Most people don’t think twice about pennies—they’re usually tossed into jars, left in wallets, or used for exact change at the store. But what if I told you that a single penny could be worth $700,000? That’s right! Some rare Lincoln Wheat Pennies have sold for insane amounts at auctions, and the crazy part? A few of them might still be out there in circulation!
So, what makes this tiny coin worth so much? Let’s dive into the details and see if you could be holding a hidden fortune in your pocket change!
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 and continued production until 1958. This iconic coin replaced the previous design featuring Lady Liberty and became the first U.S. coin to feature a real person—Abraham Lincoln.
- Front (Obverse): Shows Lincoln’s portrait.
- Back (Reverse): Features two wheat stalks, symbolizing prosperity—hence the nickname “Wheat Penny.”
Though millions of these pennies were minted, some rare versions are now worth a fortune, especially those with errors, special materials, or low production numbers.
Why Is This Penny Worth $700,000?
Most Lincoln Wheat Pennies are worth just a few cents, but some rare versions have fetched hundreds of thousands of dollars. The $700,000 Lincoln Wheat Penny is one of the most sought-after coins in history.
1. The 1943 Bronze Penny—A Rare Mistake
During World War II, the U.S. Mint switched to steel pennies to conserve copper for the war effort. However, a few pennies were mistakenly struck in bronze (copper) instead of steel, creating one of the rarest and most valuable U.S. coins.
2. Extremely Rare—Only a Few Exist
Because this was a minting error, only a handful of 1943 Bronze Pennies were ever produced. These coins are so rare that they’ve sold for up to $700,000 at auctions!
3. Collector Demand Keeps Driving Up the Price
Collectors and investors are always on the lookout for rare, high-value coins. Since very few 1943 Bronze Pennies exist, they only become more valuable over time.
How to Check If You Have a Rare Lincoln Wheat Penny
Think you might have one of these valuable Wheat Pennies? Here’s how to find out:
- Check the Year & Material – The rare 1943 Bronze Penny should be copper-colored instead of silver-colored steel.
- Try the Magnet Test – A steel penny will stick to a magnet, but a bronze penny will not. If your 1943 penny doesn’t stick to a magnet, you might have something valuable!
- Look for a Mint Mark – Some versions, like the 1943-S and 1943-D Bronze Pennies, were minted in San Francisco (S) and Denver (D)—making them even more valuable.
- Condition Matters – The better the condition, the more it’s worth. A well-preserved 1943 Bronze Penny in near-perfect condition is worth more than a worn-out one.
- Check for Errors – Some Lincoln Wheat Pennies have double-die errors or other unique misprints, which can make them even more valuable.
Are These Rare Pennies Still in Circulation?
Yes! Even though most of these coins are now in private collections, there’s always a chance that one is still out there, being used just like any other penny. People unknowingly spend rare coins every day because they don’t realize their worth.
Where to Look for a Rare Lincoln Wheat Penny
- Your Pocket Change – Always check your pennies before spending them!
- Old Coin Jars & Piggy Banks – If you have a jar full of old pennies, go through them carefully.
- Garage Sales & Estate Sales – Some families sell old coin collections without realizing their value.
- Bank Rolls – Some collectors buy rolls of pennies from banks and search for hidden treasures inside.
What to Do If You Find a Rare Penny
Think you’ve found a valuable Lincoln Wheat Penny? Here’s what to do next:
- Don’t Clean It! – Cleaning a coin can damage it and lower its value. Leave it as is.
- Do the Magnet Test – If your 1943 penny doesn’t stick to a magnet, it could be a rare bronze version worth big money!
- Get It Checked by an Expert – Take it to a professional coin dealer, numismatist, or grading service like PCGS or NGC to verify its authenticity.
- Sell It the Right Way – If your penny is legit, consider selling it at a major coin auction to get the best price.
Final Thoughts
The Lincoln Wheat Penny is more than just an old coin—it’s a piece of history, and in some cases, it’s a life-changing treasure. While most pennies are just pocket change, some rare versions are worth hundreds of thousands of dollars.
So, the next time you get a penny as change, don’t just toss it in a jar—take a closer look! You never know… you might be holding a $700,000 fortune in your hands!
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.
