The Lincoln Wheat Penny is one of the most famous and valuable coins in American history. While most of these coins are worth just a few cents, some rare versions can be worth an astonishing amount of money. Among them, a special Lincoln Wheat Penny is valued at $1 million and is still believed to be in circulation.
History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to honor the 100th birthday of President Abraham Lincoln. Designed by Victor David Brenner, this coin replaced the Indian Head Cent and became the first U.S. coin to feature a real historical figure. The coin’s front side, or obverse, displays Lincoln’s portrait, while the reverse features two stalks of wheat, giving it the name “Wheat Penny.”
What Makes This Penny Worth $1 Million?
While most Lincoln Wheat Pennies are common, a few rare versions have become extremely valuable. The most expensive ones include:
- 1943 Copper Lincoln Wheat Penny – During World War II, the U.S. Mint switched from copper to zinc-coated steel to save metal for the war effort. However, a few copper pennies were mistakenly made in 1943. These rare errors are worth a fortune today.
- 1909-S VDB Penny – This version, produced in San Francisco, includes the initials “VDB” (for Victor David Brenner) on the reverse. Only a limited number were made, making them highly valuable.
- 1955 Double Die Penny – This error coin has a noticeable doubling effect on the lettering, making it one of the most sought-after Lincoln Wheat Pennies.
Among these, the 1943 Copper Lincoln Wheat Penny is the most valuable, with some selling for over $1 million.
How Did These Rare Pennies Enter Circulation?
The rare 1943 Copper Wheat Pennies were not intentionally made. Experts believe that a few copper blanks from 1942 were accidentally left in the coin press and were struck with the 1943 design. These pennies were released into circulation and later discovered by collectors. Because they were mixed in with millions of regular steel pennies, some may still be out there, waiting to be found.
How to Identify a Rare Lincoln Wheat Penny
If you want to check if you have a valuable Lincoln Wheat Penny, look for these key features:
- Date and Metal Type – The 1943 penny should be made of steel, not copper. If you find a 1943 penny that appears to be copper, it could be worth a fortune.
- Magnet Test – Steel pennies will stick to a magnet, while copper ones won’t. If your 1943 penny does not stick to a magnet, you might have a rare copper version.
- Mint Mark – Coins from the Philadelphia Mint do not have a mint mark, while those from San Francisco (S) and Denver (D) do. The rarest versions often come from these locations.
- Lettering Errors – Some valuable Wheat Pennies, like the 1955 Double Die Penny, have doubled or misaligned letters.
Could This Penny Still Be in Circulation?
It is possible that some of these rare pennies are still in circulation. Over the years, many have been discovered in everyday transactions, in old piggy banks, and even in change from stores. Since people often overlook pennies, a valuable coin could still be hiding in plain sight.
Where to Sell a Rare Lincoln Wheat Penny
If you think you have a valuable Lincoln Wheat Penny, here’s what you should do:
- Verify Authenticity – Take your coin to a professional coin dealer or grading service, such as PCGS or NGC, to confirm its authenticity.
- Check Auction Houses – Many rare coins are sold at auctions, where collectors bid for them. Auctions like Heritage Auctions and Stack’s Bowers often deal with valuable pennies.
- Consult Online Coin Dealers – Websites like eBay, Coin World, and Numismatic News provide platforms for selling rare coins.
Conclusion
The idea that a Lincoln Wheat Penny worth $1 million is still in circulation excites coin collectors and everyday people alike. If you come across an old Wheat Penny, take a closer look—you might be holding a hidden treasure. Whether you find one in your pocket change or an old collection, this rare coin proves that even the smallest piece of history can have incredible value. Keep checking your coins, because you never know—you might be the next lucky person to discover a million-dollar penny!
Disclaimer: The prices mentioned for rare coins, including the Lincoln Wheat Penny, are not guaranteed and may not be entirely accurate due to market fluctuations and varying appraisals.
Disclaimer: This article is written for informational purposes only. We do not guarantee its completeness or accuracy, please confirm with official sources.