Most people don’t pay much attention to pennies, but what if one of them was worth a staggering $510,000? That’s exactly the case with some rare Lincoln Wheat Pennies, which have sold for jaw-dropping prices at auctions. Even more exciting, one of these valuable coins might still be in circulation, meaning you could find one in your pocket change without even realizing it.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny is one of the most well-known coins in U.S. history. It was first minted in 1909 and remained in production until 1958. It features Abraham Lincoln’s portrait on the front, making it the first U.S. coin to feature a real person. The back of the coin has two wheat stalks, which is why it’s called a Wheat Penny.
In 1959, the design changed to feature the Lincoln Memorial, but many old Wheat Pennies are still out there in circulation. While most of them are only worth a few cents, some rare editions can be worth thousands—or even hundreds of thousands—of dollars.
Why is This Penny Worth $510,000?
Not every Lincoln Wheat Penny is valuable, but certain rare editions are highly sought after by collectors. Two of the most valuable ones are the 1943 Copper Wheat Penny and the 1909-S VDB Wheat Penny.
The 1943 Copper Lincoln Wheat Penny
During World War II, the U.S. Mint switched from copper to steel pennies to conserve copper for the war effort. However, by accident, a small number of 1943 pennies were struck in copper (bronze) instead of steel. These are incredibly rare and have been sold for as much as $510,000 at auctions.
How do you know if you have one?
- Check the Date – The coin should have the year 1943 clearly visible.
- Look at the Material – Most 1943 pennies are silver-colored because they were made of steel. If you find a copper-colored 1943 penny, it might be the rare one.
- Do the Magnet Test – A steel penny will stick to a magnet, but a copper one will not. If your 1943 penny doesn’t stick, you could have a fortune in your hands.
The 1909-S VDB Lincoln Wheat Penny
Another valuable Lincoln Wheat Penny is the 1909-S VDB edition. This was the first year the Lincoln penny was made, and it featured the initials VDB (for designer Victor David Brenner) on the reverse side at the bottom.
Only a limited number were produced at the San Francisco Mint (marked with an “S”), making this coin extremely valuable. If you find a 1909-S VDB penny, it could be worth thousands or even hundreds of thousands of dollars.
Could These Pennies Still Be in Circulation?
Believe it or not, yes. Rare coins sometimes end up back in circulation because people don’t recognize their value and spend them like regular pennies. Some have been found in piggy banks, old coin jars, and even pocket change. While it’s rare, it’s not impossible that one of these valuable pennies is still out there, waiting to be discovered.
What to Do If You Find One
If you think you have a rare Lincoln Wheat Penny, here’s what to do next:
- Do Not Clean It – Cleaning a coin can actually reduce its value, so leave it as is.
- Get It Verified – Take it to a professional coin dealer or send it to a coin grading service like PCGS or NGC to confirm its authenticity.
- Sell It the Right Way – If it turns out to be valuable, you can sell it through a coin auction or a reputable rare coin marketplace to get the best price.
Final Thoughts
The thought of a $510,000 penny being out there in circulation makes coin collecting exciting. While most pennies are just spare change, a rare Lincoln Wheat Penny could be worth a life-changing amount of money.
So next time you come across an old penny, take a second look. You never know—you might just be holding a hidden treasure.
Disclaimer: Coin values depend on rarity, condition, and market demand. Always consult a professional before making any buying or selling decisions.