For those who say the U.S. penny is worthless, coin collectors strongly disagree.
Collectors spent millions of dollars to acquire the final pennies ever circulated in the United States after the government ended production of the one-cent coin in November, according to the Associated Press. At an auction held last Thursday by Stack’s Bowers Galleries, the U.S. Mint sold 232 special three-coin sets for a total of $16.76 million.
The final set—number 232, containing the last three pennies ever struck—sold for $800,000. That purchase also included the three coin dies used to produce the Lincoln cents.
John Kraljevich, director of numismatic Americana at Stack’s Bowers, said the auction was unprecedented. “You don’t really know the market value until the bidding begins,” he said. “I’ve been attending coin auctions for 40 years, and I’ve never seen anything like this—because there’s never been anything like this.”
Stack’s Bowers President Brian Kendrella said the pennies captured widespread interest. “They sparked the public imagination like few rare coins we’ve ever handled,” he said.
When the penny was first introduced in 1793, it could buy a biscuit or a piece of candy. Today, most pennies end up forgotten in jars or drawers, though collectors see them as tangible pieces of American history.
Each auctioned set included 2025 pennies struck at the Philadelphia Mint, the Denver Mint, and a final 24-karat gold penny marking the end of production. Every coin featured a unique Omega symbol. The 232 sets represented each year the penny circulated in American life.
“The penny has been woven into our language, our culture, and our everyday experience,” Kraljevich said. “For many people, the end of penny production brings a strong sense of nostalgia.”