Most people overlook pennies—tossing them into jars or leaving them on countertops. But what if one of those tiny coins was actually worth $880,000? That’s the stunning reality behind one version of the Lincoln Wheat Penny, a coin so rare and valuable that it could still be circulating unnoticed today.
In this article, we’ll explore the history, rarity, and identification tips for the Lincoln Wheat Penny—particularly the 1943 copper error version that collectors dream of finding.
A Brief History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909, created to mark the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person, designed by artist Victor D. Brenner. The front of the coin shows Lincoln’s profile, while the reverse features two stylized wheat stalks, representing prosperity and the nation’s agricultural strength.
Minted until 1958, these coins were mass-produced, making most of them relatively common today. But certain error coins and rare editions, particularly from 1943, have turned this everyday coin into a collector’s goldmine.
The $880,000 Error: What Makes the 1943 Penny So Valuable?
During World War II, copper became essential for making ammunition and military equipment. To preserve the supply, the U.S. Mint switched to zinc-coated steel for penny production in 1943. However, a small number of copper planchets from 1942 were accidentally left in the presses, and a few 1943 Lincoln Pennies were struck in copper.
These error coins are incredibly rare. Only a handful are confirmed to exist, making them one of the most valuable coins ever minted in the U.S. In top condition, one such penny has sold at auction for as much as $880,000.
Quick Facts: Lincoln Wheat Penny At a Glance
| Feature | Details |
|---|---|
| Coin Name | Lincoln Wheat Penny |
| Introduced | 1909 |
| Notable Year | 1943 (Copper Error Coin) |
| Normal Material (1943) | Zinc-coated Steel |
| Rare Error Material (1943) | Copper |
| Highest Sale Price | $880,000 |
| Still in Circulation? | Possibly |
| Key Design Feature | Wheat stalks on the reverse |
Could the $880K Penny Still Be Circulating Today?
Believe it or not, yes. Rare coins have been discovered in pocket change, garage sales, old piggy banks, and even school cafeterias. Because the 1943 copper penny looks very similar to the standard version, many people unknowingly spend or discard them, unaware of their incredible value.
If you’ve ever tossed change in a drawer or inherited a coin jar, you could be holding a fortune without realizing it.
How to Spot a Rare 1943 Copper Lincoln Wheat Penny
If you’re now wondering whether you own a piece of history, here are some simple ways to identify the 1943 copper penny:
1. Check the Date
Look for the year “1943” on your penny. This is the year when nearly all pennies were made from steel—not copper.
2. Examine the Color
A standard 1943 penny will appear silver-gray due to its steel content. A copper version will look brown or reddish, like older pennies.
3. Use a Magnet
Steel is magnetic; copper is not. A non-magnetic 1943 penny could be the rare and valuable one.
4. Assess the Condition
A coin in excellent condition (no scratches, dents, or wear) is worth significantly more than a worn version. Condition plays a big role in determining value.
5. Do Not Clean the Coin
Cleaning a coin—no matter how dirty—can destroy its collector value. Leave it as is and store it safely.
Why Collectors Love the Lincoln Wheat Penny
Beyond the rare variants, the Lincoln Wheat Penny is beloved for its design, history, and accessibility. Even common coins from the early 20th century can fetch impressive prices, especially from low-mintage years or those in pristine condition.
This makes the Wheat Penny a popular entry point for beginner collectors while still holding the interest of serious numismatists.
Where to Search for Rare Pennies
People have found valuable Lincoln Wheat Pennies in:
- Spare change at home
- Coin jars inherited from relatives
- Flea markets and estate sales
- Old purses, desks, and junk drawers
- Public coin-operated machines
The next time you’re cleaning or shopping secondhand, it pays to check each penny carefully and patiently.
What to Do If You Find a Potential Rare Penny
If you suspect you’ve found a 1943 copper penny:
- Take clear photos of both sides of the coin.
- Avoid touching the coin’s surface—use gloves or hold it by the edges.
- Have it authenticated by a trusted service like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation).
- Don’t rush to sell—coins in mint condition with proper grading fetch higher prices at reputable auctions such as Heritage Auctions or Stack’s Bowers.