However, mint records showed no Lincoln cents were made at the Philadelphia Mint in and that all pennies were struck in Denver that year. During the leanest years of the Great Depression, the United States Mint clamped down on the production of many coins, including the Lincoln cent.
In , the U. Mint greatly reduced the number of Lincoln cents it produced. The San Francisco Mint struck only , examples of the penny that year. More than one billion steel cents were struck, but a few were accidentally made from bronze planchets. It's unknown exactly how many exist, but the number totals around two dozen from the Philadelphia, Denver, and San Francisco Mints combined. The more common Steel Lincoln cent. The steel cents were officially a one-year-only production, but a few leftover steel planchets were inadvertently stamped with dated Lincoln cent dies intended for bronze production.
One of the most popular varieties ever struck was the doubled die Lincoln cent. The doubled die penny shows heavy doubling in the obverse inscriptions and the date. One of the most valuable doubled die varieties ever produced is this S penny error. Doubling is apparent on the obverse in the inscription and date but not the mintmark. The mintmark was hand-punched on the die after it was hubbed the process of creating a working die, where the doubling on this coin would have occurred.
Another doubled die Lincoln cent rounds out the top 10 on this list of most valuable pennies, with this highly popular variety from While most coins without a mark are from the Philadelphia Mint, Denver was the only mint to strike pennies in It is believed that about 15, to 20, coins were produced in this way.
The image on the reverse is sharper than that on the face since the die used for the reverse was a fresh one. This one appears to be uncirculated and properly stored to avoid wear and retain its bright copper-red color. This penny is another "mistake. The mint returned to using copper planchets in While there are examples of this coin in zinc from both the Philadelphia and Denver Mints, it is estimated that there are no more than 10 from Denver.
Lincoln pennies that were minted between and tend to be worth more since they are almost percent copper, rather than an alloy. Improperly prepared dies can result in coins with a "double" image. The most well-known was in , but this also occurred in coins dated , , , S, , S, and Originally believed to be counterfeit, the government destroyed five coins before acknowledging the error. In January , a doubled die obverse uncirculated penny, red-brown in color, sold at Heritage Auctions in Orlando.
More than 4 million of these coins were minted, but they were inconsistent in quality, so problem-free examples are fairly rare. This particular coin was not only in excellent condition. It also was struck from a fresh set of coin dies. While the excellent condition makes it valuable, it would be so even in worse condition since only nine other wheat pennies were produced in lesser quantities. Though it had a mintage of just over 1 million which is low for a penny , most of these coins went into circulation so a mint-condition example is rare.
The scarcity of this coin increases its value. The Indian Head penny design dates back to During the Civil War, the government had difficulty obtaining metal for coins, so halfway through , they switched from a copper-nickel mix to a bronze alloy.
In , the price of copper made a penny cost more than one cent to produce, so the U. According to CoinTrackers , just , of these rare pennies were minted. The coin sold in the listing is the Sheldon version. Just over 42, of the normal date versions of the coin were minted in , according to USA Coin Book.
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