Wheat Penny Worth More Than $125K! – Imagine rummaging around for pocket change and finding a penny worth $125,000! Sounds like something out of a story, right? But true, rare Lincoln Wheat Pennies are still out there, and if you’re lucky, one may roll your way. Most people would not have an inkling that some of these old pennies were and are worth some great money – treasures hidden in everyday life.
What does the Lincoln Wheat Penny mean?
In 1909 the Lincoln Wheat Penny was able to enter circulation in honor of what would have been President Abraham Lincoln’s 100th birthday. This was the first coin in the United States to show a real person, thus replacing the Indian Head Cent.
The penny was designed by Victor David Brenner, and was in use until 1958, when it was superseded by the Lincoln Memorial design.
What’s so special about that penny? Well, it was an error in the minting that made it special. The United States Mint stopped using copper for pennies in 1943, during the World War, because metal was needed for wartime supplies.
Pennies were manufactured from steel and coated with zinc. However, a few leftover copper blanks from 1942 accidentally got struck into 1943 pennies. These rare mistakes have become among the most sought-after coins in history.
1943 copper pennies are a rare breed,
so here is how to tell if yours is one:
- Color check – A genuine 1943 copper penny will be distinctly reddish-brown in color, while the common 1943 steel penny will be in silver or gray.
- Magnet test – Copper pennies will not be attracted by a magnet, but steel ones will. If your 1943 penny will not stick to one, it could be the copper version, a highly prized rarity.
- Carefully inspect the date – Is your penny actually a 1943 penny? Some people have been known to doctor 1948 pennies to masquerade as 1943 pennies, so be wary.
- Get a second opinion – Should you feel that you have a rare coin, have it authenticated through a professional coin grading service like PCGS or NGC.
Other Valuable Lincoln Wheat Pennies
- The 1943 Copper Penny isn’t the only valuable Wheat Penny out there. Here are a few others that could be worth serious cash:
- 1909-S VDB Lincoln Penny – This was the first year of the Lincoln Penny, and coins with designer Victor David Brenner’s initials (V.D.B.) on the back are rare. If it has the “S” mint mark, it can be worth up to $50,000.
- 1944 Steel Penny – In another wartime mix-up, some 1944 pennies were accidentally struck in steel instead of copper. These are just as rare as the 1943 Copper Penny and can sell for over $100,000.
- 1955 Doubled Die Penny – This penny has a noticeable double-printed date and lettering, making it a favorite among collectors. A well-preserved one can be worth up to $15,000.
Some think it is crazy, but rare Lincoln Wheat Pennies still occasionally show up in circulation. Many people are unaware of their value and will spend them like regular pennies. So it is worth checking your loose changes, old piggy banks, or family coin collections for an interesting surprise.
Conclusion
The Lincoln Wheat cent may be a lowly penny, but rare versions like the 1943 copper penny can make one a small fortune. If you ever find an old penny, stop and look at it for an instance—you may really be sitting on a hidden treasure!
FAQS:
Why is the Lincoln Wheat Penny reputed to be worth $125,000?
It is one of the coins that is so much valuable because of its extreme rarity, an event of historiography, an error in minting, and its high demand among collectors.
How do I know if it’s a $125,000 Lincoln Wheat Penny?
Search of specific years such as 1909-S VDB, 1914-D, or 1944 Steel Wheat Penny. Look for mintmarks, double die errors, and odd metal compositions.
Is the $125,000 Lincoln Wheat Penny still in circulation?
Yes, a few extremely rare Lincoln Wheat pennies circulate, but they are often misidentified as a regular penny.