The Lincoln Wheat Penny, minted from 1909 to 1958, is a cherished piece of American numismatic history. While most of these pennies are common and hold minimal value, certain rare varieties have fetched astonishing prices at auctions.
Notably, a specific 1943 copper Lincoln Wheat Penny has been valued at $1.8 million and is believed to still be in circulation.
Understanding the Lincoln Wheat Penny
Introduced in 1909 to commemorate Abraham Lincoln’s centennial birth anniversary, the Lincoln Wheat Penny features a portrait of Lincoln on the obverse and two stalks of wheat on the reverse.
This design remained until 1958, when it was replaced by the Lincoln Memorial design.
The 1943 Copper Lincoln Wheat Penny
During World War II, the U.S. Mint transitioned from copper to zinc-coated steel for penny production to conserve copper for wartime needs.
However, a few 1943 pennies were mistakenly struck on leftover copper planchets from 1942, resulting in the rare 1943 copper Lincoln Wheat Penny.
Why Is It So Valuable?
The 1943 copper Lincoln Wheat Penny is exceptionally rare due to its unintended composition. Only about 20 to 30 genuine 1943 copper pennies are known to exist, making them highly sought after by collectors. One such penny was sold for $1.8 million at a private auction, underscoring its immense value.
Identifying a 1943 Copper Lincoln Wheat Penny
To determine if you possess a 1943 copper Lincoln Wheat Penny, consider the following steps:
- Color: Genuine 1943 copper pennies have a reddish-brown hue, unlike the silver-gray steel pennies from that year.
- Magnet Test: A real 1943 copper penny will not attract a magnet, whereas a steel penny will.
- Weight: The 1943 copper penny weighs approximately 3.11 grams, while the steel penny weighs about 2.7 grams.
- Mint Mark: Check for mint marks such as “D” for Denver or “S” for San Francisco.
- Professional Authentication: For certainty, have the coin authenticated by a reputable grading service like PCGS or NGC.
Other Valuable Lincoln Wheat Pennies
While the 1943 copper penny is the most valuable, other Lincoln Wheat Pennies are also highly prized:
1. 1909-S VDB
Minted in limited numbers, this penny features the designer’s initials and can be worth between $1,000 to $100,000.
2. 1914-D
Known for its scarcity, this penny can fetch between $5,000 to $150,000.
3. 1922 No D
A minting error missing its “D” mint mark, valued at $5,000 to $50,000.
4. 1955 Double Die
Features a doubled image due to a die error, worth $1,000 to $50,000.
5. 1944 Steel
A rare error where steel planchets were mistakenly used, valued at $50,000 and above.
While the prospect of finding a 1943 copper Lincoln Wheat Penny in your pocket change is rare, it’s not impossible. Given their substantial value, it’s worthwhile to examine your pennies carefully. If you suspect you have a rare coin, seek professional authentication to confirm its authenticity and value.
FAQs
How many 1943 copper Lincoln Wheat Pennies exist?
Approximately 20 to 30 genuine 1943 copper pennies are known to exist.
What is the value of a 1943 copper Lincoln Wheat Penny?
Values can range from $200,000 to $1.8 million, depending on condition and provenance.
How can I tell if my 1943 penny is copper or steel?
Perform a magnet test; a copper penny will not attract a magnet, whereas a steel penny will.