Your Lincoln penny could be worth between $300 and $2,115 - the exact 'mint mark' and spacing determines the reward

A SPECIFIC type of Lincoln penny has been discovered to be worth up to $2,115.

The exact pennies have such high values in coin collector markets because of a specific mint mark and spacing.

TikToker Eric Miller, otherwise known as TheCoinChannel, has acquired 4million followers who know him for his expertise on valuable and rare coins that make hefty profits.

He took to the platform to share with his audience specific rare Lincoln pennies that have a selling price anywhere between $300 and $2,115.

Generally, pennies with this trait sell for $20 to $1,000: they are called “wide AM” and “close AM” pennies.

What does that mean? Essentially, it refers to the distance between the A and M in "America" on the coin’s surface.

A coin with a normal distance apart between the A and M are called “wide AM,” but if your A and M look like they could almost be touching, that’s a close AM.

WHAT TO LOOK OUT FOR

To find the most valuable pennies of the bunch, you should first take note of the year in which your penny was made.

1992 could be the magic number.

When it comes to the mint mark, otherwise known as the symbol indicating where a coin was produced, you will be looking for “D.” This increases the value already.

"D" means it was minted in Denver.

If this all fits, you should turn your coin over and look at the A and M in "America."

These letters should be touching if you have one of the coveted coins.

Then on the FG in the middle of the coin, look for it to go straight up from the drawn building.

There should be no curve to be found.

If this fits your coin, it’s time to celebrate because they can bring in quite a profit.

Depending on the coin’s grade, which signifies the coin’s condition, you could churn out up to $1,700.

A coin with a grade of MS61 sold for $1,703.75 just because of these special traits, according to Professional Coin Grading Service (PCGS).

That’s not all though: If you have the D mint mark for the same coin, it could sell for even more, as one did for $2,115.

The specific coin in question had a grade of MS63.

So even while the mint luster could be slightly damaged, the traits are unique enough to warrant a high price.

The coins that make this much money tend to be uncirculated and undamaged.

However, even if you’re only able to find a coin of this kind that’s been circulated, you could make a profit of $300, Eric said.

LATER VALUABLE PENNIES

You can also make a significant profit by looking through your 1998, 1999 and 2000 pennies.

“In all three of these, you’re looking for the same error, but they have way different values,” Eric said.

But, concerning their similarities, you need to look at both the “AM” and the “FG” on the back of the coin.

In these years in particular, look for the space between the A and M, Eric said, as these are wide AM pennies.

On the FG, you are looking for the FG to not have a straight line this time. If you have the right coin, you are actually looking for a curve.

A coin of this nature from 1998 is worth around $25, Eric said, according to recently listed sale prices.

However, in nice condition, ungraded, they’ve been known to sell for $55, as seen on eBay.

However, if you have the 1999 version of the same coin, you’re in luck.

These tend to sell for between $300 and $550.

One with a higher grade sold for $365, Eric said.

No matter your profit, it’s worth it since many of these pennies can be found lying around in your pocket change.

One of the highest graded 1999 wide AM pennies sold for a total of $763.75. That was with a grade of MS67RD.

The 2000 wide AM pennies are worth around $20 on the other hand.

In higher grades, that price could go as high as $75, according to listed prices on eBay.

Overall, there are several pennies that might not look too unusual on the surface but could make you quite a bit richer.

HOW ARE COIN VALUES DETERMINED

Most of the time, a coin’s high value comes down to its errors.

Errors happen when the mint incorrectly manufactures a coin, leading to elements that are not supposed to be included.

However, experts determine a coin's value based on a variety of factors.

This includes mintage, errors, demand, age, design and condition.

More importantly, coins are graded on a rigid scale which is what collectors will pay big bucks for.

There are five main components when it comes to a grading scale including strike, surface preservation, luster, coloration and eye appeal.

Coins are assigned a whole number between one and 70, with the highest figure being flawless.

To find out if your coins are worth anything, head to eBay, filter by "sold listings" and toggle to the highest price.

Another Lincoln penny had a price tag as high as $300, and one person found it randomly at their deceased grandmother’s property.

And keep your eyes out for a Sacagawea dollar worth more than $5,000.