The Lincoln Wheat Penny, introduced over a century ago, is one of the most desirable coins in the numismatic world.
In 2019, a collector spent $870,000 at an auction to acquire a rare 1943 Bronze Lincoln Wheat Penny, cementing its status as one of the most expensive pennies ever sold.
However, there have been speculative claims about a $300 million Lincoln Wheat Penny still in circulation, but no verified reports confirm this.
Similarly, rumors of a $5 million Wheat Penny remain unfounded, with professional coin grading organizations yet to authenticate such a coin. Some pennies with rare minting errors are indeed valuable, but no official records validate these exaggerated price tags.
The Most Valuable Lincoln Wheat Penny Ever Sold
Among all Lincoln Wheat Pennies, the 1943 Bronze Wheat Penny holds the record for the highest auction price.
In 2010, this extraordinary coin fetched $1.7 million, making it one of the most sought-after errors in American coinage history. The reason behind its high value lies in a rare minting mistake—it was struck using bronze, rather than the usual zinc-coated steel.
Why Is the 1943 Bronze Lincoln Penny So Special?
The uniqueness of the 1943 Bronze Wheat Penny stems from its composition and rarity.
- In 1943, due to wartime metal shortages, pennies were minted using steel coated with zinc.
- A handful of bronze blanks (from previous years) were mistakenly used, resulting in a rare batch of 1943 bronze pennies.
- These coins are extremely scarce, with only a few known to exist today.
| Coin Name | Composition | Year | Auction Price |
|---|---|---|---|
| 1943 Bronze Lincoln Penny | Bronze | 1943 | $1.7 million |
| 1943 Steel Lincoln Penny | Zinc-coated steel | 1943 | $100 – $500 |
| 1909-S VDB Lincoln Penny | Copper | 1909 | Up to $100,000 |
The History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to celebrate the 100th anniversary of Abraham Lincoln’s birth. Designed by Victor David Brenner, it was the first U.S. coin to feature a president’s portrait.
Design Elements
- Obverse: Features Abraham Lincoln’s profile.
- Reverse: Displays two wheat stalks, symbolizing prosperity and abundance.
- The reverse design remained in place until 1958, after which it was replaced with the Lincoln Memorial design.
Even More Valuable Coins Exist
While the 1943 Bronze Wheat Penny is one of the priciest pennies, some coins hold even higher values. One such example is the legendary 1933 Double Eagle, which commands an astounding price tag.
The 1933 Double Eagle: A Coin Worth $18.9 Million
- Minted in 1933, this coin features an unusual design where the eagle appears to have two tails.
- Most of these coins were recalled and melted down by the U.S. Treasury.
- Only 12 coins remain in existence today.
- In 2021, one privately owned specimen was auctioned for $18.8 million to an anonymous buyer.
The Lincoln Wheat Penny has cemented its place in history as one of the most fascinating and valuable American coins.
While the 1943 Bronze Penny is among the most sought-after, other coins, like the 1933 Double Eagle, hold record-breaking values. If you have old pennies in your collection, take a closer look—you might be holding a hidden fortune in your hands!
FAQs
1. How do I know if I have a valuable Lincoln Wheat Penny?
Look for rare dates, errors, and mint marks. The 1943 Bronze Penny, the 1909-S VDB Penny, and error coins are among the most valuable.
2. How much is a regular 1943 Steel Penny worth?
The 1943 Steel Penny, though common, can be worth between $100 and $500, depending on its condition.
3. What makes the 1943 Bronze Wheat Penny rare?
This penny was accidentally struck using bronze instead of the wartime steel, making it one of the rarest and most valuable U.S. coins.