PENNIES with certain elements could be worth a lot of money, including one that sold for a whopping $5,000.
In 1787, Congress authorized the manufacture of the penny.
While the denomination of one cent isn’t worth much today, there are several denominations that are prized by coin collectors.
The older the date, the more valuable a piece is in many cases.
However, remember that coins can become very valuable if they have a flaw, a unique element, or a low mintage.
We reveal what to look for to find the penny that sold for $5,000 and why it’s so valuable.
Why it is so valuable and what to look out for
The design features an image of a Native American Indian holding a bow and arrow on the front.
Surrounding the image is the text “Common” and “Wealth” on opposite sides.
Also, the date is 1788, which can be seen bottom center on the reverse.
This piece is known as the 1788 Massachusetts cent.
Although the exact minting is not clear, these are very valuable as the coin was made more than two centuries ago.
In fact, the lowest value a circulating 1788 Massachusetts cent sold for, according to the Professional Coin Grading Service price list, was $80.
And one in “MS66BN,” a non-circulating variety, was sold at auction in January 2015 for a total of $37,600.
Meanwhile, the 1788 penny, which sold for $5,000 after 22 bids on eBay’s most recent listing, has been certified by PCGS at a VF level of detail.
The degrees of VF, which stands for very fine, range from 20 to 35 according to PCGS.
Other valuable pennies
If you don’t have a penny that was minted more than 200 years ago, chances are your Lincoln pennies are worth some money.
One contains the unminted 1944 steel cent, which has a reported mintage of only 30.
It’s worth $28,210 in average condition.
A few other valuable coins in the Lincoln series are the VDB and 1955 double die pieces.
In average condition, the VDB-S (San Francisco) coin is worth $940 and up to $2,277 when in uncirculated quality.
The 1955 Double Die Penny is worth $1,318 Average and up to $17,057 if in an MS63 class.
To see if your spare change is worth something, you can search eBay for the full name, select the listing “sold” and then toggle the search to “highest value”.
This gives you an idea of how much the coin might be worth, as your quarters, dimes and nickels might also be valuable.
We also explained the 1969 Lincoln Penny.
https://www.the-sun.com/money/5971598/rare-penny-find-how-numbers/ Rare penny sells online for $5,000 – the exact picture and the numbers you need to look for to spot him