The Lincoln Wheat Penny Valued at $5.7 Million, Still in Circulation
Most people don’t give much thought to pennies. We leave them in drawers, coin jars, and sometimes even on the ground. But what if one of those pennies is secretly worth a fortune? Believe it or not, a Lincoln Wheat Penny has been valued at $5.7 million, and some coin experts believe that one like it could still be circulating today.
The idea that a one-cent coin could be worth millions sounds crazy, but in the world of rare coins, it’s absolutely possible. Some Lincoln Wheat Pennies are so rare and valuable because of minting mistakes, limited production, or special materials used during certain years.
In this article, we’ll explore the fascinating story behind the million-dollar Lincoln Wheat Penny, what makes it unique, and how you can identify one in your own collection or pocket change.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was the first U.S. coin to feature a real person — President Abraham Lincoln. It was introduced in 1909 to mark the 100th anniversary of his birth and was produced until 1958. The front of the coin shows Lincoln’s profile, while the back features two wheat ears on either side of the words “ONE CENT.”
This coin is often called the “Wheat Penny” because of the wheat design. Millions were minted over the years, and most are only worth a few cents today. But some special versions are worth thousands — or even millions.
What Makes One Worth $5.7 Million?
The Lincoln Wheat Penny that reached the $5.7 million value is believed to be a rare 1943 copper version. Here’s what makes it so valuable:
1. Minting Error
In 1943, most pennies were made from steel coated with zinc because copper was being saved for World War II materials. However, a small number of copper planchets (coin blanks) were mistakenly used at the mint, creating the now-famous 1943 copper penny.
2. Rarity
Only a few copper 1943 Wheat Pennies are known to exist. That makes them incredibly rare and highly sought after by collectors.
3. Condition
The coin’s condition plays a huge role in its value. The $5.7 million penny was in near-perfect shape, also called “mint state.”
4. Collector Demand
Rare coins like this attract attention from wealthy collectors who are willing to pay high prices to own something truly unique.
Overview Table
| Coin Name | Lincoln Wheat Penny |
|---|---|
| Year Minted | 1943 (copper version) |
| Original Metal (1943) | Steel coated with zinc |
| Rare Version Metal | Bronze (95% copper) |
| Estimated Value | $5.7 Million |
| Mint Marks | No mark (Philadelphia), D (Denver), S (San Francisco) |
| How Many Exist? | Less than 20 known |
| Still in Circulation? | Possibly – very rare, but could be found |
Design & Style
The Lincoln Wheat Penny has a classic and simple design. On the front, Abraham Lincoln’s profile faces right. On the back, two stalks of wheat curve inward around the words “ONE CENT” and “UNITED STATES OF AMERICA.” At the top, the Latin phrase “E PLURIBUS UNUM” is engraved, which means “Out of many, one.”
This design was created by Victor David Brenner, whose initials — “VDB” — appear on the bottom of some coins. The 1909-S VDB penny is another rare version that’s very valuable on its own.
How to Tell If You Have the $5.7 Million Penny
Finding a penny worth millions is rare, but not impossible. Here’s how you can check:
1. Look at the Date
Check for the year 1943 on the front of the coin. This is the year most pennies were made of steel, but the rare ones were made of copper.
2. Test with a Magnet
Steel is magnetic, but copper is not. If your 1943 penny doesn’t stick to a magnet, it might be copper — and possibly very valuable.
3. Check the Color
Copper pennies are brown or reddish. If your 1943 penny is silver or gray, it’s likely steel. If it’s brown, get it checked!
4. Look at the Weight
A copper penny weighs about 3.11 grams. A steel penny weighs less — around 2.7 grams. A simple scale can help.
5. Get It Verified
If your coin passes the tests above, don’t try to sell it right away. Have it authenticated and graded by a trusted coin grading company like PCGS or NGC.
Five FAQs About the $5.7 Million Lincoln Penny
1. Are all 1943 pennies valuable?
No. Most 1943 pennies are made of steel and are only worth 10–50 cents. Only the rare copper versions are worth big money.
2. How many 1943 copper pennies are known to exist?
Less than 20 have been confirmed, but others could still be out there.
3. Can you find a 1943 copper penny in circulation?
It’s extremely rare, but yes, a few have been found in circulation, old jars, or coin rolls from banks.
4. What should I do if I think I have one?
Handle it carefully, don’t clean it, and get it professionally graded and authenticated before selling or showing it.
5. Are other Wheat Pennies valuable too?
Yes! Other rare years like 1909-S VDB, 1914-D, and 1922 no D Wheat Pennies are also worth hundreds or thousands of dollars.
Final Thoughts
The story of the Lincoln Wheat Penny valued at $5.7 million proves that even the smallest coin can hold incredible value. Whether because of a minting error, rarity, or history, some coins are worth far more than their face value.
So next time you receive change at the store or clean out an old jar of coins, take a closer look. That plain-looking penny could actually be a rare piece of history — and maybe even your ticket to a small fortune.