Pennies worth thousands of dollars

Lincoln copper single cent coins are popular with coin collectors. The coin was originally issued in 1909 to celebrate what would have been the 100th birthday of the 16th president of the United States.

A rare Lincoln penny, with special features, sold for $60,000 this year, according to Heritage Auctions.

The coin, which began circulating in 1909, is especially valuable due to its red color. It was designed by Victor David Brenner and features the initials VDB on the coin.

These initials are often the hallmark of a valuable coin. While typical Lincoln pennies from this era are red and brown, or sometimes completely brown, this penny is completely red, one of the hardest to find.

This is how the value of a bill or coin is determined

According to US First Exchange, there are four types of value: list value, purchase price, retail or retail value, and wholesale value.

The list value is the average price that most dealers would sell a coin or note for. The purchase price is what a merchant would be willing to pay. Retail value is the price for which a specific dealer would be willing to sell you a coin or note. The wholesale value is the