Have you ever thought that the 1 cent (US coin) in your pocket could be worth lakhs? It may sound strange, but it is true. America’s Lincoln Wheat Penny, which was once commonly used, has become so rare today that its price has reached $815,000 (about $6.7 Million ).
This article will tell you why this coin is so valuable, how to identify it, and whether you can also have such a rare coin.
Lincoln Wheat Penny: History and Importance
Seeing the need to be celebrated on the 100th anniversary of the birth of the USA president Abraham Lincoln, the Lincoln Wheat Penny was first published in 1909.
What were its features?
- Obverse: Image of Lincoln
- Reverse: Two ears of wheat (hence the name “Wheat Penny”)
- Metal: 95% Copper
- Issued Period: 1909 to 1958
This design was discontinued and the Lincoln Memorial design was introduced after 1959. However popularity and historic value of this antique design have rendered it as a priceless piece among collectors.
So which Lincoln Wheat Penny is worth $815,000?
Not all Wheat Pennies are this expensive. 815,000 dollars penny-coin is special one, and it is called so called 1943 Copper Lincoln Penny.
What happened in 1943?
In 1943, in the US, the shortage of copper as a consequence of the World War II was colossal. Thus all the pennies made by the US Mint in the given year were now made of steel.
But by mistake some coins were made on the copper planchet and went out of the mint. This mistake is making these coins worth crores today.
To date only less than 20 such coins have been found. One such coin was sold in 2010 for $1.7 million (about $14 Million).
How to identify that you have a rare Copper Penny of 1943?
It is not easy to identify, but not impossible either. You can identify such a coin with the symptoms given below:
| Identification Point | Description |
|---|---|
| Year | The coin must have 1943 stamped on it. |
| Metal | It should be made of copper, not steel. |
| Color | Should have a reddish-brown color typical of copper. |
| Weight | Weighs about 3.11 grams (the normal weight of a copper penny). |
| Condition | If the coin is in mint condition, its value could be much higher. |
If you find any such coin, immediately get it verified by a certified coin expert (Professional Coin Grader).
Why are Error Coins so valuable?
Error Coins are special because:
- They are extremely rare
- They have a story – like copper being used instead of steel during wartime
- Collectors are willing to pay a high price for such things
- Their price depends on:
- The condition of the coin (Mint Condition)
- Authentication
- Rarity
Can you also have such a coin?
It is unlikely that you will find such a coin in India, but not impossible. Sometimes such coins are found in international transactions or in collections of old foreign currencies.
If you:
- Have gone on a foreign trip
- Are fond of collecting
- Or your relatives live in America, and you have old coins
- … then definitely check whether you have a 1943 Copper Lincoln Wheat Penny.
What to do if you have such a coin?
Check it out: Send it to a coin grading service, PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) to get it graded.
- Selling options: You can sell such a coin:
- At International Auction Houses
- On websites like eBay
- Through Rare Coin Dealers
- But keep in mind that selling without certification can reduce your price drastically.
Conclusion
The Lincoln Wheat Penny is not an ordinary coin – it is a glimpse of American history and World War II. The 1943 Copper Penny is a living example of the fact that sometimes the things made by mistake are the most valuable. If you ever see such a coin, do not ignore it. It can change your fate.
FAQs
Q1. Why is the Lincoln Wheat Penny worth $815,000?
A: The $815,000 value applies to a rare 1943 Lincoln Wheat Penny made of copper instead of steel. This coin is a minting error from World War II when copper was reserved for the war effort. Only a few such coins exist, making them extremely valuable.
Q2. How do I know if my 1943 penny is made of copper and not steel?
A: A 1943 copper penny will have a reddish-brown color and weigh about 3.11 grams. You can also use a magnet—steel pennies stick to it, copper ones don’t. For accurate verification, consult a professional coin grader.
Q3. How many 1943 copper pennies exist?
A: It’s estimated that fewer than 20 genuine 1943 copper pennies are known to exist, which is why they fetch such high prices at auctions.
Q4. Where can I sell a rare Lincoln Wheat Penny?
A: You can sell it through certified coin dealers, at major numismatic auctions, or via reputable online platforms like Heritage Auctions or eBay. Always get the coin authenticated first to ensure maximum value.
Q5. Are all 1943 pennies valuable?
A: No. Most 1943 pennies were made of steel and are only worth a few cents to a few dollars depending on condition. Only the rare copper version from 1943 has high value.
