Red pennies are often only found in extremely high grades because they show shallow levels of wear and circulation. The highest values are found on red pennies. MS-64 red-brown samples are worth $3.00, MS-65 instances are worth $5.00, and MS-66 examples are worth $20.00. Red-brown pennies are valued about the same in the lower grades, although they sell for more at MS-60. The value of the brown 1964 penny in grades up to MS-60 is $0.05. Therefore, we’ll look at it in terms of these three hues. This coloration may significantly increase the value of a 1964 cent. The least attractive color is brown, whereas the most desirable color is red. 1964 pennies, like other coins containing a considerable amount of copper, are graded according to hue and can be classified as Brown, Red-Brown, or Red. Mint production capacity to focus on higher-denomination coins that have a higher margin,” the report states.Ĭountries like Australia, Brazil, Canada and New Zealand have all stopped producing pennies.However, collectors looking to complete a Lincoln Memorial cent set may still find this coin valuable. “Proponents of the penny’s elimination cite the potential to save money, to free up U.S. Several legislative proposals have also been put forward in recent years to have penny production temporarily suspended or have the penny removed from circulation entirely, according to the report. Pennies have been a topic of hot debate over the last decade.Ī report from the Congressional Research Service states that the cost to produce a penny in 2021 was 2.1 cents, marking the 16th consecutive year where it costs more to produce pennies than they are actually worth. Other pennies with high dollar values include the 1943 Bronze Lincoln, the 1969-S Doubled Die Obverse, the 1992 Close AM Reverse and more, according to CNBC.ĭavid Stone, a coin cataloger for Heritage, told CNBC Make It that only a handful of the bronze pennies have been discovered and one of them sold for $1.7 million in 2010. Only 10 of the “Birch Cent” coins, named after their engraver Robert Birch, are believed to exist. ![]() Blay’s painstakingly-assembled collection sold for record six-figure prices, ranging from $120,937 for a 1911 cent to $601,875 for one of the approximately 50 known doubled die cents made in 1969 at the San Francisco Mint,” said Ian Russell, president of GreatCollections of Irvine, California.ĭoubled die coins occur when the metal die used to make coins is incorrectly struck twice, resulting in all coins minted with that die appearing double-struck.Ī report from Reuters notes that a rare 1792 American penny sold at auction for $2.6 million in 2015. “In addition to setting an auction record for the first million-dollar Lincoln cent, 13 other superb-condition pennies in Mr. The winning bid for the 1958 penny came from an advanced collector who needed this coin to complete his collection, the press release states. In January, a 1958-dated Lincoln cent mistakenly made with doubling in some letters of the design sold for a record $1,136,250.Īccording to a press release, a collector who passed away last November had a collection of 276 mint-condition Lincoln cents dating back to 1909 with a combined face value of only $2.76 - but the collection sold for $7,731,811 in a series of six auctions. ![]() The vast majority of pennies are worth one cent but there are special rare pennies that go for hundreds, thousands and even millions of dollars. Have you ever heard of a million-dollar penny? Turns out it’s a thing.
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