For both enthusiasts and collectors, the 1958 penny is an intriguing coin. Some unusual variations can fetch hundreds or even millions of dollars, although the majority of these pennies are ordinary. However, how uncommon is a 1958 penny, and what is its true value? This article will examine the coin’s kinds, history, and biggest sales ever recorded.
History of the 1958 Penny
The Lincoln Wheat Cent series, which was produced from 1909 to 1958, includes the 1958 cent. The obverse (front) of it depicts Abraham Lincoln, while the reverse (rear) shows two wheat stalks. In 1959, the Lincoln Memorial dime took its place.
The 1958 penny was struck in substantial amounts by the U.S. Mint, making it a rather common coin. However, certain instances can be quite valuable due to unusual variances, mint mistakes, and flawless states.
What Makes a 1958 Penny Rare?
Some rare 1958 pennies may sell for hundreds of dollars, while the majority are just worth a few cents. The following factors contribute to the value of some 1958 pennies:
1. Mint Errors
A coin’s value may rise as a result of mistakes like double dies, off-center strikes, and planchet defects. One of the rarest Lincoln cents ever discovered is the 1958 doubled die penny.
2. Proof vs. Regular Strike
The finest 1958 pennies may fetch hundreds of dollars, particularly those with an MS67+ (Mint State) grade.
3. High-Grade Coins
The highest-graded 1958 pennies, especially those with an MS67+ (Mint State) grade, can sell for thousands of dollars.
What 1958 Penny Is Worth $1,000,000?
The 1958 doubled die penny is the most valued 1958 penny. It’s one of the rarest Lincoln cents ever, with only three known. This coin, in excellent condition, has brought close to $1,000,000 at auction. The words “LIBERTY” and “IN GOD WE TRUST” are where the doubling is most noticeable.
How Much Is a 1958 Penny Worth?
The value of a 1958 penny depends on its condition and variety. Here’s a general breakdown:
| Condition | Value |
|---|---|
| Circulated (common) | $0.03 – $0.10 |
| Uncirculated (MS60 – MS65) | $5 – $50 |
| MS67+ (Top Condition) | $1,000+ |
| 1958 Doubled Die (MS66+) | $500,000 – $1,000,000 |
The majority of 1958 pennies merely have face value, but if you come across one that is very well-preserved or has a flaw, it may be a gem.
What Year Is a Penny Worth $50,000?
Although a few rare pennies have sold for $50,000 or more, the 1943 copper cent is among the most well-known. They are quite uncommon because some were struck in copper rather than steel due to a minting mistake.
Additionally, a 1958 penny with a twofold die fault or in excellent condition might sell for over $50,000 at auction.
Why Is a 1982 Penny Worth So Much?
Because it represents a change from 95% copper to 97.5% zinc, the 1982 penny is valued. The 1982-D tiny date copper penny is one of the rarer kinds that may fetch thousands of dollars.
Some 1982 pennies are especially scarce because of their metal composition and transitional flaws, even if the 1958 cent is older and more desirable.
What Year Penny Is Worth $2,000,000?
There are only few U.S. pennies that have sold for more than $2,000,000, including the 1943 copper penny and the 1944 steel penny. There aren’t many of these coins since they were produced incorrectly.
The uncommon doubled die version has sold for over $1,000,000 at auction, although no 1958 penny has ever brought $2,000,000.
What Penny Is Worth $300,000?
The 1955 doubled die penny is one of the most famous error coins and has been valued at over $300,000 in pristine condition.
A top-grade 1958 doubled die penny could also reach $300,000 or more, depending on its condition and demand.
How to Identify a Rare 1958 Penny
Here’s how to determine whether you believe you have a valuable 1958 penny:
- Examine “LIBERTY” and “IN GOD WE TRUST” for indications of doubling.
- Verify the situation: The value increases when there are fewer imperfections and scratches.
- Weigh the coin. The weight of a 1958 penny should be 3.11 grams. An uncommon mistake might be indicated by any variation.
- Consult an expert: Your pennies can be authenticated and graded by coin grading services such as PCGS or NGC.
Where to Sell a 1958 Penny
If your 1958 cent is valuable, you could want to sell it for:
- Coin Auctions: Stack’s Bowers, Heritage Auctions
- Online marketplaces: specialized coin websites, eBay, and Etsy
- Numerous merchants purchase unusual coins from local coin shops.
- Grading Companies: Coins certified by PCGS and NGC fetch greater values.
Final Thoughts
There are both common and exceedingly rare varieties of the 1958 penny, making it an intriguing coin. A handful, like the 1958 doubled die penny, can be valued up to $1,000,000, while most are just worth a few cents.
Examine your 1958 cent for uncommon flaws and think about having it graded. It’s possible that you have a secret wealth!