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You may recall that a penny isn't worth much, and then it's easy to overlook. The fact of the affair is that a penny is already worth more it'due south worth because it cost 1.82 cents to make a one-cent slice these days. You might even have a penny that's worth lots more than in that jar of change that you're stashing abroad to relieve for a rainy day. Several older, rare pennies have fetched large amounts at auctions, but you might fifty-fifty have a penny in your pocket that'due south worth enough to purchase a nice dinner.

What to Look for in a Valuable Penny

Information technology can exist piece of cake to look by a valuable penny, but if y'all know what to look for, you might spot something surprising. Older pennies, especially those minted during the World Wars, are hot items for collectors. Wait closely at any pennies that you have that are 20 years old or more and see if you detect errors in the engraving. Take hold of a magnifying glass and look for unusual spacing betwixt messages or words or letters that are too close together.

If y'all accept a penny that has a double-dice, you might accept something worth taking to a dealer. A double-die happens when the mint accidentally presses a 2nd epitome on to the coin, creating misalignment. On a double-die coin, words similar "Liberty" or "IN GOD WE TRUST" volition look similar there's an extra word printed on top of the first word. As with all rare coins, the better condition the penny is in, the more value information technology could potentially have.

Where Do You lot Go If You lot Think You Have Something Rare?

If yous think you have a valuable penny in your hands, you should take information technology to an auction firm for closer inspection. Many auction firms are willing to look at your coins for free, and they know what to look for. They can also help yous walk through the steps of getting your coin certified, and they tin can take you through the selling process.

Don't go into an auction company with dollar signs in your eyes. Even if you have a rare penny, it may not exist worth well-nigh as much as your hopes and dreams. Be realistic about fetching coin for an old penny, and don't set yourself up for disappointment by thinking you have a treasure on your hands when you may only receive a small amount of value.

The Most Valuable Pennies on the Market

Pennies that fetch high amounts at an auction are rare, but it's worth looking through your alter to see if you can detect something valuable. Many of the virtually valuable pennies in circulation appointment back to World War I and World War II, such as the 1944 steel wheat penny, which the U.s. Mint created when copper was needed for the war effort. This penny can fetch between $77,000 and $110,000, depending on condition. The 1943 copper wheat penny was one of the rare copper pennies from the state of war, and information technology can earn $60,000 to $85,000 at an sale.

Indian Caput pennies from the 1870s can be worth $1,000 or more, and pennies from 1909 issued in San Francisco can fetch around $2,000 if they're in the right condition. Equally always, the condition of the pennies volition play a large cistron in how much they're worth and how much you can go for them when you have them auctioned off.

Some of the Most Expensive Pennies of All Time

Two pennies at different auctions raked in astonishing amounts at auctions in recent years. When Don Lutes of Pittsfield, Massachusetts, was in loftier school in 1947, he received a 1943 bronze Lincoln penny ― a penny that the U.S. Mint released in error. It was unusual enough that he fix it bated and held onto it until his decease in 2018. Earlier he died, he arranged to sell information technology an auction to benefit a local historic landmark, and the rare penny sold for $204,000 in Jan 2019.

The American penny dates back to the 1790s, but it'due south rare that you'll find ane in your stash of coins. One of the first pennies ever minted in the U.S. was the 1792 Birch cent, named for its engraver, Robert Birch. Experts believe that there are simply ten of these still in beingness, and the one in the all-time condition sold for an most unbelievable $two,585,000 in 2015. But one 24-hour interval earlier, a 1793 chain penny sold for $2,350,000 – the tape until the Birch Cent auction.

Collecting Coins

Numismatics is the name for the hobby of collecting coins. Some collectors larn rare coins for their value, while others enjoy collecting unusual and fascinating coins that don't necessarily hold much value. Many numismatists get-go with collecting rare pennies merely for fun.

Coin collecting experts recommend starting with looking at the pennies y'all have in your pocket or modify jar for something rare, unusual, or quondam. Y'all can also buy sets of older coins if y'all want to continue them for your own collection. Collectors sometimes fifty-fifty build specific collections based on engagement, minting errors, or other categories.

Source: https://www.reference.com/world-view/old-pennies-worth-money-6d180b703b7a917a?utm_content=params%3Ao%3D740005%26ad%3DdirN%26qo%3DserpIndex

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