While Most of Us Don’t Give a Second Thought to Pennies Many people don’t pay much attention to pennies, thinking they have little to no value. But one particular Lincoln Wheat Penny shocked collectors when it sold for a massive $3,172,500 at auction.
What’s even more exciting is that there could still be more of these rare coins out there, hiding in everyday places like your change jar. This gives you a unique opportunity to find a piece of American coin history and potentially a fortune sitting right under your nose.
Why is the Lincoln Wheat Penny So Special?
The Lincoln Wheat Penny was first issued in 1909 to honor the 100th birthday of President Abraham Lincoln. This coin features a profile of Lincoln on the front and two wheat stalks on the reverse side. It remained in circulation with this design until 1958.
Although most Wheat Pennies are common and not worth much more than their face value, some versions are extremely rare. These rare coins are highly valuable either because of mistakes made during the minting process or because of their limited numbers, making them prized pieces for collectors.
The $3,172,500 Penny
One of the most legendary Lincoln Wheat Pennies is the 1943 copper version. In that year, during World War II, the U.S. Mint started making pennies out of steel instead of copper to conserve copper for military supplies. However, a few copper planchets—blank metal discs—were accidentally used, resulting in the rare 1943 copper penny.
These coins are incredibly scarce. In fact, only an estimated 20 to 40 of them are known to exist. One of these in exceptional condition was sold for a staggering $3,172,500, making it one of the most valuable pennies ever sold.
How to Identify a Rare Lincoln Wheat Penny
If you’re hoping to spot one of these valuable coins, here are some key things to keep in mind. First, examine the year on the penny; a 1943 date is your best clue. Then look at the coin’s color—most 1943 pennies are silver-colored since they were made from steel. If you see a brown or copper-toned 1943 penny, you might have something rare.
Try the magnet test next: steel coins will be attracted to a magnet, but copper ones won’t. If your 1943 penny doesn’t stick, it’s worth looking into further. Additionally, there are other rare dates and versions of Wheat Pennies to watch for, such as the 1909-S VDB, the 1914-D, the 1922 No D, and the famous 1955 Doubled Die.
Where Could You Find One?
These rare coins can show up in some of the most unexpected places. You might find one in a jar of old coins, a piggy bank, or even during a garage or estate sale. Some collectors purposely search through coin rolls from the bank, spending hours sifting through pennies in hopes of discovering a valuable one. You could also come across one in a family coin collection passed down from older generations. These coins may be quietly waiting to be rediscovered by someone who knows what to look for.
What to Do If You Find a Rare Penny
If you think you may have found one of these valuable coins, take some precautions to preserve its condition and verify its worth. First, avoid cleaning it, as this can significantly reduce its value. Handle the coin carefully, preferably using gloves or by touching only the edges.
Store it in a protective holder to avoid damage. Most importantly, get the coin professionally authenticated. Companies like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) can examine the coin and provide certification. When it’s time to sell, work with reputable coin dealers or major auction houses to get the best possible return.
Final Thoughts
Although finding a Lincoln Wheat Penny worth $3,172,500 may seem unlikely, it’s not impossible. These coins are real, and some are still unaccounted for. With a little knowledge and a bit of luck, you might stumble across one in your own home or pocket change. Take the time to check your coins—you could be holding a rare piece of American history that’s worth a small fortune. You never know what treasure might be hiding in plain sight.