Sometimes, the most valuable treasures are hiding in plain sight. One such example is the rare Lincoln Wheat Penny, which is surprisingly still found in everyday change. What makes this coin so special is that it’s valued at a staggering $22 million. Yes, you read that right — a simple-looking penny that could be in your pocket right now might just be worth millions.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the “Wheat Cent,” was first minted in 1909. It was created to honour the 100th birthday of President Abraham Lincoln and became the first U.S. coin to feature a real person. The design on the reverse side includes two wheat stalks, which is how the coin got its nickname. This design was used from 1909 until 1958, after which it was replaced by the Lincoln Memorial design.
Why Is It So Valuable?
While many Lincoln Wheat Pennies are only worth a few cents to collectors, a few rare versions are worth a fortune. One particular Lincoln Wheat Penny, minted under very unique conditions, has become one of the most expensive coins in the world. Experts believe this coin was accidentally made using a different type of metal — bronze instead of steel — during World War II in 1943, when copper was in short supply.
The mix-up resulted in a rare version of the penny that is now valued at $22 million due to its extreme rarity and the story behind its creation. Only a small number of these pennies were ever made, and fewer than 20 are believed to exist today.
How to Identify the $22 Million Lincoln Wheat Penny
Spotting this rare coin isn’t too difficult if you know what to look for. The most famous version is the 1943 bronze Lincoln Wheat Penny. During that year, the U.S. Mint produced most pennies using steel coated with zinc to save copper for the war effort. However, a few bronze planchets (coin blanks) were accidentally used, creating this incredibly valuable mistake.
To check if your penny is one of them, look at the date and color. A 1943 penny that looks copper-colored instead of silver or gray might be worth getting inspected. You can use a magnet to test it — the steel pennies will stick to it, but the rare bronze ones will not.
Is It Really Still in Circulation?
Yes, some of these rare pennies may still be out there, hiding in coin jars, old drawers, or even in your change from a shop. Because many people don’t realize how valuable these coins are, they might pass them on without a second thought. Coin collectors and treasure hunters always keep an eye out for this reason.
Even though it’s unlikely, finding a 1943 bronze Lincoln Wheat Penny in circulation is still possible. Stories have surfaced of people discovering rare coins in everyday transactions, which keeps the excitement alive for many enthusiasts.
What to Do If You Think You Found One
If you believe you’ve found a 1943 bronze Wheat Penny, don’t spend it! First, test it with a magnet. If it doesn’t stick, you might be onto something. Next, consult with a professional coin dealer or get the coin certified by a grading service like PCGS or NGC. Having it professionally examined will confirm its authenticity and value.
The Lincoln Wheat Penny is more than just a piece of change — it’s a small piece of history that could change your life. While millions of these pennies were made, only a few rare ones have reached legendary status due to unique circumstances during minting. If you ever come across an old penny, don’t ignore it. That tiny coin could be the $22 million jackpot you never expected.
FAQs
What is a Lincoln Wheat Penny?
A Lincoln Wheat Penny is a one-cent coin first minted in 1909 featuring President Abraham Lincoln on the front and two wheat stalks on the back. It was in circulation until 1958.
Why is the 1943 Lincoln Wheat Penny so valuable?
The 1943 Lincoln Wheat Penny is valuable because a few were mistakenly made using bronze instead of steel during World War II. These rare versions are now worth millions.
How can I tell if my 1943 penny is rare?
Check the color and use a magnet. If your 1943 penny is copper-colored and does not stick to a magnet, it could be the rare bronze version worth a lot of money.
Are rare Lincoln Wheat Pennies still in circulation?
Yes, although rare, some Lincoln Wheat Pennies, including the 1943 bronze ones, may still be found in circulation or in old coin jars at home.
What should I do if I find a rare penny?
If you suspect your penny is rare, don’t spend it. Get it checked by a professional coin dealer or submit it to a coin grading service for verification.