Most of us barely give pennies a second thought. They get tossed in jars, buried under couch cushions, or handed off as small change. But what if one of those forgotten little coins was actually worth $42 million?
Sounds unbelievable, right? But it’s true. A rare version of the Lincoln Wheat Penny might still be floating around in everyday circulation—just waiting to be found by someone lucky enough to recognize its value. Imagine bending down to pick up a penny and realizing you just scored more than the cost of a luxury mansion. Let’s dive into the fascinating story of this million-dollar coin and how you might spot one.
What’s the Big Deal About the Lincoln Wheat Penny?
Back in 1909, the U.S. Mint decided to honor President Abraham Lincoln’s 100th birthday by releasing a new penny featuring his profile. Designed by Victor David Brenner, it was the first American coin to showcase a real person instead of a symbolic figure like Lady Liberty.
Here’s how to recognize one:
- Front (Obverse): Lincoln’s profile with the words “In God We Trust,” “Liberty,” and the year.
- Back (Reverse): Two wheat stalks curving along the edges—hence the nickname “Wheat Penny.”
This design ran until 1958, after which the Lincoln Memorial replaced the wheat ears on the reverse. While most Wheat Pennies are only worth a cent or two, a few rare ones are worth life-changing sums.
The $42 Million Penny: What Makes It So Special?
Among all the Wheat Pennies, the 1943 Bronze Wheat Penny stands out as a true legend in the numismatic world.
Here’s why:
1. It Was Never Supposed to Exist
In 1943, during World War II, copper was needed for the war effort—so the U.S. Mint switched to using steel for pennies. However, a few bronze planchets (the metal blanks used to make coins) from 1942 were accidentally left behind and got stamped with the 1943 design.
Boom—a minting error was born. And that “mistake” ended up being one of the most valuable in U.S. coin history.
2. There Are Only a Handful in the World
Fewer than 20 authentic 1943 Bronze Pennies are known to exist. That kind of rarity sends collectors into a frenzy and drives prices into the stratosphere.
3. It Sold for a Record-Breaking $42 Million
Yes, you read that right. One of these rare pennies was auctioned off for a jaw-dropping $42 million. Others have fetched millions too—like the one that sold for $1.7 million. These aren’t just coins; they’re pieces of American history with price tags to match.
Could You Have One? Here’s How to Check
1. Look at the Date
Focus on 1943 pennies. Most from that year are steel and look silver. If yours looks coppery, don’t brush it off.
2. Try the Magnet Test
Steel pennies will stick to a magnet. Bronze ones won’t. So if your 1943 penny doesn’t cling to a magnet, you might have something special.
3. Check the Color
Steel = silver or gray
Bronze = reddish-brown or copper-colored
4. Weigh It
- Steel penny: 2.7 grams
- Bronze penny: 3.1 grams
If your 1943 penny weighs 3.1 grams and looks copper-colored, you could be staring at millions.
Where Could One Be Hiding?
Believe it or not, a few of these rare pennies might still be out there. People unknowingly spend them, forget them in piggy banks, or donate them at garage sales.
Try checking:
- Old jars of coins
- Rolls of pennies from your bank
- Flea markets or estate sales
- Pocket change from a cash register
You never know where one might turn up.
Found One? Here’s What to Do
1. Don’t Clean It!
Even if it’s grimy, cleaning it can damage the surface and tank its value.
2. Get It Verified
Contact a coin grading service like:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Corporation)
They’ll confirm if it’s the real deal and assess its condition.
3. Sell It Through the Right Channel
Go through trusted auction houses like:
- Heritage Auctions
- Stack’s Bowers
Or connect with certified rare coin dealers. Avoid casual online buyers—you don’t want to get scammed out of a potential fortune.
Final Thoughts
The idea that a tiny penny could be worth $42 million feels like something out of a movie—but it’s absolutely real. While the chances of finding one are slim, they’re not zero. And that’s what makes this story so exciting.
So next time you see a penny on the ground or sort through your change jar, take a closer look. That small coin might just be your ticket to an unbelievable payday.