Did it ever cross your mind that that coin you kept years ago in a jar could fetch you thousands of dollars? Believe it or not, this is very likely. There are a lot of very valuable and unknown specimens that collectors could pay as much as $265,000 for. Today, we will make a list of the most sought-after rare coins at auctions and explain to you the reason why their value is exorbitant.
One of the most recognized national numismatic treasures are the Lincoln wheat pennies. These are very rare coins, considered classic pieces, that were minted between 1090 and 1958. They are specimens designed to honor the bicentennial of Abraham Lincoln’s birth. As such, their obverse features the portrait of this historical figure, while the reverse contains two stalks of wheat, as shown by Heritage Auctions on its website.
While most Lincoln wheat cents are only worth their face value, there are several that are incredibly rare. This is due to unique errors, low production quantities or special characteristics. Such factors make them highly sought after by collectors.
Why are some Lincoln wheat cents so valuable?
It is worth noting that not all pennies are the same and many of them stand out for their rarity and historical significance. Here are some characteristics that make these coins worth collecting:
- Minting errors: contains errors during the initial process, such as duplicate images, missing mintmarks or the use of incorrect materials. All of these create unique coins, which collectors love.
- Limited production: coins produced in much smaller quantities are rarer and therefore more valuable.
- Special features: unique details, such as designer’s initials or unusual mint locations, can add significant value.
- Condition: coins in mint condition or with minimal wear command the highest prices.
The most valuable pennies
Many of the Lincoln wheat cents have achieved legendary status in the numismatic world. As we said, this is due to their rarity and high auction prices. Below, we will tell you which ones are the most valuable:
- Copper cent (1943): minted by mistake, with a price of up to $265,000.
- VDB Lincoln wheat penny coin (1909-S): contains initials of designer VDB and is priced up to $3,000.
- Steel penny (1944): mistakenly minted in steel, with a market price of up to $100,000.
- Folded one cent coin (1955): visible double impression, with a market price of over $15,000.
- Rare mintmark cent (1914): limited production, priced up to $20,000.
- Mint-marked cent number D (1922): missing the Denver mintmark, priced up to $12,000.
The $265 Lincoln wheat penny: a very valuable historical accident.
The 1943 copper penny is one of the most valuable coins in U.S. history. This is due to its historical significance. During World War II, copper was in great demand for military supplies, so the U.S. Mint decided to manufacture steel pennies, clad in zinc. However, a small number of pennies were mistakenly minted on copper planchets left over from 1942.
In addition, it should be noted that the rarity of this Lincoln wheat penny is due to its unintended composition. While most of the 1943 coins were made of steel, so copper versions are extremely rare and only a few are known to exist.
