We have no idea how often we exchange money in our daily lives, and we never realize that a coin in our pocket or piggybank may be worth crores, let alone billions! Yes, the rare Lincoln Wheat Penny that we are discussing today is reportedly worth $3 billion, or almost ₹25 thousand crores. Hearing this can seem a little odd, but it is absolutely true.
So let’s know why this coin is so valuable, how can it be identified, and can you also have such a rare coin?
Lincoln Wheat Penny: A historical coin
Lincoln Wheat Penny is one of the most popular and oldest coins in the history of America. It was first made in 1909 to honor the 16th President of America, Abraham Lincoln.
This coin has a picture of Lincoln on the front and two wheat ears on the back – hence the name “Wheat Penny”.
This design was in circulation from 1909 to 1958. Although these coins were made in millions, some special years and special minting errors put them on the list of the world’s rarest and most valuable coins.
Why is this coin worth $3 billion?
Now the question arises – how can a small coin sell for billions?
The answer lies in the rarity, historical importance and collectors’ craze for this coin.
- Some of the pennies made in some special years like 1943, 1944, 1909-S VDB, 1914-D have survived in very small numbers.
- In 1943, when the US started making pennies from steel to save copper, some coins were accidentally made in copper. These “error coins” are considered extremely rare.
- If the coin is in uncirculated condition, has no scratches, and is made by a historical mint (such as the San Francisco Mint), its price can skyrocket.
According to some reports, the estimated price of a special Lincoln Wheat Penny at auction has reached $3 billion. Although this is unconfirmed, it shows how much demand there is for this coin.
How to identify this rare coin?
If you are wondering whether you also have such a coin, then pay attention to these things:
1.Look at the year
The rarest years are 1909-S VDB, 1914-D, 1922 Plain, 1943 Copper and 1944 Steel.
2. Metal Check
Use a magnet to identify a 1943 Copper Penny. If it doesn’t stick to the magnet, it may be a rare coin.
3. Mint Mark
There is a small “S” (San Francisco), “D” (Denver) or “No Mark” on the bottom of the coin. Coins with certain mint marks are considered extremely valuable.
4. Condition
If the coin is unworn, clean and shiny, it may be worth a lot of money.
What to do if you find such a coin?
If you think you have a Lincoln Wheat Penny that may be rare, follow these steps:
- Have it examined by a certified coin expert.
- Have it appraised by Coin Grading Services such as PCGS or NGC.
- Keep the coin safe and contact online auctions or collector groups.
- Never sell it to an unknown or local shopkeeper at a low price.
Can such a coin be found in India?
Even though this coin is American, it can be owned by many people in India too – especially in families whose members have returned from America or who have a collection of old international coins. So if you also have old foreign coins in your house, then definitely check them carefully.
Conclusion: A small thing that can change your fate
Lincoln Wheat Penny is not just a coin, but a part of history. This coin is an example of how even a small thing can have a value of crores and billions hidden in it.
FAQs
Why is the Lincoln Wheat Penny worth $3 Billion?
A few rare Lincoln Wheat Pennies, like the 1943 copper penny, were produced in very small quantities and are considered to have historical value, hence worth billions.
How do I determine if this is the rare coin?
Examine closely the year (e.g. 1943 or 1944), mint mark (S, D), and metal (copper or steel) on the coin. The 1943 copper penny is the rarest.
Are these coins still in circulation today?
Yes, these coins still appear in circulation occasionally, particularly in old coin collections or family treasures.
What should I do if I find such a coin?
Have it authenticated by a qualified coin expert or grading service (e.g. PCGS, NGC) and store it safely.
Can this coin be found in India too?
If you have a family of old foreign coins or somebody has come back from America, then chances are high that you might have one such coin.
