The value of old pennies can be determined by auction houses, collector organizations and coin dealers. The value varies based upon the type of penny, its condition, the year and place of its minting, and its overall rarity. Some organizations use coin-grading services to authenticate and value coins.
Valuable old pennies include the half cent, the American large cent, the flying eagle penny, the Indian penny and the Lincoln wheat penny. Coin collectors grade coins on a scale of good, fine and extra fine. The cost to value an old penny can range from $14 for five coins to $55 for a single coin.