Among the most iconic coins in American history, the Lincoln Wheat Penny continues to fascinate collectors and coin enthusiasts alike. First minted in 1909 and circulated until 1958, the coin is still widely recognized today. While most of these pennies are common and modestly valued, a few extremely rare versions—like the 1943 bronze penny—can command auction prices as high as $200,000 or more.
In this article, we explore the origins of the Lincoln Wheat Penny, the rare varieties that have sold for hundreds of thousands of dollars, and whether these valuable coins could still be in everyday circulation.
Table of Contents
Quick Summary – Lincoln Wheat Penny Highlights
| Feature | Details |
|---|---|
| Minting Years | 1909 to 1958 |
| Designer | Victor David Brenner |
| Most Valuable Type | 1943 Bronze Wheat Penny |
| Auction Record Price | Up to $849,000 |
| How to Identify | Check year, use a magnet, look at mint mark |
| Still in Circulation? | Rare, but possible |
| Official Coin Info | www.usmint.gov |
What Is the Lincoln Wheat Penny?
Introduced in 1909, the Lincoln Wheat Penny commemorated the 100th birth anniversary of President Abraham Lincoln. It was the first regular U.S. coin to feature an actual person—a significant departure from earlier designs.
The obverse (front) showcases a portrait of Lincoln, while the reverse features two stalks of wheat bordering the words “ONE CENT,” symbolizing national prosperity. Designed by sculptor Victor David Brenner, this coin remained in production for nearly 50 years until the design was replaced by the Lincoln Memorial version in 1959.
Despite being over six decades out of production, these coins are still found in old jars, coin collections, and—on rare occasions—even in loose change.
The Rarity That Could Be Worth $200,000
The reason behind the Lincoln Wheat Penny’s fame lies in a few exceptional varieties—particularly the 1943 bronze penny. During World War II, copper was in high demand for ammunition and military equipment, so the U.S. Mint began producing pennies from zinc-coated steel to conserve copper for the war effort.
However, by accident, a few bronze planchets (coin blanks made of copper and tin) were left in the minting machines. These were mistakenly struck with the 1943 design and released into circulation.
Today, these bronze 1943 Lincoln Wheat Pennies are among the rarest and most sought-after coins in the United States. Depending on condition and mint mark, one can fetch between $150,000 to $250,000, with a record sale approaching $199,000.
How to Tell If You Have a Rare Wheat Penny
Think you might have one of these valuable pennies? Here’s how you can check:
1. Look at the Year
Start by looking for 1943 on the coin. While millions of 1943 steel cents were produced, it’s the bronze version that’s rare.
2. Use a Magnet
Steel pennies will stick to a magnet, while bronze ones will not. This is one of the easiest at-home tests to spot a potential treasure.
3. Check the Mint Mark
Under the date, check for a small letter:
- “D” = Denver
- “S” = San Francisco
These mint marks can further increase the coin’s value.
4. Evaluate the Condition
The coin’s condition—graded by experts from “Good” to “Mint State”—plays a huge role in its value. Coins that are clean, detailed, and undamaged will sell for much higher prices.
If you believe you may have a rare coin, it’s best to have it authenticated by a professional coin grading service like PCGS or NGC.
Why Some Are Still in Circulation
You might assume all valuable coins have been discovered and locked away, but that’s not always the case. Many people overlook or discard old pennies without realizing their potential value.
Some of these rare coins could still be sitting in:
- Change jars
- Grandpa’s drawer
- Coin rolls from the bank
- Garage sales
The reality is that a few 1943 bronze pennies may still be out there, waiting to be found by a sharp-eyed individual. That’s why collectors regularly check their pocket change and search coin rolls for rare finds.
Auction Records and Public Sales
Rare Lincoln Wheat Pennies have shocked the numismatic world with their high auction values. One bronze 1943-D penny sold at auction for $840,000, while another fetched $204,000.
These sales usually occur at major numismatic auctions like:
- Heritage Auctions
- Stack’s Bowers Galleries
- GreatCollections
The coins must be authenticated and graded before they’re accepted at these elite sales. A verified 1943 bronze cent can attract bidding wars from collectors across the globe.
What Makes These Coins So Valuable?
The value of a coin like the 1943 bronze penny comes from three key factors:
- Historical Significance
Born from a wartime error, these coins symbolize a fascinating period in U.S. history. - Extremely Low Mintage
Only a few dozen are confirmed to exist today. - Collector Demand
Numismatists love rarity, and the 1943 bronze penny is one of the most famous error coins ever produced.
Other Valuable Lincoln Wheat Pennies
While the 1943 bronze penny is the most famous, other rare types include:
- 1909-S VDB – The first-year coin with designer Brenner’s initials on the reverse. Only 484,000 were minted.
- 1914-D – A key date coin minted in Denver, highly sought after.
- 1922 No D – A rare minting error from Denver with no visible mint mark.
These too can bring in hundreds or even thousands of dollars depending on condition.
How to Safely Store and Sell Rare Coins
If you find or inherit old coins, don’t clean them—they could lose value. Instead:
- Store them in acid-free coin holders or albums.
- Get rare coins appraised by professionals.
- Consider certification from NGC or PCGS.
- If selling, use reputable auction houses or dealers.
Final Thoughts
The Lincoln Wheat Penny represents more than just currency—it’s a piece of American heritage. While most are worth just a cent, rare versions like the 1943 bronze penny can sell for small fortunes. Even decades later, these coins continue to capture the imagination of collectors and everyday Americans alike.
The dream of finding a $200,000 penny in your change is far-fetched—but not impossible. So next time you get a handful of coins, take a moment to check. You might just be holding history.
FAQs
Q1: What is a Lincoln Wheat Penny?
A = It’s a U.S. one-cent coin minted from 1909 to 1958 featuring President Lincoln and wheat stalks on the reverse.
Q2: Why is the 1943 Wheat Penny worth so much?
A = A few were mistakenly minted in bronze during WWII, making them extremely rare and valuable.
Q3: How can I tell if my 1943 penny is bronze?
A = Use a magnet—if it doesn’t stick, it might be bronze. Also check the coin’s weight and mint mark.
Q4: Are rare Lincoln Pennies still found in circulation?
A = Yes, though rare, some have been discovered in jars, old rolls, or pocket change.
