Most of us don’t think twice about pennies. They end up at the bottom of purses, tucked into couch cushions, or dropped into jars to be forgotten. But what if one of those pennies was actually worth a fortune? Believe it or not, a rare version of the Lincoln Wheat Penny has been valued at $1.5 million, and there’s a chance it could still be floating around in regular pocket change.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 to honor President Abraham Lincoln’s 100th birthday. It was the first U.S. coin to feature a real person. The front shows Lincoln’s profile, while the back features two wheat stalks—hence the name “Wheat Penny.” This design was used until 1958, when it was replaced by the Lincoln Memorial version.
Why One Penny Is Worth $1.5 Million
During World War II, copper was needed for military supplies, so the U.S. Mint began making pennies out of steel in 1943. However, a few copper blanks were accidentally used that year, creating one of the rarest coins in U.S. history—the 1943 Copper Wheat Penny. Only a few dozen are known to exist.
One of these rare coins was sold for $1.5 million in a private sale. Its high value comes from a combination of rarity, a minting error, and strong collector demand.
Other Rare and Valuable Wheat Pennies
While the 1943 copper penny gets the most attention, there are several other Lincoln Wheat Pennies that can sell for thousands:
- 1909-S VDB – Only 484,000 were made, and collectors love the initials “VDB” on the reverse. Can be worth over $100,000.
- 1914-D – Made in Denver, this one is rare and can bring in tens of thousands.
- 1955 Doubled Die – A printing error caused the lettering to appear doubled. Clean examples can fetch $10,000 to $50,000.
How to Check Your Pennies
It’s easy to check if you have a valuable Wheat Penny:
- Look at the date – Pay attention to coins from 1909, 1914, 1922, 1931, and 1943.
- Check the mint mark – Found just below the date. “D” stands for Denver, “S” for San Francisco, and no mark means Philadelphia.
- Do the magnet test – A real 1943 copper penny won’t stick to a magnet, but the common steel ones will.
- Watch for mistakes – Coins with printing errors, like double images or misaligned stamps, can also be worth a lot.
Where to Search for Rare Pennies
These valuable coins can be found in some unexpected places:
- Old piggy banks or coin jars
- Coins passed down from relatives
- Estate sales or flea markets
- Bank rolls—some people buy rolls of pennies just to search through them for rare finds
What to Do If You Find a Rare Penny
If you think you’ve found something valuable:
- Don’t clean it! Cleaning can ruin its value.
- Handle it carefully, holding it by the edges.
- Store it safely in a coin holder or small plastic bag.
- Have it checked by a professional grading service like PCGS or NGC.
- If it’s truly valuable, consider selling it through a coin auction where serious collectors bid.
A Piece of American History
These pennies are more than just coins—they’re pieces of the past. From the Great Depression to wartime America, Lincoln Wheat Pennies have seen it all. The rare 1943 copper version tells a story of production changes during crisis times, making it a fascinating find for history lovers and collectors alike.
Final Thought
A penny might seem worthless, but the next time you get change at the store, take a second look. One small coin could be worth $1.5 million—and it might be sitting right in your pocket.