Most people don’t think twice about pennies, but what if one of those small coins could make you an instant millionaire? Believe it or not, a rare Lincoln Wheat Penny has been valued at $990,000, and it might still be in circulation today. That means someone could unknowingly be carrying a fortune in their pocket change. Let’s dive into what makes this penny so valuable and how you can spot one.
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 historical figure. The front of the coin displays Abraham Lincoln’s portrait, while the back features two wheat stalks, symbolizing prosperity—hence the name “Wheat Penny.”
While most of these pennies are only worth one cent, some rare versions have sold for hundreds of thousands—or even close to a million dollars at auctions.
Why is This Penny Worth $990K?
Not all Lincoln Wheat Pennies are valuable, but some are extremely rare. The most expensive Lincoln Wheat Penny ever sold is the 1943 Bronze Penny.
Here’s why:
1. World War II Metal Shortage – In 1943, copper was needed for the war effort, so the U.S. Mint switched to steel pennies instead of the usual copper ones.
2. Rare Minting Error – A few pennies were accidentally struck in bronze (a mix of copper and tin) instead of steel. These mistake coins became some of the rarest in history.
3. High Auction Prices – In 2019, one of these 1943 Bronze Pennies was sold for $990,000 at auction. Experts estimate that only 20 to 40 of these coins exist today.
How to Identify a $990K Lincoln Wheat Penny
Think you might have one of these rare pennies? Here’s how to check:
- Look at the Year – The penny should have the year “1943” stamped on it.
- Check the Color – A real 1943 Bronze Penny will have a copper or brownish tint. If it’s silver or grey, it’s just the common steel version.
- Try the Magnet Test – Steel pennies will stick to a magnet, but a bronze penny will not. If your 1943 penny doesn’t stick, you might have something rare.
- Check for Mint Marks – If your penny has a small “D” (Denver Mint) or “S” (San Francisco Mint) below the date, it could be even more valuable.
- Get It Authenticated – If you think you have a rare penny, take it to a professional coin dealer or use a coin grading service like PCGS or NGC to confirm its authenticity.
Other Valuable Lincoln Wheat Pennies
Even if you don’t find a 1943 Bronze Penny, there are other Lincoln Wheat Pennies worth a lot of money:
- 1909-S VDB Penny – One of the first Lincoln pennies ever made, worth up to $100,000.
- 1944 Steel Penny – A rare mistake where steel planchets were accidentally used in 1944, making this penny worth up to $750,000.
- 1955 Doubled Die Penny – A printing error caused the text on this penny to appear doubled, making it worth up to $50,000.
Could You Still Find This Penny Today?
Surprisingly, yes! Many people don’t check their pennies carefully and unknowingly spend rare coins as regular change. That means one of these $990K pennies could still be hiding in a coin jar, an old piggy bank, or even in circulation at stores.
What to Do If You Find a Rare Penny
If you think you’ve found a valuable Lincoln Wheat Penny, follow these steps:
- Don’t Spend It! – Hold onto it until you get it checked.
- Verify Authenticity – Compare it to online guides or take it to a trusted coin dealer.
- Get an Official Appraisal – A professional grading service like PCGS or NGC can authenticate and grade your coin, which determines its exact value.
- Consider Selling It – If it’s real, you could sell it through:
- Coin Auctions – Auctions attract serious collectors willing to pay top dollar.
- Reputable Coin Dealers – Trusted dealers can evaluate and purchase your coin.
- Online Marketplaces – Websites like eBay or numismatic forums connect collectors worldwide.
Final Thoughts
The Lincoln Wheat Penny worth $990,000 is one of the rarest and most valuable coins in U.S. history. While finding one is extremely rare, it’s not impossible—and with a little luck, you could be holding a fortune in your pocket without even knowing it.
So, next time you come across an old penny, take a closer look. It might be worth a lot more than just one cent.
Disclaimer: The values mentioned in this article are based on past auction prices and collector demand. Prices can fluctuate, and official authentication is necessary before determining a coin’s true worth. Always consult a professional numismatist before making any financial decisions.
