Pennies may be the smallest U.S. denomination, but some are among the most valuable coins ever discovered. While most one-cent coins are worth face value, a select group of extremely rare pennies have sold for prices approaching $989,000—and in some cases even higher.
This collector’s guide explains which pennies reach six-figure values, why they’re worth so much, and how to identify valuable examples hiding in collections today.
Why Certain Pennies Are Worth Nearly $1 Million
A penny can reach extraordinary value when it combines:
- Extreme rarity
- Minting errors or experimental strikes
- Historical importance
- Excellent condition and certification
- Strong auction provenance
Unlike bullion coins, these pennies are prized for scarcity and history, not metal content.
Pennies That Have Reached $989,000 (or More)
1943 Bronze Lincoln Wheat Penny
This is the penny most often associated with values near $989,000.
Why It’s Legendary
- Pennies in 1943 were supposed to be steel
- A few were accidentally struck on bronze planchets
- Fewer than 20 authentic examples exist
Verified Auction Results
- $250,000 – $1.7 million depending on condition
💡 High-grade specimens often anchor six-figure valuations near the $989,000 range.
Other Ultra-Valuable Pennies Collectors Want
1. 1909-S VDB Lincoln Penny
- First year of the Lincoln cent
- Low mintage with designer initials
Value:
👉 $900 – $6,000 (circulated)
👉 $50,000 – $100,000+ (mint state)
2. 1944 Steel Wheat Penny
- Opposite error of the 1943 bronze
- Only a few dozen known
Value:
👉 $75,000 – $500,000+
3. 1955 Doubled Die Lincoln Penny
- Dramatic doubling visible without magnification
Value:
👉 $1,500 – $125,000+
4. 1922 No-D Wheat Penny
- Missing mint mark error
- One of the most famous Lincoln varieties
Value:
👉 $700 – $50,000+
5. 1877 Indian Head Penny
- Key date of the Indian Head series
Value:
👉 $1,000 – $40,000+
Penny Value Chart (2026)
| Penny | Estimated Value Range |
|---|---|
| 1943 Bronze Wheat Penny | $250K – $1.7M |
| 1944 Steel Wheat Penny | $75K – $500K |
| 1909-S VDB | $900 – $100K+ |
| 1955 Doubled Die | $1.5K – $125K+ |
| 1922 No-D | $700 – $50K+ |
| 1877 Indian Head | $1K – $40K+ |
Are $989,000 Pennies Still Being Found?
Rare—but Not Impossible
History shows that valuable pennies have been discovered:
- In old collections
- Inside coin jars
- In inherited estates
- Occasionally misidentified for decades
However, all known six-figure pennies are closely tracked, and any new discovery would require professional authentication.
How to Identify a Valuable Penny
Collector Checklist
- Check the date (1909, 1922, 1943, 1944, 1955)
- Test magnetism
- 1943 bronze pennies are not magnetic
- Check mint marks
- Use magnification for doubling
- Inspect condition carefully
- Never clean the coin
What to Do If You Think You Found One
- Handle by the edges only
- Store in a non-PVC holder
- Photograph both sides
- Contact a professional numismatist
- Submit to PCGS or NGC for authentication
Certification is mandatory for six-figure valuations.
Frequently Asked Questions (FAQ)
Has a penny really sold for nearly $989,000?
Yes. Several 1943 bronze pennies have sold in that general range depending on condition.
Are all wheat pennies valuable?
No. Most are common and worth only a few cents.
Are valuable pennies still in circulation?
Extremely rarely—but discoveries still occur in old holdings.
Can cleaning increase value?
No. Cleaning can destroy up to 90% of a penny’s value.
Are online penny value claims reliable?
Only when supported by auction records and third-party certification.
Final Thoughts
The idea of a penny worth $989,000 may sound unbelievable—but it’s backed by real auction history and genuine rarity. While such coins are extraordinarily rare, they continue to fuel interest in penny collecting and remind us that small coins can carry massive value.