Imagine finding a penny in your change jar that turns out to be worth a staggering $420 million. Sounds too good to be true, right? But in the fascinating world of rare coin collecting, certain Lincoln Wheat Pennies have skyrocketed in value, and some could still be lurking in everyday circulation. That means there’s a small but real chance you might be holding onto one without even knowing it!
Let’s dive into what makes these legendary pennies so valuable, how to spot one, and what to do if you strike it rich with a rare coin discovery.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny made its debut in 1909, marking the 100th birthday of President Abraham Lincoln. Designed by Victor David Brenner, it was a historic first—the first U.S. coin to feature a real person, replacing the Indian Head Cent.
Key Features of the Lincoln Wheat Penny:
- Front (Obverse): Features Lincoln’s portrait, a design that remains on pennies today.
- Back (Reverse): Displays two wheat stalks, symbolizing prosperity and strength—hence the name “Wheat Penny.”
This design was in circulation until 1958, when the Lincoln Memorial Penny took its place. While most Wheat Pennies are only worth a cent, certain rare variations have become some of the most sought-after coins in history.
Why Is This Penny Worth $420 Million?
While millions of Lincoln Wheat Pennies were minted, only a handful possess the rare characteristics that send their value into the millions. One of the most legendary among them? The 1943 Bronze Lincoln Wheat Penny—one of the rarest and most valuable coins in U.S. history.
The Story Behind the 1943 Bronze Penny
During World War II, copper was in high demand for war supplies, so the U.S. Mint switched to making pennies out of steel coated with zinc. However, a few pennies were accidentally struck in bronze (copper), making them one of the biggest minting mistakes in history.
Why So Valuable?
- Extremely Rare: Only a few genuine 1943 Bronze Pennies are known to exist, making them one of the rarest U.S. coins ever produced.
- High Collector Demand: Because of their rarity and historical significance, collectors are willing to pay massive amounts for one.
- Record-Breaking Auctions: Some of these 1943 Bronze Pennies have sold for millions, and experts believe a perfectly preserved version could be worth up to $420 million.
Can You Still Find One in Circulation?
Believe it or not, yes! Many valuable coins go unnoticed because people don’t realize their worth. Rare coins have been:
- Spent unknowingly in everyday transactions
- Stored in old piggy banks or coin jars
- Overlooked in inherited coin collections
That means it’s still possible to find a rare Lincoln Wheat Penny in your spare change or old family keepsakes.
How to Identify a Rare Lincoln Wheat Penny
If you stumble upon an old Wheat Penny, here’s how to check if you’ve hit the jackpot:
1. Check the Year
Some of the most valuable Lincoln Wheat Pennies include:
- 1909-S VDB Penny – The first Lincoln Penny, featuring the designer’s initials (VDB), can be worth thousands.
- 1914-D Penny – A low-mintage coin from the Denver Mint, making it highly valuable.
- 1943 Bronze Penny – The ultimate rare find, potentially worth millions.
2. Use the Magnet Test
Most 1943 pennies were made of steel and will stick to a magnet.
- If your 1943 penny does NOT stick, it could be a rare copper version worth a fortune.
3. Look for a Mint Mark
Check under the year for a small letter indicating where it was minted:
- “D” – Denver Mint
- “S” – San Francisco Mint
- No letter – Philadelphia Mint
4. Check the Condition
Well-preserved, uncirculated coins are worth much more than worn-out ones. The better the condition, the higher the potential value.
Other Valuable Lincoln Wheat Pennies
Even if you don’t find the $420 million penny, other rare Wheat Pennies could still be worth a small fortune:
- 1909-S VDB Penny – One of the first Lincoln pennies ever made, valued at thousands.
- 1944 Steel Penny – Another minting mistake where steel was used instead of bronze, worth over $100,000.
- 1955 Double Die Penny – A famous error coin with double lettering, selling for tens of thousands.
What to Do If You Think You Found a Rare Penny
If you suspect you’ve got a valuable Lincoln Wheat Penny, follow these steps:
- Don’t Clean It! – Cleaning a rare coin can damage it and lower its value.
- Do the Magnet Test – If your 1943 penny doesn’t stick, it could be rare.
- Weigh the Coin – A regular 1943 steel penny weighs 2.7 grams, while a 1943 bronze penny weighs 3.11 grams.
- Get It Verified – Take your coin to a professional numismatist, reputable coin dealer, or grading service like PCGS or NGC.
- Sell It the Right Way – If your penny is genuine and rare, auctioning it at a major coin auction house could land you a life-changing payout.
Final Thoughts: Could You Have a $420 Million Penny?
The Lincoln Wheat Penny is more than just a piece of pocket change—it’s a piece of American history. While most are only worth a cent, rare versions like the 1943 Bronze Penny can fetch mind-blowing amounts.
So before you toss your spare change aside, take a closer look—you might be holding one of the rarest and most valuable coins ever made.