Hidden in your loose change might be a penny worth millions. The Lincoln Wheat Penny, a coin produced between 1909 and 1958, is common — but some rare versions are incredibly valuable. One rare penny has even sold for over $2 million. In this article, we’ll explain which pennies are valuable, how to spot them, and why some pennies are worth a fortune.
What Is a Lincoln Wheat Penny?
The Lincoln Wheat Penny is a one-cent coin minted by the United States from 1909 to 1958. It is called a “wheat penny” because the back of the coin has two wheat stalks. The front features Abraham Lincoln, America’s 16th president.
- The coin was made mostly of copper (95%)
- The penny is smaller than a quarter but bigger than a dime
- It was replaced by the Lincoln Memorial penny in 1959
Most wheat pennies are worth only a few cents, but some rare pennies can be worth thousands or even millions.
Why Are Some Wheat Pennies So Valuable?
Some wheat pennies are rare because of:
- Minting errors: Mistakes during production that made unique coins
- Low production numbers: Pennies that were made in smaller quantities
- Historical significance: Pennies from important years or places
- Condition: Coins that look brand new are more valuable
The Most Valuable Wheat Penny: The 1943 Copper Penny
Most 1943 pennies were made of steel because copper was needed for World War II. But a few 1943 pennies were accidentally made from copper instead of steel. These copper pennies are extremely rare and valuable.
- Only about 40 to 50 copper 1943 pennies are known to exist
- They can sell for over $2 million at auctions
- The penny looks shiny copper instead of silver steel
Other Valuable Wheat Pennies
| Year | Why It’s Valuable | Approximate Value |
|---|---|---|
| 1909-S VDB | First year of the penny; initials VDB visible on back | $1,000 – $50,000 |
| 1914-D | Low mintage year with Denver mint mark | $1,000 – $20,000 |
| 1922 No D | Mint mark missing, rare error | $15,000 – $100,000 |
| 1943 Copper | Made accidentally from copper instead of steel | $1 million – $2.1 million |
| 1955 Double Die | Double image on front; famous error | $10,000 – $50,000 |
Values depend on the coin’s condition and if it’s certified by experts.
How to Spot a Valuable Wheat Penny
Here’s how you can check if your wheat penny is valuable:
- Check the year and mint mark: Look for special years like 1909, 1914, or 1943
- Look for errors: Missing mint marks, double images, or unusual colors
- Check the metal: A 1943 penny should be steel (silver color). If it’s copper-colored, it might be valuable
- Examine the condition: Coins with less wear and tear are worth more
- Get professional help: Certified grading adds value and trust
Why Condition Matters
Coins in mint condition — meaning they look almost new — can be worth many times more than worn coins. Even rare pennies lose value if they are damaged, scratched, or dirty. When buying or selling, always look for coins graded by experts.
Protecting and Selling Your Rare Penny
If you think you have a rare penny:
- Don’t clean it — cleaning can reduce value
- Store it safely in a coin holder
- Get it authenticated by professional graders like PCGS or NGC
- Check recent auction prices to know its value
- Sell through trusted coin dealers or auction houses
Frequently Asked Questions (FAQ)
Q1: How can I tell if my 1943 penny is copper or steel?
A: Copper pennies look brownish or reddish, while steel pennies are silver-gray. A magnet will stick to steel but not to copper.
Q2: What does “mint mark” mean?
A: It is a small letter on the coin showing where it was made (e.g., S = San Francisco, D = Denver).
Q3: Why is the 1909-S VDB penny valuable?
A: It was the first year of the Lincoln penny and has the designer’s initials (VDB) on the back, which was quickly removed later.
Q4: Can I find valuable wheat pennies in my change?
A: It’s rare, but possible. Always check your old coins carefully.
Q5: Should I clean my coins to increase their value?
A: No, cleaning damages coins and lowers their value.
Conclusion
Lincoln Wheat Pennies are more than just old coins — some are hidden treasures that could be worth millions. The 1943 copper penny is the most famous example, but many other wheat pennies have value depending on their year, mint mark, and condition. Take a close look at your change—you might be holding a fortune without knowing it.