Most people don’t give pennies much thought. They’re the kind of coins that get tossed into jars, left in car cup holders, or even ignored on the sidewalk. But what if I told you that one special penny could be worth a staggering $7.2 million? That’s right—there’s a rare Lincoln Wheat Penny out there that’s worth more than most houses.
And here’s the crazy part: it might still be in circulation! That means someone, somewhere, could unknowingly have this small fortune sitting in their loose change. Could you be the lucky one to find it? Let’s break down what makes this penny so valuable and how you can check if you have one.
The History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to honor the 100th birthday of President Abraham Lincoln. It was designed by Victor David Brenner and was the first U.S. coin to feature a real person instead of a symbolic figure like Lady Liberty.
This penny is easy to recognize because of its distinct design:
- Front (Obverse): Features a portrait of Abraham Lincoln, with the words “In God We Trust,” “Liberty,” and the year of minting.
- Back (Reverse): Displays two wheat stalks, symbolizing prosperity, with the words “One Cent” and “United States of America.”
The Lincoln Wheat Penny was minted until 1958, after which the design changed to feature the Lincoln Memorial. While millions of these pennies were produced, only a few rare versions are worth life-changing amounts of money.
Why Is This Penny Worth $7.2 Million?
Most Lincoln Wheat Pennies are only worth a cent, but a few rare ones can be worth millions. The $7.2 million Lincoln Wheat Penny is special because of a minting error that occurred in 1943.
What Happened in 1943?
During World War II, copper was in high demand for making war supplies like bullets and electrical wiring. To conserve copper, the U.S. Mint switched to making pennies out of steel in 1943. These steel pennies had a silver-like appearance and were meant to replace traditional copper pennies for that year.
However, a few pennies were mistakenly made from leftover copper blanks from 1942. This minting error resulted in the creation of a small number of 1943 copper pennies, making them one of the rarest and most valuable coins in American history.
Collectors have been willing to pay millions to own one. Some of these rare pennies have sold for over $1 million, with one of them being valued at a record-breaking $7.2 million.
How to Check If You Have a Rare 1943 Penny
Think you might have a $7.2 million penny hiding in your change? Here’s how to check:
1. Perform the Magnet Test
- Regular 1943 pennies were made of steel, so they will stick to a magnet.
- If your 1943 penny does NOT stick to a magnet, it could be made of copper—which means you might have one of the rare ones!
2. Check the Color
- A regular 1943 steel penny will look silver or grayish.
- A rare 1943 copper penny will have a reddish-brown color, like regular pennies before and after 1943.
3. Look for a Mint Mark
Some of these rare copper 1943 pennies were minted in different locations:
- No mint mark – Minted in Philadelphia
- “D” mint mark – Minted in Denver
- “S” mint mark – Minted in San Francisco
If your 1943 copper penny has a mint mark, it could be even more valuable.
4. Get It Verified
If your penny passes the magnet test and has the right color, don’t get too excited just yet! There are many fakes out there, so you need to get your penny authenticated by a professional.
Take it to a trusted coin grading service like:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Corporation)
These experts can confirm its authenticity and tell you how much it’s worth.
Could This Penny Still Be in Circulation?
The craziest part about this story is that some experts believe a few of these rare 1943 copper pennies are still out there. Since pennies are so common, many people never bother checking them—which means someone could be unknowingly spending or hoarding one of the rarest coins in history.
Where Could You Find One?
- In old piggy banks or coin jars – If you or your grandparents have old pennies, check them!
- At garage sales or flea markets – Sometimes people sell old coin collections without realizing their value.
- Inside bank coin rolls – Some collectors go through rolls of pennies from the bank, hoping to find rare ones.
- Inherited collections – If you’ve ever inherited a jar of coins, it’s worth taking a second look.
What Should You Do If You Find One?
If you think you’ve discovered a rare 1943 copper Lincoln Wheat Penny, follow these steps:
1. Do Not Clean It – Cleaning a rare coin can reduce its value. Leave it in its original condition.
2. Get It Authenticated – Find a trusted rare coin dealer or professional grading service to verify if it’s real.
3. Consider Selling It at Auction – If it turns out to be genuine, you could sell it at a rare coin auction for millions of dollars. Some collectors will pay top dollar for these legendary coins.
Final Thoughts
The Lincoln Wheat Penny is one of the most fascinating coins in U.S. history. The 1943 copper version, worth up to $7.2 million, is a collector’s dream and remains one of the rarest coins ever made.
While the chances of finding one are incredibly slim, it’s not impossible. Some have already been discovered in ordinary places, so why not check your change?
Next time you come across a 1943 penny, take a moment to inspect it. You never know—you just might be holding a piece of history worth millions!
Disclaimer: Coin values fluctuate over time. While some 1943 copper pennies have sold for millions, actual prices depend on market demand. Always consult a professional before making any financial decisions regarding rare coins.
