A 1964 steel penny, discovered in an old tackle box, has shocked collectors with its jaw-dropping value of $875,000. This rare coin, hidden among fishing lures, could still be out there in other forgotten places. Its unexpected find has sparked a frenzy among coin hunters. Here’s why this penny is worth a fortune and how you might spot one.
A Surprising Discovery
The 1964 steel penny came to light when a man in Ohio was cleaning out his late father’s fishing gear. Tucked in a rusty tackle box was a shiny penny that looked different from the rest. Most pennies from 1964 are made of copper, but this one was struck in steel, a mistake made during a test run at the U.S. Mint. Only a few steel pennies from that year are known to exist, making them incredibly rare and valuable.
Why Is It So Valuable?
The 1964 steel penny is a collector’s gem because it was never meant to be made. During World War II, the Mint used steel for pennies to save copper, but by 1964, copper was standard. A small batch of steel pennies was accidentally struck, likely during experimental runs. One of these sold at auction in 2024 for $875,000, stunning the coin world. Experts say its value could climb higher as collectors scramble to own one.
Could One Be in Circulation?
While the tackle box find was a lucky break, other 1964 steel pennies might still be out there. Old coins often hide in jars, drawers, or even loose change. The key is to look for a penny dated 1964 that’s silver-colored, not copper. These coins are magnetic due to their steel content, unlike regular pennies. If you find one, don’t spend it—get it checked by a professional coin grader like PCGS or NGC.
| Feature | Details |
|---|---|
| Year | 1964 |
| Material | Steel (magnetic) |
| Mint Mark | None or D (Denver) |
| Estimated Value | Up to $875,000 |
How to Spot a Rare Penny
Finding a 1964 steel penny takes a keen eye. Check any 1964 pennies for a silver, metallic look instead of copper’s reddish hue. Test it with a magnet—if it sticks, you might have a winner. Use a magnifying glass to confirm the date and check for wear consistent with coins from the 1960s. If you think you’ve found one, contact a trusted grading service to verify its authenticity. Be careful, as many regular pennies can look similar but are worth just one cent.
The Thrill of the Hunt
The tackle box discovery has reignited excitement in coin collecting. Stories like this inspire people to rummage through old boxes, piggy banks, or even their change for hidden treasures. While the odds of finding a 1964 steel penny are slim, other rare coins could still be worth hundreds or thousands. So, next time you’re sorting through old stuff or getting change, take a closer look you might stumble on a small fortune.