Many people often overlook pennies, but did you know that a rare Lincoln Wheat Penny is now valued at a staggering $10 million? Yes, you read that right! This small coin, which many ignore or drop in change jars, has become one of the most valuable coins in the world. Surprisingly, some of these rare pennies are still in circulation, meaning you might find one in your pocket change!
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 to honor President Abraham Lincoln on his 100th birth anniversary. It was the first U.S. coin to feature a real person and was designed by Victor David Brenner. The coin shows Lincoln’s side profile on the front and two wheat stalks on the back, which is why it’s also called the “Wheat Penny”.
These pennies were produced until 1958, after which the design was changed to feature the Lincoln Memorial on the reverse side.
Why is this Lincoln Wheat Penny Worth $10 Million?
Not all Wheat Pennies are worth millions. But certain rare versions, like the 1943 Bronze Wheat Penny, are extremely rare because they were mistakenly minted on bronze planchets instead of the usual zinc-coated steel. Only a few of these exist today.
Here’s why it’s so valuable:
- Rarity: Only a handful were ever made, and even fewer survive today.
- Historical mistake: In 1943, due to the war, pennies were supposed to be made from steel to save copper for ammunition. But a small number were accidentally made from bronze.
- High demand from collectors: Rare coins like this are always in demand, making their price skyrocket.
- Condition: Coins in mint or near-mint condition fetch higher prices.
How to Identify a Rare Wheat Penny?
If you have a Lincoln Wheat Penny, here are some tips to check if it’s valuable:
- Check the date: Look for 1943. If it’s made of bronze (brownish color), it could be worth millions.
- Magnet test: Regular 1943 pennies are steel and stick to a magnet. Bronze ones do not stick.
- Look for mint marks: Letters like “D” (Denver) or “S” (San Francisco) below the date can make it even rarer.
- Condition: Coins that are shiny and undamaged are worth more.
If you think you have a rare coin, consult a professional coin appraiser before selling or trading it.
Why Are These Pennies Still in Circulation?
Many of these coins were lost or forgotten in drawers and piggy banks. Some may have been spent unknowingly, and that’s why a few might still be out there in circulation. People rarely check their pennies carefully, so it’s possible that one of these could turn up in everyday transactions!
The story of the $10 million Lincoln Wheat Penny shows how even small, everyday objects can hold great value. While finding one might be like winning a lottery, it’s always worth checking your spare change. Who knows, you might be carrying a treasure in your pocket right now! So, next time you see a Wheat Penny, take a closer look — it might change your life.
FAQ
What makes the Lincoln Wheat Penny worth $12.9 million?
The Lincoln Wheat Penny is worth $12.9 million because of its extreme rarity and historical minting error. In 1943, pennies were supposed to be made of steel to conserve copper for the war, but a few were accidentally made from bronze. These rare bronze coins are highly valuable to collectors.
How can I check if my 1943 penny is valuable?
First, check the date — 1943. Then do a magnet test. If the penny sticks to a magnet, it’s steel and common. If it doesn’t stick and has a brownish color, it might be bronze and very valuable. Always have such coins checked by a professional coin appraiser.
Are all Lincoln Wheat Pennies valuable?
No, not all Wheat Pennies are worth a lot. Most are common and worth a few cents. However, certain years like the 1909-S VDB or error coins like the 1943 bronze penny are extremely valuable.
Can I still find rare Wheat Pennies in circulation?
Yes, although very rare, some valuable Wheat Pennies may still be found in circulation. It’s always a good idea to check your change carefully as these coins sometimes appear unexpectedly.
Where can I get a rare penny appraised?
You can visit a certified coin dealer, professional numismatist, or send it to reputable grading services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) for evaluation.
