Why Were 10,000,000 Lincoln Cents Distributed in Cheerios Boxes?
In 2000, the United States Mint launched an ambitious promotional campaign. The Mint partnered with cereal maker General Mills to celebrate the new millennium and introduce the new Sacagawea dollar.
The collaboration placed 10 million 2000 Lincoln cents and 5,500 Sacagawea golden dollars inside boxes of Cheerios cereal. The campaign reached millions of American households and created one of the most unusual coin promotions in modern numismatic history.
Today, collectors know these coins as the “Cheerios cents.”
The Cheerios Coin Promotion
The promotion formed part of a large national marketing effort. The U.S. Mint invested millions in advertising and outreach to generate excitement around the new millennium coinage.
As part of the program, the Mint delivered coins directly to General Mills for packaging.
Each specially marked Cheerios box included:
- One 2000 Lincoln cent, promoted as one of the “First Pennies of the New Millennium.”
- Every 2,000th box contained both a Lincoln cent and a Sacagawea dollar.
- Every 4,400th box included a certificate redeemable for $100 paid in Sacagawea dollars.
However, the most desirable prize turned out to be the Sacagawea dollar itself. Some of these coins later revealed a rare die variety known today as the “Cheerios Dollar.”
How the Cheerios Cents Were Packaged
General Mills sealed each Lincoln cent inside a clear plastic blister pack attached to a black cardboard display card.
The card featured:
- Images of Lincoln cents
- Images of Sacagawea dollars
- The date 2000
Interestingly, every cent used in the promotion came from the Philadelphia Mint, which means the coins carry no mintmark.
However, the illustrations printed on the card display “S” mintmark coins struck at San Francisco.
This small detail continues to intrigue collectors.
Are Cheerios Cents Actually Different?
Most Cheerios cents are ordinary 2000 Lincoln cents from Philadelphia. The coin itself shows no unique minting characteristics.
Instead, the original packaging creates the collectible value.
Major grading services treat them accordingly:
- Numismatic Guaranty Company (NGC) labels them “Cheerios Promotion.”
- Professional Coin Grading Service (PCGS) recognizes them as a minor variety.
However, the coin must remain sealed in the original packaging to qualify for that special designation.
Collectors typically value a 2000 Cheerios Cent in original packaging at around $10.
Some Cheerios Cents Are More Valuable
A small number of these coins show an important variety.
According to numismatic writer Richard Giedroyc, roughly 1 million coins (about 10%) of the Cheerios cents display the Wide AM Reverse.
On this variety:
- The letters A and M in AMERICA appear farther apart than usual.
- The reverse die matches the Proof coin design.
This discovery means the Mint struck some circulation coins using proof reverse dies.
However, identifying this variety requires removing the coin from its packaging. Once removed, the coin loses eligibility for the “Cheerios Promotion” label from grading companies.
Collectors still seek these coins. A 2000 Wide AM Lincoln cent often sells for $30 or more, depending on condition.
Top-Grade Cheerios Cents Can Be Worth Thousands
Coin grading plays a major role in value.
Professional grading services evaluate coins on a 70-point scale:
- MS60–MS70 represents uncirculated coins.
- Higher numbers indicate better preservation.
Most freshly minted coins receive small marks during production. The press ejects them into large bags filled with other coins. Constant contact creates scratches and minor imperfections.
Yet a few coins escape this damage.
Collectors call these coins Superb Gems, typically graded MS67 or higher.
The finest certified Cheerios cents reach extraordinary levels:
- NGC MS69RD
- PCGS MS68RD
At their peak, top-grade examples brought impressive prices.
In 2019, coins graded MS68RD sold for $3,500 to $3,725 at auction.
Prices have declined somewhat since then, but high-grade examples still command strong premiums.
Market Data and Noteworthy Specimens
Population data illustrates how rare the highest grades remain.
Top population reports (May 2025):
- PCGS MS68RD: 11 examples
- NGC MS69RD: 3 examples
- CAC MS67RD: 7 examples
Notable Auction Results
- NGC MS69RD #6681409-007
Heritage Auctions, May 9, 2024 — $1,440
Die line across upper obverse from rim below I in IN to rim at Y of LIBERTY. Light spotting. - PCGS MS68RD #43772751
Stack’s Bowers, March 27, 2024 — $1,560 - PCGS MS68RD #37973035
Stack’s Bowers, May 23, 2019 — $3,600
Design of the 2000 Lincoln Cent
Obverse Design
Sculptor Victor David Brenner created the original Lincoln cent design in 1909.
The obverse shows Abraham Lincoln facing right. Brenner based the portrait on Lincoln during his presidency in the American Civil War (1861–1865).
Key elements include:
- Date: 2000
- LIBERTY: Behind Lincoln’s head
- IN GOD WE TRUST: Arcing above the portrait
Brenner’s small initials VDB appear beneath Lincoln’s shoulder.
Because the coin was struck in Philadelphia, it carries no mintmark.
Reverse Design
The reverse shows the Lincoln Memorial in Washington, D.C.
Designer Frank Gasparro created this design in 1959.
The detailed engraving even reveals a tiny seated Lincoln statue inside the memorial. The real statue inside the monument stands 19 feet tall.
Additional inscriptions include:
- UNITED STATES OF AMERICA along the top rim
- E PLURIBUS UNUM beneath the legend
- ONE CENT below the memorial
Gasparro’s initials FG appear at the lower right of the memorial.
Edge
The edge of the 2000 Cheerios Lincoln cent is plain and smooth, with no reeding, like all Lincoln cents.
Coin Specifications
- Country: United States
- Year: 2000
- Denomination: One Cent
- Mint: Philadelphia (no mintmark)
- Mintage: (Promotion) 10,000,000
- Total 2000 Cent Mintage: 5,503,200,000
- Alloy: 95% copper, 5% tin and zinc
- Weight: 2.50 grams
- Diameter: 19.05 mm
- Edge: Plain
- Obverse Designer: Victor David Brenner
- Reverse Designer: Frank Gasparro
- Strike Type: Business Strike
Why the Cheerios Cent Still Fascinates Collectors
The Cheerios promotion blended marketing, pop culture, and coin collecting. Millions of Americans discovered a coin inside their breakfast cereal.
Most examples remain common. However, several factors keep collectors interested:
- Original packaging creates a collectible version.
- The Wide AM variety adds an unexpected die variety.
- Superb Gem coins achieve impressive auction prices.
As a result, the 2000 Cheerios Lincoln cent stands as one of the most memorable promotions in modern U.S. numismatics.
I have a 1 penny, year 2000 in it’s original unopened from cheerios. How do I find out how much it’s worth?
I have an unopened Cherrios penny with what appears to be a Liberty bell over the 2000 date.
Can’t find anything referencing this.
Of course calendar experts will tell you the new millennium started on January 1, *2001* … but all those zeros changed what the public thought.
It’s been incredible watching these Cheerios Cents increase in popularity and price over the years not to mention the wide AM reverse discovery
Well I hope the market improves for this penny. I have one still in package however I can’t find the real price as one site says 35 cents and another says over a thousand dollars. I guess it depends on which app you trust.
Great article, I didn’t know much about this Cheerio’s coins but this filled in the blanks.
Like
I definitely don’t have this coin. If it were Fruit Loops or Lucky Charms, now we’re talking.
Cheeri – Cheeri – CheeriOh, look a penny!
I have one in original package….tempting to break it out…lol
What a great idea, wish I had found one
Informative article – thank you.
Such a great story.
I have 1 Cheerios penny still in original packaging, and one not so I can’t confirm authenticity on it. Interesting collaboration by General Mills and the U.S. Mint, wished I’d have paid more attention to the promo back then.
Curious: I noticed the images of the coin that sold via Stack’s Bowers has the reverse design reversed. ??? Is that the real image of the reverse or was the image flipped before being added to the article??
This is the kind of “Toy At The Bottom” prize that is truly cool!!
I remember staying up and lighting fireworks off at midnight with my kids and some of there friends and having to go to work early the next morning to make sure the computers worked but don’t remember this promotion and we went through a lot of Cheerios back then. Strange what we remember.
Always used to enjoy the prizes found in my Cap’n Crunch when I was kid, never got any coins as I recall, not sure I would have had the wherewithall to retain it in the original packaging though if I had.
I have one of these that we found in a box of Cherios. Never sent it in for grading. About an MS63.
i was never a cheerios fan. I ate Capt Crunch. lol
I sure am not seeing the differences in th A M or double die pennies this week.
I did not even know it existed, now I want one!
Funny thing is I don’t remember that ad campaign at all.
I, too, actually have one of these. :-D
I love pennies. I love adding to my collection of pennies.
I have several still in the original packaging. Nice coin.
I still have mine I pulled from a box of Cheerios.
When these came out, I ate cheerios for at least 6 months to get the cents and I still have them. Found one in a junk box, the carboard was a little rough but the cost was cheaper than the boxes of Cheerios I bought.
I don’t know how this one escaped my Attention. ?
I wasn’t aware of the penny, the packaging requirement, but I have several Sacagawean dollars.
Interesting!
I’m still searching for that Sacagawea Cheerios coin wit the tail feathers and the speared version . No luck yet but I continue to hunt . As far as the 1998,99,and 2000 wide am cents that hunt also continues along with the 1992 close am cents. I heard there is a 1996 wide am is this true?
My search for the speared Sacagawea continues along with the 1998,99 and 2000 wide am . I heard there was a 1996 wide am is this correct.? I also continue to search for the elusive 1992 close am . Anyone out there have one ? My email is [email protected]
Good article
Still searching for that Sacagawea. Some day ,some day !!
never new eating cereal could be so much fun.
I don’t think I’d pay a premium for one of these.
If I was into coin collecting back then I would have spent some time looking for the dollar.
These Comments are really very informative and some are useful in a variety of ways, while still others are quite cleverly humorous! I read every single one up to this point!
I wish I would have grabbed one of these. You never know when something like this will prove valuable.
I know it would be great to own one of these penny’s in its original packing. however, my “Elenor, or unicorn” has turned out to be the cherios Sacagawe Dollar. I have been looking for many years now with no luck.
Very interesting article.
I Need to get one for my collection
I have 4 in original packing, Definitely need to get certified.
Never truly know the value of a coin!
I wish I had been more of a cereal eater. I hate wasting food so never bought the box but I should have. I will be looking for one in the original wrapper. I think breaking it out for grading takes the curiosity out of collecting the coin. It should stay in its original packaging.
Groan. I had many, and threw away the packaging. Oh, the humanity.
I want to find a wide am on these and get it graded.
Need to check my Cheerios penny!