Michigan Treasure Hunt: This Penny Might Be Worth $60K

It's hard to believe that something weighing just 2.5 grams sold for $60,000 this decade, but my fellow Michigander, it's true. Pennies are circulating throughout the country, and perhaps right here in the Mitten State, and they could result in a life-changing payday for the person lucky enough to pay attention to their change. Who does that?

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According to GoBankingRates.com, coins are sitting in jars, pockets, car consoles, or even in one of the "Need a Penny, Take a Penny" trays at convenience stores that could buy an SUV or pay off your student loan. What's so special about these pennies?

What Makes a Penny Worth a Down Payment on a House?

It's all about the details. Over one hundred years ago, in 1909, the first year the Lincoln penny was minted, some special editions were emblazoned with the initials coins designer Victor David Brenner, "V.D.B." on the reverse (tails) side. Think of VDB as the Mick Jagger of the coin-collecting world; he's a pretty big deal, and pennies with his initials are like the Mercedes logo of pennies—an instant value boost.

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These pennies are also easier to spot because they aren't the typical dingy copper color of most cent pieces. Instead, they are what is described as a "radiant red."

Michigan's Connection to This Tiny Treasure Hunt

So, with an estimated quarter trillion US pennies in circulation (roughly 700 per citizen), there's no telling where these rare coins might turn up. I mean, when was the last time you even looked at your change other than to count it out at the checkout?

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You could find one at a gas station in a gas station, in a dusty junk drawer, or in the cushions of your couch. For all you know, it's sitting in your car's cup holder under a cold cup of coffee.

How to Spot a Fortune in Your Pocket

No doubt you've dug into your pocket to check so here's what you need to look for to cash in on your change:

1. Check if your penny was minted in 1909
2. Look for "V.D.B." on the bottom of the penny's reverse reverse (tails) side
3. Check the color—a brilliant red is what you're looking for
4. Start digging through all of your spare change

The bottom line for Michiganders is to stop rolling your eyes at the three-quarter-inch diameter coin that is the penny. It might be small, but if you find the right one, it will quickly change your bank balance.