Most people don’t pay much attention to pennies, but what if one of those little coins was worth $870,000? That’s exactly the case with a rare Lincoln Wheat Penny, and believe it or not, some of these valuable pennies are still out there in circulation. So, what makes this penny so special, and how can you tell if you have one? Let’s break it down.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 to celebrate the 100th anniversary of Abraham Lincoln’s birth. It features Lincoln’s profile on the front and two wheat stalks on the back, which is how it got its nickname. These pennies were produced until 1958, when the design switched to the Lincoln Memorial Penny that most people are familiar with today.
While millions of these pennies were made over the years, a few rare versions have become extremely valuable, especially the 1943 Bronze Wheat Penny.
Why is This Penny Worth $870,000?
Not all Lincoln Wheat Pennies are valuable, but certain rare editions have sold for huge amounts at auctions. The most valuable one is the 1943 Bronze Lincoln Wheat Penny.
Here’s why:
1. World War II Metal Change – In 1943, the U.S. Mint switched from copper to steel for pennies to save copper for war supplies.
2. Rare Mistake – A small number of pennies were accidentally struck in bronze (copper) instead of steel. These rare error coins became some of the most sought-after in history.
3. Record-Breaking Sale – In 2019, one of these rare 1943 Bronze Pennies sold for an astounding $870,000 at auction. This made it one of the most expensive pennies ever sold.
How to Identify a Rare Lincoln Wheat Penny
Think you might have one of these valuable pennies? Here’s what to look for:
- Check the Year – The rarest ones are from 1943 and made of bronze (copper) instead of steel.
- Try the Magnet Test – A steel penny will stick to a magnet, but a bronze one will not. If your 1943 penny doesn’t stick, it might be rare.
- Look for Mint Marks – If the coin has an “S” (San Francisco Mint) or “D” (Denver Mint), it might be even more valuable.
- Check for Errors – Some Wheat Pennies have printing errors like double-die prints or missing details, making them worth even more.
Could These Pennies Still Be in Circulation?
Surprisingly, yes. While most of these rare pennies have been collected, some are still out there, hiding in pocket change, old piggy banks, or even tucked away in forgotten coin jars. Many people don’t know their true value, so they might have been unknowingly spent over the years.
Other Valuable Lincoln Wheat Pennies
The 1943 Bronze Penny isn’t the only valuable Wheat Penny. Here are a few others that collectors will pay big money for:
- 1909-S VDB Lincoln Penny – Only 484,000 were minted, making it one of the rarest Lincoln Pennies. If you find one, it could be worth up to $100,000.
- 1914-D Lincoln Penny – A rare edition from the Denver Mint, often valued at $30,000 or more in good condition.
- 1922 No “D” Penny – A unique error coin that accidentally left out the Denver Mint mark. Some versions have sold for thousands of dollars.
What to Do If You Find a Rare Lincoln Wheat Penny
If you think you’ve stumbled upon a valuable penny, here’s what to do next:
1. Verify Authenticity – Compare it to online coin guides or take it to a trusted coin dealer.
2. Get It Appraised – Professional grading services like PCGS or NGC can authenticate and grade your coin, determining its true value.
3. Consider Selling It – If it’s genuinely rare, you could sell it through:
- Coin Auctions – Major auctions attract serious collectors willing to pay top dollar.
- Reputable Coin Dealers – Trusted dealers can help evaluate and purchase your coin.
- Online Marketplaces – Websites like eBay and numismatic forums connect collectors worldwide.
Final Thoughts
The Lincoln Wheat Penny worth $870,000 is one of the most exciting finds in coin collecting history. While it’s rare, there’s still a chance that one could be hiding in your pocket change. So, next time you get a handful of pennies, take a closer look—you never know, you might just strike gold with a simple one-cent coin.
Disclaimer: The values mentioned in this article are based on past sales and market trends. Prices fluctuate, and professional authentication is necessary before determining a coin’s actual worth. Always consult a numismatic expert before making any financial decisions.
