Rare Lincoln Wheat Coin: Have you ever found a penny in your pocket and thought, “It’s just one cent”? Well, what if I told you that one of those small coins could be worth up to $150,000? That’s right – a rare Lincoln Wheat penny, specifically the 1943 copper Wheat cent, has brought staggering sums at auction. And there’s a slim chance that one might be lurking in your change jar.
This isn’t just coin collector folklore—it’s backed by history, minting errors, and near-rarities. Even a worn, vintage penny from the early days can contain enough worth to turn your week (or year) around. Let’s break down what makes this coin so special, how to identify it, and why it could be the most valuable coin in your pocket.
Rare Lincoln Wheat Coin
| Feature | Details |
|---|---|
| Coin Name | 1943 Lincoln Wheat Penny (Copper) |
| Estimated Value | Up to $150,000 or more at auctions |
| Minting Error | Mistaken use of leftover copper planchets in 1943 |
| Authenticity Test | Non-magnetic, weighs ~3.11g, reddish color |
| Most Common Counterfeits | Steel pennies altered to look like copper |
| Trusted Grading Services | PCGS, NGC |
| Other Rare Pennies | 1909-S VDB, 1955 Double Die |
| Official Info | U.S. Mint |
A $150,000 penny may sound like fantasy, but it’s a very real reality. The most valuable, and, in fact, rare coin in the history of U.S. numismatics is the 1943 copper Lincoln Wheat cent. Equipped with the right equipment and knowledge, you might just be one of the lucky ones to strike one in loose change.
So the next time you’re handed a handful of pennies, take a second look. That dull, dirty coin could be your ticket to an unforgettable payday—or the start of a brand-new hobby that pays off in more ways than one.
The History Behind the $150K Penny
The American Mint had to reserve copper for war machinery during World War II. So in 1943, pennies were made of zinc-coated steel instead of copper as previously used. The plan was to reserve the copper for essential military machinery like bullets, wires, and equipment.
However, a few 1942 copper planchets were left over accidentally in the minting equipment. These blanks were then accidentally stamped with the 1943 die, leading to a short run of 1943 copper pennies to be put into circulation.
Fewer than a dozen original 1943 copper pennies are reported to exist today. Each authenticated coin is a numismatic gem, and their rarity combined with their historical significance stirs intense demand among collectors. One sold over $204,000 in 2019 via Heritage Auctions, and others have sold for similar prices.
How to Identify a 1943 Copper Lincoln Wheat Penny
Discovering one of these very rare coins is surprisingly simple once you learn what to do:
1. Look for the Year and Design
Look for the year “1943” on the front (obverse) of the penny. It should also bear Abraham Lincoln’s profile. Two ears of wheat should be on the reverse side, thus the coin’s nickname—Wheat penny.
2. Look at the Color
A genuine 1943 copper penny will be reddish-brown. Compare it to other copper coins in your collection. The regular 1943 steel pennies are silvery or grayish in color.
3. Try a Magnet
Copper is not magnetic, but steel is. A magnet test can reveal if your 1943 penny could be the real deal. If it is attracted, it is steel. If not, well done—you might have a valuable rarity.
4. Weigh the Coin
Employ an accurate digital scale to weigh your coin:
- Copper penny: ~3.11 grams
- Steel penny: ~2.7 grams
Even a slight weight discrepancy can indicate whether your penny is genuine or not.
Pro Tip: Handle rare coins carefully. Use gloves or soft surfaces to avoid adding scratches that could lower the coin’s value.
Watch Out for Fakes and Altered Coins
Due to its very high value, the 1943 copper Wheat penny is also one of the most forged coins in the U.S. coin market. Some forgers copper-plate regular 1943 steel pennies or alter other date pennies (like 1945 or 1948) to read “1943.”
To protect yourself:
- Do not polish or clean the coin, which can remove identifying features and reduce resale value.
- Have it graded by an independent third-party grading company before selling it.
- Only conduct business with reputable coin dealers and auction houses. Trustworthy grading services include PCGS and NGC.
A reputable grading service will authenticate, check the physical integrity of the coin, and assign a grade that establishes market worth.
Other Valuable Lincoln Wheat Pennies to Search For
The 1943 copper cent is the holy grail, but there are several other Lincoln Wheat pennies worth your notice—and perhaps thousands of dollars.
1909-S VDB Penny
- Made at San Francisco
- Designed by Victor David Brenner, whose initials are struck as V.D.B.
- Low production: Just 484,000 were made
- Worth: $2,000 to $12,000, depending on the condition
1955 Double Die Penny
- Displays a distinct doubling effect on “LIBERTY,” the date, and other letters
- Doubling can be observed without the use of magnification
- Value: $1,000 to $15,000+, premium prices for perfect specimens
1922 No D Penny
- Minted in Denver (“D” mintmark absent because die is worn)
- Extremely few known
- Value: Up to $10,000 for high-grade specimens
Collecting Wheat pennies is a hobby, but it can take on the form of an investment. Each of these coins is a unique story built upon American minting history.
Step-by-Step Guide to Finding Rare Coins in Your Change
Want to test your luck at discovering one of these scarce coins? Here’s a handy guide to begin:
Step 1: Collect Your Pennies
Begin with your piggy bank, old jars, or ask relatives if they have loose change accumulated. Estate sales and flea markets are also good places to look.
Step 2: Search for Key Dates
Target pennies dated:
- 1943 (check for copper)
- 1909 (search for “S VDB”)
- 1955 (check for doubling)
- 1922 (check for missing “D” mintmark)
Step 3: Use the Magnet Test
Use any household magnet to check for steel vs. copper. A non-magnetic 1943 penny might be valuable.
Step 4: Weigh Suspicious Coins
Invest in a small digital scale that measures in grams. Accurate weight readings can confirm if you’ve got something special.
Step 5: Get a Professional Opinion
If you think you’ve struck paydirt (or copper), get the coin submitted to PCGS or NGC for a full analysis. This will ensure proper grading and resale.
Tip: Some coins, even if they’re scarce, will not sell at high prices unless they are flawless (so-called “uncirculated” or “mint state”).
Why Collectors Are Fixated on the 1943 Copper Penny
There are few coins in existence that have the same mixture of history, intrigue, and value as the 1943 copper penny. The coin did not exist on schedule—but it did get away. Even that makes it almost mythical.
Numismatists, or coin collectors, are intrigued by error coins—incorrect mint productions that are worth just what they’re worth because they’re an error. In the case of the 1943 copper penny, the error occurred while America was fighting a war, so it is historically relevant.
Having such a coin is not just about money—it’s having a piece of history. And to others, the thrill of rummaging through change is all in the game. It’s an activity that involves patience, knowledge, and excitement.
FAQs:
How to spot a wheat penny?
Wheat pennies have Abraham Lincoln’s portrait on the front and two stalks of wheat on the back. If your coin is not that way, it is not a wheat penny. Wheat pennies also are constructed of a copper-zinc blend, which causes them to have a different color and weight than other coins.
How to tell if a penny is valuable?
If the mintage is less in a specific year, this will only serve to make the coin more valuable. Low mintage years include, but are not limited to, 1931, 1933, 1939 and 1955. If your penny contains an error this could make it more valuable exponentially because error coins are more valuable to collectors because they are rare.
Are wheat pennies magnetic?
One of the easy tests to determine whether a coin is a 1944 Steel Wheat Penny is to see if it adheres to a magnet; genuine steel cents are magnetic, distinguishing them from their copper cousins. These mistaken coins, particularly if in excellent shape, are extremely rare and can be of immense interest to collectors.
