Affluent Savvy
Affluent Savvy
Photo: Ali Pli
1943 Bronze Lincoln Only a handful of these bronze pennies have been discovered, including the one found by Lutes. "The most valuable Lincoln cent sold privately in 2010 for $1.7 million," said Stone. In order to preserve copper for the war effort, the U.S.
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Learn More »Lutes owned the coin until his death in 2018 . In failing health, he consigned it to Heritage. Proceeds of the sale went to the Berkshire Athenaeum in his hometown of Pittsfield, Massachusetts, according to the Dallas-based auction house. "The then 16-year-old Lutes received the copper-colored penny in change at his high school cafeteria in 1947," David Stone, a coin cataloger for Heritage, told CNBC Make It . Earlier this year, an ordinary looking penny made headlines when it was found among the possessions of a man named Don Lutes. The 1943 bronze Lincoln cent attracted nearly 30 bids and sold for $204,000 in January, according to Heritage Auctions , the organization that conducted the sale. Most pennies are worth 1 cent, but to coin collectors, some are worth more than their weight in gold. "One-cent coins have been around since the beginning of the U.S. monetary system," Stone said. "Several prototypes for the cent were produced in 1792, including the large Birch cent." The finest known 1792 Birch cent sold at a Heritage auction in 2015 for nearly $2.6 million, making it the most ever paid for a one-cent piece at auction, he said. A penny's worth depends on its quality and rarity. While most pennies are only worth a few bucks, highly coveted ones might be sitting in your pocket or stuck somewhere in your couch cushions. The odds are long, but they're still well worth searching for. So before you say, "Keep the change," check to see if you have any of these valuable pennies:
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Learn More »Today, the 1943 bronze Lincoln cent is described as "the most famous error coin in American numismatics" — and the odds of finding one are astronomically against. Stone estimates that 15 to 20 are known to collectors today, although it's possible that there are a few that have not yet been accounted for. "A nice circulated example, like Lutes' coin, could sell for around $150,000 to $200,000. Heritage auctioned a similar one — in slightly lower grade — for $186,000 earlier this month," he said. Due to its value, some counterfeits were created with steel cores. If you think you've found a 1943 Bronze Lincoln, the Mint suggests testing it with a magnet first. If it sticks, it's not copper.
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Learn More »"On the reverse of the 1992 Close AM, the right foot of the 'A' and left foot of the 'M' in 'AMERICA' touch," said Stone. (Most pennies minted that year have very definite spaces between those letters.) This came about because in the 1990s and early 2000s, the Mint used different dies for producing coins for circulation and proof coins for collectors, explained Bucki. But due to a mix-up, a proof die was used for the reverse of the coin before it was supposed to be used starting in 1993. It's likely that an entire run of 250,000 pennies were printed this way, he said. That makes them much easier to find than the 1969 Doubled Die coins. Bucki estimates that a 1992 Close AM coin in fairly new condition could be worth about $20,000, while a used one could sell for around $2,000 to $3,000. One sold at a Heritage sale in 2012 for more than $20,000, according to Coin World.
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