When most of us think of a penny, we picture something tossed in a jar, dropped under a couch, or used for exact change. But what if one of those little copper coins could be worth over $3 million?
That’s exactly the case with a rare version of the Lincoln Wheat Penny — and believe it or not, a few of these high-value coins may still be in circulation today.
History
The Lincoln Wheat Penny was first introduced in 1909 to celebrate the 100th birthday of Abraham Lincoln. It was a big deal at the time, as it was the first U.S. coin to feature a real person instead of the usual Lady Liberty design.
Victor David Brenner designed the coin, which shows Lincoln on the front and two stalks of wheat on the back — hence the nickname.
This design remained in circulation until 1958, after which it was replaced with the Lincoln Memorial version. But during its nearly 50-year run, a few special editions slipped through the cracks — and that’s where the mystery begins.
Rarity
So, what makes one of these pennies worth millions? It all comes down to a rare minting error in 1943.
During World War II, copper was needed for ammunition and other military supplies, so the U.S. Mint started producing pennies from zinc-coated steel. They were silver in color and slightly lighter than copper pennies.
However, a few copper blanks from the previous year accidentally made it into the machines, creating a tiny batch of 1943 copper Lincoln Wheat Pennies.
Experts estimate that only around 20 of these rare coins exist — and one of them sold for a jaw-dropping $3,172,500 at a private auction.
Value
Here’s how the Lincoln Wheat Penny’s value breaks down:
| Coin Type | Estimated Value |
|---|---|
| Regular 1943 Steel Penny | $0.10 – $1.50 |
| 1943 Copper Wheat Penny | Up to $3,172,500 |
The value depends on condition, rarity, and demand from collectors. But make no mistake — the copper 1943 penny is the holy grail.
Finding
What’s crazy is that not all of them have been found. Some might still be sitting in coffee cans, piggy banks, or dusty drawers. Since millions of pennies were minted in 1943, it’s not impossible that a few of the rare copper versions are still out there.
Want to know if you might have one? Here’s a quick test: try using a magnet. The steel pennies will stick, but the copper ones won’t. If yours doesn’t stick, it’s worth getting checked by a professional coin appraiser or grading service.
Advice
If you ever stumble across a 1943 Lincoln Wheat Penny that looks like it’s made of copper, don’t spend it! Here’s what to do instead:
- Don’t Clean It: Cleaning can reduce the value.
- Use a Magnet: Check if it sticks — copper won’t.
- Get It Verified: Contact a reputable coin dealer or appraiser.
- Store It Safely: Keep it in a protective sleeve or case.
Even if you don’t have the rare copper version, other old Lincoln Wheat Pennies can still be worth a few bucks if they’re in great condition or have minting errors.
The bottom line? Check your change. That unassuming penny might just make you a millionaire overnight. And if not, it’s still a fun treasure hunt with some fascinating history behind it.
FAQs
What is a 1943 Wheat Penny worth?
If made of copper, it could be worth up to $3,172,500.
How can I test my 1943 penny?
Use a magnet — steel sticks, copper doesn’t.
Why were 1943 pennies made of steel?
Copper was needed for WWII, so steel was used instead.
Who designed the Lincoln Wheat Penny?
Victor David Brenner designed it in 1909.
Are all 1943 pennies valuable?
No, only the rare copper ones have high value.
