The Lincoln Wheat Penny Valued at $168K: In the world of coin collection or numismatics, there are some coins that go beyond people’s imagination. One such coin is the Lincoln Wheat Penny. Usually people use it in everyday shopping or put it in old coin boxes. But recently a Lincoln Wheat Penny caught the attention of the whole world when its price was estimated to be more than Rs 1.4 crore. The most interesting thing is that experts believe that many more such coins may still be lying in the market or in the safes of homes, whose value may be in crores.
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Birth and historical importance of Lincoln Wheat Penny
Lincoln Wheat Penny was first issued in 1909. It was specially made to mark the 100th birth anniversary of Abraham Lincoln, the 16th President of America. This coin was a turning point in the history of American currency because before this, the picture of any president was not printed on the coins of America. Earlier, coins mostly had images of Liberty or other symbols.
This coin was designed by famous artist Victor David Brenner. Lincoln’s profile was made on the front side and two wheat ears were engraved on the back, which symbolized America’s agricultural prosperity. This design continued till 1958. After this, the Lincoln Memorial design came, but even today the initial Wheat Penny has its own identity and demand.
What is the reason that some Wheat Pennies sell for crores?
Not every Lincoln Wheat Penny is worth crores. There are some special reasons that make a coin extremely rare and expensive. The first reason is its rare year or limited number of coins produced in that year. Many times very few coins were made in a particular Mint i.e. coin making center and those coins are considered very valuable today.
The second important reason is Mint Error or Printing Mistake. Sometimes the date or words inscribed on the coin are printed double or the coin is made of wrong metal. Such coins are in great demand in the world of numismatics. Apart from this, the real price of a coin depends on its condition. If the coin is completely safe and like new, then its price increases manifold.
Which Lincoln Wheat Pennies are the most expensive?
There are many Lincoln Wheat Pennies whose auction has reached from lakhs to crores. The 1909-S VDB coin is considered quite rare, because the initials VDB of designer Victor David Brenner were printed on it and only 4.8 lakh coins of this variant were made. The 1914-D coin is also very popular among collectors because a very small number of coins were made at the Denver Mint that year.
The most famous and expensive coins also include the 1955 Doubled Die Penny, in which the entire date and words appear printed twice. But the real shocking coin is the 1943 Copper Lincoln Penny. In 1943, there was a shortage of copper in America, so all the coins of that year were made of steel. But some were accidentally made of copper and those coins have reached the price of crores today. Recently one such coin was auctioned for $1.7 million i.e. about Rs 14 crore.
Can you also have a coin worth crores?
This question comes to the mind of every person who has a collection of old coins. Perhaps there is an old coin lying in your grandmother’s cupboard in your house, whose price you cannot even imagine. In America, many such incidents have come to light where people have found such coins in their grandmother’s savings and became millionaires in no time.
This is not just about America. In India too, people who are fond of old coins have collections of international coins. If you have an American Lincoln Wheat Penny, then you should definitely get it checked. It is possible that your luck may also change.
How to identify which coin you have is valuable?
If you also want to know whether the coin you have can become a treasure of crores or not, then first of all pay attention to its year and Mint Mark. There will be a small letter below the date in front of the coin – D means Denver, S means San Francisco and if there is no letter then it is made by Philadelphia Mint.
The second way is to check its condition. If the coin is in new condition, there is no scratch or wear on it and it is shiny, then its price can increase manifold. Especially if it is a 1943 coin and it is made of copper, then understand that you can become not a lakhpati but a crorepati.
The easiest way to check 1943 coins is the magnet test. A steel coin will stick to a magnet, but if it is made of copper, it will not stick to a magnet. If you find such a coin, get it checked by an expert immediately.
Why is it important to avoid fake coins?
When the price of something reaches crores, it is natural for fake goods to come in the market. Many people make 1943 steel coins look like real ones by coating them with copper. Some even change the date of 1945, 1948 or 1949 coins to 1943. In such a situation, it is important to get any old and expensive coin checked by a reliable agency for authenticity. In America, agencies like PCGS and NGC are considered experts in this work.
Historical importance of Lincoln Wheat Penny
Lincoln Wheat Penny is not just important because of money, but it also tells the story of that period of America when there was a shortage of metals like copper due to the war. During the war, metals were being used to make military weapons, so changes were made in everyday coins as well. This is the reason why copper coins of 1943 were made by mistake and today they are counted among the most valuable coins in history.
This coin is not just a currency but a living proof of history. This is why collectors also call it the “Holy Grail of Pennies”.
FAQs On The Lincoln Wheat Penny Valued at $168K
Q. What is the Lincoln Wheat Penny?
A. The Lincoln Wheat Penny is a U.S. one-cent coin minted between 1909 and 1958, featuring Abraham Lincoln on the front and wheat stalks on the back.
Q. Why are some Wheat Pennies so valuable?
A. They are valuable due to rarity, minting errors, low production numbers, and excellent condition.
Q. Which Wheat Penny is worth up to $168,000?
A. The rare 1943 Copper Lincoln Penny is valued up to $168,000 or more because it was mistakenly made from copper during wartime.
