Most people barely give pennies a second glance. They end up in couch cushions, tip jars, or those giant coin jars collecting dust on a shelf. But what if one of those tiny copper coins was actually worth a jaw-dropping $66 million? Sounds wild, right? That’s the buzz surrounding a rare Lincoln Wheat Penny—one that might still be floating around out there. Could it be in your pocket right now?
The Lincoln Wheat Penny: More Than Just Spare Change
First minted in 1909 to celebrate President Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny marked a turning point in U.S. coin design. For the first time ever, a real person—Lincoln—was featured on a coin instead of a symbol like Lady Liberty.
Crafted by designer Victor David Brenner, this iconic penny shows Lincoln’s profile on the front (known as the obverse) and two wheat stalks on the back (the reverse), symbolizing prosperity. The design stayed in use until 1958, when it was replaced by the Lincoln Memorial version.
Most of these pennies are just worth face value. But a few—due to unusual metal content, minting errors, or super low production numbers—have become incredibly valuable.
Why the $66 Million Hype?
Let’s clear the air: no Lincoln Wheat Penny has officially sold for $66 million. But rare coin communities love their legends, and this number gets tossed around a lot in collector circles.
That said, some Lincoln Wheat Pennies have sold for jaw-dropping prices. One of the most famous is the 1943 Bronze Lincoln Wheat Penny, which went for over $1.7 million at auction. The reason? In 1943, the U.S. Mint switched from copper to steel to conserve metal for World War II. But a few pennies were mistakenly struck in bronze (aka copper), and that error turned them into instant collectibles.
So why do these rare coins fetch such enormous prices? Here’s what collectors look for:
- Minting errors – like the 1943 bronze instead of steel mistake
- Extremely low mintages – like the 1909-S VDB or 1914-D
- Odd metal compositions – anything outside the norm grabs attention
How to Spot a Valuable Lincoln Wheat Penny
Think you’ve got a lucky penny? Check for these signs:
- The date and mint mark – Keep an eye out for 1909-S VDB, 1914-D, and of course, 1943 bronze.
- Magnet test – Steel 1943 pennies are magnetic. If yours isn’t, you might have something rare.
- Weight test – A copper penny should weigh about 3.11 grams, while a steel one comes in lighter at 2.7 grams.
- Condition – Coins in “uncirculated” or near-mint condition are worth significantly more than scratched-up, worn ones.
Where Might One Be Hiding?
Believe it or not, these treasures often turn up in the most unexpected places:
- Old jars or piggy banks – Especially those passed down from older generations.
- Garage sales and flea markets – Where people sometimes sell off inherited coin collections without knowing their worth.
- Family heirlooms – Got coins from your grandparents? It’s time to dig them out.
- Loose change drawers and cash registers – Rare coins have been accidentally spent like any other penny.
What to Do If You Think You’ve Found One
Got a coin that seems special? Here’s your next move:
- Verify it – Look up photos and details online or compare it at a coin shop.
- Get it appraised – Reputable services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can authenticate and grade your coin.
- Sell it smart – You’ve got options:
- Auction houses attract deep-pocketed collectors.
- Coin dealers may offer quick cash (just be sure they’re trustworthy).
- Online marketplaces like eBay or collector forums can give you broader exposure.
Final Thoughts
Sure, a $66 million penny sounds more like a fairytale than a fact. But the truth is, some Lincoln Wheat Pennies are worth life-changing money. Even if you don’t strike gold (or bronze, in this case), collecting old coins is a fun and surprisingly educational hobby.
So next time you’re digging through your change, don’t be so quick to toss those pennies aside. One of them just might be the key to your next big adventure—or at least a pretty cool story.