Top 6 Rare Blue Pennies Worth $78 Million – Are They Still in Circulation?

In the intriguing realm of coin collecting, there are few mysteries that grab one’s attention quite like the enigmatic “blue penny.” These unusual coins typical Lincoln cents that have developed a range of blue hues are among the most fascinating examples in contemporary numismatics.

While the classic copper penny’s reddish-brown coloring is known to every American, these blue-colored variants are exceptions, routinely fetching super-premiums in specialized collections. This article explores the top six most valuable blue penny varieties, their origins, and what makes them worth hundreds or even thousands of times their face value.

The Science Behind Blue Pennies

Before diving into specific varieties, it’s worth understanding what causes pennies to turn blue in the first place. Unlike privately sold novelty coins intentionally colorized, actually valuable blue pennies develop their characteristic coloration as a result of natural or inadvertent processes that change the metal surface.

The most frequent causes of blue discoloration on pennies are:

• Chemical reactions: Some chemicals cause blue patina on copper when they come into contact with copper. Ammonia is one such culprit, reacting with the copper to produce blue copper hydroxide compounds.
• Heat toning: Heating copper to certain temperatures can cause it to develop a blue oxide layer on its surface. Thermally induced toning may vary from delicate blue highlights to intense azure coverage.
• Environmental exposure: Exposure to specific industrial atmospheres or soil conditions over an extended period of time can sometimes introduce bluish tones to copper coins.
• Mint errors: In rare cases, contamination in the minting process or unusual alloy mixtures can create blue-tinted pennies directly from the mint.

Importantly, not all blue discoloration adds value. Many chemically altered coins are considered damaged by serious collectors.

The truly valuable blue pennies are either those resulting from specific mint errors, those with naturally occurring toning highly prized by collectors, or those with historical significance that explains their unusual appearance.

Now let’s delve into the six most sought-after blue penny varieties.

1. The 1943 “Blue Steel” Lincoln Cent

Though not technically blue as copper that’s blue-toned, the 1943 steel cent—a penny popularly known as the “Blue Steel Penny” merits discussion as the most popular “blue” penny in American coin collecting.

During World War II, copper was reallocated to the war effort, causing the U.S. Mint to mint pennies out of zinc-coated steel for that one year. Those coins have a silvery-blue color that makes them stand out from the typical copper cents.

When initially issued, most Americans were perplexed by these peculiar blue-silver pennies and even suspected they were counterfeit. Currently, circulated specimens in decent condition usually retail between $0.50 and $2.00, but uncirculated specimens with intact original luster can command prices between $50 and $200.

What makes them so valuable are condition rarities—specimens somehow having made it through in almost perfect condition. A perfect 1943 steel cent graded MS-68 by PCGS realized a stunning $7,050 at auction in 2021, showing the premium that condition can add to even a fairly common coin.

Interestingly, the actual 1943 rarities are the copper pennies—errors that were made when some copper planchets from 1942 ended up in the presses by accident. These ultra-rare 1943 copper cents (which are not blue whatsoever) may fetch hundreds of thousands of dollars.

2. The “Cobalt Toned” Indian Head Penny

Among the most sought-after blue pennies are some Indian Head cents (1859-1909) that have acquired outstanding natural blue toning over decades. The most valuable of these display a bright cobalt blue patina that can cover parts or even the entire coin.

These natural blue-toned Indian Head pennies are especially desirable when the toning is pleasing, stable (not actively corroding), and harmonious with the coin’s design. Though artificial toning is universally discouraged, naturally toned coins with blue coloration can be highly sought by toned coin specialists.

One extremely beautiful example of an 1899 Indian Head cent toned electric blue and magenta went for $6,600 at a 2019 auction about 660,000 times its face value. The MS-66 graded coin exhibited bright blue toning almost exclusively around the perimeter that darkened to magenta towards the interior, displaying a target-like coloration that coin collectors have called “album toning.”

These masterfully toned pieces frequently acquire their colors from many years of being held in some form of coin albums or paper sleeves containing sulfur-based compounds. With time, these substances interact with the surface of the coin to develop the beautiful rainbow colors, of which blue is especially sought after.

3. The 1944 “Experimental Blue Alloy” Lincoln Cent

With World War II coming to a close and copper more readily available for home use, the U.S. Mint experimented with different alloys to find the composition for pennies after the war. Included in these were a few dozen 1944-dated experimental cents stamped onto planchets of barely more varied metal alloys than normal bronze.

A number of these experimentals had metal alloys that made up a distinctly blue-gray visual impression. Unlike normal 1944 brass cents or the 1943 steel cent, these test samples have their own distinctive tinge that would lie between that of the other two a fine blue-bronze color marking them apart as regular issue coinage.

Records indicate less than 60 of these test pieces were made, of which perhaps only a dozen remain today. When authentic specimens are offered at auction, they usually realize $25,000 to $55,000, based on condition and provenance.

In 2018, a piece that was graded MS-64 by NGC with paperwork tracing it back to an early Mint worker brought $43,200, reflecting the rarity and historical interest in these test blue alloy cents.

4. The “Blue-Spotted” 1922 No D Lincoln Cent

The 1922 “No D” Lincoln cent is a well-known American rarity in the first place, produced when the Denver Mint punched coins without its usual “D” mintmark due to the use of a defective die. Of this scarce coin issue, experts have recognized a unique sub-variety with typical blue spotting they believe was a product of some metallurgical idiosyncrasy.

These blue-spotted 1922 No D cents usually have patches or spots of blue patina scattered over the surface of the coin. Numismatic researchers attribute this to minor variations in the metal content of some planchets during this troubled production period.

The occurrence of these blue spots is a diagnostic feature for some die states of this already scarce variety. Whereas a common 1922 No D cent can bring $500 to $1,000 in circulated grade, examples with the characteristic blue spotting can realize premiums of 30-50% over typical specimens of the same grade.

A particularly sharp example with bold blue spotting brought $7,800 in a 2020 specialty auction. The blue-spotted 1922 No D cent is an interesting crossroads of traditional numismatic scarcity and rare coloration, which makes it highly sought after by collectors of Lincoln cent varieties.

5. The “Azure Shield” 2017 Lincoln Cent Error

Of all the modern blue penny varieties, none has generated more hype than the so-called “Azure Shield” error of 2017. This stunning contemporary mistake happened when one of the zinc-core cent plating processes went awry and produced pennies wherein the reverse (tails side) shield grew a vivid azure blue discoloration.

Initially found circulating in late 2017, these mistakes have a standard copper-colored Lincoln image on the obverse but with the Union Shield on the reverse having a bright blue color that is quite a contrast to the rest of the coin.

Metallurgical analysis indicates this was caused by a rare chemical reaction during the plating process, perhaps involving cleaning agents or anti-tarnish chemicals used on the production line. What makes these mistakes so valuable is their sheer scarcity fewer than 50 authenticated specimens have been reported.

When they do come onto the market, they usually fetch between $1,500 and $5,000, depending on the vibrancy of the blue coloration and the general condition of the coin. In 2021, one particularly contrasty example graded MS-65 RD by PCGS sold for $4,700 at auction, illustrating the huge premium contemporary error collectors will pay for such dramatic aberrations.

Their relatively recent discovery and continuing rarity hint at their worth possibly continuing to appreciate as increasing numbers of collectors learn of their presence.

6. The “Sapphire Toned” 1909-S VDB Lincoln Cent

The 1909-S VDB Lincoln cent is already one of the most well-known and sought-after regular-issue American coins, with only 484,000 made before the designer’s initials (VDB) were dropped from the coin. Of these already scarce coins, a handful of examples have acquired superior natural blue toning that makes them what collectors refer to as “Sapphire Toned” 1909-S VDB cents.

These samples most commonly show intense blue toning ranging from dark sapphire to pale azure, sometimes with purplish or magenta tones at the edges. The blue most often shows up most intensely near the edge of the coin, forming a rim-like effect that calls the viewer’s eye to Lincoln’s image in the center.

While a typical uncirculated 1909-S VDB cent could fetch $2,000 to $5,000 based on condition, the ones with superior blue toning can earn premiums of 40-100% over average red or brown specimens. An exceptionally beautiful example with electric blue peripheral toning graded MS-65 BN by PCGS in 2017 brought $12,650 a huge premium over what a similar graded example lacking the toning would realize.

The interaction of inborn scarcity (as a significant date in the Lincoln cent series) and the outstanding aesthetic beauty of the natural blue toning creates these specimens, which are extremely sought after by experienced collectors.

Collecting Blue Pennies: Opportunities and Warnings

For those collectors who would like to seek out blue pennies, there are opportunities and also cautionary warnings to note:

• Authentication is important: Since artificial toning and after-market treatment can produce blue coloration, professional authentication by companies such as PCGS or NGC is necessary when buying high-grade examples. These companies can typically tell the difference between natural toning and artificial treatment.
• Condition is everything: Even within blue-toned pennies, those that have sharp definition and little wear will bring the highest premiums. A highly worn blue penny can be attractive but will often bring considerably less than a sharply defined specimen.
• Avoid faked treatments: Dishonest vendors may use chemicals or heat treatments to produce blue toning on regular pennies. These artificially colored coins usually present unnatural, too uniform coloration that does not conform to the patterns present in naturally toned specimens.
• Environmental damage isn’t valuable toning: Coins damaged by chemical or harsh environmental conditions usually develop abnormal colors, such as blues and greens, but these are damages and not collectible toning. Professional grading services will classify such coins as “environmentally damaged” instead of assigning them premium toning designations.

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The Investment Outlook for Blue Pennies – 6 Rare Blue Pennies Value

Like many numismatic specialties, blue pennies are a niche within the overall market for coin collecting. Their distinctive color and relative rarity have traditionally justified high premiums, especially for authenticated pieces with natural toning or documented mint errors. Their market has been steady and consistent for the last decade, with really excellent performance within the finest available of each variety.

Condition and authenticity, as is the case with most numismatic items, are the two major drivers of value, but added premium will come from the presence of recorded provenance where historic pieces exist. Blue pennies are for investors and collectors a fascinating amalgamation of sight appeal, interest to historians, and real scarcity that has been supportive of historically high premium prices.

Although they may not be as widely well-known as some of the other numismatic scarcities, their unique look and the interesting history surrounding their production make them intriguing additions to focused collections.

Whether you’re examining your change for modern blue penny errors or seeking historic specimens at auction, these curious coins represent some of the most visually striking and discussion-worthy pieces in American numismatics small copper discs transformed by chemistry, history, and human fascination into treasures worth many times their humble face value.

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