Most people don’t think twice about pennies. They get tossed into wallets, dropped into coin jars, or forgotten in drawers. But what if one of those everyday coins was actually worth $620,000? Believe it or not, some rare Lincoln Wheat Pennies are out there, and one could still be in circulation today!
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also called the Wheat Cent, was first introduced in 1909 to mark the 100th anniversary of Abraham Lincoln’s birth. Designed by Victor D. Brenner, it was the first U.S. coin to feature a real historical figure.
- Front (Obverse): Features Abraham Lincoln’s profile.
- Back (Reverse): Displays two wheat stalks, symbolizing prosperity and national growth.
These pennies were produced until 1958, after which the Lincoln Memorial Penny replaced them. While most Wheat Pennies are common, a few rare versions are extremely valuable due to minting errors and historical significance.
Why Is This Penny Worth $620,000?
While most Lincoln Wheat Pennies aren’t worth more than a few cents, a few rare versions have been sold for hundreds of thousands of dollars. The $620,000 penny is one of the most valuable, and here’s why:
- Minting Mistake – In 1943, pennies were supposed to be made of steel, but a few were accidentally struck on leftover bronze planchets from 1942.
- Wartime Material Change – During World War II, the U.S. Mint switched from copper to steel for pennies to conserve metal for military supplies. However, a handful of bronze pennies slipped through, making them extremely rare.
- Auction Record – One of these 1943 Bronze Pennies was sold for $620,000, making it one of the most valuable pennies ever discovered.
How to Identify a Rare 1943 Bronze Penny
If you think you might have a valuable Lincoln Wheat Penny, here’s how to check:
- Look at the Year – The most valuable pennies were minted in 1943.
- Try the Magnet Test – A 1943 Steel Penny will stick to a magnet, but a rare Bronze Penny won’t.
- Check the Color – A 1943 Bronze Penny has a reddish-brown hue, while the common steel version is silver-gray.
- Look for Mint Marks – These rare pennies were minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S). The Philadelphia version is the most valuable.
If your 1943 penny doesn’t stick to a magnet and has a copper color, you might be holding a fortune!
Could This Rare Penny Still Be in Circulation?
Surprisingly, yes! Some rare Lincoln Wheat Pennies are still out there, waiting to be discovered. Many people don’t realize their worth and unknowingly spend them like regular pennies.
Here’s where valuable pennies have been found before:
- Old piggy banks and coin jars
- Garage sales and flea markets
- Inherited coin collections
- Bank coin rolls
While finding a $620,000 penny is rare, it isn’t impossible.
Other Valuable Lincoln Wheat Pennies
Even if you don’t find the $620K penny, some other rare Wheat Pennies are worth thousands of dollars:
- 1909-S VDB Penny – One of the first Lincoln pennies ever made, valued at up to $100,000.
- 1914-D Penny – A low-mintage penny, worth over $5,000.
- 1955 Double Die Penny – A famous printing error makes the letters and numbers appear doubled, making this penny worth $1,000 or more.
What to Do If You Find a Rare Penny
If you think you’ve discovered a valuable Lincoln Wheat Penny, here’s what you should do next:
- Keep It Safe – Store it in a protective case to prevent damage.
- Compare It Online – Look up authentic rare pennies and compare them to yours.
- Test It – If it’s a 1943 Copper Penny, do the magnet test—if it doesn’t stick, it might be valuable.
- Get It Verified – Take it to a coin expert or grading service (PCGS or NGC) to confirm its authenticity.
- Consider Selling It – If it’s genuine, you can sell it through:
- Coin Auctions – Some collectors are willing to pay top dollar for rare coins.
- Reputable Coin Dealers – Some dealers specialize in buying valuable pennies.
- Online Marketplaces – Websites like eBay or numismatic forums connect collectors and sellers.
Final Thoughts
A penny worth $620,000 might sound too good to be true, but rare Lincoln Wheat Pennies do exist. While finding one isn’t easy, it’s not impossible—so next time you get a handful of pennies, take a closer look.
Who knows? You might be holding a small fortune in your hands!
Disclaimer: The values mentioned in this article are based on past auction results and collector demand. Actual values may vary due to market fluctuations. Always consult a professional numismatist for authentication before making financial decisions.
