What is a Luck Penny? Definition, Superstitions, & More (2024)

Co-authored byRaven Minyard, BAReviewed byJason Zuk

Last Updated: May 22, 2024Fact Checked

The Luck Penny Tradition

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   A luck penny is a small sum of money returned from a seller to a buyer. This old Irish tradition originated with farmers. When someone purchased a farm animal, the seller returned a small amount of money, usually a penny, to the buyer as a symbol of good luck.^[1]

   • The failure to return the luck penny to the buyer was believed to bring bad fortune to both parties, so this was a very important ritual.
   • Many claim the penny had to be spat on in order to receive its luck.^[2]
   • It was also customary for tailors to place a luck penny in each pocket of a new suit.
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   A luck penny is given to anyone entering a new phase in life. These days, the tradition has expanded to be a symbol of well wishes for friends and family. Someone might receive a luck penny when they get married, have a baby, or move to a new home. The sum of money may be more than a penny, but the gesture matters more than the value. Similar traditions are found all over the world.^[3]

   • In China, luck money in red envelopes is gifted to unmarried young people. The amount must be an even number, as odd numbers are associated with cash given at funerals.
   • In Greece, a coin is placed in the Vasilopita, or New Year’s cake, and the person who receives the slice containing the coin is said to receive good luck for the year.

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   The Lucky Irish Penny was a penny minted from 1928-1968. Different from the general luck penny, the Lucky Irish Penny was an actual penny designed by a committee led by Irish poet William Butler Yeats. One side featured an Irish harp while the other displayed a hen and chicks to represent Ireland’s history of agriculture. The inscriptions were in Gaelic, Ireland’s native language.^[4]

   See Also

   National Lucky Penny Day

   • The Lucky Irish Penny is widely considered to be good luck and carried by many people around the world.

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   Pick up a heads-up penny to bring good luck. While beliefs vary about which side of the penny is good luck, most believe you’ll receive good fortune if you pick up a penny with the heads side facing up. If the tails side is up, it’ll bring bad luck. However, you can flip the coin so that heads is up so the next person can receive the good luck.^[5]

   • This superstition is so common there’s even a rhyme about it: “Find a penny, pick it up. All day long you’ll have good luck.” The rhyme may have evolved from a pagan ritual in which pins were considered good luck.^[6]
   • Some believe you should pass the penny along to someone else later that day to ensure your good luck.
   • The lucky side of the penny varies depending on your culture. Some believe the heads side represents a powerful figure or deity, so that side evokes their favor. Others believe the tails side represents the physical realm and the material world, so it brings abundance.^[7]
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   There are many other ways pennies can bring good luck. While picking up a penny is one of the most common superstitions, many believe these coins can also bring money and safety. Here are some other ways pennies might bring good luck:^[8]

   • In addition to being lucky, finding a penny can bring you money.
   • Keep a jar of pennies in your kitchen to bring luck and wealth.
   • If you’re traveling at sea, toss a penny overboard for a safe trip.
   • Throw a penny into a wishing well or fountain to grant your wish.
   • Put a penny in your shoe to bring good fortune.
   • If the coin has a hole in it, it’s considered particularly lucky.
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   The lucky penny may have ancient religious origins. In the ancient world, many cultures believed metals like copper were a gift from the gods. Therefore, if you passed a metal coin and didn’t pick it up, you’d forfeit any luck or wealth that might come your way. Additionally, many believed these metals could protect from evil, so keeping one on your person could help ward off any negativity.^[9]

   • The ancient Greeks and Romans believed tossing a coin could reveal the will of the gods. This may be why we use a coin toss to make decisions today.

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1. Some rare pennies are worth upwards of $1000. What could be more lucky than finding a valuable penny? Some pennies have extremely high value based on their minting year, rarity, condition, and production errors, and some are even worth up to $85,000. Here are some highly sought-after pennies worth way more than their face value:^[10]

   • 1943 copper penny: Most 1943 pennies were made of zinc-coated steel, but some copper versions were mistakenly printed. These are extremely rare and worth up to $85,000.
   • 1955 double-die penny: These pennies feature doubled text and, depending on their condition, can sell for over $1000. The double-die penny only occurred with the 1955 Philadelphia, so if you see a “D” (Denver) or “S” (San Francisco) mintmark, you don’t have the famous penny.
   • 1969-S double-die penny: This penny is one of the most valuable Lincoln Memorial pennies printed between 1959 and 2008. It features doubled text and is worth up to $25,000.
   • 1983-D copper penny: All 1983 pennies were supposed to be made from copper-plated zinc, but some were made with the earlier copper composition. These are valued at around $15,000.

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