The Lincoln Wheat Penny Worth $800,000 – Could You Have One?
Most of us barely notice the pennies that clink around in our pockets or hide in change jars. But one unassuming coin, the Lincoln Wheat Penny, has been known to sell for as much as $800,000. Yes—you read that right. One cent, nearly a century old, has turned into a coin collector’s dream. And incredibly, a few of these ultra-rare coins may still be hiding in circulation today.
The valuable penny in question is the 1943 Bronze Lincoln Wheat Penny, a fascinating result of a wartime minting error. These coins, once used in everyday transactions, are now so rare and valuable that finding one is like striking gold—literally. Let’s explore how this penny came to be, why it’s so valuable, and how you might be able to identify one.
What Makes the 1943 Bronze Wheat Penny So Special?
In 1943, the U.S. Mint shifted to using zinc-coated steel instead of copper for producing pennies, conserving copper for the war effort. But in a rare mistake, a few leftover bronze planchets (blanks made of 95% copper) were accidentally used in the minting process.
The result? A small number of 1943 bronze pennies were created and unknowingly released into circulation.
This error, known as a wrong planchet strike, has become one of the most famous and sought-after mistakes in U.S. coin history. Fewer than 20 authentic examples are known to exist today. One particularly pristine version sold at auction for a staggering $840,000, setting a benchmark for Lincoln penny collectors.
Why This Coin Reached an $800,000 Price Tag
Several factors contribute to the immense value of this coin:
- Extremely Limited Mintage: Only a few were ever struck, and even fewer survive in high condition.
- Historical Significance: It’s a wartime coin with a backstory tied to World War II and U.S. resource conservation.
- Minting Error: Errors often increase value among collectors, especially when they are as dramatic as this.
- Condition: Coins in uncirculated or mint-state (MS) grades, especially those graded MS-64 and above, command top dollar.
With all these elements in play, the 1943 bronze penny has become a symbol of rarity, history, and collector prestige.
How to Identify a Potential $800,000 Penny
You don’t need to be an expert to do an initial check for this rare penny. Here’s what to look for:
- Date: It must read 1943.
- Color: Most 1943 pennies are silver-gray (steel), but the bronze version is reddish-brown like pre-1943 copper coins.
- Magnet Test: Steel pennies are magnetic. The bronze ones are not.
- Weight: Steel pennies weigh about 2.7 grams; bronze versions weigh around 3.11 grams.
- Mint Mark: Look below the date. You may see a “D” (Denver), “S” (San Francisco), or nothing (Philadelphia).
If you find a 1943 penny that doesn’t stick to a magnet and has the copper tone, do not spend it—get it authenticated immediately.
Beware of Counterfeit Coins
The fame of the 1943 Bronze Wheat Penny has unfortunately made it a target for counterfeiters. Common frauds include:
- Copper-plated steel pennies.
- Altered dates, often changing a 1948 to look like a 1943.
Even skilled fakes can usually be caught with the weight and magnet tests, but for confirmation, your best bet is submitting it to a reputable third-party grader like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company).
Still in Circulation – Fact or Myth?
Amazingly, yes—some of these coins have been discovered in everyday circulation. While incredibly rare, they’ve turned up in pocket change, inherited collections, and estate sales. At least one school-aged boy found one decades ago and ended up selling it for a small fortune.
So while the odds are slim, it’s not impossible that one is still out there. That’s why coin enthusiasts—and even casual treasure hunters—still inspect their pennies closely.
FAQs
Q1: How many 1943 Bronze Lincoln Pennies exist today?
Fewer than 20 verified specimens are known to exist, though others may be undiscovered.
Q2: Are all 1943 pennies valuable?
No. Most were made of steel and are worth around 10 to 50 cents. Only the bronze error coins are valuable.
Q3: What is the best way to verify a rare coin?
Submit it to a professional coin grading service like PCGS or NGC for authentication and valuation.
Q4: Can I still find one in circulation?
Technically yes. A few have surfaced this way, but it’s extremely rare.
Conclusion
The story of the $800,000 Lincoln Wheat Penny is one of history, luck, and human error. What was once a one-cent coin used in everyday life is now a coveted collector’s item that could change someone’s fortune overnight. While most 1943 pennies are common steel versions, the elusive bronze variants remain a prized catch.
So the next time you see a 1943 penny, don’t dismiss it. Run the magnet test, inspect the color, and check the weight. Because if it’s a bronze version, you might just be holding one of the most valuable coins in U.S. history—and it could still be sitting in your change jar.