1994 Penny Value – When we are talking about old coins, many people would think of rare gold coins or old Roman coins that have been buried for more than thousands of years. Those are antique coins worth in museums places. But what if we told you, that there are also a lot of coins, pennies, and cents that can be worth more than a couple of hundreds, thousands, or even millions of dollars?
Many expert coins collectors and advisers have already been aware one the existence of rare pennies, and extraordinary scents, such as some of the 1994 pennies worth money, the rare Canadian silver penny, gold sovereign penny, Lincoln Error pennies, and so on.
In this article, we would show you the 1994 pennies worth money and their value increased over the years.
If you are a coin collector searching for new collections, or an investor researching valuable coins that could be worth your money, then you would also like our other article here about the 1940 penny worth million dollars.
The 1994 penny is not the rarest pennies, and it also doesn’t have any special value or commemorative meanings whatsoever.
Since it is also released in 1994, which means that it isn’t even that old compared with other types of pennies like the Indian Head penny, Lincoln Wheat Ear pennies, and so on.
However, a few very special specimens of the 1994 penny worth money and more valuable than you think. Of course not all of them are precious coins; after all, it is still just one penny.
If you are planning to invest your money in some old coins, or want to expand your old coins collections, then one coin series you should get to start your collection is the 1994 Lincoln pennies.
The 1994 Pennies Origins, History, and Specifications
First let’s take a look at the 1994 penny, what makes them special? And how valuable they are in the eyes of collectors.
Then we would also point out some of the 1994 pennies worth money in the current market. Let’s take a look at the 1994 penny history, origins as well as 1994 penny specifications.
The 1994 penny, are the Lincoln penny, to be precise, the Lincoln memorial penny that has been in circulation for more than decades.
The Lincoln Memorial penny was first minted to replace the older long-lasting Lincoln wheatear penny that has been in circulation for many years.
Now, the 1994 Lincoln memorial penny is still in circulation up to this day and is sometimes still used as a change too.
Most of the 1994 Lincoln memorial pennies aren’t valuable, and won’t be worth more than their initial face value.
However, one thing to keep in mind is these pennies can be worth money when it is sold for a premium price, especially the uncirculated coins.
If you want to find out some of the 1994 pennies worth money and value, keep on reading more about these peculiar one-cent coins.
First, let’s take a look at the initial designs, and specifications of the 1994 Lincoln coin itself. Here are the 1994 Lincoln Memorial Coins specifications:
- Type: Lincoln Memorial Penny
- Year: 1994
- Face Value: $0.01
- Composition: 99.2% zinc, 0.8% copper
- Total Weight: 2.5 grams
Before the 90s, the United States of America used bronze as its composition for the cents penny. Bronze is a precious metal that has reddish color made from a composition of copper and tin, but when oxidized after long exposure to the environment turns brownish-red.
Bronze, however, has seen a rising in its price, especially during the World War II era, when copper is valuable metal to use in weapon production.
Then, in the mid-90s, the United States American government changes the composition of the penny, to have a very low copper composition, and change it into a Zinc penny, particularly changing the Lincoln copper penny into the current penny.
This is due to the increasing price of copper, and the copper price has risen to be more expensive than one penny, meaning that to create one penny would need more than just one cent for its copper composition.
So, what can we expect from this information? That means that some coins pre-changes where the copper composition is still high will have a higher value compared with the lower copper composition.
Back to the 1994 Penny, in the year 1994, the US minted the 1994 Lincoln memorial penny that has no mint mark, the 1994 D penny value, and also the 1994 S Proof penny.
These three are the variety of 1994 pennies that have been in circulation. The mint mark of the Lincoln penny, if it is present can be found below the date, on the observed side of the Lincoln coins.
Understanding the value of 1994 pennies worth money requires an understanding of the different varieties of each penny.
There are different pennies, with different amounts of quantity minted, hence different rarity, and grades.
To make sure you understand the different varieties of a penny, here is the variety of 1994 Lincoln pennies that have been in circulation for more than decades.
First, we have the 1994 Lincoln memorial penny series. It was minted in Philadelphia with the total minted quantity reaching more than 6.500.750.000.
It is a common penny that has been minted, and if you find the 1994 Lincoln penny, big chance that it is from this variety. The good grade of the 1994 Lincoln penny would fetch around $0.6 to $5.
Now, there is the 1994 D Lincoln memorial penny. It was minted in Denver with the total minted quantity reaching more than 7.131.675.000.
It was one of the most printed 1994 pennies, and hence it is very commonly found. You can differentiate the D penny from the 1994 Lincoln penny due to the D mark on the bellow side of the observed side.
The 1994 S Proof penny was a commemorative penny, minted for a special occasion and also in limited quantity. It was minted in San Francisco, with a total amount of 3.269.000 and more.
The S-proof penny, however, doesn’t have a significant value compared with other circulated pennies. However, some of the premium uncirculated S-proof pence can be one of the 1994 pennies worth money.
1994 Lincoln Memorial Penny Value and Worth
Most of the 1994 Lincoln memorial penny are in circulated conditions, meaning most of them have been in circulations a lot, traded, being used as changes, thrown into the banks or pockets, and generally exposed to environmental damage.
Most of these circulated pennies would only be worth their initial face value of one cent ($0.01), however, some premium uncirculated pennies can be worth more.
The 1994 penny that has no mint mark and also the 1994 D penny are worth around $0.30 while in the uncirculated conditions. Some of the rare grades, of the MS-65, could reach more than hundreds of dollars and can be acquired through an auction.
One of the 1994 pennies worth money is the 1994 S-proof penny that can be worth around $10 to $20 in at least PR 65 condition, while the MS grade conditions are very rare, and can even be worth it for more than hundreds and thousands of dollars.
The MS grade is an uncirculated gem, meaning that it has very strong luster, and shine, and it is eye appealing. Few light contacts, and no blemishes to be seen.
It is quite a flawless specimen; so many collectors would pay a lot for this rare, uncirculated, and flawless quality of pennies.
There are also error pennies. The 1994 penny error can also be worth more than hundreds, or even thousands of dollars if the condition was right, and it is a genuine error.
Some of the notable error pennies such as the die crack penny, the double die penny, the no mint mark penny, and so on.
Frequently Asked Questions about The 1994 Pennies Worth Money
It isn’t easy to find a penny worth your money, or hunt for error pennies, as the chances of finding a penny coin that is worth money is pretty slim.
To help you better invest your money for coin collections, and generally how to find better collections, more rare pennies worth the money, here are a few frequently asked questions regarding the 1994 pennies worth money today.
How Much is a 1994 Penny Worth?
Depending on several factors such as grading, minted condition, rarities, and errors, the 1994 penny could value differ from others? One big factor in deciding the value and worth of the 1994 penny is the rarity. The rarer the 1994 penny the more valuable it is in the eye of collectors.
Grading also plays a huge role in determining the worth and the 1994 penny value. Grading in the United States was based on the coin conditions, the better the conditions the more value it has.
The conditions were inspected and based on how pristine it is, the closest the coin to uncirculated, and the more closely to the near-minted state the higher the grade.
The lowest grade is a poor grade (worth only $0.1 or at least $0.2), then a good grade is divided into good, extra good, extremely good (worth around $0.4 to $4), then a fine grade is divided into fine, extra-fine, extremely fine (worth around $6 to $40), then there is AU grade (worth for around $40 to $65) then the highest grade is MS grade, near minted state, divided into MS-60, MS-61 to MS-70 (The MS grade are higher-end grade that each of the grades increases its value by more than hundreds of dollars).
How to Find Notable 1994 Lincoln Penny
A circulated 1994 Lincoln penny can be found in many places, such as pawn shops, antique dealers, banks, internet shops, or some local old coins dealers. Generally, the circulated coin is much more common, and therefore easier to find.
The value isn’t much worth it though, even with the grade of fine or extremely fine, the circulated pennies would be worth at least $15 to $30 at most.
However, the rare uncirculated pennies are harder to find, meaning that they can’t be found in several places, and you need to do thorough research or coin hunting.
Some of the rare uncirculated pennies can be found in many antique coin dealers, and some even would show up at the auction. These are rare, and therefore one of the most notable 1994 Lincoln penny.
What 1994 Penny is Worth Money?
Remember that not every 1994 penny is worth money. Penny that seen heavy circulation, being around, traded, and exchanged many times would have wear and tear, making them graded poorly. this will make the 1994 penny lose its luster, not very valuable, and therefore not worth the money.
However, the 1994 pennies worth money and valuable coins are the uncirculated ones. Uncirculated pennies mean that they see very little to no time in circulations, hence their conditions are pristine, and still maintain their luster and shine.
Some of the error pennies are also worth the money, due to their rarity, and oddities. Rare pennies are very rare though and finding an error that is worth the money is incredibly rare.
Refer to our information regarding the loss of Error pennies from the Lincoln 1994 error pennies.
Looking for More Information About Coins? Check Other Years From This Lincoln Coin Series:
1959 1960 1961 1962
1963 1964 1965 1966
1967 1968 1969 1970
1971 1972 1973 1974
1975 1976 1977 1978
1979 1980 1981 1982
1983 1984 1985 1986
1987 1988 1989 1990
1991 1992 1993 1994
1995 1996 1997 1998
1999 2000 2001 2002
2003 2004 2005 2006
2007 2008 2009
Are 1994 Pennies Worth Anything?
Generally speaking, not every 1994 pennies is worth anything. Some of the poor-grade pennies wouldn’t even sell for their initial face value of one cent. The other grade worth a good grade or a fine grade can be worth around $0.6 up to $40, depending on their rarity and grading, the value could increase exponentially.
Some of the rarest and most valuable 1994 pennies worth money are the pristine gem of MS grade. MS grade is the near-minted state where the coin is uncirculated, has never been to circulations, and has been taken care of to make sure the conditions are pristine just like they are first minted.
The luster of the coin is there, and it is considered a precious gem.
The most expensive and valuable 1994 penny is the grade MS-67 full reddish specimens, with brilliant lusters, it is sold at auction and reached $62.000, now that is the 1994 pennies worth money.