Most people don’t pay much attention to pennies. They sit in coin jars, get lost in car cup holders, or are handed over as small change without a second thought. But what if one of those pennies was actually worth $2.1 million?
That’s the case with the Lincoln Wheat Penny, a rare and highly valuable coin that some collectors believe is still out there, waiting to be discovered. Let’s take a closer look at why this penny is so special, how to identify it, and whether you might have one in your pocket.
The History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first minted in 1909 to commemorate 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 Indian Head Cent.
- The front (obverse) features Lincoln’s portrait, which remains on pennies today.
- The back (reverse) displays two wheat stalks, symbolizing prosperity and growth—hence the name “Wheat Penny.”
This design remained in circulation until 1958, when it was replaced by the Lincoln Memorial Penny. While most Wheat Pennies are only worth a few cents, some rare variations are worth thousands—or even millions—of dollars.
Why Is This Lincoln Wheat Penny Worth $2.1 Million?
Most pennies are worth only face value, but certain rare editions and minting errors have made a few of them incredibly valuable. The 1943 Bronze Lincoln Wheat Penny is one of the rarest coins ever produced and is responsible for the $2.1 million price tag.
What Makes This Penny So Valuable?
A Rare Minting Error – In 1943, the U.S. Mint switched from copper to steel pennies to conserve metal for World War II production. However, a few bronze (copper) pennies were mistakenly struck, making them extremely rare.
Limited Supply – Only a handful of these 1943 Bronze Pennies exist, making them one of the rarest coins in U.S. history.
High Collector Demand – Because of its rarity and historical significance, collectors are willing to pay millions to own one. In fact, one of these pennies sold for $2.1 million at an auction.
Could This Penny Still Be in Circulation?
The exciting part is that some experts believe a few of these rare pennies are still out there.
People have unknowingly spent valuable coins before, not realizing their worth. This means a rare Wheat Penny could be sitting in a change jar, hiding in an old piggy bank, or waiting to be found in an estate sale.
So, if you ever come across an old penny, it’s worth taking a closer look.
How to Identify a 1943 Bronze Lincoln Wheat Penny
Think you might have a valuable Wheat Penny? Here’s how to check:
1. Look at the Date
- The most valuable Wheat Penny is from 1943.
- If you have a 1943 penny, it’s time to check its material.
2. Test It With a Magnet
- Most 1943 pennies were made of steel, so they will stick to a magnet.
- If your 1943 penny does not stick, it could be a rare bronze version worth millions.
3. Check the Color
- Steel pennies are silver-gray in color and may show rust.
- Bronze pennies have a brownish-copper appearance, just like pennies from earlier years.
4. Weigh the Coin
- A regular steel 1943 penny weighs 2.7 grams.
- A bronze 1943 penny weighs 3.11 grams.
- If your 1943 penny is copper-colored and weighs 3.11 grams, you may have a fortune in your hands.
Other Valuable Lincoln Wheat Pennies
Even if you don’t find a 1943 Bronze Penny, other Lincoln Wheat Pennies are still worth thousands of dollars. Here are a few to keep an eye out for:
- 1909-S VDB Penny – The first year of the Lincoln Penny, with Victor David Brenner’s initials (VDB) on the back, is highly valuable. Some have 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 thousands of dollars.
What to Do If You Think You Found a Rare Penny
If you believe you’ve stumbled upon a valuable Lincoln Wheat Penny, here’s what to do next:
- Don’t Clean It! – Cleaning a coin can damage it and reduce its value. Leave it as is.
- Test It With a Magnet – If your 1943 penny doesn’t stick, it might be a rare bronze version.
- Get It Authenticated – Take your coin to a professional numismatist, coin dealer, or a grading service like PCGS or NGC to verify its authenticity.
- Consider Selling It at an Auction – If your penny is the real deal, you could sell it for millions at a major coin auction.
Final Thoughts
The idea that a single penny could be worth $2.1 million is incredible, but rare Lincoln Wheat Pennies have proven to be some of the most valuable coins in history.
If you have a 1943 penny or another old Wheat Penny, take a few minutes to examine it closely. It could turn out to be a hidden treasure that changes your life.
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.
