For coin collectors and enthusiasts, rare coins hold a special value. One such coin, the Lincoln Wheat Penny, has shocked the world with its staggering value of $17 million. What’s even more surprising is that this rare penny is still believed to be in circulation. If you are lucky, you might just find one in your pocket change.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first introduced in 1909 to honor President Abraham Lincoln on his 100th birth anniversary. It was the first U.S. coin to feature a real historical figure. Designed by Victor David Brenner, this penny remained in circulation until 1958 before being replaced by the Lincoln Memorial cent in 1959.
The coin gets its name from the two wheat stalks on the reverse side, which symbolize prosperity and growth. The obverse side features a portrait of Lincoln along with the inscriptions “In God We Trust,” “Liberty,” and the year of minting.
Why is This Penny Worth $17 Million?
Not all Lincoln Wheat Pennies are valuable, but certain rare varieties can fetch millions. The most expensive and rarest of them all is a 1943 Lincoln Wheat Penny made of bronze instead of steel.
1. The Minting Error of 1943
During World War II, the U.S. Mint switched from copper and bronze to steel-coated zinc to preserve copper for wartime needs. However, a few bronze blanks from 1942 accidentally got mixed into the 1943 batch, resulting in a rare error coin. These pennies were mistakenly struck in bronze and later entered circulation.
2. Extremely Limited Supply
Only a handful of these 1943 bronze pennies were ever produced, and even fewer have been found. The limited number makes them incredibly valuable to collectors.
3. Auction Record-Breaking Value
Over the years, the 1943 bronze Lincoln Wheat Penny has broken records at auctions. In 2010, one sold for $1.7 million, and later, another fetched an astonishing $17 million, making it the most expensive penny ever sold.
How to Identify the $17 Million Penny?
If you want to check your pocket change for this rare coin, here are a few things to look for:
- Date: The coin should be from 1943
- Material: A genuine bronze penny has a reddish-brown color, unlike the steel version, which is grayish.
- Magnet Test: A steel penny sticks to a magnet, but a bronze one does not because copper and bronze are non-magnetic.
- Mint Mark: The coin could have a small “D” (Denver) or “S” (San Francisco) below the date, or no mint mark at all (Philadelphia Mint).
Are There Other Valuable Lincoln Wheat Pennies?
Apart from the 1943 bronze penny, there are several other Lincoln Wheat Pennies that are valuable, including:
- 1909-S VDB Penny – Only 484,000 were minted, making it one of the rarest pennies. Some are worth over $100,000.
- 1914-D Penny – Limited production and high demand make it worth $20,000+ in good condition.
- 1955 Double Die Penny – A famous minting error caused the date and letters to appear doubled, making it highly collectible and worth thousands.
What to Do If You Find One?
If you suspect that you have a 1943 bronze penny, follow these steps:
- Verify Authenticity – Get it checked by a professional coin grading service like PCGS or NGC.
- Avoid Cleaning It – Never clean a rare coin, as it can reduce its value.
- Consult Collectors or Auction Houses – Reach out to coin dealers or auction houses to determine its worth.
Conclusion
The Lincoln Wheat Penny valued at $17 million is one of the most exciting discoveries in numismatics. Though rare, these pennies are still out there, waiting to be found. If you ever come across an old penny from 1943, take a closer look—it might just be a life-changing treasure! Happy coin hunting!
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.