The $6.4 Million Lincoln Wheat Penny: A Tiny Coin with a Huge Value
Imagine finding a regular penny in your pocket, only to learn it’s worth over $6 million. Sounds unbelievable, right? But it’s true. A rare version of the 1943 Lincoln Wheat Penny once sold for $6.4 million at auction. Even crazier—some of these pennies might still be hiding in regular circulation. That’s why collectors and everyday people are now checking their spare change, hoping to strike it rich with a tiny copper coin.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny first appeared in 1909 to honor President Abraham Lincoln’s 100th birthday. It was the first U.S. coin to feature a real person. Artist Victor David Brenner designed Lincoln’s portrait for the front of the coin, while the back showed two wheat stalks surrounding the words “ONE CENT” and “UNITED STATES OF AMERICA.” These “wheat pennies” were made until 1958, after which the U.S. Mint switched to the Lincoln Memorial design. While millions were made, certain rare ones—like the 1943 copper penny—are incredibly valuable.
How a Wartime Mistake Made History
In 1943, the U.S. was deep in World War II. Copper was needed to make weapons and other military gear. So the Mint made pennies from zinc-coated steel instead of copper. But by mistake, a few copper blanks from 1942 were still in the machines. These rare 1943 copper pennies were struck and released by accident—only around 20 are known to exist. That mistake turned them into one of the rarest and most valuable coins in U.S. history.
Why Is This Penny Worth Millions?
Several things make the 1943 copper penny so valuable:
- It’s extremely rare – only about 20 are known.
- It’s a mistake – it shouldn’t exist at all.
- It’s part of World War II history – minted during a time of global crisis.
- It’s highly sought-after – collectors love rare error coins.
- It has a great story – accidents like this capture public interest.
When one of these coins goes to auction, collectors are willing to pay millions.
How to Spot One of These Rare Pennies
Think you might have a valuable 1943 copper penny? Here’s how to tell:
- Color: Steel pennies look silver-gray, while copper ones are brown or reddish.
- Magnet test: A steel penny will stick to a magnet. A real copper one won’t.
- Weight: A copper penny weighs about 3.11 grams. A steel one is lighter at 2.7 grams.
- Check the date: Look for the year 1943 on the front of the coin.
Be careful—some people fake these coins by copper-plating steel pennies or altering the dates. If you think you’ve found one, get it verified by a professional coin expert.
Where Could These Rare Pennies Be Hiding?
Although most of these coins have likely been found, a few might still be out there. You could find one in:
- Old piggy banks
- Inherited coin collections
- Coin rolls from the bank
- Loose change jars
Coins passed down through families are often the best chance, especially ones saved during the 1940s.
Real Stories of People Who Found Them
Over the years, several people have made headlines by finding 1943 copper pennies:
- Don Lutes Jr. found one in his high school lunch change in 1947. He kept it for decades, and it later sold for $204,000.
- Marvin Beyer, a teenager in 1958, found one and eventually sold it for over $40,000.
These stories remind us that life-changing discoveries can happen in the most ordinary places.
Other Rare Pennies to Watch For
While the 1943 copper penny is the most famous, other Lincoln Wheat Pennies are valuable too:
- 1909-S VDB – Worth $1,000+ even in worn condition.
- 1914-D and 1931-S – Also rare and valuable due to low mint numbers.
- Doubled die coins – Coins with misprinted designs that appear doubled.
Most Lincoln Wheat Pennies made after 1934 aren’t very valuable, unless they’re in mint condition or contain an error.
Will These Pennies Become Even More Valuable?
Yes! As time passes and more coins disappear into collections, the remaining 1943 copper pennies could grow even more valuable. Every time one shows up at auction, it makes headlines. Their value is likely to rise as fewer coins are found and demand keeps growing.
So next time you get change at the store or clean out an old jar of coins, take a closer look. You just might be holding a million-dollar penny in your hand.
