Most of us don’t think twice about the pennies we get as change. They pile up in jars, get lost under car seats, or are tossed aside without a second thought. But what if I told you that one of those pennies could be worth up to $100,000?
That’s right—some rare Lincoln Wheat Pennies are still out there, hiding in plain sight. Coin collectors are always on the lookout for these valuable coins, and you might unknowingly have one in your pocket right now. Let’s break down what makes this penny so special and how to check if you have one.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 and remained in production until 1958. It was created to honor the 100th birthday of Abraham Lincoln and was the first U.S. coin to feature a real person.
How to Recognize a Lincoln Wheat Penny
- Front (Obverse): Features Abraham Lincoln’s portrait, along with the words “In God We Trust,” “Liberty,” and the year of minting.
- Back (Reverse): Displays two wheat stalks surrounding the words “One Cent” and “United States of America.”
This design was replaced in 1959 by the Lincoln Memorial Penny, but many older Wheat Pennies are still in circulation today. While most are only worth a cent, a few rare ones have sold for over $100,000.
Why Is This Penny Worth $100,000?
Not every Lincoln Wheat Penny is valuable, but certain rare versions have become incredibly sought-after by collectors. Here are some of the most valuable ones:
1. 1943 Copper Lincoln Penny
In 1943, due to World War II metal shortages, pennies were supposed to be made of steel instead of copper. However, a small number of pennies were accidentally struck in copper, making them extremely rare.
Estimated Value: Over $100,000 (some have sold for much more).
2. 1955 Double Die Lincoln Penny
This penny has a noticeable doubling effect on the date and lettering, caused by a misalignment during the minting process. The result? A highly prized collector’s item.
Estimated Value: Can be worth thousands of dollars, depending on condition.
3. 1944 Steel Lincoln Penny
Most 1944 pennies were made from copper, but a few were mistakenly struck in steel. These are incredibly rare and highly valuable.
Estimated Value: Tens of thousands of dollars.
How to Identify a Valuable Lincoln Wheat Penny
Think you might have a rare penny? Here’s how to check:
1. Check the Date and Material
- If your 1943 penny is made of copper instead of steel, it’s extremely rare.
- Use a magnet to test it—steel pennies will stick, but copper ones won’t.
2. Look for the Double Die Error
- Check for blurred or doubled numbers and letters on the coin.
- If the date or text appears doubled, you might have a valuable error coin.
3. Check the Mint Mark
- Some pennies with an “S” (San Francisco) or “D” (Denver) mint mark can be more valuable than those without.
- The 1909-S VDB Lincoln Penny, for example, is a collector’s dream and can sell for over $100,000.
Where to Sell a Rare Lincoln Wheat Penny
If you believe you’ve found a valuable Lincoln Wheat Penny, don’t rush to sell it just yet! Follow these steps:
1. Get It Professionally Appraised
- Take your coin to a professional coin dealer or numismatist to confirm its authenticity and value.
- Services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can officially grade it.
2. Sell It at a Reputable Auction House
- Heritage Auctions and Stack’s Bowers specialize in rare coins and can help you get the best price.
3. Be Cautious with Online Marketplaces
- Sites like eBay and CoinTrackers allow people to buy and sell rare coins, but watch out for scams.
- Always work with verified buyers and use secure payment methods.
Could You Have a $100K Penny?
The idea that a penny could be worth $100,000 might sound unbelievable, but it’s true! Rare Lincoln Wheat Pennies are still out there, and most people don’t take the time to check their change carefully.
How to Increase Your Chances of Finding One:
- Go through old coin jars, piggy banks, and loose change.
- Check penny rolls from banks—some collectors search through them for valuable finds.
- Look at inherited coin collections—family members may have kept old pennies without knowing their worth.
- Visit flea markets, estate sales, and garage sales—you never know what might turn up.
Final Thoughts
The Lincoln Wheat Penny isn’t just a piece of history—it could be a hidden treasure. While most pennies are just worth a cent, rare versions like the 1943 Copper Penny or 1955 Double Die Penny can be worth thousands or even $100,000.
So next time you get some change, take a closer look—you might just be holding a fortune in your hands without even realizing it!
Disclaimer: Coin values fluctuate over time. While some rare Lincoln Wheat Pennies have sold for six figures, actual prices depend on market demand. Always consult a professional coin expert before making any financial decisions.
