It’s Easy to Overlook a Penny. Most people tend to ignore pennies. Many toss them into jars, leave them scattered in cars, or simply overlook them entirely. However, what if one of those seemingly worthless pennies was actually worth an astounding $9.7 million? Believe it or not, this is the rumored value of a very rare Lincoln Wheat Penny, which might still be hiding somewhere in someone’s everyday pocket change.
The Story Behind the Lincoln Wheat Penny
The Lincoln Wheat Penny made its debut in 1909, created to celebrate the 100th anniversary of Abraham Lincoln’s birth. This coin was groundbreaking as it was the first U.S. coin to feature a real person, showcasing Lincoln’s portrait on the front.
The reverse side displayed two wheat stalks, a design that remained in use until 1958 when it was replaced by the Lincoln Memorial design. This penny holds a special place in history due to its unique design and symbolism.
Why Is One Penny Worth $9.7 Million?
Although pennies generally have a face value of just one cent, some can be worth thousands or even millions of dollars because of rare errors made during the minting process. The most famous example is the 1943 copper Lincoln Wheat Penny. During 1943, pennies were supposed to be made from steel to conserve copper for the war effort during World War II.
However, a small number of copper blanks were mistakenly used, producing one of the rarest and most valuable coins in U.S. history. Only about 20 to 40 of these 1943 copper pennies are known to exist today. One sold for approximately $1.7 million, and experts believe that a perfectly preserved specimen could command as much as $9.7 million in a high-profile private sale.
Other Wheat Pennies That Are Valuable
Even if you don’t possess the $9.7 million penny, some Lincoln Wheat Pennies still hold significant value:
- The 1909-S VDB penny, which features a rare San Francisco mint mark and an early design, can be worth over $100,000.
- The 1914-D penny, from a limited production run at the Denver mint, typically sells between $10,000 and $30,000.
- The 1955 Doubled Die penny, known for its distinct doubled lettering error, can be valued anywhere from $1,000 to $50,000 depending on condition.
How to Spot a Rare Penny
If you’re interested in discovering whether your pennies have hidden worth, here’s how to examine them carefully:
- Check the year and mint mark beneath the date on the coin.
- Conduct a magnet test; steel pennies from 1943 will stick to a magnet, while rare copper pennies will not.
- Look closely for minting errors such as doubled letters or designs that are off-center.
- Evaluate the coin’s condition because pennies in better shape tend to be more valuable.
Where You Might Find One
Rare pennies can be discovered in some surprising places:
- Old jars filled with coins collected over time.
- Garage sales or estate sales, where inherited items might be sold.
- Coin rolls purchased from your local bank.
- Collections passed down through family generations.
These valuable coins often appear where people least expect them. Many individuals remain unaware of their coins’ potential worth until it’s too late to take advantage.
What to Do If You Think You’ve Found One
If you believe you’ve come across a rare penny, follow these steps to protect its value:
- Avoid cleaning the coin as this can damage it and significantly reduce its worth.
- Handle the coin carefully by wearing gloves or holding it only by the edges to prevent oils and dirt from damaging it.
- Place the coin in a protective plastic holder designed for coins.
- Have the coin professionally graded and authenticated by trusted services such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation).
- Once authenticated, consider selling the coin through a specialized auction house or a reputable coin dealer to ensure a fair and safe transaction.
Final Thoughts
It may seem unbelievable, but it is entirely possible that a $9.7 million Lincoln Wheat Penny still exists somewhere out there. Whether it’s lying forgotten in a dusty coin jar or hidden in a roll of change, eventually someone will uncover it. So next time you come across a penny, don’t just dismiss it—take a closer look. That simple coin could turn out to be the most valuable item you own.