It sounds like something out of a dream: you reach into your pocket, pull out a penny, and realize it could be worth $2.7 million. But this isn’t just wishful thinking—rare Lincoln Wheat Pennies have sold for massive amounts, and some are still out there, hiding in plain sight.
These small coins, often overlooked or tossed into jars, hold stories of American history, minting mishaps, and jaw-dropping collector value. If you’ve ever wondered whether that old penny in your drawer might be something special, now’s the time to find out.
What Are Lincoln Wheat Pennies?
The Lincoln Wheat Penny debuted in 1909 to mark the 100th anniversary of President Abraham Lincoln’s birth. Designed by Victor D. Brenner, it was the first U.S. coin to feature a real historical figure.
- Obverse (front): Lincoln’s profile
- Reverse (back): Two wheat stalks flanking the words “ONE CENT”
These pennies were minted until 1958, when the design changed to the Lincoln Memorial reverse. Millions were produced, but only a few became legendary in the world of coin collecting.
The $2.7 Million Penny: The 1943 Bronze Lincoln Cent
The 1943 Bronze Penny is often considered the holy grail of U.S. coins. During World War II, the Mint replaced copper with steel to save metal for war supplies. However, a few bronze blanks accidentally made it through the presses—creating one of the rarest minting errors in U.S. history.
Only 15 to 20 are known to exist.
One of these rare pennies sold for $2.7 million, making it one of the most valuable coins ever sold. Its mix of extreme rarity and historical context makes it a favorite among collectors and investors.
Why Is It So Valuable?
- Composition Error: Minted in bronze during a year when only steel cents were intended.
- Incredibly Rare: Fewer than two dozen have ever surfaced.
- Historic Significance: Created during wartime production changes.
- Proven Auction Record: Verified sales at major auctions like Heritage and Stack’s Bowers.
Other Valuable Lincoln Wheat Pennies
Even if you don’t stumble upon the elusive 1943 Bronze Penny, there are several other Lincoln Wheat Pennies worth a fortune:
| Year | Type | Estimated Value |
|---|---|---|
| 1909-S VDB | First-Year, Low Mintage | Up to $100,000 |
| 1914-D | Scarce Denver Mint Issue | Up to $100,000 |
| 1955 | Doubled Die Obverse | Up to $50,000 |
| 1922 No D | Missing Mintmark Error | Up to $12,000 |
| 1944 Steel | Steel Planchet Mistake | Up to $100,000 |
Note: Values depend heavily on the coin’s condition.
How to Identify a Rare Lincoln Wheat Penny
Think you might have a valuable penny? Here’s what to do:
✅ Check the Year and Mintmark
Look for key dates like:
- 1909-S VDB
- 1914-D
- 1922 (No D)
- 1943 (Bronze)
- 1944 (Steel)
- 1955 (Doubled Die)
Mintmarks like “S” (San Francisco) and “D” (Denver) appear just below the date.
✅ Test the Metal
If you have a 1943 penny:
- Use a magnet — steel pennies will stick, copper/bronze won’t.
- Check the color — bronze has a reddish-brown hue vs. steel’s silver tone.
✅ Look for Errors
Keep an eye out for:
- Doubled lettering
- Off-center strikes
- Missing details
✅ Check the Condition
The better the condition, the higher the value. Uncirculated coins can sell for 10x or more than worn versions.
Are Rare Pennies Still in Circulation?
Yes, and that’s what makes this so exciting. Many valuable pennies have slipped through the cracks over the decades—literally. Some were unknowingly spent, mixed into coin jars, or tucked away in old family collections.
Coin roll hunters—collectors who search through rolls of pennies from banks—still occasionally find rare coins. So, that pocket change in your kitchen drawer? It just might contain a hidden treasure.
What To Do If You Find a Penny You Think Is Valuable
If you believe you’ve stumbled upon something rare, don’t clean it—cleaning can damage the surface and lower its value significantly. Instead:
- Handle Carefully – Hold the coin by its edges.
- Research the Coin – Compare it to images and descriptions from trusted coin sources.
- Get It Graded – Submit the coin to a service like PCGS or NGC for professional authentication and grading.
- Explore Your Options – Consider selling through reputable auction houses, coin dealers, or platforms like Stack’s Bowers or Heritage Auctions.
Why Lincoln Wheat Pennies Are Collector Favorites
Lincoln Wheat Pennies aren’t just valuable—they’re a piece of American history. From wartime shortages to controversial design changes, these coins tell stories that go beyond their face value. Whether you’re a serious numismatist or just curious, there’s something thrilling about the idea that a coin worth millions might be sitting in your spare change.
Final Thoughts: Check Your Change—You Could Be Holding History
The idea of finding a $2.7 million penny might sound far-fetched—but it’s real. And while a $300 million penny remains a rumor without proof, many Lincoln Wheat Pennies have already proven to be worth thousands, even millions.
So, the next time you’re handed change at the grocery store, don’t just drop that penny into a jar. Take a closer look. You might just uncover a rare piece of numismatic history—and maybe even change your life.