Most people don’t give pennies a second thought. They’re tossed into change jars, lost in couch cushions, or handed over without a glance. But what if one of those pennies was worth an incredible $3.2 million?
Believe it or not, some rare Lincoln Wheat Pennies are still in circulation, meaning someone out there could be carrying around a fortune without even knowing it.
Let’s take a closer look at what makes this penny so valuable, how to identify it, and what to do if you think you’ve found one.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 to celebrate the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person, replacing the traditional Lady Liberty designs.
Designed by Victor David Brenner, the coin includes:
- Front (Obverse): A portrait of Lincoln with the words “In God We Trust,” “Liberty,” and the year of minting.
- Back (Reverse): Two wheat stalks, giving it the nickname “Wheat Penny.”
The design remained until 1958, when it was replaced by the Lincoln Memorial Penny. Most Lincoln Wheat Pennies are worth just a few cents, but a rare few have become some of the most valuable coins in U.S. history.
Why Is This Lincoln Wheat Penny Worth $3.2 Million?
Not all Lincoln Wheat Pennies are valuable, but a few rare variations have sold for millions. The $3.2 million Wheat Penny is one of the rarest and most legendary of them all:
The 1943 Copper Penny – A Minting Mistake That Made History
During World War II, the U.S. Mint switched from copper to steel pennies to conserve copper for war supplies. However, a few pennies were accidentally struck on leftover copper planchets from 1942.
This mistake led to the creation of the ultra-rare 1943 Copper Lincoln Wheat Penny—one of the most valuable coins ever produced.
- Only a handful exist—experts estimate fewer than 20 were ever made.
- Collectors are willing to pay millions for one in pristine condition.
- The highest recorded sale was $3.2 million, making it one of the most expensive pennies in the world.
How to Identify a Rare 1943 Copper Lincoln Wheat Penny
Think you might have a $3.2 million penny? Here’s how to check:
1. Check the Date and Color
- Most 1943 pennies were made of steel, giving them a silver-like appearance.
- The rare 1943 Copper Penny is reddish-brown, just like older pennies.
2. Perform the Magnet Test
- A steel penny will stick to a magnet because of its iron content.
- A rare copper penny will NOT stick—if yours doesn’t, you may have something valuable.
3. Weigh the Penny
- A steel penny weighs 2.7 grams.
- A copper penny weighs 3.11 grams.
- If your 1943 penny weighs 3.11 grams and doesn’t stick to a magnet, you might have one of the rarest pennies ever made.
4. Look for Mint Marks
- Pennies from 1943 may have no mint mark (Philadelphia), an “S” (San Francisco), or a “D” (Denver).
- All three versions exist in copper, but they’re incredibly rare.
What to Do If You Find One?
If you think you’ve found a rare Lincoln Wheat Penny, don’t rush to sell it just yet. Here’s what to do next:
1. Do NOT Clean the Coin
- Cleaning a rare coin can ruin its surface and lower its value.
- Even if it looks dirty, leave it as is.
2. Get It Professionally Verified
- Take it to a professional coin dealer or numismatist for authentication.
- Use a professional grading service like:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Corporation)
3. Sell It the Right Way
- Rare coins fetch the highest prices at major auctions. Consider selling through:
- Heritage Auctions
- Stack’s Bowers
- Certified rare coin dealers
- Avoid quick cash offers from unknown buyers—always work with a reputable source.
Other Valuable Lincoln Wheat Pennies
While the 1943 Copper Penny is the most famous, other rare Wheat Pennies can also be worth thousands:
1. 1909-S VDB Lincoln Penny – Worth up to $50,000
- One of the first Lincoln Wheat Pennies, minted in San Francisco.
- Features the designer’s initials “VDB” on the back.
- A limited number were produced, making it highly collectible.
2. 1914-D Lincoln Penny – Worth $5,000 to $30,000
- Minted in Denver (“D” mint mark).
- Less than 1.2 million were made, making it rare.
3. 1922 No D Lincoln Penny – Worth Over $10,000
- A minting error caused some pennies to be struck without the “D” mint mark.
- Because of this mistake, they have become highly valuable collector’s items.
4. 1955 Doubled Die Lincoln Penny – Worth $1,500 to $10,000
- A printing error created a doubled image on the date and lettering.
- One of the most famous error coins in U.S. history.
Are These Rare Pennies Still in Circulation?
Yes, it’s possible! Though extremely rare, some valuable Lincoln Wheat Pennies have been found in everyday places:
1. Loose change from stores
2. Coin jars and piggy banks
3. Rolls of pennies from banks
4. Garage sales, flea markets, and estate sales
People have accidentally spent rare pennies worth thousands of dollars, only to realize their mistake years later.
Final Thoughts
The 1943 Copper Lincoln Wheat Penny is one of the rarest and most valuable coins ever, selling for as much as $3.2 million. While the odds of finding one are slim, they aren’t impossible.
So, next time you go through your loose change, take an extra second to check—you might just be holding a life-changing treasure without even realizing it.
Disclaimer: The values mentioned for rare coins, including the Lincoln Wheat Penny, may fluctuate over time. Always consult a professional numismatist before making financial decisions related to rare coins.