Most of us don’t think twice about pennies. They pile up in jars, get tossed in tip trays, or disappear under car seats. But what if one of those pennies was worth a mind-blowing $42 million?
Yes, you read that right! A rare Lincoln Wheat Penny could still be out there in circulation, just waiting to be found. Imagine picking up a penny off the ground and realizing it’s worth more than a mansion! Let’s take a closer look at what makes this coin so valuable, how to spot one, and what to do if you’re lucky enough to find one.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 as a tribute to President Abraham Lincoln’s 100th birthday. Designed by Victor David Brenner, it was the first U.S. coin to feature a real person rather than a symbolic figure like Lady Liberty.
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, which is why it’s called the “Wheat Penny.”
This design was used until 1958, when it was replaced by the Lincoln Memorial Penny.
While most Lincoln Wheat Pennies are only worth a few cents, certain rare editions have sold for millions.
Why Is This Lincoln Wheat Penny Worth $42 Million?
While most pennies don’t get a second glance, one particular Lincoln Wheat Penny has taken the coin-collecting world by storm—the 1943 Bronze Wheat Penny.
Here’s What Makes It So Special:
1. A Minting Error That Became a Legend
- In 1943, the U.S. Mint stopped using copper for pennies and switched to steel to conserve copper for World War II efforts.
- However, a few pennies were mistakenly struck on leftover bronze (copper) planchets from 1942.
- This printing error created one of the rarest and most valuable coins in U.S. history.
2. Only a Few Exist
- It’s estimated that fewer than 20 of these 1943 Bronze Pennies exist today.
- Because of their extreme rarity, collectors are willing to pay record-breaking prices for them.
3. Record-Breaking Auction Sales
- One of these 1943 Bronze Wheat Pennies sold for a jaw-dropping $42 million, making it one of the most expensive coins ever sold.
- Another similar penny sold for $1.7 million, proving that these coins are worth serious money.
If you happen to find one, you could be holding a life-changing fortune in your hands.
How to Check If You Have the $42 Million Penny
If you’re curious whether you have one of these rare Lincoln Wheat Pennies, here’s how to find out:
1. Look at the Date
- The 1943 Wheat Penny is the one to check.
- If you have a 1943 penny that looks copper instead of silver, don’t ignore it!
2. Try the Magnet Test
- Steel 1943 pennies are magnetic and will stick to a magnet.
- A rare 1943 bronze penny will NOT stick—if yours doesn’t, you might have struck gold (well, copper, but still!).
3. Check the Color
- Most 1943 pennies were made of steel, so they appear silver or gray.
- A rare 1943 bronze penny has a reddish-brown (copper) color.
4. Weigh the Penny
- A steel 1943 penny weighs 2.7 grams.
- A bronze 1943 penny weighs 3.1 grams.
- If your 1943 penny is copper-colored and weighs 3.1 grams, you could be holding a multi-million-dollar treasure.
Are These Rare Pennies Still in Circulation?
Believe it or not, yes! Even though they are incredibly valuable, some of these rare pennies might still be floating around in everyday transactions.
People often overlook old pennies, and some of these valuable coins have been unknowingly spent as regular change.
Where Might You Find One?
- Old piggy banks and coin jars
- Loose change from stores
- Rolls of pennies from banks
- Garage sales, flea markets, and estate sales
So, before you pass up a 1943 penny, take a closer look—you might be holding history in your hands.
What to Do If You Find a Rare Penny?
If you think you’ve found a 1943 Bronze Wheat Penny, follow these steps:
1. Do NOT Clean It!
- Cleaning the coin can ruin its surface and lower its value significantly.
- Even if it looks dirty, leave it in its original condition.
2. Get It Authenticated
- Take it to a professional coin grading service, such as:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Corporation)
- These experts will verify if the coin is real and determine its condition.
3. Sell It the Right Way
- Rare coins fetch the highest prices at auctions. Consider selling through:
- Heritage Auctions
- Stack’s Bowers
- Certified rare coin dealers
- Avoid selling to random buyers online—always work with a trusted expert to ensure you get the best price.
Final Thoughts
The Lincoln Wheat Penny valued at $42 million is one of the most legendary coins in history. While the odds of finding one are incredibly low, they aren’t impossible.
So, the next time you receive a penny in your change, take a second look—you might just be holding a once-in-a-lifetime fortune.
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.