Consider walking into a business, using change to make a payment, and inadvertently losing a coin worth up to $2 million. Doesn’t it sound like a fairy tale? However, the limited-edition Lincoln Wheat Penny, a small copper coin that can currently be found in a pocket, jar or purse, makes it quite possible. This penny, which is still in use as a common currency despite its extraordinary value, has captured the attention of coin and history buffs.

Why Is This Lincoln Penny So Valuable?

The Lincoln Wheat Penny, first minted in 1909, is already a favorite among collectors due to its historical design and limited production runs. However, it is the 1943 copper Wheat Penny version that is so highly valued at a price of up to \$2 million.

Here’s the surprise: during World War II in 1943, the U.S. Mint temporarily changed from copper to zinc-coated steel in order to save copper for the military. But a few strips of copper blanks made in 1942 slipped into the minting machines by mistake and were used to stamp 1943 pennies. Those copper incarnations of the 1943 penny are classified as minting errors—and since so few were produced, they are priceless.

How to Find the $2M Lincoln Penny

The million-dollar penny appears identical to all the others at first glance, but there are definite methods of identifying it if you know what you’re doing:

• Date: 1943
• Material: The rare type is copper, not the steel that was silvery-colored and used that year.
• Magnet Test: An authentic 1943 copper penny will not adhere to a magnet, whereas the steel ones will.
• Color: It will possess the usual copper-red or brown color, unlike the silvery color of the majority of 1943 pennies.

If you think you’ve found one, take it to a professional coin dealer or send it to a certified grading service such as PCGS or NGC to authenticate and value it.

You might wonder—why is such a valuable penny still circulating? The reality is, most people just don’t know what they possess. It’s simple for rare coins to get overlooked and pass through hands in everyday transactions. A number of these pennies have even been found within pocket change, inherited coin jars, or in old piggy banks.

Since only somewhere between 10 to 20 actual 1943 copper pennies exist, the chances are low—but not impossible. New specimens have appeared throughout the years, regularly making overnight millionaires out of unsuspecting finders.

Final Thoughts

The story of the $2 million Lincoln Wheat Penny reminds us that treasures can be found in the most ordinary places. While the chances of finding one are slim, it costs nothing to take a closer look at your spare change. You might just be holding history—and a small fortune—in the palm of your hand.

So the next time you’re emptying your pockets, don’t just disregard the pennies. One of them might just be the hidden treasure everyone’s looking for.

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