Everybody has at some point overlooked the little coins in their pockets, but what if you found out that one of them might be worth almost $8.8 million, or Rs 73 crore? Indeed, we are referring to the Lincoln Wheat Penny, a rare currency that is still used in everyday transactions.
What is Lincoln Wheat Penny?
Lincoln Wheat Penny is a historic American coin that was first issued in 1909. This coin is now discontinued, but it was in great circulation in the years from 1909 to 1958. On one side of this coin is a picture of US President Abraham Lincoln and on the other side there are two ears of wheat – hence it is called “Wheat Penny”.
Why such a big price?
You must be wondering how a simple looking coin can reach $ 8.8 million? The answer is – rarity and minting error. In some specific years, coins were made in very small numbers or had some printing error. Collectors are ready to buy such coins at a very high price.
Which Lincoln Wheat Penny is the most valuable?
According to reports so far, the 1943-S Lincoln Wheat Penny (which was minted on copper by mistake) is considered the most valuable. This is a rare minting error, because almost all pennies were made on steel that year, but some were also made on copper by mistake. One such coin was recently auctioned for $8.8 million.
How to identify if you also have such a coin?
If you have also decided to look at your old coins, then keep these things in mind:
- Look at the year: Check any Lincoln Penny from 1909 to 1958 carefully.
- Identify the material: If the 1943 coins look like copper, then pay special attention.
- Keep an eye on the Mint Mark: There may be an S, D or any other mark below the coin indicating its origin.
- Condition: The better the condition of the coin, the higher its price can be.
What to do if you have such a coin?
First of all, do not panic! It is very important to get such a coin evaluated. For this, you can contact an expert coin appraiser or numismatic expert. After that you can sell it on auction houses or online platforms like eBay, Heritage Auctions etc.
Can such a coin be found in India too?
American coins are not common in India, but it is not impossible. Sometimes such coins can also reach India through foreign travel, gifts or old collections. So if you also have a box of old coins in your house, then definitely check it carefully once.
Conclusion:
Many times life gives us such opportunities which we have not even imagined. If a simple looking Lincoln Wheat Penny can become a treasure worth millions, why not give your old coins a try? You might be the next millionaire!
FAQs
What is the Lincoln Wheat Penny?
A U.S. penny produced between 1909 and 1958 with Abraham Lincoln on the front and wheat stalks on the back.
Why is the Lincoln Wheat Penny worth $8.8 million?
Extremely rare renditions—such as the copper penny of 1943—were accidentally printed and are today highly prized among collectors.
How do I know if I have a rare Wheat Penny?
Search for the year (particularly 1943), mint marks (e.g., “S” or “D”), and if copper rather than steel for the 1943 models.
How do I have my coin appraised?
You can send it to numismatic professionals, coin shops, or to professional grading services such as PCGS or NGC.
Can I sell a rare penny on the internet?
Yes, such type of institutions such as eBay, Heritage Auctions, or specialty coin auction houses are common places to present rare coins.
