Think a penny can’t be worth much? Think again. One rare Lincoln Wheat Penny fetched a jaw-dropping $701,000 at auction—and the wildest part? It might still be out there, tucked away in a jar of old coins or hiding in your pocket change. Yes, really. This unassuming little coin could turn an ordinary day into an unforgettable one.
So, What Exactly Is a Lincoln Wheat Penny?
First minted in 1909, the Lincoln Wheat Penny—also known as the Wheat Cent—was created to honor the 100th birthday of President Abraham Lincoln. Designed by Victor D. Brenner, it made history as the first U.S. coin to feature a real person’s face rather than a symbolic figure like Lady Liberty.
The front of the coin (the obverse) shows Lincoln’s profile. Flip it over, and you’ll see two wheat stalks on the back (the reverse), which gave the coin its nickname.
These pennies were minted up until 1958, after which they were replaced with the Lincoln Memorial design. Most Wheat Pennies are made of copper, but wartime shortages changed everything in 1943…
The 1943 Bronze Penny: A $701,000 Mistake
Here’s where things get really interesting.
In 1943, the U.S. Mint needed copper for World War II, so they switched penny production to zinc-coated steel. But a few copper blanks from 1942 slipped through the cracks. The result? A rare minting error now worth hundreds of thousands of dollars.
One of these 1943 bronze pennies was sold for $701,000, making it one of the most valuable coins in existence.
How to Know If You’ve Got the $701K Penny
Think you might have a 1943 penny? Here’s what to do:
- Check the Date: It should say 1943.
- Use a Magnet: Steel pennies will stick. If yours doesn’t? You might be holding bronze.
- Weigh It: Steel pennies weigh 2.7 grams; bronze ones come in at 3.11 grams.
- Look for Mint Marks:
- No mark = Philadelphia
- “D” = Denver
- “S” = San Francisco
Any mint location can be valuable—as long as it’s bronze.
Other Lincoln Wheat Pennies Worth Big Bucks
While the 1943 Bronze Penny grabs headlines, it’s not the only Lincoln Wheat Penny with a hefty price tag. Keep an eye out for these valuable coins too:
- 1909-S VDB – The holy grail for collectors. Only 484,000 were made. Some have sold for over $100,000.
- 1944 Steel Penny – Another wartime error, the reverse of the 1943 bronze mistake. A few pennies were accidentally minted in steel in 1944. Value? Also six figures.
- 1922 No D Penny – Minted in Denver, but some lost their “D” due to a worn die. Rare and highly sought after.
- 1955 Doubled Die Penny – This coin has doubled letters and numbers due to a minting error. Worth thousands.
Could These Still Be in Circulation?
It’s not just a dream—yes, it’s possible. Many people overlook old pennies and spend them without a second thought. Some of these hidden gems might still be rolling around in pocket change, cash registers, or your childhood coin jar.
Want to Go Treasure Hunting? Here’s How:
- Check Dates: Look for any pennies from before 1958.
- Magnet Test: Especially for 1943 pennies—if they don’t stick, you’re in business.
- Use a Scale: A tiny difference in weight could mean a huge payday.
- Buy Coin Rolls: Banks often have rolls of pennies—you never know what you might find.
- Ask a Pro: If you find a suspiciously rare penny, take it to a reputable coin dealer.
Bottom Line
The Lincoln Wheat Penny is more than just a coin—it’s a slice of American history. And for a lucky few, it’s also a life-changing discovery. One small error at the Mint in 1943 created a coin that’s now worth over $700,000. So next time you’re about to toss that penny aside, give it a second look.
That little piece of copper might just make you rich.