Last US cents sold at auction for a sum of $16.76 million were worth a pretty penny

Last U.S. Pennies Fetch Millions at Historic Auction

To those who argue that the U.S. penny had no value: coin collectors have delivered a resounding $16.76 million response.

In an unprecedented auction held last Thursday, Stack’s Bowers Galleries sold 232 three-cent sets containing the final Lincoln pennies produced before the U.S. government ended the coin’s production last November. The auction marked the end of an era for a coin that has been part of American culture since 1793.

The 232nd set—containing the very last three pennies ever minted—sold for a staggering $800,000. That fortunate bidder also received the three dies used to strike those final coins, adding to the historical significance of the purchase.

“I’ve been going to coin auctions for 40 years, and I can tell you, I’ve never seen anything like this, because there’s never been anything like this,” said John Kraljevich, director of numismatic Americana at Stack’s Bowers. The auction’s unprecedented nature made it impossible to predict the items’ market value before bidders began placing their offers.

Stack’s Bowers President Brian Kendrella noted the exceptional public interest in the auction, saying, “They captured the public imagination like few rare coins we’ve ever handled.”

Each set in the auction contained three 2025 pennies—one each from the Philadelphia and Denver Mints, plus a special 24-karat gold penny. All bore a unique Omega symbol, representing the end of the penny’s 232-year production run. The 232 groupings symbolically represented each year the coin had been embedded in American culture.

The penny’s journey through American history has been remarkable. When introduced in 1793, it held significant purchasing power—enough to buy a biscuit or piece of candy. In recent decades, however, most pennies ended up forgotten in jars or junk drawers as inflation eroded their practical value.

Despite its diminished utility in everyday commerce, the penny maintained a strong presence in American culture. Common expressions like “a penny for your thoughts,” “penny-pinching,” and “penny-wise and pound-foolish” demonstrate how deeply the coin penetrated the national consciousness. The Lincoln penny, introduced in 1909, became one of the most recognizable symbols of American currency, featuring the 16th president’s profile on its obverse side.

The coin’s elimination comes after years of debate about its practical value. Critics argued that it cost more to produce than its face value, with production costs in recent years exceeding 2 cents per penny. Advocates for keeping the coin pointed to its historical significance and the potential inflationary impact of rounding prices in a penny-less economy.

For serious numismatists and collectors, however, the penny’s cultural and historical significance far outweighs its face value. The auction results demonstrate the premium collectors place on owning pieces of American monetary history, particularly items representing the end of an era.

The extraordinary prices commanded by these final penny sets reflect both the rarity of the items and their historical significance. While most Americans rarely gave their pocket change a second thought, these final pennies have transformed from everyday currency into coveted artifacts of American history.

“American culture has incorporated the penny into our lexicon, into our pop culture, into all of this stuff,” Kraljevich explained. “And I think for a lot of people, the ending of production of cents for circulation is an item of nostalgia.”

With the penny now relegated to history books and collector’s cases, Americans must adjust to a currency system without the familiar copper-colored coin that has jingled in pockets for more than two centuries—while collectors treasure the final specimens of this humble but iconic piece of American history.