In the world of numismatics—better known as coin collecting—rare coins are often seen as treasures. The idea that a simple penny could be worth over $2 million may sound unbelievable, but one particular Lincoln Wheat Penny has turned that fantasy into reality. Recently, a 1943 copper Lincoln Wheat Penny was valued at an astonishing $2,695,000—and here’s the kicker: it’s technically still in circulation.
This means that this piece of history could be sitting unnoticed in someone’s penny jar, tucked away in a drawer, or jingling in your spare change. Let’s explore what makes this coin so special and why it continues to capture the imaginations of collectors and treasure hunters alike.
A Brief History of the Lincoln Wheat Penny
First introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny became the first U.S. coin to feature a real person. Designed by Victor David Brenner, it features Lincoln’s profile on the front and two wheat stalks on the reverse—a nod to America’s agricultural roots.
The coin remained in production with this design until 1958, when it was replaced by the Lincoln Memorial design. During its nearly 50-year run, hundreds of millions of Lincoln Wheat Pennies were minted, making most of them quite common—except for a few rare variations.
Why Is One Penny Worth Over $2 Million?
The prized penny that recently sold for $2,695,000 is no ordinary coin—it’s a 1943 Lincoln Wheat Penny struck in copper, not steel.
During World War II, the U.S. Mint switched from copper to zinc-coated steel for penny production to preserve copper for wartime needs. However, a few copper blanks (planchets) accidentally made it through the minting process, creating one of the most coveted error coins in U.S. history.
Only an estimated 15 to 20 of these 1943 copper pennies are known to exist, making them extremely rare and highly valuable—especially when found in pristine condition. The record-breaking penny sold at auction was in exceptional shape, which significantly boosted its value.
Is It Really Still in Circulation?
Technically, yes. Although the odds are slim, the 1943 copper penny is still considered legal tender, and a few may still be lurking in circulation. Because they look very similar to regular pennies, they’re often overlooked. In fact, it’s entirely possible that someone unknowingly spent one, never realizing they gave away a small fortune.
Something Interesting: The Fake That Turned Out to Be Real
One of the most fascinating stories in coin collecting involves a teenager who bought what he thought was a fake 1943 copper penny at a flea market for under $10. Years later, after watching a documentary, he had the coin authenticated—only to learn it was the real deal. That “fake” penny eventually sold for hundreds of thousands of dollars.
This story is a powerful reminder that incredible finds can happen when you least expect them.
What Should You Do If You Think You’ve Found One?
If you believe you’ve found a 1943 copper Lincoln Wheat Penny, don’t rush to spend it. Take the following steps:
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Get It Authenticated
Visit a reputable coin dealer or a professional numismatist to verify if your coin is genuine. Counterfeits are common, so authentication is critical. -
Assess the Condition
The better the condition, the higher the value. Coins with minimal wear and strong detail are the most desirable. -
Seek Expert Guidance
If confirmed as real, contact a major auction house or coin expert for a proper valuation and guidance on selling it.
FAQs: Everything You Need to Know
What is a Lincoln Wheat Penny?
A U.S. one-cent coin minted from 1909 to 1958 featuring Abraham Lincoln on the front and wheat stalks on the back.
Why is the 1943 penny worth over $2 million?
Due to a minting error, a few copper pennies were made in 1943 instead of steel. Their extreme rarity and historical value make them worth a fortune.
Can I still find one in circulation?
Yes, but it’s incredibly rare. Most were removed from circulation long ago, but a few may still exist in coin jars or old collections.
How do I check if I have a 1943 copper penny?
Start by checking the date and color. 1943 pennies made of steel will be silver-colored and magnetic. Copper versions are brownish and non-magnetic.
What’s the most expensive penny ever sold?
The highest-selling Lincoln Wheat Penny—a 1943 copper variety—fetched $2,695,000 at auction due to its rarity and flawless condition.
Can I get rich from my old coins?
Possibly! Coins with minting errors, rare dates, or unusual materials can be worth far more than face value. It’s worth having them checked out.
Final Thoughts: Hidden Fortune in Your Pocket
The 1943 copper Lincoln Wheat Penny is a testament to how the smallest things can hold tremendous value. Whether you’re a lifelong coin collector or someone just cleaning out old drawers, it’s worth taking a closer look at your change. You never know—you might be holding onto a multimillion-dollar piece of history.
Next time you spot a wheat-backed penny, pause before tossing it aside. Your ordinary-looking coin might just be extraordinary.
