The Lincoln Wheat Penny Valued at $3.5 Million, Still in Circulation

The Lincoln Wheat Penny Valued at $3.5 Million: Have you ever thought that a simple coin in your pocket can make you a millionaire? It may sound strange, but a coin called Lincoln Wheat Penny is one such unique example. Especially the 1943 Lincoln Wheat Penny made of copper is worth millions of dollars today!

The surprising thing is that its price can reach up to about $3.5 million (about Rs 29 crore). This coin is so rare that coin collectors around the world always keep an eye on it. But do you know that this rare coin can still be in circulation somewhere today? That is, you may already have this coin and you may not even know its value!

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If you also want to know why this coin is so special, how to identify it, and what is the best way to find it, then read this article completely. There may be a treasure worth crores hidden in your next change!

The History Behind the Lincoln Wheat Penny

The Lincoln cent made its debut in 1909 as American coinage introduced its first portrait representation. Since George Washington became president American coins rejected all human portraits until the Lincoln cent introduction. The Lincoln cent delivered its memorable tribute through a fitting homage by commemorating Abraham Lincoln on his birth centenary year.

When President Theodore Roosevelt initiated his campaign for more creative U.S. coinage he appointed Victor David Brenner to work on the new cent design. The front-side imagery of the new coin originated from a Lincoln plaque design that Brenner a Lithuanian immigrant created. Brenner created the Wheat Penny denomination with two wheat stalks that formed an elegant direct pattern which later people recognized as the “Wheat Penny” name.

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Production Timeline

The Lincoln Wheat Penny was minted from 1909 through 1958, making it one of the longest-running designs in U.S. coinage history. During this nearly 50-year span, these pennies were produced primarily at three mints:

Philadelphia (no mint mark)
Denver (D mint mark)
San Francisco (S mint mark)

The mint mark, when present, appears on the obverse below the date. In 1959, the reverse design was changed to the Lincoln Memorial, ending the Wheat Penny era but continuing the Lincoln cent tradition that remains to this day.

Composition Changes

Throughout its production history, the Lincoln Wheat Penny underwent several composition changes:

1909-1942: 95% copper, 5% tin and zinc
1943: Zinc-coated steel (due to wartime copper shortages)
1944-1958: 95% copper, 5% zinc (no tin due to continued shortages)

These composition changes, particularly the 1943 steel cent, created some of the most notable and valuable error coins in American numismatics.

Design Elements of the Lincoln Wheat Penny

Obverse Features

The obverse (heads side) of the Lincoln Wheat Penny features:

A right-facing profile portrait of Abraham Lincoln
The motto “IN GOD WE TRUST” arcing above Lincoln’s head
The word “LIBERTY” to the left of Lincoln’s portrait
The date on the right side
When present, mint marks appear below the date

Reverse Features

The reverse (tails side) displays:

Two wheat stalks framing the outer edge of the coin
The phrases “E PLURIBUS UNUM” and “ONE CENT” in the center
“UNITED STATES OF AMERICA” below “ONE CENT”

The wheat stalks design, created by Victor D. Brenner, symbolizes America’s agricultural wealth and prosperity, a fitting representation for the nation’s smallest denomination coin.

Special Features of Lincoln Wheat Penny

Features	Description
Name of Coin	Lincoln Wheat Penny
Rarest version	Copper coin of 1943
Estimated price	Up to $3.5 million
Reason for rarity	Some coins were made in copper by mistake during wartime
Total number of known coins	About 20
Method of identification	It does not stick to magnets
Design feature	Lincoln’s picture on the front, two stalks of wheat on the back

A mistake that made a fortune of crores!

During World War II (in 1943), there was a huge demand for copper in America. It was being used for weapons, wires and other war materials. In such a situation, the US government decided that all the coins of 1943 would be made of steel, so that copper could be saved.

But by mistake some old copper coins were also minted in 1943. This number was very low – only 20 coins in total.

This mistake makes these coins extremely rare. Because in 1943 almost all the coins were made of steel, but a few selected coins remained in copper. This is the reason why today this coin is no less than a treasure for collectors around the world.

The Lincoln Wheat Penny Valued at $2.8 Million, Still in Circulation

Can your coin be worth crores? Identify it like this

Now the question arises—if you have a 1943 Lincoln Wheat Penny, how do you know if it is a real copper coin or a simple steel coin? There are some easy ways for this:

Check the date – The coin should have “1943” written on it. If the date is something else, then it is not a rare coin.
Do a magnet test – A steel coin will stick to a magnet, but a copper coin will not. If your 1943 Penny does not stick to a magnet, then it could be a real treasure!
Check the color and weight – A steel coin is light and silvery, while a copper coin is reddish-brown in color and weighs 3.11 grams.
Professional authentication – If your coin passes all these tests, get it checked by a professional numismatist.

Beware of fake coins!

Given such a huge price, many people also make fake 1943 copper coins. To identify fake coins:

Some people change the 1948 coins to “1943” by chiseling them.
Steel coins are coated with copper to make them look real.
To identify the real coin, get it checked by an expert and get certification.

Where can you find these rare coins?

This coin may be lying in an old coin collection. Apart from this:

In old coin shops
In a family’s old coin jar
In a garage sale or auction

If you are also fond of collecting coins, always look carefully at every old coin that comes to you. Who knows, when you may get a treasure worth crores!

What to do if you find this coin?

If you are lucky enough to find a genuine 1943 copper Lincoln Wheat Penny, to keep it safe:

Hand it as little as possible – hold it only by the edge to avoid any damage.
Store it properly – keep it in a plastic cover or a special coin box.
Get it appraised by an expert – get it verified by a certified coin expert to know the coin’s real value.

The Most Valuable Lincoln Wheat Pennies

The majority of Wheat Pennies have marginal value above their face value but specific coins from particular mint marks or with certain dates or errors can become highly valuable. Lincoln Wheat Pennies with these dates prove to be the most valuable to Wheat Penny collectors.

Key Dates

1909-S VDB – A total of only 484,000 pieces made the 1909-S VDB Wheat Penny before the VDB lettering disappeared from production making it the top collectible Lincoln Wheat Penny. The value of Wheat Pennies in great condition reaches several thousand dollars.
1914-D – This penny from the Denver branch of the mint is highly prized by collectors because of its low production amount of 1,193,000 pieces especially when in fine condition.
1922 Plain – The so-called 1922 Plain pennies resulted when D mint marks disappeared from some 1922-D dies producing coins with no appearance of specific mint origin. The absence of Philadelphia penny production in 1922 makes an error-free coin without a mint mark mark the coin as highly valuable.
1931-S – The production of 1931-S pennies in San Francisco stopped due to the Great Depression so only 866,000 coins were minted.

Notable Errors

1943 Copper Penny – When the Mint switched to steel cents in 1943 due to wartime copper shortages, a few copper planchets from 1942 accidentally made it into production. These extremely rare error coins can sell for over $100,000.
1944 Steel Penny – The opposite error occurred when a few 1944 cents were struck on leftover steel planchets from 1943. These are also exceptionally valuable.
1955 Doubled Die Obverse – Perhaps the most famous Wheat Penny error, showing dramatic doubling on the obverse lettering and date. These can command prices of several thousand dollars even in circulated condition.