This Classic Illinois Penny Could Buy You A House Now

Penny production is wrapping up.

President Trump has ordered the U.S. Mint to quit making pennies because their production cost is more than their value. Stats obtained by USA Today show that only 16% of transactions were with cash in 2023 and a Pew survey from 2022 found that two-fifths of customers never use cash at all.

A lot of us (self included) have compartments in our car or jars in the house that's just a collection of coins. A typical household is sitting on $60-$90 worth of coins.

Before you take that jar to the bank to get cash, take a look closely at some of the coins.

Worth More Than One Cent

This 1958 "doubled die" penny went for $1.136 million in 2023, according to the Professional Coin Grading Service.

But experts say it's highly unlikely that you own a penny worth a million bucks. Be real.

But certain 'wheat pennies' (the ones with that wheat stalk design on the back) can be worth cash. Here's the 1943 Lincoln wheat penny. In today's world, they're worth anywhere from $100,000-$250,000 depending on the condition, according to experts.

Pre-1958 pennies can bring in hundreds, or at least definitely more than one cent. It's all about minting errors that could make the penny rare, etc.

Will pennies become valuable now that the Mint has stopped producing them? Experts are thinking no. Some might, but not all of them. There are billions of pennies in circulation.

It may take some extra Googling and research as you're getting ready to cash out your coin jar, but take a few minutes to see if you have any coins worth way more than their Mint value.