Imagine pulling a dusty old penny from your pocket and realizing it could be worth $220 million. Sounds like a plot twist from a Hollywood movie, doesn’t it? But this isn’t just some wild fantasy—at least not entirely. There’s buzz in the coin collecting world about a legendary Lincoln Wheat Penny with an eye-popping value. While no official sale has hit that $220 million mark, rare coins have brought in millions before. So, is this penny real? And more importantly—could you actually find one?
What’s the Lincoln Wheat Penny, Anyway?
Let’s rewind a bit. The Lincoln Wheat Penny made its debut in 1909 to honor the 100th birthday of President Abraham Lincoln. It was a historic moment—it marked the first time a real person, not just a symbolic figure, appeared on a U.S. coin. The front (obverse) shows Lincoln’s profile, and the back (reverse) displays two simple wheat stalks, a nod to American prosperity.
These coins were minted until 1958, when the design was replaced with the more familiar Lincoln Memorial. Most Wheat Pennies you’ll come across today are only worth a few cents—but some rare versions? They’re worth a whole lot more.
Why Would a Penny Be Worth $220 Million?
Now to the burning question: what could possibly make a penny worth that kind of money?
It all comes down to a wartime mix-up.
The 1943 Copper Lincoln Wheat Penny
During World War II, copper was desperately needed for ammunition and other military supplies. So in 1943, the U.S. Mint made pennies from zinc-coated steel instead of copper. But a few copper blanks from 1942 somehow slipped through the cracks—and were accidentally used to make a small number of 1943 copper pennies.
These are some of the rarest and most coveted coins in the world.
- Only a handful exist.
- One reportedly sold for $1.7 million in 2010.
- Another fetched nearly $1 million in a private sale.
- Some collectors believe one perfect specimen could be worth up to $220 million—especially if it’s in mint condition and uncirculated.
Sure, that $220 million number is more rumor than reality at this point. But hey, stranger things have happened at auctions.
How to Check if You’ve Got the Rare One
Got some old pennies lying around? Before you cash them in, here’s how to spot a potential goldmine:
- Look at the Date
Is it a 1943 penny? Great. But that’s just the beginning. - Do the Magnet Test
Regular 1943 pennies were made of steel and will stick to a magnet. A copper version? It won’t. - Check the Weight
Steel pennies weigh about 2.7 grams. Copper ones weigh around 3.11 grams. You’ll need a digital scale for this test. - Inspect the Mint Mark
1943 pennies were minted in Philadelphia (no mark), Denver (“D”), and San Francisco (“S”). All mint locations could have produced a rare copper penny.
Where Could You Find One?
You don’t have to be Indiana Jones to go on this treasure hunt. People have discovered rare coins in some pretty ordinary places:
- Pocket change
- Old piggy banks
- Inherited coin collections
- Bank penny rolls (yes, some collectors still search them)
If you’ve got a jar of pennies collecting dust, it might be time to dig in.
What to Do If You Think You Found It
If your penny passes the initial tests, don’t rush to post it on eBay. Here’s what you should do next:
- Visit a Professional Coin Dealer
Get an expert opinion before making any big moves. - Send It for Grading
Reputable services like PCGS or NGC can authenticate and grade your coin. - Consider an Auction
If it’s real, auction houses like Heritage Auctions or Stack’s Bowers could help you get the best price—maybe even a record-setting one.
So, Is There Really a $220 Million Penny?
Let’s be honest—no 1943 copper penny has sold for $220 million. Yet. But could the right combination of condition, rarity, and a wealthy collector’s desire push the price that high someday? It’s possible.
The important thing is: these pennies are real. And they’re worth far more than just one cent.
Final Thoughts
Most of us walk around with pocket change without giving it a second thought. But sometimes, that tiny coin could be hiding a story worth millions. If you ever come across a 1943 penny, don’t just shrug it off—give it a closer look.
Who knows? You might just be holding a little piece of American history… and your ticket to early retirement.