In the world of coin collecting, or numismatics, some coins hold more than just face value—they carry pieces of history and mystery. One such unassuming treasure is the 1943 Lincoln Wheat Penny, a copper coin mistakenly minted during World War II. While it’s technically worth just one cent, this rare error penny was recently valued at a jaw-dropping $2,096,875, and yes—it’s still considered legal tender.
So how did a humble penny come to rival the price of a luxury home? The answer lies in a fascinating wartime mistake, a stroke of numismatic luck, and the enduring legacy of America’s 16th president.
The Lincoln Wheat Penny: A Presidential Tribute Turned Collector’s Gem
The Lincoln Wheat Penny made its debut in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person—a bold design choice by the U.S. Mint at the time. Created by sculptor Victor David Brenner, the coin showcases Lincoln on the front (obverse) and two wheat stalks on the back (reverse), giving rise to its nickname, the “Wheat Penny.”
Minted until 1958, it was eventually replaced by the Lincoln Memorial design in 1959, but its early editions remain highly coveted. Among them, the 1943 copper penny is the rarest—and most valuable—of them all.
The $2 Million Mistake: The 1943 Copper Penny
In 1943, America was in the thick of World War II. To conserve copper for ammunition and other military needs, the U.S. Mint shifted from copper to zinc-coated steel for penny production. However, a few copper planchets (metal blanks used for striking coins) were accidentally left in the machines at the Mint, resulting in an incredibly small batch of copper pennies being produced that year.
Only fewer than 20 genuine 1943 copper pennies are known to exist today. One of these rare coins, in excellent condition, sold at auction for $2,096,875, breaking records and turning heads in the numismatic world.
Still in Circulation?
Yes—and that’s the wild part. The 1943 copper penny is still legal tender, meaning it could technically be used to buy a gumball… although you’d be giving up nearly $2 million. Most of these pennies have been removed from circulation by collectors or eagle-eyed coin dealers, but they occasionally surface in old jars, coin rolls, or estate sales.
So before you spend that old penny, take a closer look—you might be holding history.
What Makes It So Valuable?
Several factors make the 1943 copper Lincoln Wheat Penny incredibly valuable:
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Rarity: With fewer than 20 in existence, its scarcity alone boosts its value.
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Historical Context: Born out of a wartime error, it represents a unique moment in U.S. history.
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Condition: Coins graded in “mint state” or better can fetch the highest prices.
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Authenticity: Verified coins certified by experts like PCGS or NGC have the highest credibility and value.
What to Do If You Think You Found One
If you suspect you’ve stumbled upon one of these elusive treasures, here’s your plan of action:
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Do Not Clean It! Cleaning coins can damage them and drastically reduce their value.
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Check the Date & Metal: A 1943 penny should normally be steel. If it looks coppery, it’s worth investigating.
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Use a Magnet: Steel pennies will stick to a magnet. Copper won’t.
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Get It Authenticated: Take it to a professional numismatist or coin dealer for verification.
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Get a Valuation: If it’s genuine, you may want to have it appraised by a reputable auction house or grading service.
More Rare Wheat Pennies Worth Watching For
The 1943 copper penny may be the holy grail, but other Lincoln Wheat Pennies can also be worth hundreds or thousands:
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1914-D Lincoln Wheat Penny: Valued at over $1,000 in good condition.
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1922 No D Penny: Minted in Denver but missing its mint mark due to a die error.
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1955 Doubled Die Penny: Known for a clear doubling of the date and inscriptions.
The Hidden Treasure in Your Pocket
The story of the 1943 copper Lincoln Wheat Penny is a thrilling reminder that treasures can hide in plain sight. It’s more than a coin—it’s a historical anomaly, a collector’s fantasy, and potentially, your ticket to a windfall.
So the next time you get change at the store, take a moment to flip through your pennies. One of them might be worth a fortune—and you wouldn’t even know it.
FAQs
Q: What is the Lincoln Wheat Penny?
A: A one-cent coin minted from 1909 to 1958 featuring Abraham Lincoln on the front and wheat stalks on the reverse. It was the first U.S. coin to depict a real person.
Q: Why is the 1943 copper penny worth $2,096,875?
A: Due to a wartime error, a few copper pennies were mistakenly minted in 1943 instead of the intended steel. These rare coins are extremely scarce and valuable to collectors.
Q: Is it true that this penny is still in circulation?
A: Yes, though extremely rare, it’s still legal tender and could theoretically still be found in circulation, tucked away in old jars or drawers.
Q: How can I tell if I have one of these rare pennies?
A: Look for a 1943 date and test it with a magnet. If it’s copper and doesn’t stick to a magnet, it’s worth getting it professionally authenticated.
Q: Can other Wheat Pennies be valuable too?
A: Absolutely. Coins like the 1914-D, 1922 No D, and the 1955 doubled die are also highly sought after and can be worth hundreds or thousands of dollars.
