In the world of coin collecting, some treasures are still hiding in plain sight. One such legend is the Lincoln Wheat Penny — a humble-looking coin that, in rare forms, has sold for up to $510,000 at auction. Could one of these ultra-valuable pennies still be in circulation today? Believe it or not, the answer might surprise you.
Let’s dive into what makes this penny so special and how to tell if you might be holding a small copper fortune in your hand.
What Is the Lincoln Wheat Penny?
First minted in 1909, the Lincoln Wheat Penny (also known as the “Wheat Cent”) was the first U.S. coin to feature a real person — President Abraham Lincoln. Its reverse side bears two stylized wheat stalks, hence the name.
Key Features:
- Obverse: Lincoln portrait
- Reverse: Two wheat ears flanking the words “ONE CENT”
- Years minted: 1909–1958
- Material: Primarily 95% copper (with a few rare steel exceptions in 1943)
The $510,000 Wheat Penny: Why So Valuable?
Not every Wheat Penny is worth a fortune, but a select few are considered holy grails in numismatics due to errors, mint marks, and condition. One such penny sold for a jaw-dropping $510,000 thanks to these factors:
1943 Bronze Lincoln Wheat Penny
- Why It’s Special: During World War II, pennies were made from zinc-coated steel to conserve copper for war needs. However, a few bronze planchets from 1942 accidentally got used in 1943.
- Known Specimens: Fewer than 20 confirmed
- Auction Price: One in near-perfect condition fetched $510,000+ at a public auction.
Other Rare Lincoln Wheat Pennies Worth Big Money
While the 1943 Bronze Penny is the headliner, there are several other Lincoln Wheat Pennies that could make you rich:
1. 1909-S VDB – Up to $100,000
- First year of the series, made in San Francisco with designer’s initials “V.D.B.”
- Only 484,000 minted — highly sought after.
2. 1914-D – Up to $13,000
- Key date due to low mintage in Denver
- Fakes are common — beware!
3. 1922 “No D” – Up to $30,000
- Denver mint with no visible mintmark due to die wear
- Scarce in high grades.
4. 1955 Double Die Obverse – Up to $50,000
- Very obvious double-image effect on “LIBERTY” and date
- Popular with collectors due to visual impact.
How to Check If You Have a Valuable Wheat Penny
Step 1: Check the Date and Mint Mark
Look for key years: 1909-S VDB, 1914-D, 1922 (No D), 1943 (bronze), 1955 (double die).
Step 2: Examine with a Magnifying Glass
Look closely for doubling, missing mint marks, or unique anomalies.
Step 3: Weigh the Coin
A steel 1943 penny should weigh 2.7 grams. A rare bronze one weighs around 3.1 grams.
Step 4: Get It Graded
Professional grading by PCGS or NGC can confirm authenticity and significantly boost value.
Final Thoughts: Is the $510K Penny Still Out There?
While most of these high-value Lincoln Wheat Pennies have been scooped up by collectors, some may still be hiding in old jars, inherited coin boxes, or even loose change. It’s not impossible — in fact, similar discoveries have been made by ordinary people.
Pro Tip:
Search old coin rolls from banks or check coins handed out as change — especially from older stores or vending machines.