What if that old jar of coins in your kitchen or the loose change in your car held a small fortune? Believe it or not, one of the most ordinary coins in American history — the Lincoln Wheat Penny — has sold for as much as $37 million. Yes, you read that right. A simple one-cent coin, originally made for everyday purchases, has become one of the most valuable collectibles in the world.
In this post, we dive into the fascinating story of the Lincoln Wheat Penny, why some are worth millions, and how you can check if you have one of these rare gems tucked away in your home.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the “Wheat Cent,” was first minted in 1909 to honor the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person instead of a symbolic figure like Lady Liberty.
Designed by Victor David Brenner, the coin’s reverse side showed two wheat stalks, symbolizing America’s agricultural roots. His initials “V.D.B.” were initially displayed prominently but were later removed due to public controversy. The wheat design remained in use until 1958, when it was replaced by the Lincoln Memorial.
From its inception, the Lincoln Wheat Penny became a favorite among collectors — and over the years, some versions gained legendary status.
The $37 Million Penny: 1943 Bronze Error
During World War II, copper was in high demand for military use, so the U.S. Mint began producing pennies using zinc-coated steel in 1943. These silver-colored coins were widely circulated and easy to identify.
However, a rare minting error occurred when a few leftover bronze planchets from 1942 were mistakenly used to strike 1943-dated pennies at several mints. These 1943 Bronze Lincoln Wheat Pennies are now among the most famous and valuable coins ever created.
- One has sold for over $1.7 million.
- Experts believe a pristine specimen could fetch as much as $37 million, depending on condition and demand.
Why Is the 1943 Bronze Lincoln Wheat Penny So Valuable?
Several reasons drive the staggering value of this coin:
- Rarity: Fewer than two dozen genuine examples are known to exist.
- Historical Context: These coins were minted during the turmoil of WWII, adding to their allure.
- Error Status: The accidental use of bronze planchets created a legendary mistake.
- Collector Demand: Elite collectors are willing to pay top dollar for coins of such prestige.
- Condition: Mint state examples with full detail are significantly more valuable.
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How to Tell If You Have a 1943 Bronze Lincoln Wheat Penny
Finding one of these coins would be like winning the lottery. Here’s how to tell if you have one:
- Check the Date: Look for the year 1943.
- Color Test: Bronze pennies are reddish-brown; steel ones are silver-colored.
- Magnet Test: Steel sticks to a magnet; bronze does not.
- Weight Test: A genuine bronze penny weighs about 3.11 grams, while a steel one weighs 2.7 grams.
- Authentication: Have your coin verified by grading services like PCGS or NGC.
Other Valuable Lincoln Wheat Pennies
Beyond the 1943 bronze error, several Lincoln Wheat Pennies are worth thousands:
- 1909-S VDB: First year of issue with designer’s initials; extremely rare.
- 1955 Doubled Die: Known for doubling in the date and lettering.
- 1944 Steel Penny: Another error coin produced from leftover steel blanks.
- 1969-S Doubled Die: Clear doubling of inscriptions; very valuable.
All of these can command premium prices, especially in mint condition.
Where Can You Find These Rare Pennies?
Surprisingly, some have been found in:
- Pocket change
- Old jars and drawers
- Coin rolls from banks
- Inherited coin collections
The best part? You don’t need to be a seasoned collector to strike gold — just a careful eye and a bit of luck.
How to Take Care of Valuable Pennies
If you suspect you’ve found a rare Lincoln Wheat Penny, follow these precautions:
- Do not clean it — cleaning can drastically reduce value.
- Handle by the edges to avoid smudging or scratching.
- Store in a soft plastic coin flip or archival holder.
- Get the coin professionally graded for authentication and valuation.
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Final Thoughts: Is the Lincoln Wheat Penny the Most Valuable Coin?
The Lincoln Wheat Penny is more than just a historic piece of currency — it is a cultural artifact, a collector’s dream, and in some cases, a life-changing discovery.
Whether you’re a seasoned coin collector or someone simply curious about that old penny lying around the house, it’s worth taking a closer look. With just a bit of effort, you might uncover one of the rarest and most valuable coins in the world — a coin that could be worth millions.
So the next time you’re handed change at the store or digging through a piggy bank, remember: the Lincoln Wheat Penny you hold might just make you a millionaire.