Rare Lincoln Wheat Penny Worth $6.7 Million – Is It Still in Circulation?

For comparison, picture an old penny you found in your pocket, only to find out it is worth an astounding $6.7 million. Unbelievable, right? But believe it or not, somewhere out there is a rare Lincoln Wheat Penny valued at this eye-popping price, and it probably could be still in circulation, meaning this penny could just lie in someone’s piggy bank or spare change container, undisturbed.

What Is the Lincoln Wheat Penny?

The Lincoln Wheat Penny was minted for the first time in 1909 to commemorate the 100th birthday of President Abraham Lincoln. Designed by Victor David Brenner, it was the first U.S. coin to have a president’s portrait on it. The obverse or the front of the coin had an image of Lincoln, while the reverse side showed two stalks of wheat-the name “Wheat Penny” is popularly associated with it.

That design persevered until it was discontinued in 1958 in favor of the Lincoln Memorial Penny. Today, the average coin of that type is worth a few cents, although a select few rare varieties have sold for millions of dollars.

What Makes This Penny Worth $6.7 Million?

Not all Lincoln Wheat Pennies carry value, but some dates are deemed rare on account of certain critical considerations:

1. Minting Errors

It was these peculiarities that gave character to some pennies and made them valuable. Some were accidentally made from bronze or silver, rather than the intended copper. Off-centered strikes, omitted letters, or double dies on others will increase their value among collectors.

2. Rare Dates

Many pennies of some years had very low mintages, so they were difficult to obtain. Of these, the most valuable are the 1909-S V.D.B., 1943 copper penny, and 1944 steel penny. They are very rare because either they were made in small quantities or have been of obviously wrong metal.

3. Historical Significance

Collectors love coins with stories. The Lincoln Wheat Penny was minted sometime during the most significant times in American history, from the two World Wars. To possess one, is to possess a piece of history.

How to Check If You Have a Valuable Lincoln Wheat Penny

If you are wondering whether you have one of those collectible pennies or not, here are the things to look for:

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When It Was Struck—Some valuable Lincoln Wheat Pennies are the 1909-S VDB, the Copper Penny of 1943, and the Steel Penny of 1,944; any of these dates collective and their years respectively are worth scrutinizing further if on your penny collection.
A Touch of Science—During 1943, most pennies circulated were struck of steel, but by fluke, a few steel cents were accidentally minted in copper. One may discern the worth of a coin to see if it attracts a magnet; if it does, it is a steel coin; if not, it could well be a one-of-a-kind copper penny.
Mint Mark—Remember the mint marks: an “S” for San Francisco, a “D” for Denver, and no mark under the date referring to Philadelphia minting. Several mint marks do account for some pennies’ greater value as opposed to others.
Errors—A misprint might be a valuable coin; some double-stamped pennies do have a definitely oddball “off” appearance about them. If your penny looks odd in any way at all, you may want to take a second look at it.

Can You Still Find This Penny in Circulation?

Yes, possibly! Rare coins have surfaced more often than not in unexpected locations, like coin rolls or forgotten rusty jars, in flea markets, or as spare change from around the shop.

Thinking that the worth of old-time pennies may not always be well known, there’s a chance that some of these treasures are still hidden somewhere(unbeknownst) and ready to be discovered.

What Should You Do If You Find One?

If you think you’ve found a valuable Lincoln Wheat Penny, do the following:

Don’t Clean It—Cleaning a coin can actually lower its value. Leave it just as you found it.
Verify Its Authenticity— Bring it to a professional coin dealer or utilize services such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) to verify!
Think About Selling It—This authentic coin might be sold via a reputable auction house or collector market or on auction websites.

Final Thoughts

The very idea that a mere penny could possibly be worth millions of dollars is perplexing, perhaps even unbelievable, but it is real. Rare pennies like the Lincoln Wheat Penny valued over $6.7 million do still exist; one could be lucky enough to find one.

It is most propitious to rummage through that pocketful of change just for giggles; you will never know; it might just sit in your pocket, waiting to be discovered. All prices are subject to market demand and condition. Always consider consulting a professional source when purchasing or selling rare coins.