Most of us don’t give a second thought to the coins we carry in our pockets. But imagine finding a penny that could make you rich—very rich. Believe it or not, some rare Lincoln Wheat Pennies have been sold for jaw-dropping amounts, from $870,000 to as much as $1.7 million. And the most surprising part? Some of these pennies are still in circulation today.
Yes, that means it’s possible a lucky person could find one just lying around in a coin jar or under a couch cushion. Let’s explore why these pennies are worth so much and how to spot one.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the Wheat Cent, was first minted in 1909. It was created to mark 100 years since the birth of Abraham Lincoln, the 16th President of the United States. It was also the first American coin to show a president’s face.
Designed by Victor David Brenner, the coin features Lincoln’s portrait on the front. On the back, you’ll see two stalks of wheat—symbols of prosperity. These coins were made until 1958, after which the design was changed to show the Lincoln Memorial.
Why Are Some Lincoln Pennies Worth So Much?
While millions of Lincoln Wheat Pennies were made, only a few are worth big money. One of the most valuable is the 1943 Bronze Wheat Penny. During World War II, most 1943 pennies were made with steel because copper was needed for the war. But by mistake, a few were made using bronze (which is mostly copper). These rare coins are now worth a fortune.
In 2010, one of these rare bronze 1943 pennies sold for $1.7 million at auction. In another case, a collector bought a similar penny for $870,000 in 2019. These are some of the highest prices ever paid for a one-cent coin.
Some rumors suggest there might be a $5 million or even a $300 million penny still out there. However, coin experts say there’s no solid proof for these claims. According to professional coin graders, no one has actually seen one of these so-called error pennies.
Are These Rare Coins Still in Circulation?
Yes, it’s possible. While very rare, a few of these valuable coins might still be mixed in with everyday change. People often don’t notice these coins or know what they’re worth. So if you’re someone who loves checking change, it might be worth taking a closer look.
Other Rare U.S. Coins That Could Be Worth a Lot
Besides the Lincoln Wheat Penny, there are other U.S. coins that have been sold for millions:
The 1933 Double Eagle Coin is one of the rarest coins in the world. Only 12 are known to exist today. One of them was sold for $18.8 million in 2021. This coin has a design mistake that shows what looks like two tails on the eagle.
Then there’s the 1794 Flowing Hair Silver Dollar, the first silver coin made after the American Revolution. It’s considered the second-rarest coin in U.S. history and was sold for $10 million in 2010.
Modern Coins That Are Also Valuable
Not all rare coins are centuries old. Some coins from the last 50 years are also worth a lot. These include:
- 1972 Doubled Die Lincoln Penny – worth up to $1,000
- 2005-D “Speared Bison” Jefferson Nickel – can fetch up to $1,500
- 1982 No Mint Mark Roosevelt Dime – known to sell for $10,000
These coins are rare because of minting errors and are highly prized by collectors.
While many of the world’s rarest coins are no longer in use, a few like the Lincoln Wheat Penny might still be out there. Whether it’s tucked inside a forgotten piggy bank or resting at the bottom of a coin jar, you could be sitting on a small fortune without even knowing it.
If you enjoy the idea of treasure hunting, start by checking your loose change and old coins. Even if you don’t find a million-dollar penny, you might discover something worth hundreds or even thousands. Coin collecting can be an exciting and educational hobby, and who knows—you might just strike gold one day!
FAQ’s
What makes the 1943 Lincoln Wheat Penny so valuable?
The 1943 Lincoln Wheat Penny is valuable because most were made from steel due to World War II copper shortages. However, a few were mistakenly minted using bronze, making them extremely rare and worth up to $1.7 million.
Is there really a $300 million or $5 million penny?
There are rumors of Lincoln Wheat Pennies worth $300 million or $5 million, but coin experts and grading companies confirm that no such coins have ever been verified.
How do I check if I have a rare penny?
Look for 1943 pennies that are copper-colored instead of silver. Use a magnet—steel pennies stick, copper ones don’t. If your penny doesn’t stick and is dated 1943, get it evaluated by a coin expert.
What other rare U.S. coins are valuable?
Some other valuable coins include the 1933 Double Eagle, worth over $18 million, and the 1794 Flowing Hair Silver Dollar, sold for $10 million. Modern coins with minting errors can also fetch thousands.
Can modern coins still be worth a lot?
Yes, coins like the 1972 Doubled Die Lincoln Penny, 2005-D Speared Bison Nickel, and 1982 No Mint Mark Dime are highly valuable due to minting errors, with prices ranging from hundreds to $10,000.
