Imagine finding a simple penny and discovering it’s worth $264,000. Sounds unbelievable, right? But it really happened. One ordinary-looking penny sold for that jaw-dropping amount because of a tiny mistake made at the U.S. Mint over 80 years ago. These rare “error coins” are like winning lottery tickets hiding in your pocket change. Even better? You might have one without even knowing it.
In this article, we’ll explore the story behind the $264,000 penny, explain what makes it so special, and show you how to check if you’ve got a valuable error coin in your collection—or even in your junk draw
The Story Behind the $264,000 Penny
The penny that sold for $264,000 is a 1943 bronze Lincoln cent—a coin that was never meant to exist. During World War II, copper was needed for military supplies like bullets and wiring. To save copper for the war effort, the U.S. Mint switched to making pennies from zinc-coated steel in 1943.
However, a few bronze blanks (copper planchets) from 1942 accidentally stayed in the minting machines. These leftover bronze blanks were struck with the 1943 design, creating one of the rarest error coins in American history.
In 2021, one of these rare 1943 bronze cents sold at Heritage Auctions for $264,000—and similar ones have sold for even more in the past.
Why Is This Penny Worth So Much?
The $264,000 penny is valuable because of three key things:
- It’s a mistake: The coin was never supposed to be made in bronze that year.
- It’s extremely rare: Fewer than 20 genuine 1943 bronze cents are known to exist.
- It’s in demand: Collectors are willing to pay top dollar for rare and famous coins.
The rarity combined with a well-known story makes this penny a collector’s dream.
How to Identify the $264,000 Error Penny
Here’s how to check if you have one of these rare coins:
- Check the Date: It must say 1943.
- Check the Color: If it’s brown or reddish like a typical copper penny, keep going.
- Use a Magnet: Real 1943 steel cents will stick to a magnet. If your 1943 penny doesn’t, it may be copper.
- Weigh the Coin: A copper penny weighs about 3.11 grams. A steel penny weighs around 2.7 grams.
- Get It Authenticated: If it passes these tests, send it to a professional grading service like NGC or PCGS to verify it.
Important note: Some 1943 copper pennies are fakes—steel cents coated in copper. That’s why authentication is crucial.
Other Rare Penny Errors to Look For
The 1943 bronze cent isn’t the only valuable error out there. Here are some others to watch for:
Year | Coin Type | Error Detail | Value Range |
---|---|---|---|
1944 | Steel Penny | Wrong metal again—should’ve been copper | $75,000–$150,000 |
1955 | Double Die | Doubled letters on front | $1,000–$15,000 |
1969-S | Double Die | Doubling on “LIBERTY” and date | $10,000–$50,000 |
1982-D | Small Date Copper | Wrong metal for that mint/year | $10,000–$15,000 |
These coins also resulted from minting errors and are worth hundreds or thousands—even if they look totally normal to the untrained eye.
Why These Error Coins Still Exist
You might be wondering how these valuable coins are still out there. After all, shouldn’t they all be in collections or museums by now?
Here’s why they keep popping up:
- Mint workers didn’t catch them in time.
- People didn’t know what they had, so they spent them.
- Inheritors of old coin jars might unknowingly spend rare coins.
- Some stayed in bank rolls or coin jars for decades and are just now being rediscovered.
That’s why it’s still possible—though rare—to find one in everyday change.
What to Do If You Think You’ve Found One
If you find a 1943 copper-colored penny, don’t clean it or try to alter it. That could reduce or destroy its value. Here’s what to do:
- Test It with a Magnet – If it doesn’t stick, you may have something special.
- Weigh It – Use a jewelry scale. 3.11 grams means copper.
- Compare It Online – Look up pictures of real 1943 bronze cents from trusted sources.
- Get It Graded – Send it to PCGS or NGC for certification.
Even if it turns out not to be the $264K penny, you might still have a valuable error coin worth hundreds or thousands.
Conclusion
The next time you get a handful of coins, don’t just toss them in a jar. One of them could be a $264,000 treasure like the famous 1943 bronze penny. Mistakes from decades ago are still showing up in change today, and collectors are constantly on the hunt for these rare pieces.
If you pay attention and learn what to look for, you might stumble across a life-changing find. After all, history has shown that even a single cent can make a six-figure difference—all thanks to a simple error at the mint.
FAQ’s
Q1: How many 1943 bronze pennies are known to exist?
Fewer than 20 genuine examples have been confirmed by experts.
Q2: How can I tell if my 1943 penny is copper or steel?
Use a magnet. Steel sticks, copper does not.
Q3: What’s the best way to sell a rare error coin?
Through a reputable auction house or after getting it certified by NGC or PCGS.