Lincoln Wheat Penny in Your Pocket Be Worth $950K? : Every now and then, a seemingly ordinary object turns out to be an extraordinary treasure. For coin collectors and everyday people alike, one such hidden gem might be sitting unnoticed in a pocket, a jar of spare change, or an old piggy bank. We’re talking about the humble Lincoln Wheat Penny—and yes, in rare cases, it could be worth up to $950,000.
What Is a Lincoln Wheat Penny?
First minted in 1909 to honor the 100th anniversary of President Abraham Lincoln’s birth, the Lincoln Wheat Penny (or “Wheat Cent”) features Lincoln’s profile on the obverse and stylized wheat stalks flanking the words “ONE CENT” on the reverse. It was minted until 1958, when the reverse design changed to the Lincoln Memorial.
While many Wheat Pennies are only worth a few cents over face value, certain rare varieties and errors are worth a fortune—including one that sold for nearly $1 million.
The Penny That Fetched $950,000
In the world of coin collecting, few stories are more iconic than that of the 1943 Bronze Lincoln Wheat Penny. During World War II, the U.S. Mint produced pennies using steel coated with zinc to save copper for the war effort. However, a small number of bronze planchets (used in 1942) accidentally got mixed into the production.
These error coins—the 1943 Bronze Wheat Pennies—are among the most valuable coins ever made for circulation. Only 10 to 20 authentic examples are known to exist. One specimen, graded MS-63 Red-Brown by PCGS, sold at auction for a staggering $950,000 in 2010.
Why Is It Worth So Much?
The value of this rare penny comes down to a few key factors:
- Accidental Minting: The 1943 bronze penny is a true mint error, never intended to be produced.
- Incredible Rarity: With fewer than two dozen known, it’s one of the rarest U.S. coins.
- Historical Context: Minted during World War II, it represents a fascinating moment in American history.
- Condition: Coins that are uncirculated or in mint-state condition command the highest prices.
- Collector Demand: The combination of rarity, story, and nostalgia makes this penny a collector’s dream.
Could You Have One?
Yes—but don’t get your hopes too high just yet. While incredibly rare, a few examples of the 1943 bronze penny have been found in circulation, at estate sales, and in inherited coin collections. That means your penny jar might actually hold a small fortune—if you’re lucky.
To check:
- Examine the Date: Look for 1943 on a penny that looks bronze or copper-colored (not silver-gray like the steel cents).
- Test with a Magnet: Steel cents are magnetic; a real 1943 bronze penny is not.
- Weigh It: Bronze pennies weigh about 3.11 grams; steel cents weigh closer to 2.7 grams.
- Seek Professional Help: If your penny seems promising, have it authenticated by a grading service like PCGS or NGC.
Other Lincoln Pennies Worth Big Money
The 1943 bronze isn’t the only valuable Lincoln Wheat Penny. Here are a few others that can fetch thousands:
- 1909-S VDB: Worth up to $50,000 in high grades.
- 1914-D: Rare and in demand, can be worth over $10,000.
- 1922 No D: A Denver-minted coin missing its mint mark—up to $20,000 in top condition.
- 1955 Doubled Die: Famous for its dramatic doubling, worth thousands even in circulated condition.
Frequently Asked Questions (FAQs..)
Q1: Why is a 1943 Lincoln Wheat Penny worth so much?
A: In 1943, pennies were supposed to be made of steel due to wartime copper shortages. A small number were accidentally struck on bronze (copper-based) planchets left over from 1942. These rare error coins are highly valuable, with one selling for $950,000.
Q2: How can I tell if I have a valuable 1943 bronze penny?
A: Check for the following:
- Bronze color (not silver/gray like steel cents)
- Non-magnetic (use a magnet—steel cents stick, bronze ones don’t)
- Weight around 3.11 grams
If yours checks all these boxes, have it authenticated by a professional coin grading service.
Q3: What is a Lincoln Wheat Penny?
A: It’s a one-cent coin minted from 1909 to 1958 featuring Abraham Lincoln on the front and wheat stalks on the back. They’re widely collected, especially early dates and rare varieties.
Q4: Are all 1943 pennies valuable?
A: No. Most 1943 pennies were made of steel and are worth 5 to 75 cents. Only the rare bronze/copper versions—fewer than 20 known—are worth thousands to hundreds of thousands of dollars.
Final Thoughts: Don’t Dismiss the Penny
Though we often overlook them, pennies can hold surprising value. The story of the $950,000 Lincoln Wheat Penny proves that history, rarity, and a bit of luck can turn pocket change into a life-changing discovery.
So before you toss that old penny aside or dump your coin jar at the bank, take a second look—that little Lincoln might just be your lucky break.
Want help identifying rare pennies in your collection? Ask for our free guide to valuable Lincoln Wheat Cents.
