The Lincoln Wheat Penny Worth $3.5 Million: Have you ever thought that a common coin in your pocket might make you a millionaire? It may sound ridiculous, but a coin called Lincoln Wheat Penny is precisely such an exception. Especially the copper-made 1943 Lincoln Wheat Penny is now worth millions of dollars!
The surprising thing is that its price can go up to as much as about $3.5 million (about Rs 29 crore). The coin is so rare that numismatists from around the world keep a close eye on it all the time. But do you know that even this rare coin could be out in circulation somewhere today? That is, you may already be owning this coin and you may not even be aware of its worth!
If you also want to know why this coin is so special, how to identify it, and what is the ideal way to find it, then read this article completely. There may be a treasure of crores hidden in your next change!
The History Behind the Lincoln Wheat Penny
Lincoln cent was introduced in 1909 when American currency featured its first portrait imagery. Since George Washington took office, American currency abandoned all portraits of human figures until the introduction of the Lincoln cent. Lincoln cent shared its eternal memorial tribute in an appropriate tribute by commemorating Abraham Lincoln in his centennial year of birth.
When President Theodore Roosevelt initiated his bid for more creative U.S. coins, he commissioned Victor David Brenner to create the new cent. The new coin’s front-side design was taken from a Lincoln plaque design that Brenner, an immigrant from Lithuania, had created. Brenner created the Wheat Penny denomination with two wheat stalks that formed a stunning direct design pattern which later people associated with the “Wheat Penny” name.
Production Timeline
The Lincoln Wheat Penny was minted from 1909 to 1958, so it’s one of the longest-running designs in U.S. coinage history. Throughout the nearly 50-year run, these pennies were produced primarily in three mints:
- Philadelphia (no mint mark)
- Denver (D mint mark)
- San Francisco (S mint mark)
The mint mark, when present, is below the date on the obverse. In 1959, the reverse design was changed to the Lincoln Memorial, ending the Wheat Penny series but continuing the Lincoln cent tradition that continues to this day.
Composition Changes
Throughout its existence as a currency, the Lincoln Wheat Penny also saw some changes in composition:
- 1909-1942: 95% copper, 5% zinc and tin
- 1943: Zinc-coated steel (due to war-time copper shortage)
- 1944-1958: 95% copper, 5% zinc (no tin due to continuing shortages)
These composition changes, particularly the 1943 steel cent, created some of the most popular and valuable error coins in U.S. numismatics.
Design Elements of the Lincoln Wheat Penny
Obverse Features
The reverse (tails side) of the Lincoln Wheat Penny features:
- A right-facing profile portrait of Abraham Lincoln
- The motto “IN GOD WE TRUST” arcing above Lincoln’s head
- The letters “LIBERTY” above Lincoln’s face
- The right year
- Mint marks, when present, are located below the year
Reverse Features
The reverse (tails side) depicts:
- Two wheat stalks bordering the coin in the outer rim
- “ONE CENT” and the words “E PLURIBUS UNUM” in the center
- “UNITED STATES OF AMERICA” in the position below “ONE CENT
The wheat stalk design, sculpted by Victor D. Brenner, signifies America’s bountiful harvest and prosperity, a fitting image for the nation’s smallest denomination coin.
Special Features of Lincoln Wheat Penny
| Features | Description |
|---|---|
| Name of Coin | Lincoln Wheat Penny |
| Rarest version | Copper coin of 1943 |
| Estimated price | Up to $3.5 million |
| Reason for rarity | Some coins were made in copper by mistake during wartime |
| Total number of known coins | About 20 |
| Method of identification | It does not stick to magnets |
| Design feature | Lincoln’s picture on the front, two stalks of wheat on the back |
A blunder worth a few crores!
During the war (World War II) years (1943), the Americans had huge shortages of copper. It was needed for wartime hardware and war supplies and arms and for the purpose of cables as well. Under such a circumstance, the United States authorities decided to have all the 1943 coins made of steel instead, thereby conserving the use of copper.
But unfortunately, a few of the copper coins of earlier years got minted accidentally in 1943 also. This was an extremely minimal quantity – merely 20 coins in total.
This mistake renders these coins very scarce. Since in 1943 almost all the coins were steel-coined, but there were some special coins which were stored in copper too. This is why nowadays this coin is no less than treasure for collectors around the globe.
Can your coin be crores? Identify it like this
Now the question comes—if you have a 1943 Lincoln Wheat Penny, then how do you know that it is a real copper coin or a steel coin? There are some easy ways for this:
- Check the date – The coin should have “1943” written on it. If the date is other than that, then it is not a special coin.
- Do a magnet test – A steel coin will adhere to a magnet, yet a copper coin will not. If your 1943 Penny does not stick to a magnet, then it could be the real deal!
- Test the color and weight – A steel coin is light colored and silvery, while a copper coin is reddish-brown in color and weighs 3.11 grams.
- Professional verification – If your coin has passed all these tests, verify it with a professional numismatist.
Be cautious about replica coins!
With such a huge price tag, some people also make replica 1943 copper coins. To test replica coins:
- Some people alter the 1948 coins to “1943” by chiseling them.
- Steel coins are copper-plated so that they look original.
- To view the original coin, check certification from an expert.
Where can you find these scarce coins?
This coin may be lying in a long collection of coins. Apart from this:
- In antique coins stores
- In an old coin piggy bank of a family
- In garage sale or auction
If you also enjoy collecting coins, always check thoroughly each old coin that comes to you. You never know, when you will be gifted with a treasure costing crores!
What to do if you find this coin?
If you are lucky enough to get a genuine 1943 copper Lincoln Wheat Penny, to keep it safe:
- Handle it minimally – pick it up only by the edge so as not to hurt it.
- Keep it safe – keep it in a plastic wrap or a coin box specifically.
- Have it appraised by an expert – have it authenticated by a certified coin expert to find out the coin’s actual value.
The Most Valuable Lincoln Wheat Pennies
Most Wheat Pennies only have their face value but specific coins from certain mint marks or with certain dates or errors may be very valuable. Lincoln Wheat Pennies from these dates are the most prized by Wheat Penny collectors.
Key Dates
- 1909-S VDB – Only 484,000 of these were minted before the VDB lettering was discontinued from production making it the most rare collectible Lincoln Wheat Penny. Wheat Pennies in nice condition can sell for several thousand dollars.
- 1914-D – This Denver branch mint penny is highly sought after by collectors because its low mintage total of 1,193,000 coins especially when in fine condition.
- 1922 Plain – The so-called 1922 Plain pennies resulted when D mint marks were shed from some 1922-D dies that were striking coins that bore no hint of specific mint origin. The absence of Philadelphia penny minting in 1922 makes an errorless coin without a mint mark extremely valuable.
- 1931-S – The 1931-S pennies were halted from being produced in San Francisco during the Great Depression so only 866,000 coins were struck.
Greatest Errors
- 1943 Copper Penny – When the Mint switched to steel cents in 1943 due to wartime copper shortages, a few copper 1942 planchets fell through the cracks into production. These extremely rare error coins fetch over $100,000.
- 1944 Steel Penny – The reverse error was when a few 1944 cents were produced on remaining steel planchets of 1943. These too are very valuable.
- 1955 Doubled Die Obverse – Probably the most recognizable Wheat Penny error, with tremendous doubling on obverse lettering and date. These can cost several thousand dollars even in circulated grades.
Conclusion: A Coin That Can Change Your Fortune!
The 1943 Lincoln Wheat Penny is not only a penny, but a mystery treasure that few people know. It looks like a tiny little thing, but it might be worth a million.
If you liked this story, share it with your friends and family—and who knows, you might become the next millionaire!
So the next time you come across an old coin, take a good look at it—because you might be holding a piece of history in your hand!
FAQ’s
Q. Why is the Lincoln Wheat Penny $3.5 million?
A. The copper 1943 Lincoln Wheat Penny is very valuable because it’s so rare, since pennies back then were primarily made with steel during World War II.
Q. How can I check if I have a rare Lincoln Wheat Penny?
A. Magnet test—give it a try—if your penny 1943 clings to a magnet, it’s steel; otherwise, maybe the mythical copper version.
Q. What is the record highest price paid for a 1943 copper penny?
A. The record sale was $1.7 million, although there are some who feel that one can be sold for as much as $3.5 million.