Most people wouldn’t think twice about a penny. It’s small, it’s common, and it barely holds any real value—right? Well, not always. In the world of coin collecting, some Lincoln Wheat Pennies have sold for jaw-dropping amounts, including one that fetched $96,000 at auction.
And here’s the most exciting part: there’s still a chance that one of these valuable pennies could be out there, hiding in an old coin jar, tucked away in a forgotten drawer, or even mixed in with everyday pocket change.
Could you be the lucky one to find it? Let’s dig into what makes this little copper coin so special.
The Lincoln Wheat Penny: A Small Coin with a Big History
First introduced in 1909, the Lincoln Wheat Penny was a groundbreaking coin in U.S. history. It was the first circulating coin to feature a U.S. president, replacing the classic Lady Liberty designs that had been standard for decades.
Designed by Victor D. Brenner, the penny’s iconic features included:
Front (Obverse): A portrait of Abraham Lincoln, along with the minting year and the phrase “In God We Trust.”
Back (Reverse): Two wheat stalks framing the words “One Cent” and “United States of America.”
This design remained in production until 1958, when it was replaced by the Lincoln Memorial Penny, which many Americans still use today.
The Wartime Penny That Became a Collector’s Dream
The most valuable Lincoln Wheat Pennies came from an unexpected twist in history—World War II.
In 1943, as the U.S. was deeply involved in the war, copper became a critical resource for military supplies like ammunition and electrical wiring. To conserve metal, the U.S. Mint switched from copper to zinc-coated steel for penny production that year, giving pennies a distinct silver-gray appearance.
But a few copper blanks from 1942 were accidentally left in the coin presses when the transition to steel began. These blanks were struck with the 1943 date, creating a rare error coin that wasn’t supposed to exist.
These accidental 1943 copper pennies became one of the most sought-after error coins in history—and one of them sold for $96,000.
Why Is This Penny Worth So Much?
The $96,000 Lincoln Wheat Penny is a perfect example of how rarity and history can turn an ordinary coin into a collector’s goldmine. Here’s why it’s so valuable:
✅ It Wasn’t Supposed to Exist – The U.S. Mint officially stopped making copper pennies in 1943, but a small number were struck by mistake.
✅ Extremely Rare – Only a few genuine 1943 copper pennies are known to exist, making them one of the rarest coins in American history.
✅ Historical Significance – This coin represents a wartime mix-up, adding an element of historical intrigue that collectors love.
✅ Collector Demand – Rare, high-quality pennies attract intense bidding wars at auctions, driving up prices to incredible levels.
One of these rare pennies sold for $96,000, but similar ones have sold for even higher amounts—some reaching into the hundreds of thousands of dollars.
How to Identify a Valuable 1943 Penny
If you’re hoping to strike gold with an old penny, here’s what to check:
🔍 Look at the Year – It must say 1943 on the front.
🔍 Check the Color – Regular 1943 pennies are steel and have a silver-gray appearance. A genuine 1943 copper penny will have the traditional brownish-orange color of regular pennies.
🔍 Do the Magnet Test –
If your 1943 penny sticks to a magnet, it’s made of steel and isn’t valuable.
If it doesn’t stick, you might have found a rare copper version!
🔍 Weigh It – Use a digital scale to check:
A steel penny weighs 2.7 grams.
A copper penny weighs 3.11 grams.
If your 1943 penny doesn’t stick to a magnet and weighs 3.11 grams, you could be holding a coin worth thousands—or even tens of thousands—of dollars.
Other Valuable Lincoln Wheat Pennies
While the 1943 copper penny is one of the most famous error coins, several other Lincoln Wheat Pennies are also worth big money:
1909-S VDB Penny – The first-year Lincoln penny, featuring designer Victor D. Brenner’s initials, can be worth up to $100,000 in mint condition.
1914-D Penny – A rare penny from the Denver Mint that can fetch $50,000+.
1922 No D Penny – A Lincoln penny that accidentally left off the “D” mint mark, making it highly valuable.
1955 Double Die Penny – A minting error caused the date and lettering to appear doubled, making it worth tens of thousands of dollars.
Even common Wheat Pennies in pristine condition can sell for far more than face value—some collectors will pay $5 to $20 for a well-preserved Wheat Penny.
Where Could a $96,000 Penny Be Hiding?
Here’s the exciting part—these valuable pennies could still be out there. Since they were circulated like normal pennies, they might still be hiding in:
💰 Old coin jars – Many people have decades-old pennies saved up in jars or piggy banks.
💰 Estate sales & garage sales – Sometimes, people sell off inherited coin collections without realizing their worth.
💰 Bank rolls – Some collectors buy rolls of pennies from banks to search for rare coins.
💰 Pocket change – It’s rare, but every so often, someone accidentally spends an old valuable coin without knowing.
If you have a collection of old pennies, now might be the time to take a closer look!
What to Do If You Think You Found a Valuable Penny
If you come across a suspiciously old Lincoln Wheat Penny, follow these steps:
🔹 DO NOT Clean It! – Cleaning a rare coin can destroy its value—even wiping it with a cloth can remove its original surface.
🔹 Store It Safely – Keep it in a protective coin holder to prevent scratches.
🔹 Get It Authenticated – Take it to a professional coin grading service like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) for verification.
🔹 Consider Selling at an Auction – If you have the real deal, selling at a coin auction could fetch tens of thousands of dollars.
The Takeaway
The $96,000 Lincoln Wheat Penny is proof that valuable treasures can be hiding in the most ordinary places.
Could you be holding one of these rare pennies without even knowing it? Next time you find an old penny, don’t just toss it aside—take a second look.
That tiny piece of copper might just be worth a fortune.
Happy hunting!