Posted by The Lincoln Wheat Penny, first minted in 1909, is one of the most collected and studied coins in U.S. history.
While most are worth only a cent, a select few rare variations have skyrocketed in value — one particular penny has been valued at a staggering $950,000, and astonishingly, it may still be in general circulation.
Here’s what you need to know to spot this rare gem and why it’s worth so much.
A Brief History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced in 1909 to honor the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person, replacing classical imagery with Lincoln’s profile.
The reverse side featured two wheat stalks encasing the denomination and country name. This design remained in use until 1958.
Why Is One Penny Worth $950,000?
Some Lincoln Wheat Pennies are worth far more than face value due to rare minting errors or limited production runs.
One of the most valuable is the 1943 bronze penny, created accidentally when copper planchets were struck instead of the wartime steel ones. Only about 20 authenticated examples of this coin exist, making it extremely rare.
These rare versions often fetch hundreds of thousands at auction. A high-grade 1943 bronze Wheat Penny has reached a valuation of $950,000, mainly because of its rarity and historical context.
How to Identify a High-Value Lincoln Wheat Penny
Knowing what to look for is key if you hope to find a valuable Lincoln Wheat Penny.
| Feature | Details to Check |
|---|---|
| Date | Key years: 1909-S VDB, 1914-D, 1922, 1943, 1955 |
| Mint Marks | Look for S (San Francisco) and D (Denver) |
| Metal Composition | 1943 pennies should be steel; bronze is rare |
| Design Details | The VDB initials on the reverse of 1909 pennies |
| Magnet Test | Steel sticks to magnets; bronze does not |
Why Condition Matters in Coin Value
The condition of the coin, or its grade, plays a huge role in its value. Coins are graded from Poor (P-1) to Mint State (MS-70).
A rare Lincoln Penny in mint condition can be worth hundreds of thousands more than the same coin in worn condition. Collectors seek coins with:
- Sharp detail
- Original luster
- No significant scratches or damage
A coin grading service like PCGS or NGC can professionally verify the condition.
Can You Really Find One in Circulation?
Yes. Despite their rarity, some valuable Lincoln Wheat Pennies have been discovered in:
- Pocket change
- Inherited coin collections
- Old piggy banks or jars
- Coin roll hunts
Since billions of Lincoln Wheat Pennies were minted, and not all have been pulled from circulation, it’s still possible to find a rare one today.
What to Do If You Think You Found One
If you suspect you’ve found a valuable Lincoln Wheat Penny, don’t rush to sell it. Here are the steps:
- Do a visual inspection for key dates and mint marks.
- Conduct a magnet test for the 1943 penny.
- Seek authentication from a certified coin grading service.
- Avoid cleaning the coin — it can reduce its value.
- Contact reputable dealers or auction houses for appraisal.
The idea that a Lincoln Wheat Penny worth $950,000 could still be out there is thrilling for collectors and everyday people alike.
While most are common, a few extraordinary examples remain unaccounted for — and could be lying unnoticed in your pocket change.
By learning how to identify and authenticate these pennies, you might just strike gold with a single cent.
FAQs
What year Lincoln Wheat Penny is worth $950,000?
The 1943 bronze Lincoln Wheat Penny is the one valued up to $950,000 due to its extreme rarity.
How do I know if I have a valuable Lincoln Wheat Penny?
Check the date, mint mark, and metal. Rare dates like 1909-S VDB or 1943 bronze versions are key.
Can I find a rare penny in pocket change?
Yes. Some of the rarest Lincoln Wheat Pennies were circulated, meaning they could still be found today.