Most of us overlook pennies. They jingle at the bottom of purses, collect dust in jars, or get handed over without a second thought. But did you know that one special Lincoln Wheat Penny could be worth as much as $800,000—and it might still be in circulation?
The Origin of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to celebrate the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person, not a symbolic image. The front of the coin shows Lincoln’s profile, while the back has two stalks of wheat. This classic design ran until 1958.
Why Is One Penny Worth $800,000?
In 1943, during World War II, copper was needed for the war effort. So, the U.S. Mint started producing pennies made of steel coated with zinc. But a few copper planchets (blanks) were accidentally used that year, creating one of the rarest error coins in American history.
Only a handful of 1943 copper Lincoln pennies are known to exist, and because of their rarity, one sold for $800,000 at auction. The high value comes from the mistake in minting, the tiny number available, and strong demand from collectors.
Other Valuable Wheat Pennies
While the 1943 copper penny grabs the spotlight, other Lincoln Wheat Pennies are also worth serious money:
- 1909-S VDB – Only 484,000 were made. Value: over $100,000 in top condition.
- 1914-D – A rare mint from Denver, worth up to $10,000–$30,000.
- 1955 Doubled Die – A minting error causes the text to appear doubled. Value: up to $50,000.
How to Spot a Rare Penny
If you want to check your change for valuable coins, here’s what to look for:
- Check the Date – Key years include 1909, 1914, 1922, 1931, and especially 1943.
- Look for a Mint Mark – Found under the date. “D” is Denver, “S” is San Francisco, and no letter means Philadelphia.
- Do the Magnet Test – A genuine 1943 copper penny won’t stick to a magnet. If it does, it’s a common steel one.
- Look for Errors – Doubling of letters, misaligned prints, or unusual colors can signal a rare minting mistake.
Where You Might Find One
You could discover a valuable penny in:
- An old coin jar or piggy bank
- A relative’s coin collection
- Estate sales or garage sales
- Rolls of coins from the bank
Collectors often hunt for these gems by buying boxes of pennies and examining each one carefully.
Found Something Special? Here’s What to Do
If you think you’ve found a rare penny:
- Do not clean it—cleaning can lower its value.
- Handle it gently, holding only the edges.
- Store it safely in a plastic coin holder or a soft pouch.
- Get it authenticated by trusted grading services like PCGS or NGC.
- If it’s valuable, consider selling it through a coin auction for the best price.
Final Thoughts
The idea of an $800,000 penny may sound far-fetched—but it’s real. These rare Lincoln Wheat Pennies are out there, tucked away in drawers, coin jars, or maybe even in your loose change. It’s worth a quick look. Who knows? That little copper coin in your pocket could be your lucky break.