Most people don’t think twice about pennies, but what if one of them was worth nearly $690,000? That’s the case with a rare Lincoln Wheat Penny that has sold for an eye-watering amount at auction. The best part? Some of these rare pennies are still 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 was first minted in 1909 to honor President Abraham Lincoln’s 100th birthday. It was the first U.S. coin to feature a real person instead of symbolic imagery. The front of the coin displays Lincoln’s profile, while the back features two wheat stalks, which is how it got its name.
These pennies were produced until 1958, after which the Lincoln Memorial design replaced them. Today, Wheat Pennies are popular among collectors, but certain rare versions can be worth an absolute fortune.
Why is This Penny Worth $690,000?
Not every Lincoln Wheat Penny is valuable, but a few rare variations are highly sought after by collectors. One of the most valuable is the 1943 Bronze Wheat Penny, which is what makes this particular penny worth up to $690,000.
Here’s what makes it so special:
- The 1943 Bronze Error – During World War II, the U.S. Mint switched from copper to steel pennies to save copper for the war effort. However, a small number of 1943 pennies were accidentally made with bronze (copper) instead of steel. These rare mistakes are what drive their high value.
- Rarity – Only a handful of 1943 bronze pennies exist, making them one of the rarest and most valuable U.S. coins.
- Condition Matters – Like all collectibles, the better the condition, the more valuable the coin. An uncirculated or well-preserved 1943 Bronze Wheat Penny could be worth hundreds of thousands of dollars.
How to Identify a Valuable Lincoln Wheat Penny
If you’re curious about whether you have a valuable Lincoln Wheat Penny, here’s what to check for:
- Look at the Date – The most valuable Wheat Pennies include 1909-S, 1914-D, 1922-D, and 1943 (copper variant).
- Test the Material – The 1943 steel penny is magnetic, but the 1943 bronze penny is not. If your 1943 penny doesn’t stick to a magnet, it might be a rare one.
- Check the Mint Mark – Coins with an “S” (San Francisco) or “D” (Denver) mint mark are often more valuable than those without.
- Assess the Condition – A well-preserved, uncirculated coin will always fetch a higher price than a worn-out one.
Could You Still Find One in Circulation?
Surprisingly, yes! Rare pennies have been accidentally spent by people who don’t realize their worth. Many collectors have discovered valuable coins in piggy banks, bank coin rolls, or even grocery store change.
While the chances of finding a 1943 Bronze Wheat Penny are slim, it’s not impossible. People unknowingly spend old coins every day, so it’s always worth taking a closer look at your spare change.
What to Do If You Find a Rare Penny
If you think you’ve found a valuable Lincoln Wheat Penny, don’t clean it—cleaning can damage the coin and lower its value. Instead:
- Store it safely in a coin holder or soft cloth to prevent further wear.
- Have it appraised by a professional coin dealer or numismatic expert.
- Consider selling it through a reputable auction house or rare coin marketplace.
Final Thoughts
The idea that a $690,000 penny could still be out there is an exciting thought for collectors and everyday people alike. While most pennies are only worth one cent, a rare Lincoln Wheat Penny could be worth a life-changing amount.
So, the next time you get a handful of pennies, take a second look. You never know—you might just be holding a small fortune.
Disclaimer: Coin values vary based on condition, rarity, and market trends. Always consult a professional before making any buying or selling decisions.
