The combination of “copper” and “penny” might not seem like the best formula for valuable coins considering that you can find higher denominations in gold and silver. But finding the right copper coin could make you a millionaire.
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With few exceptions, copper coins in the U.S. mean one-cent pennies — usually those featuring Abraham Lincoln. The most valuable Lincoln penny is worth $2 million on the collectibles market, and many more are worth five or six figures.
The value of copper coins, as in all coins, is based on scarcity and condition. Rare coins with minting errors or other unique features tend to bring high prices, as do those in mint or near-mint condition.
As The Spruce Crafts noted, many collectors of U.S. coins began with the Lincoln penny and took most of them out of circulation. Because so many are out of circulation, you likely need to visit a dealer or auction to get examples of the highest quality and rarity. This scenario created high demand — and high prices.
Here’s a look at five copper coins worth a lot of money.
1943 Wheat Penny (Bronze Cent Strike)
The CoinValue website calls this the “rarest and most valuable wheat penny with an error.” It holds the record for the most expensive sale among wheat pennies at $1.7 million, though it is valued at $2.3 million in uncirculated mint condition. Most can be bought and sold for anywhere from $14,000 to $300,000.
1982-D Lincoln Penny (Copper Small Date)
This is a rare coin for a couple of reasons. First, it contains errors involving numbers. Second, it was not supposed to be minted with copper in 1982, but there were “leftover copper planchets” that the U.S. Mint struck with zinc to create the error, according to CoinValue. Prices range from $10,000 to $30,000 and more.
1909-S VDB Lincoln Penny
In 1909, the U.S. Mint replaced the Indian Head penny with the Lincoln cent, according to The Spruce Crafts. Slightly less than 500,000 of these pennies were minted before the Treasury Department “demanded that the initials be removed,” — the initials of designer Victor David Brenner (VDB) between the two wheat stalks — which created heavy demand among collectors. This penny is currently valued at more than $117,000 in top condition.
1872 Indian Head Penny
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Slightly more than 4 million were minted and most went into circulation. What makes certain coins of this date rare is their “exceptional condition,” according to The Spruce Crafts. Some of the more valuable examples are so well preserved you can still see the original bright red-copper color. These coins are valued at $126,500 and in particularly excellent condition (the price listed is for an MS-67, or high mint state, for example).
1969-S Lincoln Penny-Doubled Die Obverse
Here is another coin valued at $126,500 (at least, in MS-64 condition) — and most of that value is due to doubling on the date and lettering on the obverse. The errors were first discovered in 1970. The U.S. government at first believed these were counterfeit coins and began confiscating them, The Spruce Crafts noted. Five coins were confiscated and destroyed before they were acknowledged as genuine.
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