Could your spare change hold a hidden fortune? While it may sound unbelievable, a Lincoln Wheat Penny found in circulation could be worth thousands—or even millions—of dollars.
Though the claim of a penny worth $500 million is more myth than fact, there are indeed several Lincoln Wheat Pennies that have fetched incredible prices, making them some of the most sought-after coins in the world.
If you’ve got a jar full of old pennies lying around, now is the time to take a closer look.
What Is a Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the Wheat Cent, was minted from 1909 to 1958. It features President Abraham Lincoln on the obverse and two wheat stalks on the reverse.
These pennies were the first U.S. coins to feature a real person and are still easily found in pocket change, estate sales, or old collections.
While most are worth face value or just a few cents more, certain rare varieties are incredibly valuable due to low mintage numbers, errors, or unique features.
The Most Valuable Lincoln Wheat Pennies
While no Lincoln penny has sold for $500 million, here are the top 5 rare and valuable Wheat Pennies that could still be found in circulation or personal collections:
| Year & Mint | Rarity Type | Approximate Value Range |
|---|---|---|
| 1909-S VDB | Low Mintage, First Design | $700 – $2,200+ |
| 1914-D | Rare Minted Date | $200 – $5,500+ |
| 1922 No D | Mint Mark Error | $450 – $2,000+ |
| 1943 Bronze | Minting Error (Wrong Metal) | $100,000 – $2.3 million |
| 1955 Doubled Die | Design Error | $1,000 – $100,000+ |
What Makes a Penny Worth Thousands?
Here are the main factors that drive up the value of Lincoln Wheat Pennies:
1. Minting Errors
Errors like the 1943 Bronze Penny or 1955 Doubled Die are extremely rare and command sky-high prices. These happen when the coin is struck incorrectly—sometimes on the wrong metal or with doubled designs.
2. Low Mintage Numbers
Coins like the 1909-S VDB had fewer than 500,000 produced, making them extremely rare and valuable even in average condition.
3. Uncirculated Condition
Coins that were never circulated (i.e., untouched by public hands) can be worth significantly more—especially when graded MS65 or higher by professional coin grading services.
4. Missing or Altered Mint Marks
The 1922 No D Penny is famous because the Denver Mint accidentally struck coins without the “D” mint mark. These rare errors can make even a common-looking penny worth thousands.
How to Check Your Wheat Pennies
Think you have a valuable penny? Follow these steps:
- Check the date and mint mark: Look below the year. Rare ones include 1909-S VDB, 1914-D, 1922 No D, and 1943 Bronze.
- Use a magnet: Real 1943 Bronze pennies will not stick to a magnet (they should be steel). If yours doesn’t stick and says 1943, it might be worth a fortune.
- Look closely for doubling: In 1955 pennies, clear doubling on the words “IN GOD WE TRUST” and the date is a major error.
- Examine the coin’s condition: Less wear, more shine, and stronger details mean higher value.
- Weigh it: An average copper penny weighs 3.11 grams, while steel pennies are lighter (about 2.7 grams). If the weight doesn’t match the year, it could be an error coin.
Can These Be Found in Circulation?
Yes! That’s what makes the Lincoln Wheat Penny so exciting. Many have been passed down in jars, coin rolls, or piggy banks. Even though it’s been decades since they were produced, Wheat Pennies still appear in circulation and are often overlooked.
While the story of a $500 million Lincoln Wheat Penny may be more fantasy than fact, there are still Wheat Pennies worth tens of thousands—and in some cases, over $1 million. Rare dates, minting errors, and uncirculated conditions are what set these coins apart.
The next time you sort through your change or stumble across a forgotten coin collection, take the time to check each Lincoln Wheat Penny. You never know—you could be holding a coin that changes your life.
FAQs
How do I know if my 1943 penny is bronze or steel?
Use a magnet. If it sticks, it’s steel and common. If it doesn’t stick and it’s a 1943 penny, you could have a rare bronze version worth thousands.
Where can I get my penny appraised?
You can take your coin to a local coin shop, attend a coin show, or submit it to a professional grading service for a detailed evaluation.
Can I find valuable Wheat Pennies in circulation today?
Yes, especially from coin rolls or old family collections. While rare, high-value Wheat Pennies are still being discovered across the U.S.