You Might Not Think Twice About Pennies, But Did You Know That a Lincoln Wheat Penny Worth $55,000 Has Been Sold at Auction?
Most people overlook pennies, tossing them into jars or pockets without a second glance. But among these everyday coins, there are some that are surprisingly valuable. One such coin, a Lincoln Wheat Penny, once sold for a staggering $55,000 at auction.
While most of these pennies are worth only face value, rare versions are highly sought after by collectors. The exciting part is that these valuable coins could still be hiding in plain sight, maybe even in your spare change or old coin stash. The possibility of finding a fortune in such a small piece of currency makes the hunt all the more thrilling.
What Makes the Lincoln Wheat Penny Special?
First introduced in 1909 to celebrate the centennial of Abraham Lincoln’s birth, the Lincoln Wheat Penny became the first U.S. coin to feature a real person. On the front is a portrait of Lincoln, while the reverse shows two stalks of wheat curving along the sides.
This iconic design remained unchanged until 1958. While millions of these coins were made and are still quite common, some editions are rare due to minting errors or limited production. These rare versions can be worth much more than one cent and are prized possessions in the numismatic world.
The $55,000 Penny
Among the most famous and rare Lincoln Wheat Pennies is the 1943 copper penny. During World War II, copper was needed for military use, so the U.S. Mint switched to making pennies from zinc-coated steel. However, a small number of copper blanks, known as planchets, were mistakenly left in the machines and used to mint some 1943 pennies.
These rare errors resulted in copper-colored 1943 pennies instead of the usual silver steel ones. One of these copper pennies, preserved in excellent condition, sold for $55,000 at auction. It’s estimated that only about 20 to 40 of these pennies exist today, which makes them extremely desirable to collectors.
How to Identify a Valuable Lincoln Wheat Penny
Spotting a rare Lincoln Wheat Penny requires close attention to detail. First, check the date on the coin—1943 is a critical year. Most 1943 pennies are made of steel and appear silver in color. However, if you find one that looks copper or brown, it might be one of the rare errors.
A simple magnet test can help—steel pennies will stick, but copper ones will not. If your 1943 penny doesn’t stick to a magnet, there’s a chance it’s one of the valuable copper versions. Besides the 1943 error, keep an eye out for other rare dates like the 1909-S VDB, the 1914-D, the 1955 Doubled Die, and the 1922 No D penny—all of which are known for their scarcity and high value.
Where Could You Find One?
You don’t have to be a professional collector to stumble upon a valuable penny. Rare Lincoln Wheat Pennies can turn up in ordinary places. You might find one in your spare change, tucked away in an old coin jar or piggy bank. They can also be found at estate sales, garage sales, or among coins inherited from family members.
Some people even go to the bank and request rolls of pennies to search through, a method known as coin roll hunting. This hobby is not only fun but can also be surprisingly rewarding if you’re lucky enough to find a rare piece.
What to Do If You Find a Rare Penny
If you think you’ve discovered a rare Lincoln Wheat Penny, it’s important to take proper care of it. Avoid cleaning the coin, as this can reduce its value significantly. Instead, handle it gently using gloves or hold it by the edges to keep it free from oils and dirt.
Store the coin in a protective case to prevent damage. Next, have it evaluated by a professional coin grading service like PCGS or NGC. These services can confirm the coin’s authenticity and provide an official grade, which is important if you ever decide to sell. When you’re ready to sell, use a trusted coin dealer or auction house to ensure you receive the best possible price.
Final Thoughts
It may seem unlikely, but a Lincoln Wheat Penny worth $55,000 could be sitting unnoticed among your loose change. These rare finds aren’t just the stuff of legends—they’ve been discovered by ordinary people who took a closer look at their coins.
By knowing what to look for and taking the right steps if you find something special, you might uncover a penny that’s worth a small fortune. So next time you receive change at the store or go through an old coin collection, take a moment to inspect those pennies. One of them could be your hidden treasure.