Finance

The Lincoln Wheat Penny Worth $110 Million: Still Found in Circulation

Published

6 days ago

January 27, 2025

Kelly

The Lincoln Wheat Penny Worth $110 Million: Still Found in Circulation

The Lincoln Wheat Penny, minted from 1909 to 1958, holds a special place in American numismatic history. While most of these coins are of modest value, certain rare variants have captured the attention of collectors worldwide.

Notably, a 1943 copper Lincoln Wheat Penny has been valued at an astonishing $110 million, making it one of the most coveted coins in existence. Even more intriguing is the possibility that such treasures might still be hidden in everyday circulation.

The Genesis of the Lincoln Wheat Penny

Introduced in 1909 to commemorate the centennial of President Abraham Lincoln’s birth, the Lincoln Wheat Penny was the first U.S. coin to feature a president’s likeness.

Designed by Victor David Brenner, the obverse showcases Lincoln’s profile, while the reverse displays two wheat stalks, symbolizing prosperity. This design remained until 1958, after which the reverse was changed to depict the Lincoln Memorial.

The 1943 Copper Penny: A Fortuitous Error

During World War II, copper was a critical material for wartime production. To conserve resources, the U.S. Mint transitioned to producing pennies from zinc-coated steel in 1943.

However, a small number of pennies were mistakenly struck using leftover copper planchets from 1942. These error coins, known as 1943 copper pennies, are exceptionally rare and highly sought after by collectors.

Factors Contributing to the $110 Million Valuation

The staggering $110 million valuation of the 1943 copper Lincoln Wheat Penny is attributed to several key factors:

Rarity: It’s estimated that only about 10 to 15 of these copper error coins exist, making them exceedingly scarce.
Historical Significance: As unintended products of wartime resource conservation efforts, these coins represent a unique intersection of history and numismatics.
Condition: Coins in pristine condition, especially those that have remained uncirculated, command higher prices.
Collector Demand: The allure of owning such a rare piece drives intense competition among collectors, further inflating its value.

Notable Auction Sales

While the $110 million valuation is exceptional, other 1943 copper pennies have fetched impressive sums at auctions:

Year	Mint Mark	Sale Price
2010	D	$1.7 million
2023	S	$504,000
2023	None	$372,000

Note: ‘D’ denotes the Denver Mint, ‘S’ the San Francisco Mint, and ‘None’ indicates the Philadelphia Mint.

Identifying a 1943 Copper Penny

For those eager to discover if they possess this numismatic gem, consider the following steps:

Date Check: Ensure the penny is dated 1943.
Magnet Test: Copper is non-magnetic. If the coin is attracted to a magnet, it’s likely a common steel penny.
Weight Measurement: A genuine 1943 copper penny weighs approximately 3.11 grams, whereas the steel version weighs about 2.7 grams.

The Possibility of Hidden Treasures

Despite the passage of time, it’s conceivable that some 1943 copper pennies remain undiscovered in circulation or tucked away in personal collections.

Regularly examining pocket change or inherited coin collections could potentially yield such a treasure.

Preserving and Authenticating Your Find

If you believe you’ve found a 1943 copper penny:

Handle with Care: Avoid cleaning or polishing the coin, as this can diminish its value.
Seek Professional Authentication: Consult a reputable coin dealer or grading service to verify its authenticity and assess its condition.

The tale of the 1943 copper Lincoln Wheat Penny serves as a captivating reminder of the unexpected treasures that may lie hidden in everyday life.

Whether you’re a seasoned collector or a curious novice, the prospect of discovering such a rare coin adds an element of excitement to the simple act of examining your spare change.