Lincoln Wheat Penny Worth $111 Million? Here’s the Real Story
The Lincoln Wheat Penny is one of the most iconic coins in U.S. history. First minted in 1909 to celebrate Abraham Lincoln’s 100th birthday, it was the first U.S. coin to feature a real person instead of a symbolic figure like Lady Liberty. Designed by Victor David Brenner, the front of the penny shows Lincoln’s face, while the back shows two wheat stalks around the words “ONE CENT” and “UNITED STATES OF AMERICA.” This design stayed in use until 1958, when the Lincoln Memorial design replaced it.
The $111 Million Hype
Lately, rumors have spread online about a Lincoln Wheat Penny being worth an unbelievable $111 million. These stories have sparked a wave of interest, with many people checking their change in hopes of striking it rich. However, experts in coin collecting say this number is way off. While it’s true that some rare Lincoln Wheat Pennies are valuable, none have sold for anything close to $111 million. That figure seems to be more about grabbing attention than reflecting actual coin market prices.
Real Rare Pennies That Are Valuable
Some Lincoln Wheat Pennies are truly rare and worth serious money. The most famous is the 1943 copper penny. During World War II, the U.S. Mint switched from copper to steel to save copper for the war. But a few copper blanks were mistakenly used in 1943, making those pennies extremely rare. Only 20 to 40 are believed to exist. One of these sold at auction in 2010 for about $1.7 million—an impressive amount, but far from $111 million.
Other Valuable Lincoln Wheat Pennies
Several other Wheat Pennies are worth collecting:
- 1909-S VDB: Only 484,000 were made before the designer’s initials (VDB) were removed. In good condition, they can sell for tens of thousands of dollars.
- 1914-D: Minted in low numbers (just 1.2 million), this coin is a collector favorite.
- 1922 “No D”: A rare minting mistake where the Denver mint mark is missing.
- 1955 Double Die: The text on this coin looks doubled due to a printing error. These can also sell for thousands.
What Makes Some Pennies So Valuable?
Several factors determine a coin’s value:
- Rarity: Fewer coins usually mean higher value.
- Errors: Mistakes like the 1943 copper penny or 1955 Double Die are very desirable.
- Historical Importance: Coins tied to major events or changes in minting attract more interest.
- Condition: Coins in “mint state” (excellent condition) are worth the most.
How to Spot a Valuable Lincoln Penny
If you’re curious whether your penny is worth something, here are a few tips:
- Check the Date: Years like 1909, 1914, 1922, 1943, and 1955 are key ones to watch for.
- Look for a Mint Mark: Small letters like “S” (San Francisco) or “D” (Denver) can make a big difference.
- Test with a Magnet (for 1943 pennies): Copper pennies won’t stick to a magnet, but steel ones will.
- Weigh the Coin: A real copper penny weighs about 3.11 grams, while a steel one weighs closer to 2.7 grams.
Are Rare Pennies Still Out There?
It’s possible, though unlikely, that a valuable Lincoln Wheat Penny is still in circulation. Most rare coins have already been found, but some may still be hidden in old jars, collections, or even pocket change. The chances of finding a 1943 copper penny are very slim—but not impossible.
Why Do These Wild Coin Stories Keep Popping Up?
Stories about everyday items being worth millions are popular because they make people dream of unexpected riches. They suggest that anyone could find a hidden treasure. These headlines attract lots of attention, even if they aren’t based on verified facts. That’s why the $111 million penny story keeps spreading, even though experts say it isn’t real.
The Joy of Coin Collecting
Even if you never find a million-dollar penny, coin collecting can be a fun and educational hobby. It gives you a hands-on way to learn about history and the economy. Lincoln Wheat Pennies are especially popular because they’re relatively affordable and easy to find. Some rare coins can increase in value over time, but experts warn that it’s important to learn the basics and get coins professionally graded if you’re serious about investing.
Final Thoughts
While the idea of a $111 million Lincoln Wheat Penny is exciting, it’s most likely just a myth. The real stars—like the 1943 copper penny and 1909-S VDB—are still incredibly valuable in their own right. If you’re interested in collecting coins, stick to trusted sources and enjoy the journey. Whether you’re in it for the history, the fun, or the potential profit, the world of coin collecting has something for everyone.
Disclaimer
This article is for informational purposes only. Coin prices change depending on the market, condition, and rarity. The figures mentioned are based on past sales and expert estimates, not guaranteed values. Be cautious of extreme claims and consult a professional coin dealer or grading service if you think you’ve found a rare coin. The writer is not responsible for financial decisions made based on this content.