Have you ever wondered how a tiny copper coin — that may have once been in your grandparents’ pocket — could sell for $990,000 today? It sounds like a farce, but recently this claim created a stir on the internet. A 1920 Lincoln Wheat Penny was listed online and priced at around $990,000. The news spread rapidly in the coin collector world and only one question arose in everyone’s mind — is this price justified or a big scam?
In this article, we will examine this viral listing in depth. We will know what the historical significance of the Lincoln Wheat Penny is, how rare this coin is, whether it is really influenced by stories like Theodore Roosevelt or the Panama Canal, and finally, we will also understand what signs to be wary of when buying a coin.
Lincoln Wheat Penny: A History That Makes It Special
The Lincoln Wheat Penny was introduced in 1909 and was minted to commemorate the 100th birthday of US President Abraham Lincoln. It was the first US coin to feature a real person’s face. Its designer was Victor D. Brenner, whose artistic vision gave this coin a special identity.
The coin has Lincoln’s profile on one side and two ears of wheat on the other — considered a symbol of prosperity and progress. The design is a blend of American history, politics, and agricultural culture, making it not just a coin but an heirloom.
While most Lincoln Wheat Pennies sell for between $1 and $50, some rare mint errors or coins in extremely good condition can cost anywhere from $1,000 to $10,000. But $990,000? Anyone would be shocked to hear this.
$990,000 1920 Lincoln Penny: What is the root of the controversy?
When the 1920 Lincoln Wheat Penny was listed at a price of $990,000, people were more skeptical than surprised. According to reports, it was claimed that this coin is related to President Theodore Roosevelt and the Panama Canal. But so far no concrete evidence of any such historical authenticity has come to light.
The real problem is that there is no record to prove that a 1920 Lincoln Penny has ever been a part of any particular historical event. Also, this coin has not been certified by any authorized institution like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation). In such a situation, its high value becomes a huge red flag.
How to identify fraud in rare coins: 4 big warnings
If you are fond of coin collection or are just starting out, you must keep these 4 things in mind so that you can avoid any big loss:
1. Unusually high price
Often a 1920 Lincoln penny sells between $20 and $40, especially if it is in normal condition. If it has a mint error or is extremely rare, the price can still go up to $10,000. A price like $990,000 can only be justified if the coin is exceptionally rare, historically important and certified — which is not the case here.
2. No certificate
If a seller is selling any coin above $1000 without a certificate, then understand that alarm bells are ringing. Any reliable coin should be graded and certified by PCGS or NGC.
3. Stories that are far from reality
Sometimes sellers add interesting stories to the coin to increase its value — like it was in Roosevelt’s pocket or was carried across the Panama Canal. If there is no authentic source or documentation of such things, do not trust them.
4. Buying from the wrong place
Be cautious while buying coins on common platforms like eBay or Facebook Marketplace. Coins without certification and guarantee can often be part of fraud. Always buy from a certified dealer or a reputable auction house.
What are the reasons behind the popularity of the Lincoln Wheat Penny?
There are many reasons for the popularity of this coin, some of which are historical and some are emotional:
- Connection to American history: Abraham Lincoln’s face was depicted on a coin for the first time, which increased its historical value.
- Artistic design: Victor D. Brenner’s design is still considered unique, and this coin gives a glimpse of old-time American life.
- For every category: this coin is attractive to both beginner and experienced collectors. It is also available at affordable prices, making it a challenge to find rare editions.
How to buy coins safely?
If you want to collect coins, keep these things in mind:
- ✅ Study—Understand the history, design, and mint location of the coin.
- ✅ Buy only certified coins—coins graded by PCGS or NGC are more secure and reliable.
- ✅ Read the description carefully—look carefully at the pictures, description, and condition of the coin.
- ✅ Choose a reliable platform—avoid eBay or unknown websites, and buy from reputable auction houses or official dealers.
Conclusion: Is the $990,000 Lincoln Wheat Penny real?
As much noise is being made about this coin, there is also a lot of doubt. The price of $990,000 is certainly attractive, but there is no official evidence to back it up — neither is the coin certified, nor is it There is no confirmation of the historical story. In such a case, it is more likely that this listing is a hoax or an exaggeration.
If you are considering buying a rare coin, the most important thing is to be cautious, look at the evidence, and not make decisions based on emotion. Coin collecting is a wonderful and informative hobby — but it is only worthwhile if you can tell the difference between truth and lies.
FAQs
Q. Is the $990,000 Lincoln Wheat Penny real?
A. While the coin exists, there’s no verified proof or certification justifying that extreme price tag.
Q. What makes Lincoln Wheat Pennies valuable?
A. They become valuable due to rare mint errors, low mintage years, or being in uncirculated condition.
Q. How can I verify if a coin is authentic?
A. Buy only coins certified by professional grading services like PCGS or NGC.
Q. Can a 1920 Lincoln Penny really be worth $990,000?
A. Highly unlikely—most 1920 pennies are worth around $20 to $50 unless extremely rare.
Q. Where should I buy rare coins safely?
A. Use trusted auction houses or certified dealers; avoid suspicious listings on unknown websites.
