Imagine finding a penny in your pocket that could make you a millionaire! One of the rarest coins in U.S. history, the Lincoln Wheat Penny, has been valued at an incredible $2.1 million—and some of these rare pennies are still out there in circulation.
If you’re lucky enough to come across one, you could be holding a life-changing fortune in your hands!
The Legacy of the Lincoln Wheat Penny
Introduced in 1909 to commemorate President Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny features Lincoln’s profile on the obverse and two wheat stalks on the reverse, hence the name “Wheat Penny.” This design was minted until 1958, making it a staple in American currency for nearly five decades.
The $2.1 Million Penny: A Minting Anomaly
The extraordinary value of this particular Lincoln Wheat Penny stems from a rare minting error during World War II. In 1943, to conserve copper for the war effort, the U.S. Mint switched to producing pennies from zinc-coated steel.
However, a few pennies were mistakenly struck on leftover bronze planchets from previous years. These rare 1943 bronze pennies are highly sought after by collectors.
Identifying the Rare 1943 Bronze Lincoln Wheat Penny
If you’re curious whether you have one of these rare pennies, here are key characteristics to look for:
- Date and Material: A 1943 penny that appears copper-colored rather than the typical steel gray.
- Magnetic Test: Steel pennies are magnetic; a genuine 1943 bronze penny will not stick to a magnet.
- Weight: A bronze penny weighs about 3.11 grams, whereas a steel penny weighs approximately 2.7 grams.
- Mint Marks: Look for a small letter under the date indicating where it was minted:
- No mark: Philadelphia
- ‘D’: Denver
- ‘S’: San Francisco
Notable Sales of the 1943 Bronze Penny
The value of a 1943 bronze Lincoln Wheat Penny can vary based on its condition and mint mark. Here are some notable sales:
| Year | Mint Mark | Sale Price |
|---|---|---|
| 2010 | ‘D’ | $1.7 million |
| 2019 | ‘S’ | $504,000 |
| 2023 | None | $372,000 |
Other Valuable Lincoln Wheat Pennies
While the 1943 bronze penny is the most renowned, other Lincoln Wheat Pennies are also valuable:
- 1909-S VDB: The first year of issue with designer Victor David Brenner’s initials; valued between $1,000 and $100,000.
- 1914-D: A low mintage year from the Denver Mint; can fetch $5,000 to $150,000.
- 1955 Double Die: Features a noticeable doubling of the date and lettering; valued between $1,000 and $50,000.
The allure of discovering a rare 1943 bronze Lincoln Wheat Penny adds excitement to the mundane act of handling loose change.
While the odds are slim, the potential reward makes it worthwhile to examine your pennies closely. Who knows? You might just find a piece of history worth $2.1 million in your pocket.
FAQs
How many 1943 bronze Lincoln Wheat Pennies are known to exist?
Approximately 20 to 30 of these rare pennies are known today, making them extremely scarce and valuable.
What should I do if I think I have a 1943 bronze penny?
If you believe you’ve found one, it’s advisable to have it authenticated by a professional coin grading service, such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
Are there counterfeit 1943 bronze pennies?
Yes, due to their high value, counterfeits exist. Some steel pennies are coated to appear bronze. Authenticity can be verified through weight, magnetism tests, and professional grading services.