Imagine finding a penny in an old tackle box that’s worth nearly a million bucks! A rare 1964 steel Lincoln penny, recently discovered in a fisherman’s tackle box, has shocked collectors with a potential value of $895,000. While most 1964 pennies are common, this one’s unique steel composition makes it a treasure. Here’s the scoop on this amazing find and how you might spot a similar gem in your own change.
The Lincoln Penny Background
The Lincoln penny, first minted in 1909, shows Abraham Lincoln’s face on the front and, in 1964, the Lincoln Memorial on the back. That year, the U.S. Mint made over 6.5 billion pennies, mostly copper, in Philadelphia (no mint mark) and Denver (D). During World War II, pennies were made of steel to save copper, but by 1964, steel pennies were not supposed to exist. A few rare steel pennies from 1964, likely struck by mistake, are now worth a fortune.
The Tackle Box Treasure
The $895,000 valuation of the 1964 steel penny found in a tackle box has sparked excitement, though no confirmed sale at this price is documented. Similar rare pennies, like the 1943 bronze penny, have sold for over $1 million, and 1944 steel pennies have fetched up to $408,000 at auction. This 1964 steel penny’s high value likely comes from its rarity—possibly made when a steel planchet was accidentally used. Collectors are buzzing, but experts urge authentication to confirm its worth.
How to Spot a 1964 Steel Penny
To check if you have a rare 1964 steel penny, grab a magnet. Steel pennies stick to magnets, unlike copper ones. Look for a silver-gray color, not the reddish-brown of regular 1964 pennies. Check the date and mint mark (D for Denver, none for Philadelphia). Errors like doubled dies (blurry lettering) or a high-grade condition (MS-65 or better) can boost value. If you find one, don’t clean it—cleaning hurts its worth. Get it appraised by a service like PCGS or NGC.
Where to Find These Rare Coins
This tackle box find shows rare pennies can turn up anywhere. Check old coin jars, family heirlooms, or even garage sale finds. Bank rolls or change from stores might hold surprises, too. Since billions of 1964 pennies were minted, spotting a steel version is like finding a needle in a haystack, but it’s possible. If you think you’ve got a rare one, take it to a trusted coin dealer for verification. Auctions are the best way to sell a valuable penny.
Why Collectors Love These Pennies
Rare pennies like the 1964 steel version are a collector’s dream because of their history and scarcity. Mistakes at the mint, like using the wrong metal, create coins that stand out. As fewer of these pennies remain in circulation, their value climbs. Even if the $895,000 price isn’t verified, a 1964 steel penny could still bring thousands, making the hunt thrilling for coin enthusiasts.
| Feature | Details | Potential Value |
|---|---|---|
| Steel Composition | Sticks to magnet, silver-gray color | Up to $895,000 (unverified) |
| Doubled Die Error | Blurry or doubled lettering | $1,000–$10,000 |
| High Grade | MS-65 or better condition | $1,000–$10,500 |
| Denver Mint (D) | “D” mint mark, steel | Up to $895,000 (unverified) |
Don’t overlook that old tackle box or coin jar! A 1964 steel penny could be hiding, ready to turn pocket change into a windfall. Grab a magnet and start checking your pennies today—you might just hit the jackpot!
