The $12 Million Penny That Still Haunts U.S. Coin History
Imagine reaching into an old coin jar and pulling out a penny worth millions of dollars.
It sounds unreal — but that’s exactly why the 1974 Aluminum Lincoln Cent has become one of the most hunted and mysterious coins in American numismatics. 
Only a tiny number survived destruction, and experts believe a few may still be hidden in private collections, drawers, and forgotten estates.
Let’s walk through everything you need to know — step by step, in plain English 
Why the 1974 Aluminum Penny Was Created
During the early 1970s, copper prices surged dramatically. To reduce costs, the U.S. Mint experimented with aluminum as a replacement metal for the Lincoln cent.
Here’s what happened in 1974:
About 1.5 million aluminum cents were struck for testing
Congress strongly objected (health and vending concerns)
The Mint ordered an immediate recall
Nearly all examples were melted down
However… not all were recovered.
A handful escaped destruction — and today, those survivors are among the most valuable experimental coins ever produced.
How to Identify a Real 1974 Aluminum Lincoln Cent
Before getting too excited, carefully follow this checklist. Authenticity matters everything at this level.
Step 1: Check the Metal (Most Critical Test)
A genuine 1974 aluminum cent is:
- Made of aluminum, not copper
- Extremely light — about 0.93 grams
- (Regular pennies weigh 3.11 grams)
- Instantly feels lighter in your hand
A simple digital scale can confirm this in seconds.
Step 2: Examine the Color
Authentic aluminum cents appear:
- Bright silver-white
- No red, brown, or copper tones
If it looks like a normal penny, it is not aluminum.
Step 3: Look for a Mint Mark
- Most known examples were struck in Philadelphia (no mint mark)
- Persistent rumors exist of a 1974-D Aluminum Cent
If a genuine Denver-mint example is ever confirmed, it could become a one-of-a-kind coin worth tens of millions.
Step 4: Perform the Magnet Test
- Real aluminum is non-magnetic
- If the coin sticks to a magnet ➜ fake
This is one of the fastest and most reliable checks.
How Much Is a 1974 Aluminum Penny Worth?
| Condition | Estimated Value |
|---|---|
| Extremely Fine (XF) | $250,000 – $500,000 |
| Uncirculated (MS-60+) | $1,000,000+ |
| Gem Uncirculated (MS-65) | Up to $12,000,000 |
These values apply only to authenticated examples.
Counterfeits are common — certification is mandatory.
Think You Found One? Do This Immediately
Mistakes can destroy millions of dollars in value. Follow this exactly:
Do NOT clean the coin
Handle only by the edges
Store in a soft flip or capsule
Take clear photos (front, back, weight, magnet test)
Then submit it only to:
PCGS- NGC
These are the only grading services trusted for seven-figure coins.
Best Way to Sell a Confirmed Aluminum Penny
If authentication is successful, sell only through elite auction houses:
Heritage Auctions
Stack’s Bowers
Legend Rare Coin Auctions
Platforms like eBay or small dealers are not appropriate for a coin of this magnitude.
Where These Legendary Pennies May Still Be Hiding
Documented discoveries have come from:
Inherited family collections- Estate and garage sales
Coin show “junk” bins- Old unopened bank rolls
- Boxes stored in attics for decades
Many aluminum cents were originally given to lawmakers and Mint employees, then forgotten over time.
One could still be waiting to be found.
Fake Warning: Common 1974 Aluminum Penny Scams
Be cautious of these fakes:
Steel pennies coated with aluminum
Silver-colored plated copper cents
Magnetic “aluminum” coins
Incorrect weight (near 3 grams)
Always verify weight + magnet test + certification
Why This Penny Still Captivates Collectors
The 1974 Aluminum Lincoln Cent represents:
- A canceled chapter of U.S. Mint history
- One of the most controversial experimental coins ever made
- A potential multi-million-dollar discovery
If you ever find one, you’re not just holding a coin —
you’re holding a life-changing piece of history 
