Rare Lincoln Penny Valued at $2.7 Million Found in Circulation

Lincoln Wheat Penny Worth $2.7 Million: Is there a million-dollar coin in your pocket? Learn about the rare and valuable ‘Lincoln Wheat Penny’!

Can you believe that a small coin that you have in your pocket may be worth millions? It may sound odd, but it happens! Certain special ‘Lincoln Wheat Penny’ coins in America may still remain hidden in the pockets of individuals or in a collection of old coins. Owing to their historical significance, scarcity, and unique minting errors, they are one of the most sought-after coins worldwide.

If you possess an old coin and you are questioning whether it might be valuable or not, then this article is for you. Let’s explore these special coins in detail.

What is Lincoln Wheat Penny?

The Lincoln Wheat Penny was minted for the first time in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birthday, the president of the USA. It has been designed by a designer known as Victor D. Brenner.

• ???? Coin Design:
  • Abraham Lincoln’s face was engraved on the obverse of this coin.
  • Two stalks of wheat were on the reverse side, which became its face.
• Minting Period:
  • It was minted between 1909 to 1958, and then it was replaced by the Lincoln Memorial Penny.
• ???? Price and Rarity:
  • The majority of Lincoln Wheat Pennies are worth pennies, but some of them are worth thousands or even millions of dollars.

Its actual value is a function of how good shape it is in, what unique minting flaw it has, and what metal it is composed of.

Here is an interesting and detailed article for you in simple Hindi, in which we have discussed in detail about the rare “Lincoln Wheat Penny” of 1943. After reading this article you will understand why this coin is so valuable, how to identify it and what to do if you possess it.

1943 Bronze Penny – The Rarest and Most Valuable Coin!

During World War II, the US government restricted the use of copper as it was required to produce war materials. So in 1943, the US Mint produced coins by coating zinc on iron.

But by error, some coins were produced on old bronze planchets, which are among the rarest and most valuable coins in the world today.

Can there be a Million’s treasure hidden in your pocket?

Imagine you can become a millionaire by that small coin falling in your pocket. It feels unusual, yet it is undoubtedly true! One such rare case is a coin called “Lincoln Wheat Penny.” Particularly the 1943 Lincoln Wheat Penny that is crafted with copper could be worth $2.7 million today!

Why is it so worth that much money?

This coin is quite popular among numismatists. During 1943, when America was in the middle of World War II, the government made up its mind to produce all pennies in steel to conserve copper.

But in the process of producing the 1943 pennies, some old copper plates were mistakenly utilized. As a consequence, an extremely small amount of 1943 Lincoln Wheat Pennies with copper was produced. This error makes this coin so rare and valuable!

???? Why does the 1943 bronze penny cost so much?

• There are very few coins: It’s estimated that there are only 15-20 such coins available.
• Metal error: It was accidently done on bronze, whereas the other coins were done on steel.
• Price: The price of a 1943 bronze Lincoln penny sold as high as $2.7 million (approximately Rs 22 crore) in an auction recently.

How to determine whether your 1943 coin is bronze?

Perform a magnet test:

• If the coin adheres to a magnet, it is constructed out of steel (which is an average coin).
• If it does not adhere to a magnet, then it might be bronze and could be worth million dollar.

Other rare Lincoln Wheat Penny coins

While the 1943 bronze penny is the most valuable, some other rare Lincoln Wheat pennies have also sold for very high prices.

Coin	Value (USD)
1909-S VDB Low Minting, Rare Coin	$100,000
1914-D Rare Date	$100,000
1955 Double-Die Error	$50,000
1922 No D (Mintmark missing)	$12,000
1944 Steel Steel Planchet Error	$100,000

• ???? If you too possess an old Lincoln Wheat Penny coin, then surely check its price!

How to know if your coin is rare and valuable?

If you would like to know whether the 1943 Lincoln Penny you possess is genuine copper, here are some easy ways to tell:

1. Look at the date on the coin:
   • To begin with, the coin must read “1943”. If the date reads differently, it’s not that special coin.
2. Test it with a magnet:
   • If the coin adheres to a magnet, it’s steel and not special.
   • If the coin doesn’t cling to a magnet, it could be an actual copper penny!
3. Inspect the color and weight:
   • Steel coins are light in color and silvery.
   • Brownish-red in color, slightly heavier (3.11 grams) are rare copper coins.
4. Have it checked by an expert:
   • If your coin clears all these tests, have it checked by a professional numismatist. They can identify if it’s authentic or counterfeit.

Why is the scarcity of the 1943 Copper Lincoln Wheat Penny unique?

In the realm of coin collecting, scarcity decides the actual value of a coin. Only a few coins were made of the 1943 Copper Penny.

Up to now only 15-20 authentic 1943 Copper Lincoln Wheat Pennies have been found. This is the reason why this coin is so pricey!

Is there a need to be cautious of fake coins?

Absolutely! Since the price of this coin can go up to crores of rupees, fake coins are also made in large numbers.

How to identify a fake coin:

• Many people make a fake 1943 penny by changing the “8” of the 1948 coin to “3”.
• Some people coat a steel coin with copper so that it looks real.
• Always have a coin examined by a professional expert before purchasing or selling it.

If you are fortunate and come across this coin, take some serious steps:

• Don’t touch the coin excessively – grab it only by the edges, so that its quality is not spoiled.
• Keep it at the correct place – store it in a plastic cover or a dedicated box designed for coins.
• Get it appraised – Learn its true worth from a Certified Numismatist.
• Sell it at auction – These scarce coins usually sell for lakhs on platforms like Heritage Auctions, Stack’s Bowers or eBay.

Conclusion

The 1943 Lincoln Wheat Penny is not only a regular coin, but a scarce piece of history. If you come across this coin, it can turn your life around forever!

If you enjoyed this fact, then by all means pass it on to your family and friends. You never know, the next millionaire might be among your lot!

FAQ’s