While most people think of pennies as simply spare change, some of them are worth far more than their face value. In fact, there are certain pennies worth hundreds of thousands of dollars, if not more. The rarity of these coins often stems from unique minting errors, historical significance, or their exceptional condition. Whether you are an experienced coin collector or just someone looking through your loose change, here are ten underrated pennies worth over $500,000 that you could still find today.

1. 1943 Copper Penny

The 1943 copper penny is one of the most famous and valuable pennies ever minted. During World War II, the U.S. Mint switched to making pennies out of steel to conserve copper for the war effort. However, a few copper pennies were mistakenly struck, making them incredibly rare. Only a handful are known to exist today, and one of these pennies can fetch anywhere from $500,000 to over $1 million, depending on its condition.

Key Facts:

• Mint Error: Copper instead of steel.
• Estimated Value: $500,000 to $1 million.
• Condition: Minted in error, very few known to exist.

2. 1909-S VDB Lincoln Penny

The 1909-S VDB penny is another coveted coin among collectors. It was the first year that the Lincoln cent featured the initials of the designer, Victor David Brenner (VDB), on the reverse. Due to public backlash over the initials appearing on the coin, the Mint removed them, and only a small number of 1909-S VDB pennies were produced. These pennies are worth upwards of $500,000, especially if they are in uncirculated condition.

Key Facts:

• Mint Error: The VDB initials on the reverse.
• Estimated Value: $500,000 or more.
• Condition: The higher the grade, the higher the value.

3. 1955 Double Die Penny

The 1955 double die penny is one of the most famous minting errors in U.S. coin history. It features a noticeable double image of Lincoln’s portrait and the date, caused by the die being misaligned during the striking process. Only a few hundred of these pennies exist, and depending on the grade, they can be worth well over $500,000.

Key Facts:

• Mint Error: Double die on Lincoln’s portrait and date.
• Estimated Value: $500,000 to $1 million.
• Condition: Better grades fetch higher prices.

4. 1877 Indian Head Penny

The 1877 Indian Head penny is rare because the U.S. Mint produced fewer of these coins than usual in that year. The Indian Head design was phased out shortly after, making this penny a highly sought-after collector’s item. In mint condition, this penny can fetch $500,000 or more at auctions.

Key Facts:

• Mint Error: Limited mintage in 1877.
• Estimated Value: $500,000+.
• Condition: Condition plays a major role in its value.

5. 1914-D Lincoln Penny

The 1914-D Lincoln penny is one of the rarest pennies in circulation. Only about 1.2 million of these coins were produced, and most of them have been lost to wear and tear. In mint or near-mint condition, a 1914-D penny could be worth over $500,000.

Key Facts:

• Mint Error: Low mintage in 1914.
• Estimated Value: $500,000 to $700,000.
• Condition: Higher grade coins demand top prices.

6. 1922 Plain Lincoln Penny

The 1922 plain Lincoln penny is famous for its missing mintmark. The 1922 pennies were supposed to have the “D” mintmark for Denver, but due to a die error, some of them were struck without the mintmark. These rare pennies are highly valuable and can be worth upwards of $500,000, depending on their condition.

Key Facts:

• Mint Error: Missing mintmark.
• Estimated Value: $500,000+.
• Condition: Condition affects value greatly.

7. 1878 Indian Head Penny

Another rare and valuable penny is the 1878 Indian Head penny. In the late 1800s, the U.S. Mint faced a shortage of copper and minting errors were common. The 1878 penny is one of those rare coins, with an estimated value over $500,000 for those in excellent condition.

Key Facts:

• Mint Error: Copper shortage and minting issues.
• Estimated Value: $500,000+.
• Condition: Coins in pristine condition are the most valuable.

8. 1911-S Indian Head Penny

The 1911-S Indian Head penny is another sought-after coin, known for its low mintage and scarcity. The “S” mintmark refers to the San Francisco mint, and very few were made in 1911. These pennies can fetch well over $500,000 if they are in uncirculated or high-grade condition.

Key Facts:

• Mint Error: Low mintage from the San Francisco Mint.
• Estimated Value: $500,000+.
• Condition: The higher the grade, the higher the value.

9. 1921 Peace Dollar Penny

Although not typically categorized as a penny, the 1921 Peace Dollar is often mistaken for one due to its similar size and appearance. This coin, featuring a beautiful design of Lady Liberty, was minted in limited numbers and can be worth over $500,000 for a well-preserved example.

Key Facts:

• Mint Error: Limited mintage.
• Estimated Value: $500,000+.
• Condition: The coin’s grade directly impacts its value.

10. 1931-S Lincoln Penny

The 1931-S Lincoln penny is another penny that stands out due to its low mintage. Produced in San Francisco, fewer than 1 million of these pennies were made. Coins in excellent condition can fetch over $500,000 in the market.

Key Facts:

• Mint Error: Low mintage.
• Estimated Value: $500,000+.
• Condition: Better condition increases the value.

Penny	Year	Estimated Value	Key Fact
1943 Copper Penny	1943	$500,000 – $1 million	Minted in copper, few known to exist.
1909-S VDB Lincoln	1909	$500,000+	First year with designer’s initials.
1955 Double Die Penny	1955	$500,000 – $1 million	Double die error on Lincoln’s portrait.
1877 Indian Head	1877	$500,000+	Low mintage in 1877.
1914-D Lincoln Penny	1914	$500,000 – $700,000	Rare, low mintage.
1922 Plain Lincoln	1922	$500,000+	Missing mintmark.
1878 Indian Head	1878	$500,000+	Copper shortage caused minting errors.
1911-S Indian Head	1911	$500,000+	Low mintage from San Francisco Mint.
1921 Peace Dollar Penny	1921	$500,000+	Limited mintage, often mistaken for penny.
1931-S Lincoln Penny	1931	$500,000+	Low mintage from the San Francisco Mint.

Although most pennies are worth just a few cents, these rare coins are valuable treasures hidden in plain sight. If you happen to find one of these pennies in your collection or in your change, you might be holding a small fortune. Always ensure you examine any penny with suspicion for minting errors, historical significance, or unique features that may boost its value to over $500,000.

FAQs

What makes a penny worth over $500,000?

Pennies that have unique minting errors, low mintage, or historical significance can be worth hundreds of thousands of dollars.

How can I identify a rare penny?

Look for mint errors such as double dies, missing mintmarks, or unusual features that set the penny apart from regular coins.

Can I find these valuable pennies in my change?

While rare, it is possible to find these pennies in circulation, but it’s extremely unlikely. It’s important to thoroughly inspect any old pennies you find.

How do I sell a rare penny?

If you believe you have a valuable penny, you should consult with a professional coin dealer or auction house to determine its value and selling process.

What is the most valuable penny ever found?

The 1943 copper penny holds the record for being one of the most valuable pennies, with some fetching over $1 million in auctions.