Most people think of pennies as pocket change—but one 1999 Lincoln Cent shocked the coin world when it sold for a record-breaking $9.8 million in 2024.
Even more surprising? This coin was initially dismissed by seven different dealers before being certified as one of the rarest modern pennies ever struck.
Here’s the story of this legendary penny—and how you can check if you might have one hiding in your collection.
The Record-Breaking Sale
In 2024, a 1999 Wide AM Lincoln Cent graded PCGS MS-70+RD sold for $9.8 million at private auction.
What made it so valuable?
- Perfect Condition → The only known MS-70+RD example.
- Historic Error → Struck with a proof die, creating the ultra-rare Wide AM variety.
- Provenance → Discovered in an original mint roll, rejected by dealers, later certified as unique.
Key Features of the $9.8M Penny
Perfect Condition
- Only example ever graded MS-70+RD.
- Full, original red mint luster with zero toning.
- No flaws visible even under 40x magnification.
Historic Error – The Wide AM Variety
- Look at the word “AMERICA.”
- On this rare error, the A and M are clearly separated (Wide AM).
- Normal 1999 business-strike pennies show a Close AM.
- Caused by a proof die accidentally used for circulation strikes.
Provenance
- Found in an original mint roll.
- Rejected by 7 dealers who didn’t recognize the error.
- Certified by PCGS as the only MS-70+ Wide AM.
How to Identify a Rare 1999 Wide AM Penny
Step 1: Check the Date & Mint Mark
Must be 1999 Philadelphia issue (no mint mark).
1999-D (Denver) does not qualify.
Step 2: Look at “AMERICA”
Wide AM: Gap between A and M → Rare & valuable.
Close AM: Letters touch → Common, face value only.
Step 3: Inspect Under Magnification
- Perfect centering, sharp strike.
- No bag marks, scratches, or color alteration.
- Full detail on Lincoln’s memorial.
Step 4: Weight & Measurements
- Correct weight: 2.5 grams (zinc with copper plating).
- Diameter: 19.05 mm.
- Even copper plating with no peeling.
Value by Grade
| Grade | Value Range |
|---|---|
| AU-58 | $1,000 – $2,500 |
| MS-65 | $5,000 – $15,000 |
| MS-70+ (Unique) | $9,800,000 |
Watch Out for Fakes
Because of its fame, this penny is widely counterfeited. Be cautious of:
- Altered 1998 or 2000 pennies with fake spacing.
- Counterfeit PCGS slabs (verify certification numbers).
- Artificially enhanced color.
What To Do If You Think You Found One
Handle only with cotton gloves.
Take high-resolution photos under LED lighting.
Submit to PCGS for grading (choose “Varieties & Errors”).
Contact top auction houses like Stack’s Bowers or Heritage Auctions for a potential sale.
