Most of us don’t think twice about pennies, considering them only worth one cent. However, some pennies, like the 1996 Lincoln Cent, can be worth thousands of dollars.
In fact, one 1996 Lincoln Cent sold for over $20,000! Let’s explore why this penny is so valuable and how you can spot a rare one.
The Story Behind the $20,000 Lincoln Cent
In 1996, the U.S. Mint produced millions of Lincoln Cents in both Philadelphia and Denver. While most of these pennies are only worth one cent, some are considered very rare due to their exceptional quality.
One such penny, graded MS70 Red by the Professional Coin Grading Service (PCGS), sold at auction for more than $20,000 in 2021. The MS70 grade represents a flawless coin, which is very rare, especially for pennies that were in circulation.
What Makes the 1996 Lincoln Cent Valuable?
There are a few key reasons why the 1996 Lincoln Cent can be worth thousands:
- Perfect Grade (MS70): It’s rare to find a penny in perfect condition, as most are worn from use. The MS70 grade means the coin has no imperfections.
- “Red” Designation: Coins with a bright, original copper color are called “Red” (RD). These coins are more desirable because they haven’t tarnished or turned brown.
- Low Population: Only a few 1996 Lincoln Cents have earned the MS70 Red grade, making them even more rare and valuable.
How to Identify a High-Value 1996 Lincoln Cent
If you find a 1996 Lincoln Cent, here’s how to check if it could be valuable:
- Condition: Look for signs of wear or damage. Coins in near-perfect condition are worth more.
- Color: The best pennies have a bright copper-red color. If the coin is brown or has turned a different color, it may not be as valuable.
- Mint Mark: The 1996 penny was minted in two locations—Philadelphia (no mint mark) and Denver (mint mark “D”). Both can be valuable if they are in excellent condition.
Value of 1996 Lincoln Cent Based on Grade
Here’s a guide to how much a 1996 Lincoln Cent is worth depending on its grade:
| Grade | Condition | Estimated Value |
|---|---|---|
| MS65 | Uncirculated | $5 – $15 |
| MS67 | Near-perfect | $50 – $100 |
| MS69 | Almost flawless | $500 – $1,000 |
| MS70 Red | Perfect condition | $10,000 – $20,000+ |
Tips for Finding Valuable 1996 Pennies
- Use Proper Lighting: Bright light helps you spot small imperfections and check for the original red color.
- Invest in a Magnifying Glass: This tool helps you see tiny flaws or mint errors that could increase the value.
- Store Coins Properly: Protect your valuable coins by keeping them in protective holders to maintain their quality.
How to Sell Your 1996 Lincoln Cent
If you think you have a rare, high-grade 1996 penny, you can have it graded by a professional service like PCGS or NGC. Once graded, you can sell it through:
- eBay: A popular site for coin collectors to buy and sell.
- Heritage Auctions: Known for selling high-value coins.
- Local Coin Dealers: They can appraise and buy your valuable coins.
While most pennies are only worth one cent, the 1996 Lincoln Cent proves that some coins can be worth a lot more. Whether you’re a collector or just have a jar of spare change, it’s worth checking for valuable pennies—they might just be worth a small fortune!
1. Why is the 1996 Lincoln Cent worth so much?
The 1996 Lincoln Cent can be valuable if it’s in perfect condition (MS70 grade) and retains its original copper-red color.
2. What does MS70 mean?
MS70 is the highest coin grade, meaning the penny is flawless with no visible imperfections.
3. How can I tell if my 1996 penny is worth more than one cent?
Look for a bright copper-red color and check for any wear or damage. A high-grade coin is more valuable.
4. Where can I sell a valuable 1996 Lincoln Cent?
You can sell it on eBay, through Heritage Auctions, or at local coin dealers who specialize in rare coins.
5. How can I protect my valuable coins?
Store your coins in protective holders to prevent oxidation and maintain their original quality.
