Social media has been abuzz over the holy grail of pennies: the 1982-D Small Date cent. The copper coin from the Denver mint, previously valued at between $18,000 and $25,000, is valuable because very few were minted.
Could there be a $20,000 penny in your pocket? Experts say It's highly unlikely.
Still, online influencers as well as a slew of hustlers on Facebook, TikTok and YouTube push the narrative this particular rare 1982 penny can be found in your loose change. These posts generate clicks, but they can also create false hope among amateur collectors and those looking to score a rare find.
"People have been searching for 40 years, and only two have been found, in 2016 and 2019," Michael Bugeja, professor emeritus at Iowa State University's
Greenlee School of Journalism and Communication and a former member of the Citizens Coinage Advisory Committee of the U.S. Treasury Department, told USA TODAY.
Beyond those two coins, "I haven’t heard of another one," said John Brush, president of rare coin trading and auctioning company DLRC. "Unfortunately, these aren’t easy pieces to find in pocket change as the weight is the important piece of the puzzle."
Even though the humble penny is no longer being minted – the Treasury Department quit printing the coin last year – it remains important for collectors. Just last year, 1943 Lincoln wheat pennies were the coin hunting craze.
Ever since collectors found the second 1982-D Small Date specimen, wrote Numismatic News in May 2019, there's been the hope that another special penny might be found.
What's so special about this ultra-valuable penny?
Why do amateur coin hunters risk getting scammed if they don't know the details? Well, there are plenty of particulars for this penny. Let's make it simple: The coveted 1982-D Small Date bronze cent weighs 3.1 grams. You need to know what a small date is, plus the mintmark "D" under the date, and that coin has to weigh 3.1 grams. "If you get this, you win the lottery," Bugeja said.
Why all the confusion? There are seven common varieties of 1982 pennies beyond the rare one. The Denver mint produced a Large Date bronze cent, 3.1 grams, as well as a Large Date copper-plated zinc coin, weighing 2.5 grams, and a common Small Date copper-plated zinc coin weighing 2.5 grams. And then there is the Philadelphia mint (these pennies have no mintmark): Large Date bronze, 3.1 grams; Large Date copper-plated zinc coin, 2.5 grams; Small Date bronze, 3.1 grams, and Small Date copper-plated zinc, 2.5 grams.
Because of these varieties, and people unschooled about them, they either are scammed or falsely believe they found treasure, Bugeja said.
The coin became a rarity due to changes in minting pennies. In 1982, the U.S. Mint switched from making pennies with copper – also called bronze because they were made with a copper alloy – to zinc to save money; however, since then, copper prices have risen to the point where the copper needed to make a penny would cost more than one cent.
In 1982, when it was found that blank zinc coins or planchets were presenting problems being struck, new dies were created with smaller dates and words. Apparently, a few copper coins were minted with the newer small dates during the transition – a transitional error – hence their rarity.
How collectors can prevent being scammed
The U.S. Mint made 10.7 billion 1982 pennies at the Denver and Philadelphia mints, so it's easy to find a 1982 penny. But this unicorn coin? "Will they find it? Almost always no," Bugeja said. "Why hasn't another been found then? Answer: Because there may not be a third."
Recently, Bugeja found 20 listings on eBay seemingly with 1982-D Small Date pennies for sale – some asking for thousands of dollars for coins that might only be worth a penny. "Could have found dozens if not hundreds more if I had all day," he wrote on his coin news site Proxiblog on Aug. 11.
Buying coins on eBay or other non-specialty sites can be dicey because buyers "are dealing with vendors who accept no responsibility that the item as presented is genuine. Nor do they accept any responsibility to help the scammed person get their money back," said Mary Sauvain, executive director of the Anti-Counterfeiting Educational Foundation. The ACEF website has a directory of trusted expert directory on line of dealers who have been vetted.
That's good advice, adds Donn Pearlman, a spokesman for the Professional Numismatists Guild, a nonprofit organization composed of many of the country's top rare coin experts. "If you don't know rare coins, you better know your rare coin dealer. PNG member-dealers must follow a strict Code of Ethics in buying and selling numismatic merchandise."
Those eBay sellers may not be scammers, and instead may just be mistaken about the coins they have. People may claim to have found the rare penny because they cannot distinguish between the Large Date (copper) and Small Date (zinc) varieties, Bugeja said. Regardless, buyers should beware.
How to identify the 1982-D Small Date cent, which has a "D" to denote its minting in Denver:
- The weight: The 1982-D Small Date coin weighs 3.1 grams, while standard 1982 Small Date coins weigh 2.5 grams. Unfortunately, if you are buying from an online site, you may not be able to ensure the coin's accurate weight. "Scammers show large date examples on a scale reading 3.1 grams and claim those are the Small Date. Or they intentionally calibrate their scales so the 2.5 gram reads 3.1 grams," said Bugeja, who breaks down the coin's characteristics in a 2024 blog post and posts about coins on Facebook.
- The date: The “2” on the 1982-D Small Date coin has a serif font curve at its base, and the "1" and "8" on the Small Date coin are the same size. On the Large Date variety, the "2" has a straight base and the "8" is slightly bigger than the "1" and "2."
- Authenticity: If you feel you must attempt to acquire a 1982-D Small Date cent, don't buy from a site such as eBay, Bugeja said. It's much safer to buy from a major auction house such as GreatCollections, StacksBowers or Heritage Auctions. It should also be sealed in a holder made by the Numismatic Guaranty Company (NGC), which grades and backs coins. Expect to pay "multiples of thousands of dollars," Bugeja said.
Coin shops in Bucks County
The Exchange Inc. Woodbourne Square, 2052 E Old Lincoln Hwy #213, Langhorne. 215-752-8993
Hipps and Sons Coins and Precious Metals, 408 S State St., Newtown. 215-550-6854
Bucks County Rare Coin and Precious Metals, 116 N Main St. Sellersville.267-372-4348
Bob Paul Rare Coins. BY APPOINTMENT ONLY, Lower Makefield Shopping Center, 668 Stony Hill Road, Suite 217, Yardley. 215-275-4700
Doylestown Gold Exchange, 812 N. Easton Road, Condo Unit 1, Doylestown. 215-345-6630
Bucks County Coins and Currency, Hulmeville Road, Bensalem. 215-639-3022
Neshaminy Stamps and Coins, Bensalem Plaza Shopping Center, 2102 Street Road, Bensalem. 215-244-1965
Gold Guys LLC, 46 Second Street Pike, Southampton. 267-684-6237
The Gold and Gift Card Buyer Master, 4135 Woerner Ave., Levittown. 215-730-3577
First Pennsylvania Precious Metals D.B.A. Guy Edward Family Jewelers , 25 Easton Road, Warrington. 215-674-5910
Jerry's Coin & Stamp Supplies, 1202 Bethlehem Pike, Hatfield. 215-822-1425
C R Notoris Clock & Coin, 11 W. Court St., Doylestown. 215-230-7180
Philadelphia Gold & Silver Exchange, 1108 Bustleton Pike, Feasterville-Trevose. 215-322-5005
Safe Collecting Supplies, 331 W County Line Rd, Hatboro. 877-395-7233
Coin hunters might have more luck searching for pennies minted with a die that leaves a doubled image – he offers some examples on his blog.
"But if you still want to search for the unicorn, look for rolls of 1982-D and Mint Bags of 1982-D," he said. "Those will be your best chance of winning the lottery, with the same odds," Bugeja said.
Mike Snider is a national trending news reporter for USA TODAY. You can follow him on Threads, Bluesky, X and email him at mikegsnider, @mikegsnider.bsky.social, @mikesnider & msnider@usatoday.com.
This article originally appeared on Bucks County Courier Times: This penny is worth $20,000? Here's how to identify this rare coin
