Most pennies are worth just a cent, but a few rare ones have stunned collectors by selling for hundreds of thousands—or even millions. One of the most famous is the 1943 Bronze Lincoln cent, which made headlines recently when a coin found by a high schooler decades ago sold for $204,000 at auction.
The truth is, rare pennies like this could still be hiding in plain sight—maybe even in your change jar.
Let’s look into why some Lincoln cents are so valuable and what coins you should be looking for.
Finding
In 1947, a 16-year-old named Don Lutes received a penny in his school cafeteria. That simple exchange would turn out to be life-changing. The coin was a rare 1943 Bronze Lincoln cent—a mistake coin produced when the U.S. Mint was supposed to be making pennies from zinc-coated steel for the war effort.
Lutes kept the coin until his passing in 2018, after which it was consigned to Heritage Auctions. In January, it sold for $204,000 after drawing nearly 30 bids. The money went to the Berkshire Athenaeum in Pittsfield, Massachusetts, Lutes’ hometown library.
Why the 1943 Bronze Penny Is So Rare
During WWII, copper was needed for military use, so pennies were made from steel. But a few bronze blanks remained in the minting machines and accidentally got used.
Stone from Heritage Auctions explained that 15 to 20 of these bronze pennies are known today, and there may be a few more still unaccounted for. Because of their rarity, these coins are highly sought after. One 1943 Bronze Lincoln cent even sold privately for $1.7 million in 2010.
To test your 1943 penny, use a magnet. If it sticks, it’s steel. If not, you might have struck gold—or at least six figures’ worth of copper.
Other Valuable Pennies
The 1943 bronze isn’t the only penny worth serious money. Here are a few more worth watching for:
1969-S Doubled Die Obverse
This rare error coin features clear doubling in “LIBERTY” and “IN GOD WE TRUST.” With fewer than 1,000 believed to exist, one of these could be worth around $75,000 in good condition. In 2023, one sold for $35,000.
1992 Close AM Reverse
In this version, the letters “A” and “M” in “AMERICA” are unusually close. It happened due to a minting mix-up when a proof die was used by accident. A clean one might sell for $20,000, while worn versions still fetch $2,000–$3,000.
1972 Doubled Die Obverse
Similar to the 1969 error, this one also shows doubling in the text. At least 250,000 were released, so it’s easier to find. A circulated one is worth around $100; a clean version can reach $500.
Here’s a quick summary:
| Penny Type | Estimated Value | Key Detail |
|---|---|---|
| 1943 Bronze Lincoln | $150,000–$1.7 million | Made with leftover bronze blanks |
| 1969-S Doubled Die Obverse | $35,000–$75,000 | Doubling on “LIBERTY,” “IN GOD…” |
| 1992 Close AM Reverse | $2,000–$20,000 | A and M in “AMERICA” touch |
| 1972 Doubled Die Obverse | $100–$500 | Common doubled text error |
Final Tip
Most of these coins are rare, but not impossible to find. Always check the dates and designs closely on your pennies. Use a magnet to spot bronze vs. steel. If something looks unusual, have it evaluated by a coin expert.
Your next handful of change could include a tiny treasure worth thousands—or even millions.
FAQs
Why is the 1943 penny valuable?
Because it’s a rare error coin made from bronze instead of steel.
How can I test if I have one?
Use a magnet—steel sticks, bronze doesn’t.
What is a doubled die penny?
A minting error causing text to appear doubled.
Are valuable pennies still in circulation?
Yes, some rare coins might still be out there.
How do I get a penny appraised?
Visit a certified coin dealer or grading service.
