A pennies are just small change that we rarely notice. But what if one of those ordinary coins in your pocket or piggy bank might be worth nearly $1 million? That’s the astonishing truth behind a specific Lincoln Wheat Penny that may still be out there lying in plain sight, waiting to be found.
Yes, a Lincoln Wheat Penny worth $991,000 could still be circulating, and it might just end up in a person’s possession at a gas station, vending machine, or checkout counter.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny is a historic U.S. coin that was produced between 1909 and 1958. Created by Victor D. Brenner, it shows President Abraham Lincoln on the obverse and two sheaves of wheat on the reverse for which it is nicknamed the “Wheat Penny.”
The Lincoln Wheat Penny was the first U.S. coin to depict a real person, and as such, it is an important part of numismatic history.
Why is one Lincoln Wheat Penny worth $991,000?
Although tens of millions of Lincoln Wheat Pennies were made, not many of the extremely rare varieties are worth huge amounts.
The penny that sold for $991,000 is rumoured to be one of the ultra-rare 1943 Lincoln Wheat Pennies minted in copper instead of zinc-coated steel.
The 1943 Copper Error Penny
During World War II, copper was reserved for war purposes, so the U.S. Mint minted pennies from zinc-coated steel. But because of an error at the mint, a few copper planchets (blanks) from 1942 were misused in 1943.
The error pennies were minted in copper and were put into circulation perhaps unbeknownst to anyone at the time. Only 10 to 15 authentic 1943 copper pennies are believed to exist, and they are considered the “Holy Grail” of coin collecting.
One such coin sold for $991,000 at auction, and numismatists believe others may still be out there.
How to Identify the $991,000 Wheat Penny
If you’re curious whether your old penny might be one of these ultra-rare treasures, here’s what to look for:
- Date: 1943
- Material: It shouldn’t cling to a magnet (steel pennies will, copper won’t).
- Color: A reddish-brown or copper color rather than the normal silver-grey of steel coins.
- Weight: Copper pennies weigh 3.11 grammes, but steel ones weigh around 2.7 grammes.
- Mint Mark: Some of these speciality pennies can have a “D” (Denver) or “S” (San Francisco) mint mark below the date.
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It’s important to have any potentially valuable coin graded by professional grading services such as PCGS or NGC.
Other Valuable Lincoln Wheat Pennies to Look Out For
Although the 1943 copper penny is the most well-known, other Lincoln Wheat Pennies can also be very valuable, including:
- 1909-S VDB—The first year of issue, with the initials of the designer. Worth thousands.
- 1914-D—A key date with low mintage.
- 1922 No D—A scarce variety with an absent mint mark.
- 1944 Steel Penny—Another error in minting when steel planchets were utilized after WWII.
Are These Rare Pennies Still Present in Circulation?
Yes although unlikely, it’s not impossible. Throughout the decades, numerous rare coins have turned up in normal circulation. Individuals tend to overlook pennies that are old, placing them in jars or giving them away, never realizing their value.
That is why coin experts always recommend double-checking your change. There have been accounts of fortunate people discovering worthwhile coins in parking lots, rolls of coins, or change from the grocery store. The chance is small but not nonexistent and that is what makes the search fun.
Why the Wheat Penny Is Still a Collector’s Favourite
The Lincoln Wheat Penny has an old-world attractiveness and historical significance that will attract both the novice and experienced collector. The affordability of the coin (in more common years) provides a great starting point for new collectors, while the more rare issues are serious investment possibilities.
Collectors commonly construct complete Lincoln Wheat Penny sets, looking for every mint year and mark from 1909 through 1958. Amassing a full collection particularly with the gems like the copper penny in 1943 may take an entire lifetime.
How to Start Searching for Rare Pennies
If this tale has motivated you to examine your coins more thoroughly, here’s where to get started:
- Check your change every day particularly for coins that pre-date 1959.
- Rummage in old jars or bequests lots of scarce coins get overlooked.
- Purchase penny rolls at banks and sort them through (a hobby known as “coin roll hunting”).
- Magnetic sorting of steel pennies away from copper ones.
- Weigh suspected coins using a digital scale that weighs to 0.01 grammes.
- Compare your coins with confirmed images on the internet.
- Forward potential discoveries to experts for grading and authentication.
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What If You Find One?
If you believe you’ve found a scarce Lincoln Wheat Penny particularly a 1943 copper example do not clean it, since cleaning will reduce its worth. Instead:
- Handle it gingerly by the edges.
- Set it in a coin flip or protective holder.
- Call a qualified dealer or grading service for analysis.
Consider selling it at a large auction or through a reputable numismatic broker.
Final Thoughts
A penny saved might just be a fortune earned. The tale of the Lincoln Wheat Penny that sold for $991,000 is proof of how mundane things can contain hidden worth. Though it’s unlikely to find one, it’s not impossible and the excitement of the search is half the adventure.
So the next time you happen upon a penny, don’t discard it. That tiny piece of copper may prove to be your entryway into a six-figure payday.
FAQs:-
What makes the Lincoln Wheat Penny worth $991,000?
A rare error or unique minting, like a 1943 copper version, makes it extremely valuable to collectors.
How can I identify a valuable Lincoln Wheat Penny?
Check the year (like 1943 or 1909-S VDB), mint mark, and composition copper pennies from steel years are especially rare.
Which year is the rarest Lincoln Wheat Penny?
The 1943 copper penny and 1909-S VDB are among the rarest and most valuable.
