Most people don’t think much about pennies. Pennies are often ignored—small, common, and usually tossed into jars without a second thought. But imagine discovering that one specific penny, the Lincoln Wheat Penny, could be valued at as much as $100,000. It sounds unbelievable, but it’s true.
Some rare editions of this everyday coin are now worth thousands. In this article, we’ll uncover the intriguing history of the Lincoln Wheat Penny, what makes it so valuable, and how you might unknowingly have one tucked away in your spare change.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny made its debut in 1909 to celebrate the 100th birthday of President Abraham Lincoln. It replaced the Indian Head Penny and was the first American coin to feature a real person—Lincoln—on its front (obverse).
The back (reverse) shows two wheat ears, giving it the nickname “Wheat Penny,” and symbolizes the nation’s agricultural background.
This design remained in production from 1909 through 1958. After that, the coin’s reverse was changed to depict the Lincoln Memorial. Despite the redesign, collectors still prize the Wheat Penny for its distinct appearance and historical value.
The Rare 1943 Copper Penny Worth $100,000
Of all the Lincoln Wheat Pennies, the 1943 copper penny stands out for its rarity and high value. What makes it special? It was never intended to be produced.
During World War II in 1943, copper was needed for military purposes. To conserve copper, the U.S. Mint switched to making pennies out of zinc-coated steel. However, a few were mistakenly struck with leftover copper blanks from 1942.
These error coins are extremely scarce. If you come across a 1943 penny made from copper instead of steel, it might be worth up to $100,000 or more, especially in excellent condition.
The 1943 copper penny remains one of the rarest and most valuable coins in the hobby of coin collecting, mainly due to its accidental creation.
Why Are These Rare Pennies Still Around?
You might wonder how such a valuable coin could still be found today. Many have already been taken out of circulation or added to collections over the years. But it’s still possible that some are hiding in old jars, drawers, or forgotten piggy banks.
Though very rare, coins like the 1943 copper penny do occasionally surface. That’s why dedicated collectors examine every penny they find—hoping to stumble upon one of these hidden treasures.
How to Identify a Valuable Lincoln Wheat Penny
Curious if the penny in your pocket might be worth more? Here’s what to check:
Check the Year
Certain years are highly collectible. Notable examples include:
- 1909 (especially with the initials “VDB”)
- 1914-D (minted in Denver)
- 1922 (rare if there’s no mint mark)
- 1943 copper (use a magnet—steel sticks, copper doesn’t)
Look for Errors
Printing mistakes can increase value. For instance, the 1955 doubled die penny, which shows doubling in the lettering, is a famous example.
Examine the Condition
The better the condition, the more valuable the coin. A shiny, scratch-free penny typically commands a higher price.
Ask a Professional
If you suspect you’ve found a rare coin, consult a coin dealer. They can verify its authenticity and estimate its worth.
The Lincoln Wheat Penny isn’t just an old coin
It’s a symbol of American history. Some versions—like the 1943 copper penny—are so rare that collectors will pay thousands to own them. With a little luck and close inspection, one of these remarkable coins might be hiding in your loose change or old keepsake box.
Although originally minted as an ordinary one-cent coin, the Lincoln Wheat Penny has transformed into a sought-after collectible. Whether you’re serious about coin collecting or just curious, it’s always a good idea to inspect your pennies. That forgotten coin could turn out to be worth a small fortune.
FAQs
What is a Lincoln Wheat Penny?
The Lincoln Wheat Penny is a U.S. one-cent coin issued from 1909 to 1958. It features Abraham Lincoln on the front and two wheat stalks on the back, symbolizing the nation’s agricultural roots.
Why is the 1943 copper penny worth so much?
It’s valuable because it was mistakenly minted during a time when copper was being conserved for the war. Most 1943 pennies were steel, making the few copper ones extremely rare and worth up to $100,000.
How can I tell if my 1943 penny is made of copper or steel?
Try using a magnet. Steel will be attracted to the magnet, while copper won’t. This is a simple and effective way to test it at home.
Are rare Lincoln Wheat Pennies still in circulation?
Although uncommon, some rare Lincoln Wheat Pennies could still be out there, especially in old coin collections or forgotten jars. Finding one is rare, but not impossible.
Where can I sell a rare penny?
Rare pennies can be sold through coin dealers, auctions, or numismatic websites. It’s best to get a professional appraisal before selling to know the true value.
Susan is a seasoned finance writer with a knack for breaking down complex money topics into clear, actionable advice. With years of experience in personal finance, investing, and market trends, she empowers readers to make smarter financial decisions. Her work has been featured in leading finance blogs and publications, where she combines sharp analysis with relatable storytelling. Whether it’s budgeting, wealth-building, or decoding the latest economic shifts, Susan’s mission is to help people take control of their financial future with confidence.