A coin worth $4.2 million could be hiding in plain sight—perhaps in a coin jar, desk drawer, or even your wallet. The Lincoln Wheat Penny, a coin minted in the early 20th century and once used for everyday transactions, is now making headlines due to a rare and highly valuable version from 1943. What makes this story even more intriguing? Experts believe this coin may still be in general circulation today.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also called the Wheat Cent, was minted between 1909 and 1958. It was the first U.S. coin to feature a real historical figure, honoring President Abraham Lincoln on the centennial of his birth. Designed by Victor D. Brenner, the obverse features Lincoln’s profile, while the reverse shows two stalks of wheat, giving the coin its popular nickname.
While billions of these coins were produced, certain years and minting errors have made some examples incredibly rare—and in some cases, worth millions.
Why Is One Lincoln Penny Worth $4.2 Million?
The standout among all Wheat Pennies is a 1943 Lincoln Penny made from copper, not the zinc-coated steel that was used during World War II. In an effort to conserve copper for military use, the U.S. Mint shifted to steel for that year’s penny production. But a few copper planchets left over from 1942 were mistakenly used in 1943, creating one of the most sought-after minting errors in history.
These coins are now legendary among collectors, and one particularly well-preserved 1943 copper penny has recently been valued at $4.2 million in a private transaction.
What Makes the 1943 Copper Penny So Valuable?
| Feature | Details |
|---|---|
| Metal Composition | 95% Copper, 5% Tin & Zinc |
| Minting Error | Struck on leftover copper blanks |
| Estimated Number | Fewer than 20 known to exist |
| Top Auction Price | Up to $4.2 million |
| Circulation Status | At least one may still be in circulation |
Its rarity, combined with its historical wartime origin and pristine condition, has made this penny one of the most valuable coins ever produced by the U.S. Mint.
How to Identify the $4.2 Million Penny
If you’re curious whether you’re unknowingly sitting on a goldmine, here’s how to spot the rare 1943 copper Wheat Penny:
Key Identifiers:
- Year: Must read 1943
- Color: Appears reddish-brown or bronze, not silver-colored
- Magnet Test: Copper does not stick to a magnet; steel does
- Weight: A copper penny weighs approx. 3.11 grams, while steel pennies weigh 2.7 grams
- Mint Marks: May include “D” for Denver, “S” for San Francisco, or no mark (Philadelphia)
Quick Home Test: Place the penny near a small magnet. If it doesn’t stick and looks bronze, get it appraised immediately.
The Penny That Keeps Rising in Value
The market for the 1943 copper penny has seen dramatic growth. The most recent high-profile sale in late 2024 saw the coin change hands for $4.2 million.
Notable Auction Timeline:
| Year | Sale Price | Buyer |
|---|---|---|
| 2010 | $1.7 million | Anonymous |
| 2019 | $2.1 million | Private Collector |
| 2024 | $4.2 million | Undisclosed Investment Group |
As interest in rare coins surges, numismatic experts predict that values may continue climbing, especially with so few known examples left.
How Could It Still Be in Circulation?
Though this penny’s rarity is now well-known, a few escaped detection during mint sorting and ended up in public circulation. Over time, they’ve passed unnoticed through thousands of hands, hidden in jars, boxes, or forgotten collections.
In fact, many discoveries have been made by casual coin sorters, not professional collectors. Whether it’s a child raiding an old piggy bank or someone organizing inherited change, it’s entirely possible this coin is still out there, waiting to be found.
What to Do If You Think You’ve Found One
If you come across a 1943 penny that appears bronze and doesn’t stick to a magnet, don’t rush to clean or sell it. Follow these steps:
What You Should Do:
- Don’t clean the coin – Cleaning may damage it and reduce its value.
- Confirm the year and metal – Use a magnet and small scale.
- Contact a certified appraiser – Preferably one registered with the American Numismatic Association (ANA).
- Consider professional grading – Trusted services like PCGS and NGC offer authentication and value certification.
Even if it turns out to be a common steel penny, it could still be worth something depending on condition—so it’s worth checking.
FAQs About the $4.2 Million Lincoln Wheat Penny
Q1. Is the 1943 copper penny the only valuable Wheat Penny?
A: No. While the 1943 copper version is among the most valuable, other rare Wheat Pennies also carry high value. These include the 1909-S VDB, 1914-D, and 1922 No D varieties.
Q2. Are all 1943 Lincoln pennies worth money?
A: No. Most 1943 pennies are made of steel and are worth just a few cents to a couple of dollars, depending on condition. Only the copper variant is worth thousands to millions.
Q3. How many of the 1943 copper pennies exist?
A: Fewer than 20 verified specimens are known to exist today. Some experts believe more could still be undiscovered in circulation.
