Most people overlook pennies, especially ones from the 1950s. But if you come across a 1956 Lincoln penny, don’t be so quick to toss it aside. Some rare versions of this coin are fetching thousands of dollars from collectors due to minting errors and limited production varieties. Let’s dive into what makes the 1956 penny—and a few others—so valuable.
1956-D Lincoln Wheat Penny (RPM Error)
One of the most valuable versions of the 1956 penny is the 1956-D RPM (Repunched Mint Mark). In this error, the “D” mint mark was accidentally punched more than once, creating a visible doubling. Collectors love this error, and coins in uncirculated condition can be worth up to $3,000 or more, depending on clarity and grade.
1956 Lincoln Penny with Die Crack
Another rare variation is a 1956 penny with a die crack, a minting flaw that creates a visible line or raised ridge on the coin’s surface. While minor die cracks may not be extremely valuable, major ones—especially those running across Lincoln’s profile—can command prices from $100 to $1,500, particularly when certified by a professional grading service.
1955 Double Die Penny (Close Relative)
Though technically from the previous year, the 1955 Double Die Lincoln Penny is often mentioned in the same breath as the 1956 due to its dramatic appearance and skyrocketing value. With clear doubling of the text, this coin can fetch $10,000 to $50,000 depending on condition and demand. If you’re checking for 1956 errors, don’t skip your 1955 pennies either!
Don’t Underestimate the 1956 Penny
It may seem like just another wheat penny, but the 1956 Lincoln cent can hold surprising value—especially if it features a mint error like an RPM or die crack. Combined with other close relatives like the 1955 double die, your spare change might be worth far more than face value. Always check your pennies—you could be holding a collector’s dream.
FAQ’s:
1. What does “RPM” mean on a penny?
RPM stands for Repunched Mint Mark, where the mint mark was stamped more than once in slightly different positions.
2. How can I spot a die crack on a penny?
Look for raised lines or ridges that seem out of place, often stretching across the coin’s face or fields.
3. Is a 1956 penny without errors valuable?
Most are worth only a few cents to a dollar, but mint state examples or those with errors can be much more.
4. Where can I sell rare pennies?
Try online auctions, certified coin dealers, or coin shows. Get your coin graded first for better credibility and value.
5. Are these rare pennies still in circulation?
It’s rare, but yes—many people have found valuable wheat pennies in jars, drawers, or pocket change.