Imagine walking past a penny on the ground, unaware that it might be worth nearly $880,000.
It sounds unbelievable—but for one ultra-rare version of the Lincoln Wheat Penny, that’s the reality. This unassuming coin could turn a spare change find into a once-in-a-lifetime discovery.
In this guide, we’ll uncover the history of the Lincoln Wheat Penny, explain what makes some worth a fortune, and show you exactly how to identify one of these rare gems.
A Look Back: The History of the Lincoln Wheat Penny
First introduced in 1909 to honor the 100th anniversary of President Abraham Lincoln’s birth, the Lincoln Wheat Penny made history as the first U.S. coin to feature a real person.
- Designer: Victor D. Brenner
- Obverse: Lincoln’s right-facing portrait
- Reverse: Two wheat stalks, one on each side of the coin (hence the name “Wheat Penny”)
These pennies were minted from 1909 to 1958. After that, the reverse design was changed to depict the Lincoln Memorial. While billions were made during the coin’s 50-year run, only a handful hold exceptional value today.
Why One Wheat Penny Is Worth $880,000
Among all the Lincoln Wheat Pennies, none are as coveted as the 1943 copper version—a coin that was never supposed to exist.
During World War II, copper was in high demand for ammunition. To conserve materials, the U.S. Mint produced pennies using zinc-coated steel in 1943. However, a few leftover copper planchets from 1942 were accidentally used to strike pennies in 1943.
These rare 1943 copper Wheat Pennies are now legendary among coin collectors.
- Only a few dozen are known to exist
- One pristine example has sold for up to $880,000 at auction
If you happen to find one, you’re not just holding a coin—you’re holding history.
Quick Facts: The $880,000 Lincoln Wheat Penny
| Feature | Details |
|---|---|
| Coin Name | Lincoln Wheat Penny |
| First Year Minted | 1909 |
| Rare Variant | 1943 Copper Error |
| Standard 1943 Material | Zinc-coated steel |
| Error Material | Copper |
| Estimated Top Value | $880,000 |
| Still in Circulation? | Possibly, though extremely rare |
| Key Identifier | Wheat reverse and copper color in 1943 |
Could You Still Find One Today?
Surprisingly, yes. These rare pennies occasionally surface in:
- Old piggy banks or coin jars
- Forgotten family heirlooms
- Casual change from cash transactions
- Estate sales or antique collections
People often don’t realize what they’re holding. That’s why checking your change could pay off in a big way.
How to Spot a 1943 Copper Lincoln Wheat Penny
Here’s how to determine if that old penny could be the big one:
✅ 1. Check the Year
Look for a 1943 date on a penny that looks copper or reddish-brown. Most 1943 pennies are steel (silver-colored), so a copper-colored one is a big clue.
✅ 2. Try the Magnet Test
Steel is magnetic, copper is not. If your 1943 penny doesn’t stick to a magnet, it might be the rare version.
✅ 3. Examine the Condition
Even circulated 1943 copper pennies are valuable. But the better the condition (no scratches or wear), the higher the price—up to $880,000 for mint-state examples.
✅ 4. Don’t Clean It
Avoid cleaning the coin. Scrubbing or polishing can damage its surface and reduce its value. Collectors prefer natural, untouched coins.
✅ 5. Get It Professionally Graded
If you think you’ve found a rare penny, send it to a certified coin grading service like PCGS or NGC for authentication and appraisal.
Why This Penny Is So Iconic
The Lincoln Wheat Penny isn’t just valuable—it’s meaningful.
- It commemorates a beloved U.S. president.
- It reflects a significant period in American history.
- It was the entry point into coin collecting for millions of people.
The rarity of the 1943 copper penny, combined with its historical context, makes it one of the most magical discoveries in the world of numismatics.
Final Thoughts
Don’t ignore the pennies in your pocket—they may be worth far more than one cent.
The 1943 copper Lincoln Wheat Penny, with an auction value as high as $880,000, is a powerful reminder that small things can hold enormous worth. Whether you’re a collector or a casual coin-checker, it’s always worth taking a closer look.
So empty that old jar, sort through your change, and keep your eyes open. You just might uncover one of the rarest treasures in American currency history.
FAQs: $880,000 Lincoln Wheat Penny
Q1: What makes the 1943 Lincoln Wheat Penny so valuable?
It was accidentally struck in copper instead of steel during wartime, making it one of the rarest coins in U.S. history.
Q2: How do I know if I have a copper or steel penny?
Use a magnet. Steel pennies are magnetic, copper ones are not.
Q3: Can I still find a rare penny in everyday change?
Yes, although it’s extremely rare. Many have been discovered in old collections or forgotten jars.
Q4: Should I clean my penny before showing it to a dealer?
No. Cleaning can reduce its value significantly. Keep it in its original state.
Q5: Where can I get a coin authenticated?
Submit your coin to professional grading services like PCGS or NGC for proper evaluation and certification.