So you reach into your pocket, take out a penny, and realize it could be worth an eye-popping $1.8 million! Sounds outrageous, right? Well, it is entirely true. The Lincoln Wheat Penny, one of the most coveted coins in American history, has been making headlines for its staggering value. Even more shockingly, some of these rarest pennies may actually be circulating right now, waiting for someone to stumble across them.
What Is A Lincoln Wheat Penny?
Lincoln Wheat pennies were introduced in 1909 to commemorate the 100-year birthday of President Abraham Lincoln. Designed by Victor David Brenner, the coin features Lincoln’s portrait on the obverse and two stalks of wheat on the reverse, signifying prosperity.
This design ran until 1958, when it was replaced by the Lincoln Memorial penny. Most of these pennies are worth only 1 cent, although some rare varieties have turned into treasures for collectors.
What Makes This Penny So Valuable?
Not every Lincoln Wheat Penny is worth a pretty penny, but a few rare ones certainly are- primarily the ‘1943 Bronze Wheat Penny, which is at the top of the list for rarity.
The U.S. Mint was in need of copper during the time of WWII for stamping military supplies and hence transitioned to zinc-coated steel for the production of pennies in 1943. However, a small number of the pennies were mistakenly stepped over leftover copper (bronze) blanks from 1942. These error coins are now considered among the rarest and most valuable coins in American numismatic history.
With such scant mintage, these are the coins that attract the highest bids from collectors. One such specimen even garnered an amount of $1.8 million!
How To Determine Whether You Have A Rare 1943 Bronze Penny
So, if you would like to know how to determine whether your find is really a rare Lincoln Wheat Penny, here’s what to do:
The first step is to check the date. Look for a penny from 1943 but made of copper (bronze), not steel.
Next, use a magnet. Steel pennies will stick to a magnet, while an actual 1943 bronze penny will not.
Next, check the mint mark. The most valuable ones are from the mint in Denver (D) and San Francisco (S).
Finally, have it authenticated. If you suspect you have a rare penny, consult a coin dealer or grading service.
Important Lincoln Wheat Pennies
If you don’t find a 1943 Bronze Penny, don’t worry: other rare Lincoln Wheat Pennies can be worth a lot:
- 1909-S VDB Penny – This penny is a rare first-year penny showing the initials of its designer, Victor D. Brenner82091.
- 1944 Steel Penny – Another mistake coin, struck in steel rather than copper.
- 1955 Double Die Penny – A famous misprint in which the letters appear to be doubled.
Is There A Chance Of A Find?
Most rare pennies are long gone from circulation into coin folders and albums kept by collectors and dealers, but quite a few might still have found their way into people’s pockets. Most people do not really bother too much to check their pennies on random occasions when they are exchanged for other things.
Thus, while a rare penny could sleep well in a piggy bank, it could as easily take a long nap in an empty old jar of spare change or even land in your palm on the next trip to the store.
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So, just remember that before you flick away a penny, it may well be worth a second glance. You never do know about such treasures lying around!
Final Thoughts
The Lincoln Wheat Penny is indeed not just a coin made of copper; it is rather an artifact worth so many bucks! A penny worth $1.8 million in those days would today be rare, though not impossible to find. If this does seem interesting to you as a collector or an average person, then getting a penny worthy of this value might be worth your time.
So next time you catch a glimpse of a penny, take a little time to examine it—you could have an unexpected fortune!
FAQS:
What Makes the 1943 Lincoln Wheat Penny Worth $1.8 Million?
The rarity of the 1943 Lincoln Wheat Penny lies in the fact that the penny was minted in copper rather than steel, which was to be the standard for that year. Hence, it being an extremely rare coin and highly treasured by collectors.
Why did the penny have to be made of steel in 1943?
During World War II, copper was required for military supplies, so the U.S. Mint decided to use steel for the pennies. Still, through an error, some copper blanks were used for the 1943 pennies, and hence there exist rare coins.
How would you recognize the $1.8 million Lincoln Wheat Penny?
The coin will display a 1943 date, which is key to recognizing the error. The main test is that of weighing the coin; a magnet can be used-a steel coin will stick to a magnet, while the copper penny will not.
Is Every Single One of the 1943 Copper Pennies Worth $1.8 Million?
Nope, every coin is valued differently according to their state, degree of rarity, and mint mark. Some have sold for more than $1 million in auction, though!