Introduction
Everyone has come across a penny at some point in their lives, but have you ever stopped to wonder how much it is worth? While most pennies only hold their face value of one cent, some years and specific pennies can hold a much higher value. In this article, we will explore the history of penny values and answer the question, what year pennies are worth money?
The History of Penny Values
The value of a penny has varied throughout history. In 1787, the first pennies were made of pure copper and had a value of one cent. Fast forward to 1856 when the first penny of the size and appearance we know today was minted. The metal composition of pennies has also changed over time. During World War II, pennies were made of zinc-coated steel instead of copper due to a copper shortage.
Inflation is one major factor that has influenced penny values throughout history. A penny in 1900 was worth more than a penny in 2021 due to simple economic inflation. Additionally, the metal content of pennies can affect their current worth – especially copper pennies from 1982 or earlier, which contain more copper than those made in the last few decades.
Rare Pennies of Yesteryear
Some pennies are so rare that they fetch a high price at auction. In 1909, the United States Mint produced only 484,000 Lincoln Cents with designer Victor David Brenner’s initials (VDB) on the reverse side. These coins are now worth upwards of $1,000. Similarly, the 1914-S penny is considered one of the rarest coins in existence. Only 316,000 were minted, and now the value of a 1914-S penny ranges from $100 to $1,500.
What Year Pennies Are Worth Saving?
For those interested in collecting pennies, it is important to know which years and varieties are worth saving. While a penny from the 1980s or 1990s might not seem rare, a copper penny from 1982 or earlier might be worth more than its face value. As mentioned earlier, these copper pennies contain more copper, making them more valuable. Additionally, pennies from 1959-1982 weigh 3.11 grams, while those from 1983- present weigh 2.5 grams.
The 1943 Copper Penny
The 1943 copper penny is another rare penny that can fetch a high price. During World War II, copper was needed for the war effort, so pennies were made with zinc-coated steel instead. But a small number of copper pennies were minted that year, making them incredibly valuable today. In 2010, one sold for nearly $2 million at auction, making it one of the most valuable coins ever.
Searching for Treasure
One way to discover valuable pennies is to search through your loose change. It is not uncommon to find older coins in circulation, and some of them could be worth more than their face value. Other places to search include flea markets, antique stores, and online auctions. Always be sure to do your research before purchasing a coin, as some coins may be counterfeit or altered in some way.
The 1955 Doubled Die Penny
The 1955 doubled die penny is one of the most famous mint errors in penny history. When the pennies were minted that year, a mistake occurred in which the die was not properly aligned. This caused the lettering and the numbers to appear doubled. Today, an uncirculated 1955 doubled die penny can fetch upwards of $15,000, and even those in circulated condition can be worth a few hundred dollars.
Future Penny Values
While it is impossible to predict the future value of pennies, some factors could influence a change in worth. One major factor is inflation. Similar to how a penny from 1900 is worth much more than one from 2021, future inflation could affect penny values. Additionally, collector demand could increase or decrease the value of certain coins.
Conclusion
In conclusion, the value of pennies has varied throughout history and continues to do so. Rare pennies like the 1909-S VDB and the 1943 copper penny can fetch high prices, while copper pennies from 1982 or earlier can also be valuable. It is important to do your research before collecting or selling valuable coins.
