Eric Miller, who is a coin collector, often shares his knowledge with TikTok followers on what exactly makes certain pieces rare.
This may include errors, low mintage or grade.
On TikTok, he is known as “thecoinchannel” and has more than 4million followers.
Here’s what he revealed recently about one of the rarest Lincoln pennies in existence that he claims were found in a grocery store a few days ago, according to Eric.
What to look for
In this case, you’ll want to look out for a penny with a 1943 date and make sure it’s made of copper.
It should not matter if it has a D (Denver) or an S (San Francisco) mint mark because they are all extremely rare.
If you aren’t sure, there are two other ways to confirm that you have a bronze 1943 piece, according to Eric.
First, know that most pennies in 1943 were made out of steel.
Copper pennies do “not stick to a magnet,” Eric said.
Also, you can weigh it yourself to see if you have one. The mass of a copper penny should be 3.11 grams.
If you happen to find one of these, you have likely hit the jackpot as many examples have sold for in the hundreds of thousands.
One that was certified by Professional Coin Grading Service in an “MS62BN” grade sold for $348,000.
And one in a lower circulated grade of “XF45BN” sold for $186,000 in a July auction.
The story behind the rare 1943 penny
But there’s a big reason why these particular pennies are so valuable.
During World War II, the Mint temporarily made its pennies out of steel to conserve bronze.
In 1943, it reportedly struck more than a billion Lincoln steel pennies.
That said, a small number of bronze coins were still created by mistake.
For example, just 20 examples without a mintmark have been reportedly minted.
While all are very scarce, none are rarer than the 1943 D bronze penny.
There is only one known to exist, which sold for $1.7million in a 2010 auction.
Other rare pennies
But of course, finding one of those in your spare change is a tough task.
However, there are other valuable pennies to keep in mind, particularly with double-die errors.
Arguably the most famous one of them all is known as the 1955 variety, which features the doubling of date along with the words “Liberty” and “In God We Trust.”
In average condition, the 1955 double die penny is worth $1,318, according to USA Coin Book.
The value could surpass $17,000 if in an MS 63 grade.
One buyer recently paid more than $2,000 for a circulated 1955 piece in a high grade.
Another double die penny with a 1960 date could be worth up to $4,000.
Aside from double die errors, there’s the 1922 Lincoln penny without a mintmark, which can be worth thousands depending on the grade.
It is worth $946 in average condition and up to $30,724 if in an “Uncirculated (MS-63)” grade, according to USA Coin Book.
It is estimated that 25,000 no-mintmark pennies were produced with “perhaps” 10,000 pieces surviving, according to collector’s guide Lincoln Cents.
To see if your spare change is worth anything, you can check eBay by searching the full name, selecting the “sold” listing, and then toggling the search to “highest value”.
