The humble Lincoln Wheat Penny, often overlooked in everyday pocket change, has become the center of attention for collectors and treasure hunters alike. While most are worth just a cent, some rare wheat pennies are valued at hundreds of thousands of dollars — and one particular example has fetched as much as $565,000 at auction.
What makes this coin so valuable? Let’s dive into the story behind the Lincoln Wheat Penny that might still be circulating — and what you should look for before spending your next penny.
What Is a Lincoln Wheat Penny?
The Lincoln Wheat Penny, also called the “Wheatie” or “Wheat Back,” was minted from 1909 to 1958. It features Abraham Lincoln on the front and two wheat stalks on the reverse. These coins are a favorite among collectors for their vintage look, rich history, and, in some cases, incredible rarity.
The Penny Worth $565,000: 1943 Bronze Lincoln Wheat Penny
Why It’s So Rare:
In 1943, due to World War II, the U.S. Mint switched from copper to zinc-coated steel to conserve copper for the war effort. However, a few bronze planchets (blanks made of 95% copper) were mistakenly left in the presses and struck into pennies.
These 1943 bronze Lincoln wheat pennies are among the rarest and most valuable coins in U.S. history.
- Only a handful are known to exist.
- Most were struck at the Philadelphia Mint, but a few came from the San Francisco (S) and Denver (D) mints.
- One in top condition sold for $565,000 at auction!
How to Identify a 1943 Bronze Wheat Penny
If you find a 1943 penny, here’s how to spot a possible fortune:
- Test with a magnet: Steel cents stick to a magnet. A real 1943 bronze penny won’t.
- Check the weight:
- Steel cent: ~2.7 grams
- Bronze cent: ~3.11 grams
- Look closely at the date and color:
- Should have a reddish-brown color, not silver or gray.
- Make sure it’s not altered from a 1948 (some scammers file the “8” into a “3”).
Other Rare Wheat Pennies to Watch For
While the 1943 bronze penny is the most valuable, there are other Wheat Pennies worth a fortune:
- 1909-S VDB – Worth $1,000 to $50,000+
- 1914-D – Up to $10,000+
- 1922 “No D” – $500 to $10,000+
- 1955 Doubled Die – $1,000 to $100,000+
- 1944 Steel Penny (another error coin) – Up to $100,000+
Could It Still Be in Circulation?
Surprisingly, yes. While most rare pennies have been pulled out of circulation by collectors, it’s not impossible for one of these treasures to turn up in a roll of coins from the bank, an old piggy bank, or even your pocket change.
Coin dealers and auction houses report occasional finds by average people, especially when old coin collections are handed down.
What to Do If You Think You Found One
- Do NOT clean the coin — cleaning reduces its value.
- Handle it carefully — by the edges, with gloves if possible.
- Weigh and test it — use a precise scale and a magnet.
- Get it authenticated by a professional grading service like PCGS or NGC.
Final Thoughts
The Lincoln Wheat Penny might be small in size, but its value can be monumental. The 1943 bronze wheat penny, with a staggering value of $565,000, is a true hidden gem. So, the next time you sort through your change, remember — your lucky penny could be worth a small fortune.
Keep an eye out. History and hidden treasure might be in your pocket.