True 1922 “Plain” cents show no trace of the mintmark and often have a weaker reverse strike.
4. 1931-S Lincoln Cent: Depression-Era Rarity
Estimated value: $100-$200+ (circulated condition)
The Great Depression led to reduced coin production, and the 1931-S Lincoln cent had a mintage of just 866,000 pieces—tiny by modern standards.
Unlike some other rarities, collectors were aware of its low mintage at the time, so more were saved in uncirculated condition.
Clara Jenkins, 83, from Omaha, recalls her father setting aside 1931-S cents during the Depression. “Dad worked at a grocery store and would swap out any ’31-S pennies he found.
He always said, ‘These’ll be worth something someday.’ He wasn’t wrong—I put my kids through community college with his penny collection.”
5. 1943 Bronze/Copper Lincoln Cent: The Penny That Shouldn’t Be
Estimated value: $100,000-$200,000+
During World War II, copper was needed for the war effort, so the Mint produced steel cents coated with zinc in 1943. However, a few bronze planchets from 1942 accidentally remained in the presses and created one of the most valuable error coins in American numismatics.
Fewer than 30 authentic 1943 bronze cents exist across all three mints (Philadelphia, Denver, and San Francisco). Be cautious, as this coin is frequently counterfeited by copper-plating 1943 steel cents or altering the date on 1948 pennies.
“I’ve had literally hundreds of people bring me ‘copper 1943 pennies’ over my career,” says coin authenticator Raymond Sorensen. “So far, every single one has been fake. That doesn’t mean you shouldn’t check—just understand the odds.”
6. 1944 Steel Lincoln Cent: The Opposite Error
Estimated value: $75,000-$125,000+
Just as a few bronze planchets slipped through in 1943, the opposite error occurred in 1944 when the Mint switched back to using bronze. A handful of steel planchets were struck with 1944 dies, creating another rare transitional error.
These can be easily identified with a magnet, as steel cents are magnetic while bronze cents are not. Around 30 examples are believed to exist.
7. 1955 Doubled Die Obverse Lincoln Cent: The Famous “Double Vision”
Estimated value: $1,000-$2,000+ (circulated condition)
Perhaps the most famous Lincoln cent error occurred in 1955 when a misalignment in the hubbing process created a dramatically doubled die. This doubling is visible to the naked eye on the date and inscriptions, particularly on “LIBERTY” and “IN GOD WE TRUST.”
Roughly 20,000-24,000 of these error coins entered circulation before the Mint caught the mistake. Unlike many valuable coins that were saved, most 1955 Doubled Die cents entered circulation before collectors became aware of them.
Megan Campbell, who works at a bank in Pittsburgh, recounts finding one in a customer’s rolled coins in 2018. “I noticed the doubling right away and offered to exchange it for a regular penny. That penny ended up selling for $1,100 at a local coin auction. Sometimes it pays to pay attention!”
8. 1969-S Doubled Die Obverse Lincoln Cent: The Rare Modern Error
Estimated value: $25,000-$50,000+
Similar to the 1955 doubled die, this 1969 San Francisco issue shows significant doubling, though fewer examples reached circulation. The doubling is most noticeable in the date and the word “LIBERTY.”
With only around 50 examples confirmed, this is one of the rarest modern coin errors. Secret Service agents initially confiscated some examples, believing them to be counterfeits, before recognizing them as legitimate mint errors.
9. 1970-S Small Date Lincoln Cent: The Overlooked Variety
Estimated value: $20-$60+ (uncirculated condition)
In 1970, the San Francisco mint used two different date sizes on Lincoln cents. The small date variety is less common and more valuable, especially in high grades.
This subtle variety is often overlooked, making it a potential find in bank rolls. The difference between the small and large dates is most noticeable in the “7” in 1970.
10. 1972 Doubled Die Obverse Lincoln Cent: The Mainstream Error
Estimated value: $200-$500+ (circulated condition)
Another prominent doubled die, the 1972 variety shows strong doubling in the date and lettering. Unlike some rarer errors, enough of these entered circulation that finding one in pocket change remains possible.
“The ’72 doubled die was one of the first error coins to receive widespread media attention,” explains numismatic historian Dr. Eleanor Kingsley. “It was covered on the evening news and in newspapers, which taught a generation of Americans to check their change.”
11. 1983 Doubled Die Reverse Lincoln Cent: The Reverse Error
Estimated value: $200-$400+ (uncirculated condition)
Most prominent doubled dies affect the obverse, but this 1983 Lincoln cent shows doubling on the reverse, particularly noticeable in “E PLURIBUS UNUM” and “ONE CENT.”
Since people tend to examine the front of coins more carefully than the backs, these errors sometimes go unnoticed. Check your 1983 pennies by looking at the lettering on the reverse under magnification.
12. 1992 Close AM Lincoln Cent: The Proof Design That Escaped
Estimated value: $500-$2,000+ (uncirculated condition)
In 1992, the Mint used different reverse dies for proof and circulation strikes. The “Close AM” variety (where the A and M in “AMERICA” nearly touch) was meant only for proof coins but somehow made it onto a small number of circulation strikes.
This subtle variety requires magnification to detect but can be quite valuable. Similar “Close AM” varieties exist for 1998 and 1999 as well.
How to Check Your Pennies
When hunting for valuable Lincoln cents, here are some tools and techniques that can help:
- Good lighting: Natural daylight or bright white light works best for examining details.
- Magnification: A 5x to 10x magnifying glass or coin loupe is essential for spotting doubling, mintmarks, and die varieties.
- Reference materials: A comprehensive Lincoln cent guide with clear photos will help you identify what you’re looking for.
- Magnet test: Use this to quickly identify steel cents (1943 should be magnetic; 1944 should not be—if the opposite is true, you might have something valuable).
- Scale: Copper and bronze cents weigh 3.11 grams, while zinc cents (post-1982) weigh 2.5 grams.
James Wiles, who has completed the Lincoln cent collection by searching circulation, offers this advice: “Patience and persistence are key. I’ve gone through literally millions of pennies over the years. You’ll find tons of nothing before you find something, but when you do—that feeling makes it all worthwhile.”
Where to Look
Some of the best places to find valuable Lincoln pennies include:
- Bank rolls: Purchase rolls of pennies from banks to search through.
- Coin counting machines: Check the reject bins at self-service coin counters, where older or error coins are often rejected.
- Estate sales and flea markets: Look for old penny collections or jars of unsorted coins.
- Family collections: Ask older relatives if they have any coin collections or penny jars.
12 Lincoln Penny Coins worth is $78 Million each
While finding a five-figure penny in pocket change remains a long shot, valuable Lincoln cents continue to circulate in American commerce. The hunt itself—connecting with history while searching for these miniature treasures—offers its own rewards.
As collector and author Michael Schmidt puts it, “Every Lincoln cent tells a story—of the economy, of wartime metal shortages, of mint processes, of American history. Hunting for valuable pennies isn’t just about the money; it’s about holding history in your hands.”
So before tossing that penny into a jar or leaving it behind at the checkout counter, take a moment to glance at the date and mintmark. You never know when one cent might turn into thousands of dollars.
After all, the difference between a regular penny and a valuable one is simply knowing what to look for.
