The Lincoln Wheat Penny, a staple in American currency from 1909 to 1958, is often overlooked in everyday transactions. However, certain rare versions of this coin can be worth a small fortune.
Notably, the 1943 Lincoln Wheat Penny, especially those struck on bronze planchets, can fetch up to $400,000 at auction. Remarkably, these valuable coins are still in circulation today.
Understanding the Lincoln Wheat Penny
Introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny features a portrait of Lincoln on the obverse and two stalks of wheat on the reverse, symbolizing prosperity. This design remained until 1958, when it was replaced by the Lincoln Memorial design.
The 1943 Bronze Lincoln Wheat Penny
During World War II, the U.S. Mint faced a copper shortage and switched to zinc-coated steel for penny production in 1943.
However, a small number of bronze planchets from 1942 remained and were mistakenly used to strike 1943 pennies. These accidental bronze pennies are extremely rare and highly valuable.
Identifying a 1943 Bronze Lincoln Wheat Penny
To determine if you have a valuable 1943 bronze penny, consider the following:
- Date and Mint Mark: Ensure the coin is dated 1943.
- Magnet Test: Use a magnet; if the penny sticks, it’s likely steel. If it doesn’t, it could be bronze.
- Color: Bronze pennies have a reddish-brown hue, while steel pennies are silver-gray.
- Weight: Bronze pennies are heavier than steel ones.
Other Valuable Lincoln Wheat Pennies
Beyond the 1943 bronze penny, other rare Lincoln Wheat Pennies include:
- 1909-S VDB Penny: Features the designer’s initials and can be worth over $100,000.
- 1944 Steel Penny: Some 1944 pennies were mistakenly made of steel instead of copper, making them valuable.
- 1955 Doubled Die Penny: Displays doubled features due to a minting error, increasing its value.
Is the $400,000 Penny Still in Circulation?
Yes, while extremely rare, 1943 bronze pennies are still in circulation. Many people don’t check their pocket change thoroughly, so these coins could still be hiding in old collections, coin jars, or even given as change in a store.
How to Increase Your Chances of Finding a Rare Penny
To enhance your chances of finding a valuable Lincoln Wheat Penny:
- Examine Your Change: Regularly check your pocket change, especially older coins.
- Search Old Collections: Look through old coin collections from relatives or friends.
- Visit Coin Dealers: Engage with local coin dealers who might have rare coins.
- Use Metal Detectors: In areas with historical significance, metal detectors can help find rare coins.
While most Lincoln Wheat Pennies are worth just a few cents, certain rare versions, like the 1943 bronze penny, can be worth up to $400,000. Given that these coins are still in circulation, it’s worth examining your pocket change to see if you have a hidden treasure.
FAQs
What makes the 1943 Lincoln Wheat Penny so valuable?
Its rarity due to being mistakenly struck on bronze planchets during a copper shortage in World War II.
How can I tell if my 1943 penny is bronze or steel?
Use a magnet; if it sticks, it’s steel. If it doesn’t, it’s likely bronze.
Are there other valuable Lincoln Wheat Pennies?
Yes, such as the 1909-S VDB, 1944 steel penny, and 1955 doubled die penny.