When most people think about coins, the penny is usually the first thing that comes to mind. After all, it’s the smallest denomination of the U.S. Mint’s currency and at face value, it’s worth less than a quarter. However, certain pennies can be quite valuable, with some rare specimens being worth hundreds or even thousands of dollars. Collecting coins has been a popular hobby for generations, and if you know what to look for, it can also be a lucrative venture. In this blog post, we’ll talk about how to identify and find the top 100 most valuable pennies out there and the best ways to make money with your newfound collection.
What is a Valuable Penny?
The term “valuable penny” can mean different things to different people. To some, any penny dated before 1959—when the U.S. Mint switched from a pure copper-based penny to a zinc-plated penny—is worth more than face value. To others, valuable pennies are those that have errors, are in mint condition, or are associated with historical events. The most valuable pennies are those that are both rare and in mint condition, as these are the ones that fetch the highest prices.
Where to Look for Valuable Pennies
If you’re on the hunt for valuable pennies, there are plenty of places to look. Obviously, the best place to start is by searching through your own loose change. It’s not uncommon to find pennies from the 1950s and earlier in your pocket change, and these coins are worth more than their face value. You can also check out antique stores, flea markets, and collectible stores, as these locations will often have a selection of rare coins, including some valuable pennies.
The Top 100 Most Valuable Pennies
If you’re looking to get serious about collecting valuable pennies, you’ll want to know what the top 100 most valuable pennies are. This list, compiled by CoinTrackers, ranks the top 100 most valuable pennies by their value. Here are the top 10:
1. 1943 Copper Penny: $85,782
2. 1944 Steel Penny: $19,575
3. 1936 Dot Penny: $14,100
4. 1909-S V.D.B. Lincoln Penny: $11,500
5. 1914-D Lincoln Penny: $6,000
6. 1922 No D Lincoln Penny: $5,500
7. 1909-S Indian Head Penny: $5,000
8. 1917-D Lincoln Penny: $4,750
9. 1877 Indian Head Penny: $4,500
10. 1872 Indian Head Penny: $3,500
How to Authenticate a Valuable Penny
If you come across a penny that you think might be valuable, the first step is to authenticate it. You’ll want to make sure that the coin is genuine and not a replica or altered in any way. The best way to do this is to compare the coin to a known genuine coin of the same type. If you don’t have a known genuine coin to compare it to, you can take your coin to a professional coin grader. They’ll be able to confirm whether or not the coin is genuine and assign it a grade, which is important for determining its value.
How to Grade a Valuable Penny
Once you’ve authenticated your penny, you’ll need to assign it a grade. Professional coin grading is a complicated process and requires a lot of experience and knowledge. Many ex-coin collectors and coin experts will offer professional coin grading services. You can also take your coin to a local coin shop or coin show and have it professionally graded.
Coin grades range from 1 to 70, with 70 being the highest grade. Most valuable pennies have a grade of 60 or higher. Anything lower than that will likely not fetch as high of a price, although even a grade of 40 can still be worth a decent amount of money.
How to Store and Protect Valuable Pennies
Once you start collecting valuable pennies, you’ll want to make sure to properly store and protect them. The best way to do this is by using a protective storage system, such as a protective coin holder. This will help to keep your coins safe from damage and ensure that they retain their value. You’ll also want to make sure to store your coins in a dry, climate-controlled environment to protect them from moisture and extreme temperatures. Finally, make sure to properly label each coin so you can easily identify it in the future.
How to Sell Valuable Pennies
Once you’ve identified, graded, and stored your valuable pennies, you’ll need to decide how you want to sell them. The best way to do this is to find a reputable online auction site. You’ll be able to list your coins and set a starting bid, allowing potential buyers to bid on the coins. This is a great way to make sure you get the most money for your coins. You can also try selling your coins on classifieds websites, such as Craigslist or eBay, or by posting them on forums or coin collecting websites.
How to Make Money With Valuable Pennies
If you’re looking to make money with valuable pennies, there are a few different strategies you can use. One of the best ways to make money is to buy and sell rare coins. You’ll need to do your research to find out which coins are the most valuable and in the highest demand. You should also keep an eye out for coins that are undervalued or in mint condition. Another strategy is to build a portfolio of valuable pennies in different grades. This will allow you to diversify your collection and increase the potential value of your coins. Finally, you can look into investing in rare coins. This involves buying coins with the expectation that their value will increase over time.
Final Thoughts
Collecting valuable pennies can be a fun and rewarding experience. With a little bit of research and some luck, you may even be able to make some money. With the right knowledge and careful collection and storage, you could have a valuable penny collection that will last a lifetime. So, why not give it a try and start looking for some valuable pennies today?
I’m Kieran Walker, and I’m a Celebrity and Financial Expert. I live in Monaco, and I love helping people make the most of their money. Whether it’s through investments, or just making sure they’re getting the best deals on everything they buy, I want to help as many people as possible grow their wealth.
I’ve worked with some of the biggest names in the world when it comes to finance, and I’m always looking for new ways to help people save money. If there’s one thing I know, it’s that money can be a powerful tool – but only if you use it correctly.