Be honest—when was the last time you really looked at a penny before tossing it into a change jar or leaving it behind in your car’s cupholder? For most of us, that tiny copper coin barely registers a thought. But here’s a wild possibility: that humble little penny could actually be worth millions.
Sounds like a stretch? Not when it comes to the Lincoln Wheat Penny. Some of these seemingly ordinary coins have fetched jaw-dropping prices—$168,000, $840,000, and in rare cases, even up to $14 million. Yes, you read that right. One cent, fourteen million dollars.
The Penny That Changed American Money Forever
Let’s rewind to 1909. America was celebrating the 100th birthday of Abraham Lincoln, and the U.S. Mint decided to honor the beloved president by putting his face on a coin—something that had never been done before. Up until then, U.S. coins only had symbolic figures like Lady Liberty. The Lincoln Wheat Penny broke that mold and made history.
Designed by sculptor Victor David Brenner, the coin features Lincoln’s profile on the front and two wheat stalks framing “ONE CENT” on the back—a tribute to America’s rich agricultural roots. These iconic pennies were minted from 1909 to 1958 before being replaced by the Lincoln Memorial design we’re more familiar with today.
So, What Makes a Penny Worth a Fortune?
Most Wheat Pennies are worth just a few cents, maybe a dollar or two if they’re in good shape. But a select few are worth a fortune. Why?
It comes down to three key things:
- Rarity
- Condition
- Minting errors
The rarer the coin, the more valuable it becomes. Coins that look brand new—called “mint state”—command even higher prices. And if there’s a mistake on the coin? That’s where collectors really lose their minds. A small error can turn an everyday penny into a one-of-a-kind treasure.
The Legendary 1909-S VDB
Every coin collector dreams of finding a 1909-S VDB Lincoln Wheat Penny. Only 484,000 of these were made at the San Francisco Mint, and they carry the bold initials “VDB” on the reverse side—Victor David Brenner’s stamp of pride.
The initials stirred up so much controversy at the time, they were quickly removed, making these original versions incredibly rare. One near-perfect 1909-S VDB penny sold for an astounding $168,000. Even worn-down versions fetch thousands.
The Wartime Error That Made Headlines
Here’s where things get really interesting. In 1943, the U.S. Mint needed copper for the war effort, so pennies were made from zinc-coated steel instead. But a few bronze planchets from the previous year accidentally slipped into the mix. These “1943 bronze pennies” weren’t supposed to exist—and that mistake turned out to be worth a fortune.
In fact, a 1943-D bronze penny (minted in Denver) sold for $840,000. A 1943-S version went for $504,000. And some rare examples of these copper coins are rumored to be worth up to $5 million.
Then there’s the 1944 twist—when the Mint went back to bronze, a few steel blanks from the year before were still floating around. The result? The ultra-rare 1944 steel penny, which has sold for as much as $408,000.
How to Know If You’ve Got a Goldmine in Your Pocket
The exciting part? These rare coins might still be out there. Seriously. You could have one sitting in an old piggy bank or hiding in your kitchen junk drawer.
Here’s what to look for:
- Flip the coin and check the reverse. If you see wheat stalks instead of the Lincoln Memorial, it’s a Wheat Penny.
- Check the date. Rare years include 1909-S VDB, 1914-D, 1922 no D, 1931-S, 1943 (copper), and 1944 (steel).
- Look under the year for a mint mark: “S” (San Francisco), “D” (Denver), or no mark (Philadelphia).
- Use a magnet: real 1943 steel pennies will stick to it. If yours doesn’t? You might have one of the rare bronze versions.
Found Something Special? Don’t Clean It!
If you think you’ve struck copper gold, handle it with care. And whatever you do, don’t clean it. Cleaning can actually lower a coin’s value. Instead, wear cotton gloves and store it in a protective holder.
To get a proper value estimate, you can send it to a professional grading service like PCGS or NGC. They’ll examine it under the microscope, verify authenticity, and assign a grade—which can make a big difference when it comes time to sell.
The Bottom Line
It’s amazing to think that something as ordinary as a penny could be a hidden piece of American history—or even your ticket to a life-changing payday. So next time you get change at the grocery store, don’t ignore that little copper coin. You never know… it could be worth a whole lot more than one cent.
