Coins are something we use every day without giving them much thought. But what if one of the coins in your pocket turned out to be worth a fortune? That’s exactly what’s happening with a rare version of the Lincoln Wheat Penny, which is believed to be valued at around $11 million. What makes this even more exciting is that it might still be out there in circulation. Yes, you could be holding a small treasure without even knowing it!
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny is a one-cent coin that was first introduced in 1909 to honour the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person, replacing the previous design of Lady Liberty. On the back, it has two wheat stalks, which is why it is called the “Wheat Penny.” These coins were made until 1958, after which the design changed to feature the Lincoln Memorial.
These coins were made from copper, but during wartime, especially in 1943, some coins were made with steel due to copper shortages. That change in material created some very rare and valuable versions.
Why is This Penny Worth $11 Million?
Most Lincoln Wheat Pennies are only worth a few rupees over their original value, but a few versions are extremely rare. One of the rarest is the 1943 bronze Lincoln Wheat Penny. In 1943, the U.S. Mint was supposed to produce pennies using steel because copper was needed for World War II. However, by mistake, a small number of bronze pennies were still made.
Only a handful of these bronze 1943 Wheat Pennies are known to exist. Because of their rarity and the mistake in production, collectors value them extremely highly. One of these rare coins reportedly sold for over $1 million, and experts believe that the value has now reached $11 million due to increasing interest and demand from collectors.
Is This Penny Still in Circulation?
Yes, that’s the exciting part. Even though it’s incredibly rare, some of these valuable coins might still be in people’s wallets, coin jars, or old piggy banks. Many people have no idea that a simple-looking penny could be worth millions.
Because it looks almost like any other penny, it’s easy to overlook. But if you happen to come across a 1943 Lincoln Wheat Penny that looks like it’s made from copper or bronze instead of steel (which looks more silver in colour), you might be holding a treasure.
How Can You Identify a Rare Wheat Penny?
To know if you have a valuable penny, first check the year on the coin. If it says 1943, and it has the wheat design on the back, look closely at its colour. Steel pennies will look silver and may stick to a magnet. The rare bronze version will look more like regular brownish copper coins and won’t stick to a magnet.
If you find a 1943 penny that looks bronze and doesn’t stick to a magnet, don’t spend it. Get it checked by a professional coin expert or dealer. It could be worth far more than just one cent.
The story of the Lincoln Wheat Penny is a reminder that sometimes, the most ordinary things can hide incredible value. A small one-cent coin that most people wouldn’t look twice at could actually be worth $11 million. With some of these rare coins possibly still in circulation, it’s worth checking your change or that old jar of coins lying around at home. Who knows? You could be sitting on a life-changing discovery without even realising it.
FAQs
Why is the 1943 Lincoln Wheat Penny worth $11 million?
The 1943 Lincoln Wheat Penny is worth so much because it was mistakenly made with bronze instead of steel during World War II. Only a few of these rare coins were produced, making them extremely valuable to collectors.
How can I check if I have the rare 1943 penny?
Look at the year on the penny. If it says 1943 and has a brownish copper colour, test it with a magnet. If it doesn’t stick, it might be the rare bronze version and worth a lot.
Is the $11 million Lincoln Wheat Penny still in circulation?
Yes, some rare coins like the 1943 bronze penny are believed to still be in circulation or hidden in collections and coin jars. That’s why it’s worth checking your change.
What should I do if I think I found a valuable penny?
Keep it safe and don’t spend it. Get it verified by a professional coin appraiser or dealer who can confirm its authenticity and value.
Are all 1943 Lincoln pennies valuable?
No, only the ones made from bronze are extremely valuable. Most 1943 pennies were made from steel and are only worth a small amount.