The Lincoln Wheat Penny Worth $1.7 Million – In the world of numismatics (that’s fancy talk for coin collecting), few stories are as thrilling as that of the rare 1943 bronze Lincoln Wheat Penny — a coin once thought to be impossible, yet one sold for a jaw-dropping $1.7 million. It’s the kind of story that sparks hope in every person who dumps out a jar of pennies, wondering if they might be sitting on a forgotten treasure.
A Coin Designed to Make History
Introduced in 1909, the Lincoln Wheat Penny wasn’t just a new coin — it marked a shift in U.S. coinage. For the first time, a real person (President Abraham Lincoln) was honored on a circulating coin. Designed by Victor D. Brenner, the obverse featured Lincoln’s profile, while the reverse carried two stalks of wheat, symbolizing national prosperity. This simple but powerful design remained in circulation until 1958, when it was replaced by the Lincoln Memorial reverse.
The War-Time Mistake That Made Millions
Fast forward to 1943, when World War II was reshaping nearly every industry — including coin production. To preserve copper for military supplies, the U.S. Mint began producing pennies using zinc-coated steel instead of bronze. But a few leftover bronze planchets (metal blanks) from 1942 somehow slipped into the presses. The result? A handful of rare and unexpected 1943 bronze pennies — one of which later became the famous $1.7 million penny.
Also Read – The Lincoln Wheat Penny Valued at $250K, Still in Circulation
Why Is It Worth So Much?
Three things drive the astronomical value of the 1943 bronze penny:
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Rarity – Fewer than 20 are confirmed to exist.
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Historical importance – A production error during a pivotal moment in world history.
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Visual contrast – The reddish bronze stands out starkly from the expected silver-colored steel coins of the same year.
Combine those with high-quality preservation, and you’ve got a collector’s dream worth millions.
More Hidden Gems: Other Valuable Wheat Pennies
Not every valuable penny is a million-dollar marvel. Here are a few that could still fetch thousands:
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1909-S VDB – The first Lincoln penny from San Francisco with the designer’s initials. Value: up to $100,000.
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1914-D – Low mintage from the Denver Mint. Value: up to $150,000.
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1922 No D – A coin missing its mint mark due to a worn die. Value: $80,000 or more.
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1955 Doubled Die – Known for its visibly doubled lettering. Value: $10,000–$40,000.
Even ordinary wheat pennies in pristine condition can be worth $5–$50 or more.
How to Tell If You Have a Valuable Penny
Here are some basic steps you can take to screen your coins:
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Check the date: Look for 1909, 1914, 1922, 1943, and 1955.
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Test with a magnet: The 1943 bronze penny will not stick to a magnet (steel ones will).
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Inspect the mint mark: Found below the date (S = San Francisco, D = Denver, no mark = Philadelphia).
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Look for errors: Double strikes, missing marks, or odd colors may indicate higher value.
If your penny looks unusual, it may be worth getting a second opinion.
Also Read – The Lincoln Wheat Penny Valued at $320K, Still in Circulation
The Value of Authentication
Before you start celebrating your newfound riches, it’s crucial to have the coin professionally examined. Trusted services like PCGS and NGC provide:
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Authenticity verification
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Grading based on condition
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Official documentation that enhances resale value
Though there’s a cost, the potential reward makes it a smart move.
Why the Penny Hunt Still Captivates
The idea that a valuable coin could still be hiding in an old jar or be handed over in a store transaction is what fuels the continuing excitement of penny hunting. With thousands of these coins still unaccounted for, collectors and hobbyists scour rolls, flea markets, estate sales, and even pocket change, hoping to uncover a life-changing discovery.
FAQs About Rare Lincoln Pennies
Q: Are wheat pennies still found in circulation today?
A: Yes, though rare, they occasionally pop up in change or old coin rolls. Some collectors have found valuable wheat pennies at banks or garage sales.
Q: How many 1943 bronze pennies exist?
A: Fewer than 20 authentic examples have been confirmed, making them incredibly rare.
Q: What’s the best way to store old pennies?
A: Use acid-free holders or coin flips. Avoid touching them with bare hands—use gloves to prevent oils from damaging the surface.
Q: Can a coin dealer help evaluate my coins?
A: Reputable dealers can give a quick overview, but professional grading services provide the most accurate valuation.
Also Read – The Lincoln Wheat Penny Valued at $159,000, Still in Circulation
Q: Are all old pennies valuable?
A: No, but condition and rarity greatly affect value. Some wheat pennies are common but can still be worth a few dollars in mint condition.
Final Thought: Keep Your Eyes on the Change
While the chances of finding a multimillion-dollar penny are slim, the possibility isn’t zero — and that’s part of the fun. Whether you’re a dedicated numismatist or just someone curious about the coins in your pocket, it never hurts to take a closer look. After all, one ordinary cent could be worth a small fortune.
Disclaimer: This article is for informational purposes only. Coin prices are subject to change based on market trends, demand, and condition. Always seek professional verification before making financial decisions related to coin collecting.