A breathtaking 1937 Lincoln Wheat Cent featuring a rare “Double Liberty” minting error has sold for $1.5 million, sparking a nationwide hunt among collectors and treasure seekers. If you’ve got old pennies lying around, here’s what you need to know to spot this once-in-a-lifetime find.
Why This Penny Is Worth Millions
- Extreme Rarity – Only 4–5 confirmed specimens exist worldwide.
- Major Minting Error – The word “LIBERTY” on the obverse is dramatically doubled, with clear separation visible to the naked eye.
- Top Condition – The record-breaker was graded MS-66 Red by PCGS.
- Historic Appeal – Struck during the Great Depression, adding historical and collector significance.
How to Identify a 1937 “Double Liberty” Penny
- Check the Date – Must read 1937 with no mintmark (Philadelphia Mint).
- Examine “LIBERTY” – Look for bold doubling where letters appear shadowed or overlapping.
- Assess Condition – Highest values go to coins with full red color, no fading, and zero wear on Lincoln’s cheek or jawline.
Value by Condition (PCGS/NGC Certified)
Grade | Value Range |
---|---|
MS-65+ RD | $1,000,000 – $1,500,000 |
MS-64 RD | $500,000 – $800,000 |
AU-58 | $100,000 – $250,000 |
VF-20 | $25,000 – $50,000 |
Where These Rare Pennies Are Found
- Old bank coin rolls from the 1930s
- Inherited coin collections
- Estate sales and antique shops in the Midwest & Northeast
- Dealer “junk bins” (yes, it happens!)
Selling for Maximum Profit
- Get It Certified – Only PCGS or NGC authentication ensures maximum value.
- Use Professional Photography – High-quality images help attract top bids.
- Sell Through Major Auction Houses – Heritage Auctions is a proven record-breaker for rare coins.
- Plan Ahead for Taxes – Rare coins are subject to a 28% collectibles tax rate in the U.S.