The Lincoln Wheat Penny holds a special place in American numismatic history. First minted in 1909 to commemorate the 100th anniversary of President Abraham Lincoln’s birth, it was the first U.S. coin to feature a real person. Designed with Lincoln’s profile on the obverse and two stylized wheat stalks on the reverse, the coin symbolized both national leadership and agricultural prosperity.
Produced in large quantities for everyday use, most Lincoln Wheat Pennies aren’t rare. However, certain variations—especially those minted in error—have become legendary in the world of coin collecting.
The Crown Jewel: The 1943 Bronze Lincoln Wheat Penny
The most talked-about rarity is the 1943 bronze Lincoln Wheat Penny. In that year, the U.S. Mint switched from bronze to zinc-coated steel for penny production, in order to conserve copper for World War II efforts. However, a few bronze blanks left over from 1942 were accidentally used, resulting in an extremely rare batch of 1943 bronze pennies.
Today, only an estimated 15 to 20 authentic 1943 bronze Lincoln Wheat Pennies are known to exist. Their rarity, historic origin, and accidental creation make them among the most sought-after coins in the world.
In 2010, one of these pennies sold for \$1.7 million. With increased demand and inflation, experts now estimate their value at up to \$10 million—making it possibly the most valuable penny on Earth.
How to Identify a Rare 1943 Lincoln Wheat Penny
You don’t need to be a professional collector to check your coins. Here’s how to spot the legendary 1943 bronze penny:
- Check the Date: Look for the year “1943” on the coin.
- Examine the Color: Standard 1943 pennies are silver-gray (steel), while rare ones are coppery brown (bronze).
- Use a Magnet: Steel pennies stick to magnets, bronze pennies do not.
- Look for Mint Marks: Below the date, check for “D” (Denver) or “S” (San Francisco)—certain mints can add to the value.
- Inspect With a Magnifier: Look for doubling, off-center strikes, or unusual details that may indicate a rare minting error.
If you find a penny that fits these clues, don’t clean it—it could decrease its value. Instead, take it to a reputable coin dealer or grading service like PCGS or NGC.
Real-Life Discoveries: From Pocket Change to Six Figures
One of the most famous examples is Don Lutes Jr., a Massachusetts teenager who discovered a 1943 bronze penny in his school cafeteria. He kept it for decades before it was officially verified and later sold for over \$200,000.
In another case, a casual collector found a rare Lincoln Wheat Penny in an old coin jar inherited from a relative. That penny later sold at auction for six figures.
Stories like these fuel the excitement among collectors and hobbyists alike—and show that rare coins can surface in the most unexpected places.
Where to Search for Rare Pennies
Rare coins can be found in everyday places—often overlooked or mistaken for common change. Popular search spots include:
- Coffee shop change trays
- Parking meters and vending machines
- Flea markets and garage sales
- Coin-operated laundromats
- Old family piggy banks or savings jars
Keep an eye out and never dismiss older coins as worthless—one could be your golden ticket.
Tips for Beginner Coin Hunters
If you’re ready to dive into the world of coin hunting, here are a few essential tips:
- Stay Alert: Always check your change—especially older coins.
- Invest in Tools: A good magnifying glass and basic coin guidebook go a long way.
- Join Communities: Online coin collecting forums and local clubs offer advice and insight.
- Attend Coin Shows: Learn from seasoned collectors and get opinions on your finds.
- Store Properly: Use acid-free holders and avoid direct handling to preserve coin condition.
Even a slightly worn rare penny can be worth thousands—if properly preserved and certified.
How to Verify and Sell a Rare Lincoln Wheat Penny
If you believe you’ve found a valuable Lincoln Wheat Penny:
- Take High-Resolution Photos: Show both sides clearly.
- Handle With Care: Use gloves or hold it by the edges.
- Seek Professional Grading: Services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can authenticate and grade your coin.
- Choose the Right Selling Channel: For high-value coins, consider auctioning through reputable firms such as Heritage Auctions or Stack’s Bowers.
The value of a coin depends heavily on its grade, condition, and rarity. A mint-grade 1943 bronze penny with proper certification could fetch millions.