Most people don’t give much thought to pennies, assuming they are worth just one cent. However, some pennies, like the 1996 Lincoln Cent, can be worth far more. In fact, one 1996 Lincoln Cent was sold for over $20,000! Let’s take a closer look at why this particular penny is so valuable and how you can identify other pennies that may be worth a small fortune.
The Story Behind the $20,000 Lincoln Cent
In 1996, millions of Lincoln Cents were minted. While most of these pennies are worth only one cent, a few stand out due to their exceptional quality and rarity. One particular 1996 Lincoln Cent, graded MS70 Red by the Professional Coin Grading Service (PCGS), sold at auction for over $20,000 in 2021. This sale proved that certain pennies can be worth much more than their face value, especially when they are in perfect condition.
What Makes the 1996 Lincoln Cent Valuable?
Several key factors contribute to the high value of the 1996 Lincoln Cent:
- Perfect Grade (MS70): Achieving the MS70 grade means the penny is flawless, with no visible imperfections. This is extremely rare for circulating coins.
- Red Designation: The “Red” designation indicates the penny’s bright copper color, which is highly prized by collectors.
- Low Population: Only a few 1996 Lincoln Cents have received the MS70 grade, making them very rare and valuable.
How to Identify a High-Value 1996 Lincoln Cent
If you think you may have a valuable 1996 Lincoln Cent, here’s what to look for:
- Condition: The penny should be in near-perfect condition, free from scratches, wear, or discoloration.
- Color: A bright, copper-red color is essential for higher value. The penny should not be brown or toned.
- Mint Mark: The 1996 Lincoln Cent was minted in both Philadelphia (no mint mark) and Denver (minted with a “D” mark). Both versions can be valuable if in high-grade condition.
Value of 1996 Lincoln Cent Based on Grade
Here’s a breakdown of the estimated value of the 1996 Lincoln Cent based on its grade:
- MS65: Uncirculated – $5 to $15
- MS67: Near-perfect – $50 to $100
- MS69: Almost flawless – $500 to $1,000
- MS70 Red: Perfect condition – $10,000 to $20,000+
Tips for Finding Valuable 1996 Pennies
- Use Proper Lighting: A bright light helps you spot imperfections and check for the “Red” color.
- Invest in a Magnifying Glass: A magnifying glass will help you find minor errors or scratches that can increase a coin’s value.
- Store Coins Properly: Protect valuable coins by storing them in protective holders to prevent tarnishing.
How to Sell Your 1996 Lincoln Cent
If you have a high-grade 1996 Lincoln Cent, you may want to have it graded by a professional service like PCGS or NGC. Once graded, you can sell it through platforms such as:
- eBay: A well-known marketplace for coin collectors.
- Heritage Auctions: A place for high-end coin auctions.
- Local Coin Dealers: Offer appraisals and potential sales.
While most pennies are only worth one cent, the 1996 Lincoln Cent proves that rarity and condition can turn pocket change into a valuable treasure. So, take a moment to look through your pennies—you might have something worth a lot more than you think!
What makes the 1996 Lincoln Cent worth so much?
The 1996 Lincoln Cent’s value comes from its rare perfect condition, high MS70 grade, and its bright red copper color, which is highly sought by collectors.
How can I tell if my 1996 penny is valuable?
Look for a penny in excellent condition with no scratches or discoloration. A bright copper-red color is a sign of higher value.
What is an MS70 grade?
MS70 is the highest coin grade, meaning the penny has no visible imperfections. It’s extremely rare to find a penny with this grade.
Where can I sell my valuable 1996 penny?
You can sell your penny through online platforms like eBay, at coin auctions, or through local coin dealers.
Can a regular 1996 Lincoln Cent be worth more than one cent?
Most 1996 pennies are worth just one cent, but those in perfect condition and with a rare grade can be worth thousands.
