Rare Coin - USA News

10 Rare Pennies Worth Millions—Have One?

Have you ever tossed a penny into a jar without a second thought? What if that penny was worth millions? In the world of numismatics, certain pennies are treasures due to minting errors, low production, or historical significance. This 1500-word article explores 10 rare pennies that could turn your spare change into a fortune. Grab a magnifying glass, check your pockets, and let’s dive into these coveted coins, their stories, and how to spot them.

1. 1943-D Lincoln Bronze Wheat Penny

Estimated Value: Up to $2.3 million
Why It’s Rare: During World War II, the U.S. Mint switched to zinc-coated steel pennies to conserve copper for war efforts. However, a single bronze planchet was mistakenly struck at the Denver Mint in 1943, creating the only known 1943-D bronze penny. Certified in 1979, it sold for $1.7 million in 2010 and is now valued at up to $2.3 million in mint condition. How to Identify: Look for a copper-colored penny with a “D” mint mark under the date. Weigh it—bronze pennies are 3.11 grams, unlike steel’s 2.7 grams. Check authenticity, as fakes are common.
Tip: Non-magnetic (steel pennies stick to magnets).

2. 1943-S Bronze Lincoln Wheat Penny

Estimated Value: $282,000–$1.1 million
Why It’s Rare: Like the 1943-D, a few bronze planchets were accidentally used at the San Francisco Mint in 1943. Only two copies are known, with one selling for $282,000 in 2016. Uncirculated examples could fetch over $1 million. How to Identify: Copper color with an “S” mint mark. Verify with a professional grader like PCGS or NGC due to counterfeits.
Story: These coins slipped into circulation unnoticed, making finds like Don Lutes Jr.’s 1947 discovery in his school cafeteria change legendary.

3. 1944-S Steel Wheat Penny

Estimated Value: $408,000–$1 million
Why It’s Rare: In 1944, pennies returned to copper, but a few steel planchets from 1943 were mistakenly struck at the San Francisco Mint. These are as rare as 1943 bronze pennies, with values up to $408,000 in average condition and $1 million uncirculated. How to Identify: Silver-colored with an “S” mint mark. Weighs 2.7 grams and is magnetic.
Tip: Check for a matte finish and consult a numismatist to avoid altered 1948 pennies.

4. 1955 Doubled Die Lincoln Penny

Estimated Value: $1,000–$124,000
Why It’s Rare: A minting error caused noticeable doubling on the date, “LIBERTY,” and “IN GOD WE TRUST.” Over 20,000 were released, but pristine examples are scarce. A high-grade coin sold for $124,000 in 2014. How to Identify: Clear doubling on the obverse text, visible without magnification. Lincoln’s portrait remains sharp. Weighs 3.11 grams.
Fun Fact: These errors are prized for their bold visual appeal, making them collector favorites.

5. 1969-S Doubled Die Lincoln Penny

Estimated Value: $35,000–$126,500
Why It’s Rare: This San Francisco-minted penny features strong doubling on the date, “LIBERTY,” and “IN GOD WE TRUST.” Fewer than 100 are known, with a top-grade example selling for $126,500 in 2008. Initially mistaken for counterfeits, they were confiscated by the government. How to Identify: Doubling on the obverse with an “S” mint mark. Check with a loupe for clarity.
Caution: Many fakes exist; professional grading is essential.

6. 1793 Strawberry Leaf Cent

Estimated Value: $408,000–$862,500
Why It’s Rare: One of the first U.S. pennies, only four exist with a four-leaf strawberry plant on the reverse instead of the usual three-leaf trefoil. A VG-10 graded coin sold for $862,500 in 2009. How to Identify: Look for the strawberry leaves above the date. Always circulated, but high-value even in worn condition.
History: Struck in the U.S. Mint’s inaugural year, it’s a numismatic “diva.”

7. 1914-D Lincoln Wheat Penny

Estimated Value: $159,000–$96 million (top estimates)
Why It’s Rare: With only 1.2 million minted, this Denver penny is scarce, especially in mint condition. A red, uncirculated example sold for $159,000 in 2018, though some sources estimate top specimens at $96 million, likely inflated. How to Identify: “D” mint mark under the date. Look for a red hue indicating no circulation.
Tip: Even circulated examples fetch hundreds.

8. 1922 No D Lincoln Wheat Penny

Estimated Value: $700–$500,000
Why It’s Rare: Denver was the only mint producing pennies in 1922, but some lack the “D” mint mark due to a worn die. Rare varieties sold for $57,500, with top estimates at $500,000. How to Identify: No mint mark under the date. Check for weak or missing “D” using a magnifying glass.
Pro Tip: Compare with a coin guide for die characteristics.

9. 1909-S VDB Lincoln Wheat Penny

Estimated Value: $1,000–$258,500
Why It’s Rare: The first Lincoln penny, designed by Victor D. Brenner, had his “VDB” initials on the reverse. Only 484,000 were minted in San Francisco before the initials were removed, making it a key date. A matte-finish example sold for $258,500 in 2014. How to Identify: “S” mint mark and “VDB” on the reverse bottom.
Story: Public outcry over the prominent initials led to their quick removal.

10. 1992 Close AM Lincoln Penny

Estimated Value: $5,000–$25,850
Why It’s Rare: In 1992, the Mint transitioned to a “Close AM” design (A and M in “AMERICA” touching). Some 1992 pennies were struck with this 1993 die, creating a rare transitional error. A MS67 Red example sold for $25,850 in 2017. How to Identify: A and M in “AMERICA” touch on the reverse. Look for sharp edges under magnification.
Tip: Only three certified examples are known, making it a modern rarity.

Why Are These Pennies So Valuable?

These pennies command high prices due to:

Minting Errors: Mistakes like wrong planchets (1943 bronze, 1944 steel) or doubled dies (1955, 1969-S) create unique coins.
Low Mintage: Coins like the 1914-D and 1909-S VDB had limited production, increasing scarcity.
Condition: Uncirculated or “red” pennies (retaining original copper hue) are exponentially more valuable.
Historical Context: Coins from wartime (1943) or early U.S. history (1793) carry numismatic lore.
Demand: High collector interest drives prices, especially for “Holy Grail” errors.

How to Spot a Valuable Penny

Check the Date and Mint Mark: Look for key dates (e.g., 1943, 1914-D) and mint marks (“D” for Denver, “S” for San Francisco) under the date.
Examine for Errors: Use a magnifying glass or phone zoom to spot doubling, missing mint marks, or unusual metal (copper vs. steel).
Assess Condition: Crisp edges and red color indicate mint state. Never clean coins—it reduces value.
Weigh the Coin: A 1943 bronze penny is 3.11 grams; 1944 steel is 2.7 grams.
Use Tools: Apps like CoinSnap or Coinoscope can help, but they’re not foolproof.

Where to Find These Pennies

Pocket Change: Rare, but possible. Check old jars or inherited coins.
Bank Rolls: Request pre-1982 rolls, as older pennies (95% copper) may hide rarities.
Estate Sales: Collections from older relatives may yield gems.
Coin Shops: Buy rolls to search for errors or key dates.

How to Sell a Rare Penny

Authenticate: Send to PCGS or NGC for grading. This ensures authenticity and maximizes value.
Choose a Platform:
- Auctions: Heritage Auctions or Stack’s Bowers for high-value coins.
- Dealers: Reputable numismatists offer fair prices.
- Online: eBay, but beware of fees and fakes.
Protect the Coin: Store in a protective holder to prevent wear.
Research Market Trends: Prices fluctuate; check recent sales on PCGS or NGC sites.

Beware of Fakes and Hype

Counterfeits: 1943 copper pennies are often faked by plating steel coins. Always verify with a grader.
Exaggerated Claims: Headlines like “$96 million pennies” are often clickbait. No penny has sold for that much; top sales are around $2.3 million.
Coin Shops: Some overvalue common coins or sell fakes. Stick to trusted sources.

Real-Life Finds

1943 Bronze: Don Lutes Jr. found one in 1947 school change, later sold for $204,000 in 2018.
California Hoard: In 2023, a family found over a million pennies in a basement, sparking a hunt for rarities.
Numismatist Tip: “Use a bright light and loupe. Check pre-1982 pennies for copper content,” says Neal Paul.

Is It Worth the Hunt?

While finding a $2.3 million penny is like winning the lottery, the thrill of discovery makes checking change fun. Even common wheat pennies (1909–1958) can fetch a few dollars, and pre-1982 copper pennies have melt value around 2 cents. The hobby is accessible—everyone has pennies—and could yield a big payday. As numismatist John Feigenbaum notes, “The likelihood is low, but anything’s possible.”

So, before you spend that penny, take a closer look. Your next coffee could cost a cent—or fund your retirement.

$2,831 Social Security at 62—What’s the Truth?

Could a 1975 Dime Really Be Worth $500K?

by Anjaneya

In the world of coin collecting, few stories capture the imagination like that of a seemingly ordinary dime fetching a staggering half-million dollars. The 1975 No-S Proof Roosevelt Dime has become a legend among numismatists, with one such coin selling for $506,250 at auction in October 2024. But what makes this ten-cent piece so extraordinarily valuable? Is it possible that you might have one hiding in your collection? This article dives deep into the history, rarity, and allure of the 1975 No-S Proof Roosevelt Dime, exploring why it commands such an astronomical price and how you can identify one if you’re lucky enough to stumble across it.

The Roosevelt Dime: A Brief History

The Roosevelt Dime, first introduced in 1946, was designed by engraver John R. Sinnock to honor President Franklin Delano Roosevelt, who passed away in 1945. Featuring Roosevelt’s profile on the obverse and a torch flanked by olive and oak branches on the reverse, the coin was initially struck in silver. However, by 1965, due to rising silver prices and public hoarding, the U.S. Mint switched to a copper-nickel clad composition for circulating dimes, a standard that persists today (except for special collector editions).

The 1975 dime, like others of its era, is part of this clad series. Most 1975 dimes were minted in Philadelphia (585,673,900 coins, no mint mark) or Denver (313,705,300 coins, marked with a “D”). These circulating coins, even in pristine condition, are typically worth only a few dollars at most, with values ranging from $1 for an About Uncirculated (AU58) coin to $200 for a Mint State (MS67) Philadelphia dime with a full band designation.

However, a small subset of 1975 dimes—those struck in San Francisco as part of proof sets—has turned heads in the numismatic world due to a rare error that makes them worth far more than their face value.

The 1975 No-S Proof Dime: A Minting Mistake Worth Millions

In 1975, the San Francisco Mint produced 2.84 million proof sets, each containing six coins (a cent, nickel, dime, quarter, half dollar, and dollar) and sold to collectors for $7. Proof coins are specially struck with polished dies and planchets, resulting in a mirror-like finish and sharp details, making them highly prized by collectors. All coins in these sets were supposed to bear an “S” mint mark to indicate their San Francisco origin.

But something went awry during the production of a tiny number of these dimes. Two proof dimes from 1975 were discovered without the “S” mint mark, an error that has since made them among the rarest and most valuable modern U.S. coins. These “No-S” dimes are not to be confused with the millions of Philadelphia-minted 1975 dimes, which were intentionally struck without a mint mark for circulation. The key distinction lies in their proof status and the error that occurred at the San Francisco Mint.

The Discovery of the Error

The first 1975 No-S Proof Dime was discovered in 1977 by a California collector, Fred Vollmer, who had purchased five proof sets directly from the U.S. Mint. Upon inspecting his coins, Vollmer noticed that two dimes lacked the “S” mint mark. Recognizing the potential significance of this error, he submitted one set to the American Numismatic Association Certification Service (ANACS), which authenticated the coin as a genuine proof strike without the mint mark. The discovery was reported in Coin World, sparking a frenzy among collectors.

Vollmer sold both No-S dimes to Chicago dealer F.J. Vollmer (no relation), who in turn sold one to a collector known as Ruth E. in 1978 for $18,200—a significant sum at the time, equivalent to roughly $90,000 today. The second dime was sold to an Ohio family, who stored it in a bank vault for over 40 years.

Why So Rare?

The rarity of the 1975 No-S Proof Dime stems from the fact that only two examples are known to exist. While other “No-S” proof errors occurred in years like 1968, 1970, 1971, 1983, and 1990, the 1975 error is by far the scarcest, with no additional examples reported since 1979. The exact cause of the error remains unclear, but it’s believed that a die without the “S” mint mark was mistakenly used to strike a small number of proof dimes before the error was caught.

Unlike circulating coins, proof coins were carefully inspected, so it’s remarkable that these two dimes slipped through quality control. Most experts believe that Mint inspectors likely discovered the mistake early, preventing further No-S dimes from being released. This makes the two known examples exceptionally rare, with odds of finding another estimated at 1 in 1.4 million.

The $500,000 Price Tag: Auction Highlights

The value of the 1975 No-S Proof Dime has skyrocketed over the years, driven by its rarity and the growing demand for numismatic treasures. Here’s a look at the auction history of these coins:

1978: The first No-S dime was purchased by an Ohio family for $18,200.
2011: The second No-S dime, graded Proof 68 by the Professional Coin Grading Service (PCGS), sold at a Stack’s Bowers auction for $349,600.
2019: The same coin reappeared at a Heritage Auctions sale, fetching $456,000. Days later, it was sold privately for $516,000 to a collector specializing in Roosevelt dimes.
2024: The Ohio family’s dime, inherited by three sisters after their brother’s passing, was auctioned by GreatCollections on October 27, 2024, for $506,250. The coin, graded PR67 by PCGS, attracted over 200 bids and drew global interest.

These sales underscore the coin’s status as “the world’s most valuable modern coin,” as described by Ian Russell, president of GreatCollections. The combination of extreme rarity, pristine condition, and historical significance has fueled its meteoric rise in value.

How to Spot a 1975 No-S Proof Dime

If you’re wondering whether you might have a $500,000 dime in your collection, here’s what to look for:

Proof Characteristics: The 1975 No-S dime is a proof coin, not a circulating strike. Proof coins have a shiny, mirror-like finish, sharp details, and frosted devices (the raised elements, like Roosevelt’s portrait). Regular 1975 dimes from Philadelphia, which also lack a mint mark, are business strikes with a duller, satiny luster and are worth only face value unless in exceptional condition.
No “S” Mint Mark: Check the obverse (heads side) near Roosevelt’s neck, below the date. A genuine 1975 No-S Proof Dime will have no mint mark, unlike San Francisco proof coins, which should have an “S.”
Proof Set Origin: These dimes were only found in 1975 proof sets, not in circulation. If you have a 1975 proof set, inspect the dime carefully. Proof sets were sold in protective plastic cases, so the coin should be in pristine condition.
Authentication: If you suspect you have a No-S dime, submit it to a reputable grading service like PCGS or NGC for authentication. Unauthenticated coins are often mistaken for common Philadelphia dimes, leading to disappointment.

Buyer Beware: Common Pitfalls

The hype surrounding the 1975 No-S Proof Dime has led to confusion and scams. Many novice collectors mistake regular 1975 Philadelphia dimes (no mint mark, business strike) for the rare No-S proof coin. Online listings often tout “1975 Roosevelt Dime No Mint Mark” as “rare,” with inflated prices, but these are typically common coins worth ten cents. Always verify the coin’s proof status and have it graded by a trusted service before purchasing or selling.

Could There Be More Out There?

While only two 1975 No-S Proof Dimes are known, some experts speculate that a third could still be hiding in an unopened proof set. Since 2.84 million proof sets were sold in 1975, it’s possible that another error dime exists in a forgotten collection. Ian Russell of GreatCollections encourages collectors to check old proof sets, noting that “many exist in sealed shipping boxes.” However, the chances of finding one in circulation are virtually nil, as proof coins were not meant for everyday use.

Why Collectors Pay So Much

The allure of the 1975 No-S Proof Dime lies in its perfect storm of rarity, historical significance, and condition. For collectors, owning one of the rarest modern U.S. coins is akin to possessing a piece of numismatic history. The coin’s value is further boosted by:

Scarcity: With only two known examples, demand far outstrips supply.
Condition: Both known dimes are in high-grade proof condition, appealing to collectors who prize quality.
Market Trends: The coin market has been strong, with growing interest in tangible assets like rare coins.
Story: The tale of an Ohio family’s dime, hidden in a bank vault for decades, adds emotional and historical intrigue.

Tips for Aspiring Collectors

If you’re inspired to start hunting for rare coins, here are some tips:

Learn the Basics: Familiarize yourself with mint marks, proof vs. business strikes, and grading standards. Resources like the Red Book (A Guide Book of United States Coins) are excellent starting points.
Check Proof Sets: If you have access to 1975 proof sets, inspect them carefully. Focus on the dime and look for the absence of an “S” mint mark.
Work with Experts: Consult reputable dealers or grading services to authenticate finds. Avoid unverified online listings.
Join Communities: Forums like r/coins on Reddit or CoinTalk can connect you with experienced collectors who share knowledge and tips.

A Dime Worth Dreaming About

The 1975 No-S Proof Roosevelt Dime is a testament to the thrill of coin collecting—a tiny error that transformed a ten-cent coin into a half-million-dollar treasure. While the odds of finding one are slim, the possibility keeps collectors searching through proof sets and dreaming of a windfall. Whether you’re a seasoned numismatist or a curious beginner, the story of this rare dime is a reminder that hidden treasures might be closer than you think. So, dust off those old coin sets and take a closer look—you never know what you might find.