Fact Check: Are VDB pennies worth anything?

Are VDB Pennies Worth Anything?

The claim regarding the value of VDB pennies, particularly the 2023 variety, has garnered attention among coin collectors and enthusiasts. The question arises: are these coins worth anything beyond their face value? This article will explore the current market for VDB pennies, especially focusing on the 2023 edition, and evaluate the evidence surrounding their worth.

What We Know

VDB Pennies: The term "VDB" refers to the initials of designer Victor David Brenner, which are inscribed on the reverse of certain Lincoln pennies. The 2023 VDB pennies have been noted for an error where an extra "V" appears next to the initials, leading to increased interest and speculation about their value.
Market Values: According to various sources, the value of 2023 VDB pennies can vary significantly based on their condition and any errors present. For instance, uncirculated 2023-D pennies are reported to be worth between 10 to 30 cents, while the 2023-S proof penny can fetch between $5 and $7 depending on preservation 1 5.
Error Coins: The presence of the "extra V" has led to some 2023 pennies being listed for higher prices. For example, one source mentions that a 2023 penny with this error could be valued at around $75 3. Additionally, auction listings have shown prices for graded examples reaching as high as $200 8.
General Market Trends: The market for error coins, including the 2023 VDB pennies, appears to be robust, with certain varieties commanding premium prices. However, typical worn 2023 pennies are generally worth only their face value 5.

Analysis

The evidence regarding the value of 2023 VDB pennies presents a mixed picture, with some sources indicating significant potential worth while others caution that many coins may not exceed their face value.

Source Reliability: The sources cited range from dedicated coin valuation websites to auction platforms. For example, the Professional Coin Grading Service (PCGS) is a reputable organization in the numismatic community, providing graded examples and market insights 6 8. However, some sources, such as eBay listings, may be less reliable due to the variability in seller credibility and market fluctuations 7.
Market Dynamics: The prices reported for error coins can be influenced by various factors, including collector demand, the rarity of the error, and the overall health of the coin market. The presence of an "extra V" has been highlighted as a unique feature that could enhance value, but the actual market performance can vary widely based on how many such coins are in circulation and how collectors perceive their rarity 2 4.
Potential Conflicts of Interest: Some sources may have a vested interest in promoting the value of these coins, particularly those that sell coins or offer grading services. This could lead to inflated valuations that do not reflect the true market conditions.
Methodological Concerns: The valuation of coins often relies on subjective assessments of condition and rarity. Without standardized grading practices, the reported values can be inconsistent. Additional information regarding the number of coins minted, the specific nature of the errors, and collector sentiment would provide a clearer picture of their worth.

Conclusion

Verdict: Partially True

The claim that 2023 VDB pennies may hold value beyond their face value is partially true. Evidence suggests that while certain varieties, particularly those with the "extra V" error, can command higher prices—ranging from a few cents to potentially hundreds of dollars—many typical 2023 pennies are likely to be worth only their face value.

However, the market for these coins is influenced by various factors, including collector demand and the rarity of the error, which introduces uncertainty in valuation. Additionally, the reliability of sources can vary, and some may have conflicts of interest that could affect reported values.

It is important to note that the actual worth of these coins can fluctuate significantly based on market conditions and collector interest. As such, readers should approach claims about coin values with caution and consider the limitations of the available evidence.

In conclusion, while there is potential for value in certain 2023 VDB pennies, it is essential for readers to critically evaluate information and seek multiple sources before making any assumptions about their worth.

Sources

2023 Penny Coin Value (Errors List, "D", "S" & No Mint Mark Worth) - Coin Value Checker
How Much Are The 2023 Extra V Penny Error Coins Worth? - The Fun Times Guide
2023 Penny Error Values: Complete List With Pictures - Coins Value
2023 [EXTRA V] Lincoln Shield Penny Prices - PriceCharting
How Much Is A 2023 Penny Worth? Current Values - U.S. Coins Guide
2023 1C Shield, Extra "V", RD (Regular Strike) - PCGS
2023 Penny Extra V - eBay
2023 Extra "V" Lincoln Cent Penny Graded by PCGS MS65RD Rare VDB-V - PCGS
Face Value: 2023 Lincoln Cents - NGC
Newly Discovered 2023 Penny Error Is a Must Find Rarity! - YouTube