It’s easy to overlook a penny. They gather dust in drawers, fall between car seats, or get dropped on sidewalks without a second thought. But what if one of those forgotten coins was worth a small fortune? One Lincoln Wheat Penny did just that, fetching a staggering $358,000 at auction — turning what was once worth a single cent into the equivalent of a luxury vehicle.
The Iconic Birth of the Lincoln Wheat Penny
The Lincoln Wheat Penny isn’t just a coin — it’s a piece of American history. First minted in 1909 to commemorate the 100th birthday of President Abraham Lincoln, it became the first U.S. coin to feature a real person. Designed by sculptor Victor David Brenner, the coin showcased Lincoln’s profile on the front and two wheat stalks on the back, symbolizing prosperity and the nation’s agricultural roots.
Minted until 1958, the Lincoln Wheat Penny was part of daily life for generations — yet today, some rare versions are making headlines.
The 1943 Bronze Penny: A Wartime Coin Worth Nearly $400K
In 1943, America was in the thick of World War II. To conserve copper for military manufacturing, the U.S. Mint began producing pennies out of zinc-coated steel. But due to a production oversight, a handful of leftover bronze blanks from 1942 were mistakenly used — resulting in the legendary 1943 Bronze Penny.
Only a few of these ultra-rare coins exist. One pristine specimen shocked collectors when it sold for $358,000, and some have reached even higher prices. What’s wild is that a simple test can help spot one:
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Use a magnet. If your 1943 penny sticks, it’s steel. If it doesn’t, and it looks reddish-brown like a typical penny, you may have something special.
The Short-Lived 1909-S VDB Penny: A Designer’s Mark Turns Rare
Another legendary coin is the 1909-S VDB penny — the first of the Lincoln Wheat Pennies. Designed by Brenner, his initials “VDB” were prominently placed on the back. Critics complained, and the Mint quickly removed the initials. But not before the San Francisco Mint produced just 484,000 of them.
Also Read – The Lincoln Wheat Penny Valued at $4.8 Million, Still in Circulation
Today, these coins are collector gold. A well-preserved 1909-S VDB penny can sell for $80,000 or more, thanks to a quirky combination of artistry, controversy, and timing.
Other Valuable Wheat Penny Gems
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1931-S Penny
Minted during the Great Depression, only 866,000 of these were made. That limited production turned an ordinary coin into a rare find. Top-condition examples now sell for tens of thousands of dollars. -
1955 Doubled Die Penny
An error at the Mint caused the date and lettering on these coins to appear doubled. Far from being scrapped, the coins entered circulation — and now sell for over $80,000 in excellent condition. -
1944 Steel Penny (the reverse of 1943)
When copper returned in 1944, a few steel planchets from the prior year slipped through. These 1944 steel pennies are nearly as rare as the 1943 bronze — and just as valuable.
Why Are Some Pennies Worth a Fortune?
Several key factors drive the value of Lincoln Wheat Pennies:
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Rarity: Limited mintage or unexpected mint errors increase value.
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Condition: Mint or near-mint condition coins are always more desirable.
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Historical context: Wartime coins, depression-era issues, and design changes connect collectors to pivotal moments in American history.
Fun Fact: Pennies in Outer Space?
In 2014, a Lincoln penny was sent to Mars aboard NASA’s Curiosity Rover. It serves as a calibration tool for the rover’s cameras — proof that even one-cent coins can reach other worlds.
Also Read – The Lincoln Wheat Penny Valued at $130,000, Still in Circulation
Frequently Asked Questions (FAQ)
Q: How can I tell if I have a valuable Lincoln Wheat Penny?
A: Start by checking the date and mintmark. Look for years like 1909-S, 1943 (bronze), 1955 (doubled die), and 1931-S. Use a magnet for 1943 pennies — bronze ones won’t stick.
Q: Are all 1943 pennies valuable?
A: No. The majority were made from steel, which are common and usually worth under $1. Only the rare bronze 1943 pennies are valuable.
Q: What’s the best way to store my pennies?
A: Use coin holders or acid-free sleeves. Keep them in a cool, dry place to prevent corrosion. Avoid cleaning them — it reduces their value.
Q: Where can I sell rare pennies?
A: Auctions, coin shows, certified coin dealers, or platforms like Heritage Auctions and PCGS are great options. Get your coin graded first for best results.
Q: Should I check my old coin jars?
A: Absolutely! Many rare coins were circulated for years before their value was realized. You might have a treasure hiding in plain sight.
Final Thoughts
That penny you almost tossed aside might be worth more than your monthly rent. The Lincoln Wheat Penny teaches us that even the smallest objects can hold massive value — in both dollars and history. So next time you’re sorting spare change, take a closer look. You might just strike copper gold.