5 Rare Pennies The copper penny jingled in my palm as I examined it under the harsh fluorescent lighting of my local coin shop. What appeared at first glance to be just another ordinary cent—the kind we toss into jars or leave forgotten in cup holders—revealed something extraordinary upon closer inspection. A doubling on the date and mint mark, visible through my loupe, transformed this seemingly worthless coin into a $200 find.
“Most people have no idea what’s potentially sitting in their spare change,” remarked Frank Miller, the shop owner who verified my discovery, a 1972 doubled die obverse. “Lincoln Memorial pennies might be the most overlooked treasures in American numismatics.”
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Current Value
As of 2025, the value of a 1943 Copper Wheat Penny can range from $100,000 to over $1,000,000, depending on its condition. In 2019, one such penny sold for an astounding $204,000 at auction
While the Lincoln Memorial cent series (1959-2008) lacks the romantic allure of Wheat pennies or the historical significance of Indian Head cents, these common copper coins can harbor remarkable value when you know what to look for. Having spent over fifteen years rummaging through penny rolls and attending coin shows across the country, I’ve learned that education is the key difference between overlooking a valuable error coin and making a discovery that pays for dinner—or sometimes much more.
In this guide, I’ll walk through the Lincoln Memorial pennies that serious collectors actively hunt for, explain why certain dates command premiums that would surprise most non-collectors, and provide the practical tips I wish someone had shared with me when I began searching for these copper treasures.
The Most Valuable Regular-Issue Lincoln Memorial Cents
While error coins often capture headlines with their dramatic premiums, even regular-issue Memorial cents can be worth far more than face value when found in the right condition. For most collectors, the following dates represent the “key” coins in the Memorial series—those with lower mintages or specific characteristics that make them particularly desirable.
The 1969-S Doubled Die Obverse: The Crown Jewel
Without question, the most valuable regular-issue Lincoln Memorial cent is the 1969-S Doubled Die Obverse (DDO). With only around 40-50 authentic examples known to exist, this remarkable error shows pronounced doubling on the date and inscriptions.
During a recent visit to the American Numismatic Association convention in Chicago, I had the opportunity to examine one under proper lighting. The doubling on “LIBERTY” and the date was unmistakable—not the slight machine doubling that often tricks novice collectors, but the genuine hub doubling that creates a distinct separation between the primary and secondary images.
“This is the one that keeps penny searchers going through rolls decade after decade,” explained veteran dealer Mike Shepherd, who had the coin on display for an asking price of $45,000. “Many collectors will never own one, but they’ll never stop looking either.”
What makes the 1969-S DDO so valuable isn’t just its rarity but its fascinating production story. During the hubbing process at the San Francisco Mint, a misalignment occurred between impressions, creating the dramatic doubling. Most were discovered before distribution, but dozens made it into circulation before the error was caught.
When examining potential 1969-S doubled dies, be extraordinarily cautious. The coin has been extensively counterfeited, with fake examples showing altered S mint marks or artificially created doubling. Authentication from a major grading service is essential before making any significant purchase.
The 1970-S Small Date: A Transitional Variety Worth Hunting
The 1970-S small date cent represents another valuable regular-issue coin from the series. The Philadelphia and Denver Mints used the large date variety, but the San Francisco Mint produced both large and small date versions, with the small date being significantly scarcer.
During a coin club meeting in Portland last summer, I met Betty Reynolds, a dedicated collector who found a 1970-S small date in Uncirculated condition while searching through a bank box of pennies in 1982. “I almost missed it,” she confessed. “The difference is subtle unless you have the large date version for direct comparison. I kept it because something looked ‘off’ about the date.”
Her instincts paid off. The coin, later graded MS-65 Red, sold at auction for over $700.
The easiest way to distinguish between the varieties is to look at the “7” in the date. On the small date variety, the top serif of the 7 is flat, while on the large date, it angles upward. Additionally, on the small date, the top of the 7 aligns with the top of the 1, while on the large date, it’s noticeably higher.
The 1992 Close AM: An Under-the-Radar Rarity
Among the more recent Lincoln Memorial rarities, the 1992 Close AM variety stands out for both its scarcity and its discovery story. Standard 1992 pennies feature a Wide AM design, where there’s a visible gap between the letters A and M in “AMERICA” on the reverse. The Close AM variety shows the letters nearly touching.
The variety exists because the reverse die intended for proof coins was mistakenly used to strike regular circulation issues. These transitional design varieties often fly under the radar of casual collectors.
“I found my first Close AM completely by accident,” recalled Dennis Thompson, a collector I met at a coin show in Sacramento. “I was actually looking for doubled dies when I noticed the AM spacing looked different on one coin compared to the others. I must have checked twenty thousand 1992 pennies before finding that one.”
In Mint State condition, these coins can bring $500-1,000 or more, making them one of the most valuable modern penny varieties that can still occasionally be found in circulation.
Remarkable Error Coins Worth Substantial Premiums
Beyond the regular issues, error coins in the Lincoln Memorial series can command astonishing premiums. These mistakes in the minting process create unique pieces that error collectors pursue with particular passion.
The 1972 Doubled Die Obverse: The Most Famous Memorial Cent Error
The 1972 doubled die obverse represents the most widely known and sought-after error in the Memorial cent series. Unlike the extremely rare 1969-S DDO, the 1972 doubled die is relatively obtainable, with an estimated 20,000 examples minted—though finding one in circulation today remains challenging.
My own discovery of this variety came after five years of dedicated searching. The doubling is most prominent on the date and the word “LIBERTY,” creating a dramatic floating effect that’s visible even without magnification.
During a penny searching session with my nephew last year, I explained how to spot the 1972 DDO. “Look for a date that appears to be wearing glasses,” I told him, using the description that had helped me identify my first example. The doubling creates the illusion that each digit in the date has a shadow or ghost image slightly offset from the primary digit.
In circulated condition, these coins consistently bring $150-300, while Mint State examples can exceed $500. What makes this error particularly appealing to collectors is that it’s substantial enough to be easily identifiable once you know what to look for, yet rare enough to make discovery a genuine thrill.
Off-Center Strikes: Dramatic Visual Errors
Among the most visually striking errors in any coin series are off-center strikes, where the planchet isn’t properly centered when struck by the dies. Lincoln Memorial cents with off-center strikes vary dramatically in value depending on the percentage off-center and whether the date and mint mark are fully visible.
During a coin show in Baltimore, I watched a young collector’s eyes widen as dealer Carol Richardson explained the production error behind the 40% off-center 1984 penny he’d brought for evaluation. “The blank wasn’t seated properly when the dies came together,” she explained, “so part of the design never made it onto the coin.”
The coin, which showed the full date and mint mark, was worth approximately $60—not bad for something discovered in pocket change. Off-center strikes missing the date or mint mark typically bring lower premiums, as collectors prefer to know precisely when and where the error occurred.
Wrong Planchet Errors: Pennies on Dime Blanks
Perhaps the most dramatic errors occur when a coin is struck on a planchet intended for a different denomination. Lincoln cents struck on dime planchets represent some of the most desirable wrong planchet errors, creating a physically smaller penny with a distinctive silver appearance.
“These are the errors that make even non-collectors take notice,” explained error specialist James Hartford during a seminar I attended in Denver. “There’s something immediately obvious about a silver-colored penny that captures people’s attention.”
Lincoln Memorial cents struck on dime planchets typically sell for $1,000-2,000 depending on condition and clarity of the strike. Despite their high value, they occasionally turn up in circulation, particularly in regions near the Mint facilities where they may have escaped detection.
How Condition Affects Value: The Red, Red-Brown, Brown Scale
While identifying rare dates and varieties is crucial, understanding how a coin’s condition impacts its value is equally important. Unlike most other U.S. coins, which are simply graded on a numerical scale, copper cents have the additional consideration of color, categorized as Red (RD), Red-Brown (RB), or Brown (BN).
“Nothing breaks a collector’s heart quite like watching a beautiful red cent turn brown,” remarked John Feigenbaum, a dealer I spoke with at a Philadelphia coin show. “The copper is slowly oxidizing before your eyes, and you’re witnessing value diminishing in real time.”
Fully red coins—those retaining at least 95% of their original copper color—command the highest premiums, often selling for three to five times more than their brown counterparts in the same numerical grade. Red-brown examples, displaying between 5% and 95% original red color, fall somewhere in between.
The preservation of original red color is particularly challenging with Lincoln Memorial cents from the 1960s and early 1970s, as the copper alloy used during this period seems especially susceptible to toning. Finding a fully red 1969-D cent, for example, is far more difficult than locating one from the 1980s or later.
Grading Considerations Unique to Copper Coins
When examining Lincoln Memorial cents for potential value, several factors beyond color affect grade and subsequent value. Carbon spots—small dark specks that develop on the surface—can significantly reduce a coin’s grade and appeal. Similarly, fingerprints left on uncirculated coins often create permanent discoloration that proves impossible to remove without damaging the coin’s surface.
During a grading seminar at my local coin club, professional grader Michael Torres demonstrated how to properly handle copper coins. “Never touch the surface with your bare fingers,” he warned, using plastic gloves and holding coins only by their edges. “The oils in your skin might not show damage immediately, but given time, they’ll leave permanent marks.”
This sensitivity to handling makes truly pristine Lincoln Memorial cents from the earlier years particularly valuable, as most examples show at least some evidence of improper storage or handling over the decades.
Tips for Searching: How I’ve Found Valuable Pennies
After years of searching through countless rolls, I’ve developed some strategies that have proven effective for finding valuable Lincoln Memorial cents. While there’s never a guarantee of success, these approaches have yielded results far better than random searching.
Older bank-wrapped rolls often prove more productive than newer machine-wrapped ones. Banks that serve areas with older populations frequently receive coins that have been in personal collections or storage for decades, increasing the odds of finding obsolete varieties.
During a particularly successful search last winter, I discovered three 1972 doubled dies in a single box of customer-wrapped rolls from a small-town bank in Michigan. The teller mentioned they came from an elderly customer who had been saving pennies since the 1970s.
“Customer-wrapped rolls are always worth checking,” advised Tom Summers, a fellow roll searcher I regularly compare notes with. “They haven’t been picked through by professional searchers yet, and you never know where those coins have been sitting for the past few decades.”
The Importance of Proper Lighting and Magnification
Proper tools make all the difference when searching for valuable varieties. I’ve found that a 5x or 7x loupe provides sufficient magnification for identifying most doubled dies and other varieties, while a good-quality directional light source helps reveal subtle details.
The angle of lighting proves particularly crucial when looking for doubled dies. Tilting the coin under direct light often reveals doubling that might be invisible when viewed straight on. This technique helped me identify a subtle 1983 doubled die reverse that I might otherwise have missed.
“Learning to manipulate lighting is as important as knowing what varieties to look for,” coin dealer Susan Winters once told me while demonstrating proper examination techniques. “The same coin can look completely different under various lighting conditions.”
The Hunt Continues
As the Lincoln Memorial cent series recedes further into history, having been replaced by the Shield reverse design in 2010, these once-common coins are gradually disappearing from circulation. Each passing year makes the discovery of valuable varieties increasingly unlikely—yet also potentially more rewarding.
What I find most compelling about collecting these cents isn’t just their potential monetary value but the connection they provide to American history and the art of minting. Each coin represents a small piece of craftsmanship, a moment in time when dies came together to create something that would pass through countless hands over decades.
For those willing to develop the knowledge and patience required, Lincoln Memorial cents continue to offer the thrill of the hunt and the possibility of discovery. Whether you’re searching through inherited collections, roll hunting, or carefully examining your pocket change, remember that extraordinary finds often appear ordinary at first glance.
The next time you receive change from a coffee shop or find a jar of pennies at a garage sale, take a moment to look more closely. You might just be holding a small copper treasure worth far more than you imagined.