Did you know a simple Lincoln Wheat Penny in your pocket could be worth up to $770,000? That’s right—some rare pennies, especially the 1943 Bronze Lincoln Wheat Penny, have collectors and everyday people scrambling to check their change. But what makes these pennies so valuable, and how can you tell if you have one?
This guide will walk you through identifying valuable Lincoln Wheat Pennies, why they’re worth so much, and where to verify their authenticity. Whether you’re a seasoned collector or just starting, you might be holding a small fortune without even knowing it!
History
The Lincoln Wheat Penny was introduced in 1909 to celebrate Abraham Lincoln’s 100th birthday. Designed by Victor David Brenner, it became the first U.S. coin to feature a real person.
- Obverse (Front): Displays Lincoln’s portrait.
- Reverse (Back): Features two wheat stalks with “One Cent” in the center.
- Minting Years: 1909 – 1958.
- Mint Marks: Philadelphia (no mint mark), Denver (D), San Francisco (S).
Though millions were produced, certain variations are incredibly rare due to limited mintage, errors, or unusual materials.
Value Factors
Coins with production mistakes or limited mintage are more valuable. The fewer there are, the higher the price collectors are willing to pay.
Metal Composition Changes
- 1909-1942: 95% copper, 5% tin and zinc.
- 1943: Switched to zinc-coated steel due to World War II.
- 1944-1958: Copper returned, but some 1944 pennies were accidentally minted in steel.
These anomalies are what make certain pennies worth tens or even hundreds of thousands of dollars.
The $770K Penny
The 1943 Bronze Lincoln Wheat Penny is one of the most valuable coins in existence, fetching up to $770,000 at auction.
Why Is It Rare?
In 1943, pennies were supposed to be made from steel to conserve copper for the war. However, a few leftover bronze blanks from 1942 were mistakenly used, creating an ultra-rare coin.
How to Identify It
- Check the Date: Look for 1943.
- Magnet Test: Steel pennies are magnetic; bronze pennies are not.
- Weigh It: A bronze penny weighs 3.11 grams, while a steel penny weighs 2.7 grams.
- Color Check: Bronze pennies have a reddish-brown tone, unlike the silver-colored steel pennies.
Where to Get It Verified?
If you think you have a rare penny, get it authenticated by a professional grading service:
- Professional Coin Grading Service (PCGS)
- Numismatic Guaranty Corporation (NGC)
- Local coin dealers
Other Valuable Pennies
- Why It’s Rare: The designer’s initials, “VDB,” were removed shortly after minting.
- How to Spot It: Look for a small “S” mintmark below the date and “VDB” on the reverse.
1955 Double Die Penny ($1,500 – $50,000)
- Why It’s Rare: A minting error caused doubling in the letters and numbers.
- How to Spot It: Look for double-stamped letters in Liberty and In God We Trust.
1944 Steel Penny ($100,000+)
- Why It’s Rare: Some steel blanks from 1943 were mistakenly used in 1944.
- How to Spot It: Check if it’s magnetic—1944 pennies should not be.
Where to Look
You could find a rare penny in:
- Pocket change
- Old coin jars
- Family heirlooms
- Estate & garage sales
- Online auctions (eBay, Heritage Auctions)
Pro Tip
Buy bank coin rolls and search through them carefully. You never know what you might find!
If you ever come across a Lincoln Wheat Penny, don’t ignore it—you could be holding a small fortune in your hand. Keep an eye out, and happy hunting!
FAQs
How much is a 1943 bronze penny worth?
A genuine 1943 bronze Lincoln penny can be worth up to $770,000.
How do I check if my 1943 penny is real?
Use a magnet—if it sticks, it’s steel. A real bronze version is non-magnetic.
What makes the 1909-S VDB penny valuable?
Its low mintage and the removal of the ‘VDB’ initials make it rare.
Can I find valuable pennies in circulation?
Yes, rare pennies still appear in pocket change and coin rolls.
Where can I sell a rare Lincoln Wheat Penny?
Sell through PCGS, NGC, coin dealers, or online auction sites.
