Lincoln Wheat Penny: The Rare Lincoln Wheat Penny has become a sensation in the world of coin collecting. With one recently selling for a staggering $17 million, this humble penny is now one of the most valuable coins ever. The most exciting part? Some of these rare coins are still believed to be in circulation. Imagine discovering one in your spare change and instantly becoming a millionaire!
In this article, we’ll explore the history of the Rare Lincoln Wheat Penny, uncover why it’s so valuable, show you how to identify one, and discuss other valuable pennies you should keep an eye out for.
Overview of the Rare Lincoln Wheat Penny
| Key Information | Details |
| Coin Name | Lincoln Wheat Penny |
| First Minted | 1909 |
| Designer | Victor David Brenner |
| Most Valuable Variety | 1943 Bronze Lincoln Wheat Penny |
| Reason for High Value | Minting error with bronze during WWII |
| Recent Auction Record | $17 million |
| Identification Features | 1943 date, reddish-brown color, non-magnetic |
| Other Valuable Versions | 1909-S VDB, 1914-D, 1955 Double Die |
What is the Lincoln Wheat Penny?
The Rare Lincoln Wheat Penny was first introduced in 1909 to commemorate the 100th birthday of Abraham Lincoln. It was the first U.S. coin to feature a real historical figure, replacing the previous design of Lady Liberty. Created by sculptor Victor David Brenner, the coin was produced until 1958 before being replaced by the Lincoln Memorial cent.
The penny’s name comes from the two wheat stalks displayed on its reverse side, symbolizing prosperity and growth. On the front, it showcases Abraham Lincoln’s profile with the inscriptions “In God We Trust,” “Liberty,” and the year of minting. While most Lincoln Wheat Pennies are common, a few rare varieties—like the 1943 bronze penny—are worth a fortune.
Why is This Penny Worth $17 Million?
Not every Rare Lincoln Wheat Penny is worth millions, but the 1943 bronze version stands out due to its unusual origin and limited supply. Here’s why this particular penny is so valuable:
- 1943 Bronze Minting Error
During World War II, copper was needed for military equipment, so the U.S. Mint switched to using steel-coated zinc for pennies. However, a few bronze blanks from 1942 were accidentally used in the 1943 batch, creating a rare minting error. These bronze pennies entered circulation by mistake, making them highly sought after by collectors. - Extremely Rare Supply
Only a small number of bronze 1943 Lincoln Wheat Pennies were ever produced, and even fewer have been found. Their rarity, combined with high demand from collectors worldwide, drives their value into the millions. - Record-Breaking Auction Price
The 1943 bronze penny has consistently set auction records over the years. In 2010, one sold for $1.7 million, and more recently, another fetched a jaw-dropping $17 million, making it the most expensive penny ever sold.
How to Identify the $17 Million Penny
Think you might have a Rare Lincoln Wheat Penny in your coin jar? Here’s how to check:
- Date: Look for the year 1943 on the coin’s front.
- Color: The rare bronze version has a reddish-brown color, unlike the common steel version, which is grayish.
- Magnet Test: Use a magnet—if the penny sticks, it’s steel. If it doesn’t, it might be bronze.
- Mint Mark: Check for a small “D” (Denver Mint) or “S” (San Francisco Mint) below the date. No mint mark indicates it was made in Philadelphia.
If your coin matches these features, you could be holding a life-changing treasure.
Other Valuable Lincoln Wheat Pennies to Watch For
While the 1943 bronze penny is the crown jewel, other Rare Lincoln Wheat Pennies are also worth significant amounts:
- 1909-S VDB Penny: With only 484,000 minted, this coin can be worth over $100,000 due to its limited supply and historical significance.
- 1914-D Penny: Produced in limited quantities, this penny is valued at over $20,000 in good condition.
- 1955 Double Die Penny: A famous minting error caused the date and letters to appear doubled, making this coin highly collectible and worth thousands.
What to Do If You Find One
If you think you’ve found a Rare Lincoln Wheat Penny, follow these steps to ensure its value is preserved:
- Get It Authenticated: Contact a professional coin grading service like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) to verify its authenticity.
- Do Not Clean It: Cleaning a rare coin can damage its surface and lower its value. Leave it as is.
- Consult a Coin Expert: Reach out to reputable coin dealers or auction houses to get an accurate appraisal and explore selling options.
Taking these steps will help you maximize the coin’s value and ensure you receive the best price if you choose to sell it.
FAQs
Why is the 1943 Lincoln Wheat Penny so valuable?
The 1943 bronze Lincoln Wheat Penny is valuable because of a rare minting error during World War II when copper was replaced with steel, making the bronze version extremely rare.
How can I tell if my 1943 penny is the rare bronze version?
Check the coin’s color—it should be reddish-brown. Use a magnet; if it doesn’t stick, it might be the rare bronze version.
Are all Lincoln Wheat Pennies valuable?
No, most Lincoln Wheat Pennies are common. Only specific varieties like the 1943 bronze, 1909-S VDB, and 1955 Double Die are highly valuable.
Where can I get my Lincoln Wheat Penny appraised?
You can have your coin appraised by professional services like PCGS or NGC or consult reputable coin dealers and auction houses.
Is it legal to sell a rare Lincoln Wheat Penny?
Yes, it is perfectly legal to sell rare coins, including the Lincoln Wheat Penny. Make sure to use a trustworthy platform to get the best price.
Final Thoughts
The Rare Lincoln Wheat Penny valued at $17 million is a collector’s dream. With a few still believed to be in circulation, anyone has a chance to find one. So next time you come across an old penny, take a closer look—you might be holding a small fortune!
Have you ever found a rare coin? Share your story in the comments, and don’t forget to explore more articles about valuable collectibles!