Most people ignore pennies, thinking they’re not worth much. But did you know that one special Lincoln Wheat Penny has been valued at a jaw-dropping $12.1 million? That’s right—a single one-cent coin could be worth a fortune. Even more shocking, this rare penny could still be in someone’s pocket or coin jar today.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny is an old U.S. coin made between 1909 and 1958. It has a picture of Abraham Lincoln on the front and two wheat stalks on the back. While most of these coins are only worth a little more than face value, some rare versions are worth thousands—or even millions—because of errors or low minting numbers.
Why Is One Penny Worth $12.1 Million?
The most valuable Lincoln Wheat Penny is a rare error coin from 1943. That year, during World War II, the U.S. Mint used steel instead of copper to make pennies to save copper for the war. But by accident, a few pennies were made from leftover copper. These “1943 copper pennies” are extremely rare. Only a few are known to exist, making them incredibly valuable to collectors.
The combination of a minting mistake and historical significance turned this simple coin into a multi-million dollar treasure.
How to Spot a Rare 1943 Copper Penny
Want to check if you have the million-dollar penny? Here’s how:
- Check the date: Look for the year 1943.
- Test it with a magnet: If the coin sticks, it’s steel (common). If it doesn’t, it might be copper (rare).
- Weigh it: Steel pennies weigh about 2.7 grams. Copper ones weigh around 3.11 grams.
- Look for details: Some other rare Wheat Pennies include the 1909-S VDB (first edition with designer initials) and the 1955 Double Die (shows doubled letters or numbers).
Other Valuable Lincoln Wheat Pennies
Even if you don’t have the $12.1 million penny, you might still own something valuable. Here are a few others to look for:
- 1909-S VDB – First-year coin with initials “VDB.” Worth thousands.
- 1955 Double Die – The letters and numbers look doubled. These can sell for high prices too.
- Clean, uncirculated Wheat Pennies – Even common dates can be valuable in excellent condition.
What To Do If You Find a Rare Penny
If you think you’ve found a rare Lincoln Wheat Penny:
- Don’t clean it – Cleaning can hurt its value.
- Use a coin holder – Protect it from scratches.
- Get it checked – Show it to a professional coin dealer or grading service like PCGS or NGC.
- Sell it wisely – If it’s truly valuable, consider auction houses like Heritage Auctions or Stack’s Bowers.
Why People Love Collecting Coins
Coin collecting isn’t just about money. Many collectors love learning the history behind old coins. Some see them as miniature pieces of art. Others enjoy the challenge of finding rare coins. Whether you’re in it for the value or the story, it’s a fun and rewarding hobby.
Even though finding a $12.1 million penny is rare, it’s possible. The excitement of the hunt and the chance to discover history in your pocket is what makes coin collecting so special.
FAQs
1. How many 1943 copper pennies exist?
Only about 10 to 20 are known to exist. They were accidentally made when leftover copper blanks were used in 1943.
2. How can I tell if my 1943 penny is copper or steel?
Try using a magnet. Steel pennies stick to magnets; copper ones don’t. You can also weigh it—copper weighs about 3.11 grams.
3. Is it worth checking my coin jar for rare pennies?
Absolutely! While rare pennies are hard to find, it costs nothing to look. People have found valuable coins in everyday change.
4. Where can I sell a rare penny?
Rare pennies can be sold through professional coin dealers, auctions, or online marketplaces. Always get the coin authenticated first.