Most people don’t think twice about pennies. They sit in coin jars, get tossed into tip jars, or disappear into couch cushions. But what if one of those pennies was worth $170 million?
That’s the incredible story of the Lincoln Wheat Penny, a rare and highly valuable coin that has captured the attention of collectors worldwide. And the craziest part? Some believe this penny is still in circulation—meaning someone, somewhere, could unknowingly have a life-changing fortune sitting in their pocket right now.
So, what makes this penny so special, and how can you tell if you have one? Let’s break it down.
The History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first minted in 1909 to celebrate the 100th birthday of President Abraham Lincoln. Designed by Victor David Brenner, it was the first U.S. coin to feature a real person, replacing the traditional Lady Liberty designs.
- Front (Obverse): Features Abraham Lincoln’s profile.
- Back (Reverse): Displays two wheat stalks, symbolizing prosperity and national strength—hence the nickname “Wheat Penny.”
This design remained in circulation until 1958, when it was replaced by the Lincoln Memorial Penny. While most of these pennies are only worth their face value, certain rare editions have become some of the most valuable coins in history.
Why Is This Penny Worth $170 Million?
Not every Lincoln Wheat Penny is worth a fortune, but one specific version has collectors willing to pay an astronomical amount. The $170 million Lincoln Wheat Penny is rumored to be a 1943 Copper Penny, one of the rarest coins ever made.
Here’s what makes this coin so valuable:
1. A Rare Minting Mistake
In 1943, the U.S. Mint switched from copper to steel pennies to conserve copper for military supplies during World War II. However, a few pennies were mistakenly struck in copper, making them extremely rare.
2. Extremely Limited Number
It is believed that only a handful of these 1943 Copper Pennies exist, making them one of the rarest coins ever produced.
3. High Demand from Collectors
Because of their rarity and historical significance, wealthy collectors and museums are willing to pay millions to own one. If a truly one-of-a-kind version of this penny were discovered, its value could skyrocket—which is why some believe it could be worth up to $170 million.
Could This Penny Still Be in Circulation?
Surprisingly, yes! Many rare coins end up in circulation because people don’t realize their value. Over the years, valuable coins have been:
- Spent unknowingly
- Mixed in with ordinary change
- Stored away in old piggy banks or jars
That means there is still a chance that a rare Lincoln Wheat Penny could show up in everyday transactions.
How to Identify a Rare Lincoln Wheat Penny
Think you might have found a valuable Wheat Penny? Here’s how to check:
1. Look at the Date
- The most valuable Lincoln Wheat Pennies include:
- 1943 Copper Penny – Almost all 1943 pennies were made of steel, so a copper one is extremely rare.
- 1909-S VDB Penny – The first-ever Lincoln Penny with Victor David Brenner’s initials (VDB) is also worth a fortune.
2. Test It With a Magnet
- Most 1943 pennies were made of steel, meaning they will stick to a magnet.
- If your 1943 penny does not stick, it could be a rare copper version worth millions.
3. Check the Color
- Steel pennies are silver-gray and can sometimes show signs of rust.
- Copper pennies have a brownish-copper appearance—just like pennies from earlier years.
4. Look for Minting Errors
- Coins with double stamps, missing letters, or off-center prints can be much more valuable than standard coins.
Other Valuable Lincoln Wheat Pennies
Even if you don’t find a $170 million penny, there are still other rare and valuable Lincoln Wheat Pennies worth checking for:
- 1909-S VDB Penny – The first year of production, with the designer’s initials (VDB), is highly valuable and has sold for over $100,000.
- 1944 Steel Penny – Another minting error where steel was mistakenly used instead of bronze. These are worth over $100,000.
- 1955 Double Die Penny – This coin has a misprint that makes the letters and numbers appear doubled, making it highly collectible. It can sell for tens of thousands of dollars.
What to Do If You Think You Found a Rare Penny
If you come across a Lincoln Wheat Penny that looks different from the rest, follow these steps:
- Don’t Clean It! – Cleaning a rare coin can lower its value significantly.
- Use the Magnet Test – If your 1943 penny does not stick, it could be a rare copper version.
- Get It Verified – A professional numismatist, coin dealer, or grading service like PCGS or NGC can authenticate it.
- Sell It at an Auction – If you have the real deal, you could sell it for millions at a major coin auction house.
Final Thoughts
The idea that a simple penny could be worth $170 million is almost unbelievable, but rare Lincoln Wheat Pennies have been known to fetch astronomical prices.
So, next time you come across an old penny, don’t ignore it—take a closer look. You never know, you might just be holding one of the most valuable coins in history.
Disclaimer: The prices mentioned for rare coins, including the Lincoln Wheat Penny, are not guaranteed and may not be entirely accurate due to market fluctuations and varying appraisals.
