Most people don’t give much thought to pennies—they get tossed into jars, left in car cup holders, or spent without a second glance. But what if one of those pennies was actually worth $849,000? Believe it or not, some rare Lincoln Wheat Pennies are out there, and one might still be in circulation today!
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 and remained in production until 1958. Designed by Victor David Brenner, it was the first U.S. coin to feature a real person—President Abraham Lincoln.
- Front (Obverse): Features Abraham Lincoln’s portrait.
- Back (Reverse): Displays two wheat stalks, symbolizing prosperity and national growth.
This design was replaced in 1959 with the Lincoln Memorial Penny. While most Wheat Pennies are only worth face value, a few rare ones have become incredibly valuable due to errors, historical significance, and limited availability.
Why Is This Lincoln Wheat Penny Worth $849K?
Not every Lincoln Wheat Penny is worth a fortune, but a few rare versions have sold for hundreds of thousands of dollars. The $849,000 penny stands out for a few reasons:
1. Minting Error – A 1943 Copper Lincoln Penny was accidentally struck on a copper planchet instead of the steel planchets that were supposed to be used during World War II.
2. Limited Availability – In 1943, pennies were meant to be made of steel to save copper for wartime supplies. However, a few copper pennies were mistakenly produced, making them extremely rare.
3. Auction Record – One of these 1943 Copper Pennies was sold for $849,000, making it one of the most valuable pennies ever discovered.
4. Condition Matters – The better the condition, the higher the value. A well-preserved “mint state” penny is worth far more than a worn-out one.
Could This Rare Penny Still Be in Circulation?
Believe it or not, yes! Some rare Lincoln Wheat Pennies are still out there, waiting to be found. Many people don’t realize their worth and unknowingly spend them like regular pennies.
Here’s where valuable pennies have been found before:
- Old piggy banks and coin jars
- Garage sales and flea markets
- Coin rolls from banks
- Inherited coin collections
While finding a $849,000 penny is rare, it isn’t impossible.
How to Identify a Valuable Lincoln Wheat Penny
Think you might have a rare Lincoln Wheat Penny? Here’s how to check:
- Look at the Year – The most valuable pennies include 1909-S VDB, 1914-D, 1943 Copper, and 1955 Doubled Die.
- Try the Magnet Test – A 1943 Steel Penny will stick to a magnet, but a rare 1943 Copper Penny won’t.
- Check the Color – A 1943 Copper Penny has a reddish-brown hue, while a common steel version is silver-gray.
- Look for Mint Marks – These rare pennies were produced in Philadelphia (no mint mark), Denver (D), and San Francisco (S). The Philadelphia version is the most valuable.
If your 1943 penny doesn’t stick to a magnet and has a copper color, you might be holding a small fortune!
Other Valuable Lincoln Wheat Pennies
Even if you don’t find the $849K penny, some other rare Wheat Pennies are worth thousands of dollars:
- 1909-S VDB Penny – One of the first Lincoln pennies ever made, worth up to $100,000.
- 1914-D Penny – A low-mintage penny, valued at $5,000+.
- 1955 Doubled Die Penny – A famous printing error makes the letters and numbers appear doubled, making this penny worth $1,000 or more.
What to Do If You Find a Rare Penny
If you think you’ve discovered a valuable Lincoln Wheat Penny, here’s what to do:
1. Keep It Safe – Store it in a protective case to prevent damage.
2. Compare It Online – Look up authentic rare pennies and compare them to yours.
3. Test It – If it’s a 1943 Copper Penny, do the magnet test—if it doesn’t stick, it might be valuable.
4. Get It Verified – Take it to a coin expert or grading service (PCGS or NGC) to confirm its authenticity.
5. Consider Selling It – If it’s genuine, you can sell it through:
- Coin Auctions – Some collectors pay top dollar for rare coins.
- Reputable Coin Dealers – Some dealers specialize in buying valuable pennies.
- Online Marketplaces – Websites like eBay or numismatic forums connect collectors and sellers.
Final Thoughts
A penny worth $849,000 sounds too good to be true, but rare Lincoln Wheat Pennies do exist. While finding one isn’t easy, it’s not impossible—so next time you get a handful of pennies, take a closer look.
Who knows? You might be holding a hidden treasure!
Disclaimer: The values mentioned in this article are based on past auction results and collector demand. Actual values may vary due to market fluctuations. Always consult a professional numismatist for authentication before making financial decisions.
