For example, the 1938-D penny with a steel cent error is worth around $100,000. This error occurred when a steel planchet was accidentally used to strike a penny, instead of the usual copper planchet.
Other varieties of the 1938 penny that can be worth more than the typical $0.05 to $0.10 include:
* The 1938-S penny, which was minted at the San Francisco Mint and has a distinctive "S" mint mark on the reverse.
* The 1938-D penny with a double die error, which occurs when the die used to strike the coin is slightly misaligned, resulting in a doubled impression of the design.
* The 1938-D penny with a repunched mint mark, which occurs when the mint mark is stamped twice, resulting in a slightly raised or off-center mint mark.
If you have a 1938 penny that you believe may be valuable, it is a good idea to have it appraised by a professional coin dealer or numismatist to determine its exact value.