The Lincoln Wheat Penny Valued at $700K, Still in Circulation

Have you ever thought that a simple penny in your change jar could be worth a small fortune?

It might surprise you, but one particular Lincoln Wheat Penny has been valued at a staggering $700,000. While this may sound like fiction, it’s absolutely real. A rare version of this humble coin has become a sensation among collectors and coin experts across the globe. Let’s explore what sets this extraordinary penny apart, how to recognize it, and why it’s become a standout treasure in American coin history.

What is the Lincoln Wheat Penny?

The Lincoln Wheat Penny is a legendary U.S. coin first introduced in 1909 and minted until 1958. It features President Abraham Lincoln on the front and two wheat stalks on the reverse, making it an instantly recognizable design. While most of these coins are worth only face value, a few rare types have skyrocketed in worth due to uncommon minting errors or special features. These select coins have become highly desirable for collectors, reaching impressive price tags.

What Makes the $700,000 Lincoln Penny So Rare?

The coin in question is the elusive 1943-S bronze Lincoln Wheat Penny, produced at the San Francisco Mint. In 1943, to preserve copper for World War II needs, the U.S. Mint used zinc-coated steel for penny production. However, a small number of older bronze planchets mistakenly remained in the press and were struck into pennies.

These rare bronze coins weren’t intended for circulation, making their survival and discovery especially significant. One of these coins even fetched $700,000 at auction. Experts believe more could still be in the public’s hands, quietly hiding in everyday change.

How to Identify the $700K Penny

Curious if your penny might be the rare gem? Here’s how to determine whether you’re holding the highly valuable 1943-S bronze penny:

1. Year and Mint Mark
   Look for the year 1943 and the small “S” below the date, indicating it was struck at the San Francisco Mint.
2. Color
   Typical 1943 pennies are steel-colored, while the rare bronze version appears in a copper or brown hue.
3. Magnet Test
   Steel coins will stick to a magnet. Bronze ones will not. If your 1943-S penny isn’t magnetic, that’s a good sign.
4. Weight
   Use a precision scale. Bronze pennies weigh about 3.11 grams, while steel ones are lighter, around 2.7 grams.

If your coin meets these standards, it’s wise to contact an expert service like PCGS or NGC to confirm its authenticity.

Could It Still Be in Circulation?

Absolutely! Despite being minted over 80 years ago, some of these rare coins could still be lurking in everyday places. They might be resting in old savings jars, passed-down coin collections, or even inside forgotten rolls of coins from the bank. Given the sheer number of coins minted during the 1940s, the possibility of uncovering one of these hidden treasures remains alive and exciting.

Why This Matters

Aside from its massive monetary value, the 1943-S bronze penny tells a unique historical story. It’s a reflection of wartime resource conservation and a rare minting oversight. Collectors prize it not just for its rarity but also for its link to a critical period in American history. For numismatists and history buffs, this coin represents both financial opportunity and a fascinating piece of the past.

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