Most people overlook pennies, tossing them into jars or ignoring them in loose change. But what many don’t realize is that some Lincoln Wheat Pennies are incredibly rare and valuable, with a few selling for over $1 million. Even more surprising is the fact that a handful of these rare coins are still occasionally found in circulation, making everyday pocket change far more exciting than it seems.
What Are Lincoln Wheat Pennies
Lincoln Wheat Pennies were minted in the United States from 1909 to 1958. They feature Abraham Lincoln’s portrait on the front and two wheat stalks on the reverse, symbolizing prosperity. These coins were widely circulated for decades, which is why many still exist today. However, only specific years, mint marks, and error coins hold extraordinary value.
Why Some Wheat Pennies Are Worth So Much
The value of a Lincoln Wheat Penny depends on rarity, condition, mint location, and errors. Coins with low mintage numbers, historical significance, or unique minting mistakes can fetch massive prices at auctions. High-grade coins that remain in near-perfect condition are especially prized by collectors.
The Famous $1 Million Wheat Pennies
One of the most legendary coins is the 1943 Bronze Lincoln Wheat Penny. During World War II, pennies were supposed to be made of steel to conserve copper. A small number were accidentally struck in bronze, making them extremely rare. One of these coins sold for over $1 million, turning a simple penny into a life-changing discovery.
Another valuable coin is the 1909-S VDB Wheat Penny, which was the first Lincoln penny ever made and produced in very limited numbers. In excellent condition, it can be worth hundreds of thousands of dollars.
Rare Error Pennies to Look For
Some Wheat Pennies are valuable because of minting errors, including:
- Double Die Pennies, where letters or numbers appear doubled
- Off-center strikes, where the design is misaligned
- Wrong metal errors, such as bronze instead of steel
These mistakes make coins unique, increasing their demand among collectors.
Can These Coins Still Be Found in Circulation
While extremely rare, some valuable Wheat Pennies are still discovered in everyday change, old piggy banks, inherited collections, or rolls of coins from banks. Many people unknowingly spend rare pennies, which is why collectors constantly search through circulated coins hoping to find a hidden treasure.
How to Check If Your Penny Is Valuable
If you come across a Wheat Penny, check the year, mint mark (S, D, or no mark), and condition. Using a magnet can help identify steel versus bronze coins, especially for 1943 pennies. For potentially valuable finds, professional grading services can confirm authenticity and value.