.01 for your thoughts! Penny for your thoughts? Well how about $1000 for that penny that may be in your junk drawer at the office or home? You would take it right! Yep, no brainier. And the limit does not stop at $1000 for a penny, the worlds most valuable penny was sold for amazing $1.7 million!
Lets get right to the heart of the matter. One single penny can be worth over $1.7 million dollars, but NOT everyone can have or find a penny like that. But many of us have or can find pennies worth $1000 each IF you know where to look. Here is the scoop on the $1.7m penny.
The 1943 copper-alloy cent is one of the most enigmatic coins in American numismatics — and reportedly the most valuable Lincoln penny of all. Just 40 of the coins — probably created by accident, on copper-alloy one-cent blanks left in the presses in the wartime years when pennies were converted to steel — are known to exist. The first 1943 copper cent was sold in 1958 for more than $40,000. In 1996, another went for a whopping $82,500. But those sales pale in comparison with the latest: this week, a dealer in New Jersey sold his 1943 penny for a staggering $1.7 million. Their collection value makes 1943 copper pennies a prime target for counterfeiters: fakes are often made by coating steel cents with copper or altering the dates of 1945, 1948 and 1949 cents. How can you tell if your 1943 copper penny is real? Use a magnet. If the penny sticks, it’s not copper. Better luck next time.
Now where can you find those $1000 pennies?
Everybody has found an old coin in their change or inherited something they just do not know about. From wheat pennies right on up to $20 gold pieces, old coins are worth money. Sometimes they can be worth a fortune.
The Wheat cent is one of the most famous coins to ever be made in the United States. The coin was designed by Victor David Brenner in honor of Lincoln’s 100th birthday in 1909. The coin had a long run from 1909 through 1958. The obverse or front of the coin has remained relatively the same since its inception, and the designs on the reverse or back of the coin have changed only seven times in the last 104 years. Five of those eight changes happened during the last four years, but more on that later. The Wheat cent is the longest running coin in American history to have the same Presidential figure on the obverse.
What are those Wheat cents worth? Almost everybody has found one in their change and thrown it to the side. Some people have only one or two, but I have a client mine who is trying to amass 1,000,000 coins! The Wheat cent has a number of rare “key” dates and varieties that can be worth anywhere from $50 to over $1,000!
BY THE WAY – THE IMAGE TO MY LEFT IS A LINK TO OVER 1400 PLACES THESE VALUABLE PENNIES CAN BE FOUND!
In the year 1909, there were 4 different varieties of the Wheat cent made. The coin was minted in Philadelphia and San Francisco. The coins were made both with and without the initials of the designer, Victor Brenner, on the reverse of the coin near the bottom. The initials V.D.B. stood out on the bottom, and they were quickly removed from the design after only a short time because the designers of U.S. coins did not generally make their initials stand out like that. Philadelphia and San Francisco both struck coins with the initials and without the initials. The way to tell the difference between a V.D.B. and a non-V.D.B. is to simply look at the reverse for the initials. The way to tell where the coin was made is to look under the date and see if there is a letter. If it was from Philadelphia, there will be no letter, however, if it is from San Francisco, it will have the letter “S” under the date.