CENTS that bear images of 16th President Abraham Lincoln could bring in serious value – as one has even sold for millions of dollars.
Up until 1909, the Indian head was the design of the penny, which was produced by the Mint in 1958.
For the Lincoln series, it all started with the wheat ears design on the reverse.
Other designs in the series include the Memorial cent, union shield, and the Bicentennial.
But regardless, your Lincoln penny, like other coins, could be quite valuable and you may not even know it.
This includes low mintage, errors, or key dates.
Also, grade and condition are something to keep in mind, as grading services that certify coins give it a score between one and 70, with the highest being flawless.
Grades 60 or above means it’s in Mint State (MS) or Proof (P), which are seen more as collectors’ items rather than general circulation.
Below, we list some of the most valuable Lincoln pennies that have sold in recent auctions.
This includes P, MS, and coins in circulation.
1. 1958 DOUBLE DIE LINCOLN PENNY – $1.1million
You might be familiar with a double die error, which is when specific numbers and letters are duplicated.
But what some may not have known is that this can make a particular penny worth more than $1million.
Well, this happened to be a coin from Stewart Blay’s collection, who consigned them to auction house Irvine, California-based GreatCollections.
Most of his coins were worth only just under $3 but he had a 1958 double die penny, which featured duplicates of “In God we trust” and the word “Liberty.”
In addition, it was certified in an “MS65RD” grade by Professional Coin Grading Service.
That coin, which sold for around $1.14million, set the auction record double die coins.
2. 1969 DOUBLE DIE PENNY – $553,000
You may want to look out for double die pennies because another one from 1969 sold for a total of $535,000 (before fees) through GreatCollections.
It also has an S mintmark, which stands for San Francisco.
This is important because the reported mintage is just 15, according to PCGS.
While the 1969-S piece will likely be valuable either way, how much it’s worth could depend on the grade.
For example, sold auctions revealed by PCGS show that the double die variety can sell for anywhere between $16,500 and $126,500.
But the one that sold in the GreatCollection auction was certified in a higher grade of MS 66.
It was also labeled as an RD piece, which means it still maintains at least 85 percent of its original red luster just like the 1958 double die penny explained above.
3. 1909 VDB PENNY – $366,600
The 1909 VDB penny has an interesting story behind it.
The initials stand for designer Victor David Brenner – but they did not make an appearance on a Lincoln penny after that year.
This is because they caused controversy over both the placement and size of the initials.
While circulated Lincoln VDB pennies could be valuable as it is, a particular example takes it to another level.
One that sold for $366,000 was certified in a P67+RD grade by PCGS.
Ian Russell, president of GreatCollections, called it the “king of Lincoln proof cents.”
4. 1922 LINCOLN PENNY – $1,900
And there’s a penny out there that’s a little more common for coin fans to find.
That’s the 1922 Lincoln penny without a mint mark, which could be valuable in even circulated grades.
This is because pennies that year were only struck at the Denver Mint.
And while there were more than 7.1million of those coins minted with a D mark, not all of them featured it due to a mistake made in the production process.
Of the no D mark coins, 25,000 are estimated to have been minted with “perhaps” 10,000 pieces surviving, according to collector’s guide Lincoln Cents.
That variety of the 1922 penny is worth $970 in average condition, according to USA Coin Book.
One example on eBay recently sold online for a total of $1,893 after 66 bids.
The seller labeled the coin grade as “AU++,” which stands for about uncirculated.
