The Lincoln Wheat Penny is undoubtedly one of the most recognizable coins in U.S. history First introduced in 1909 to mark the 100th anniversary of Abraham Lincoln’s birth, it was also groundbreaking in that it was the first U.S. coin to feature a president’s likeness Over a century later, the Lincoln Wheat Penny still holds a special place among collectors, especially rarer versions that can fetch eye-popping sums.
One particular coin, the 1943 Lincoln Wheat Penny made from bronze, has been known to reach prices as high as $900,000 an incredible value for a coin that may still be out there, hiding in plain sight.
The Legacy of the Lincoln Wheat Penny
Produced from 1909 to 1958, the Lincoln Wheat Penny is a symbol of American coinage. The coin’s obverse (front) features a profile of Abraham Lincoln, created by the artist Victor David Brenner, while the reverse showcases two stalks of wheat, representing prosperity and the agricultural roots of the nation. In 1959, the design was updated to feature the Lincoln Memorial in place of the wheat stalks, but the original design remains a beloved classic.
While most Lincoln Wheat Pennies are relatively common and worth just a few cents today, certain versions have become prized among coin collectors, with some even reaching astonishing prices.
The Rarity of the 1943 Bronze Penny
The 1943 Lincoln Wheat Penny is one of the most famous rare coins, primarily because of an unusual production error. During World War II, the demand for copper was so high that the U.S. Mint switched from producing pennies with copper to using zinc-coated steel instead.
However, a small number of 1943 pennies were accidentally struck on leftover bronze planchets the metal discs used for coins in 1942 resulting in these rare “1943 bronze pennies.”
These coins are extremely valuable due to their scarcity. Only a handful of these bronze pennies were ever minted, and even fewer have been discovered. Experts believe that fewer than 20 authentic 1943 bronze pennies still exist, making them incredibly sought after by collectors.
How Much is the 1943 Bronze Penny Worth?
The value of a 1943 bronze Lincoln Wheat Penny can soar to as much as $900,000, depending on its condition. In 2019, one of these pennies, in nearly perfect condition, was sold at auction for $840,000, setting a new record for the highest price ever paid for a single penny.
Several factors contribute to the immense value of this coin:
- Rarity: Only a tiny number of 1943 bronze pennies are known to exist, making them exceptionally rare and highly desirable.
- Condition: As with any collectible, the better the condition, the higher the value. Coins with little wear or visible damage can fetch significantly higher prices.
- Authentication: Professional grading and certification from reputable organizations like the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) can greatly enhance a coin’s worth by assuring potential buyers of its authenticity and quality.
How to Spot a 1943 Bronze Penny?
Identifying a 1943 bronze penny can be a challenge, but it’s certainly worth the effort if you think you’ve found one. Here are some tips to help you out:
- Use a Magnet: The easiest way to distinguish a steel penny from a bronze one is with a magnet. Steel pennies from 1943 will stick to a magnet, while bronze pennies will not.
- Check the Color: Bronze pennies have a reddish-brown tint, while steel pennies from the same year have a dull, silvery look.
- Look for a Mint Mark: A mint mark (either “D” for Denver or “S” for San Francisco) can be found below the year on some 1943 pennies, and the presence of a mint mark on a bronze penny adds to its rarity.
If you suspect you’ve found a 1943 bronze penny, it’s a good idea to have it authenticated by a trusted expert or professional grading service to confirm its value.
Are Rare Pennies Still in Circulation?
It’s surprising, but true rare coins like the 1943 bronze penny could still be in circulation. Many people unknowingly use them as regular currency, or they might have stashed away in old jars or drawers without realizing their worth. It’s worth checking your change, as even the most ordinary-seeming coin might turn out to be a hidden gem.
In addition to the famous 1943 bronze penny, there are other Lincoln Wheat Pennies that are highly collectible, including:
- 1909-S VDB Penny: With a mintage of just 484,000, this penny is among the rarest and most valuable of all.
- 1914-D Penny: A low mintage of 1.2 million makes this penny highly desirable.
- 1922 No D Penny: This coin is missing the “D” mint mark, an error that makes it significantly rarer than other pennies from the same year.
Storing and Protecting Your Valuable Coins
If you find a potentially valuable penny, it’s important to store it properly to protect its condition and value. Here are some tips for preserving your coins:
- Use Protective Cases: Store your rare coins in acid-free holders or airtight cases to prevent damage from exposure to air or moisture.
- Don’t Clean Them: While it may be tempting to clean your coin, doing so can reduce its value. In fact, cleaning a coin is one of the worst things you can do if you’re a collector.
- Keep Them Safe: Store valuable coins in a secure location, such as a safe or a safety deposit box, to protect them from theft or damage.
The Joy of Coin Collecting
Coin collecting is a fascinating and rewarding hobby. It’s a way to connect with history, appreciate art, and experience the thrill of discovery. The Lincoln Wheat Penny, with its rich history and potential for significant value, remains a favorite among enthusiasts. Many collectors start by collecting more common coins and eventually seek out rarer, more valuable pieces to add to their collections.
In Conclusion: The Lincoln Wheat Penny
The Lincoln Wheat Penny, especially the rare 1943 bronze variant, continues to captivate collectors and history buffs alike. With its potential value reaching nearly $1 million, this unassuming coin proves that even the most ordinary pieces of currency can have an extraordinary story.
So, before you pass off that old jar of pennies, take a second look there may be a piece of history in your pocket worth far more than you think.
