The $200,000 Penny Exists Certain rare U.S. pennies — like the 1944 steel wheat penny — have sold for as much as $200,000 due to extreme rarity and historical minting errors.
Wartime Metal Mix-Ups In 1943, pennies were made of steel to save copper for World War II. In 1944, the U.S. switched back to copper — but a few steel blanks from 1943 were mistakenly used in 1944, creating the rare 1944 steel penny.
Extremely Limited Quantity Fewer than 30 known examples of the 1944 steel penny exist, making it one of the most sought-after error coins in U.S. numismatics.
Common Look, Hidden Value These pennies look almost like regular steel cents and can easily be overlooked. Their gray color and magnetic properties make them stand out — if you know what to test.
Other Valuable Pennies Too The 1909-S VDB, 1955 doubled die, and 1922 “no D” penny are also highly collectible, each potentially worth thousands depending on condition.
Condition and Rarity Matter Most Coins graded by PCGS or NGC in Mint State (MS) condition — with no wear and strong luster — bring the highest prices at auctions.
Check Before You Spend Old jars, inherited collections, and even pocket change could hold a fortune. Use a magnet, magnifier, and coin scale to spot a valuable penny before spending it.