Lincoln Wheat Penny : A simple penny might not seem like much, but what if one was worth over half a million dollars? That’s exactly the case with one very rare coin: the 1943 Lincoln Wheat Penny made of bronze. This article dives into the fascinating story of this penny, how it became so valuable, and how you might just find one in your own pocket.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first introduced in 1909 to honor the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person and remained in circulation until 1958. The “wheat” nickname comes from the two wheat ears on the reverse side, symbolizing prosperity and national growth. These pennies are already popular with collectors—but some, like the 1943 bronze version, are far rarer than others.
Why Is the 1943 Bronze Lincoln Penny So Valuable?
In 1943, during World War II, the U.S. Mint switched from using copper to steel for pennies to conserve copper for ammunition and equipment. However, a few bronze coin blanks from 1942 were accidentally used in the minting process. This error resulted in a small number of 1943 bronze pennies, making them incredibly rare and highly valuable. One such penny sold for $575,000 at auction, and others have sold for even more.
How Can You Tell If You Have a Rare 1943 Bronze Penny?
At first glance, a 1943 bronze penny may look just like any other old coin, but there are a few key things to check:
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Magnet Test: Steel pennies stick to a magnet. Bronze does not. If your 1943 penny isn’t magnetic, it might be rare.
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Color: Bronze pennies have a reddish-brown hue, while steel ones are silver-gray.
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Date and Mint Mark: Look for the year 1943 and check if there’s a mint mark under the date (D for Denver, S for San Francisco, or no mark for Philadelphia).
If you suspect you’ve found one, consult a professional coin appraiser or send it to a coin grading service for verification.
Are There Other Rare Lincoln Pennies to Look For?
Yes! While the 1943 bronze penny is one of the most famous, other Lincoln pennies are also valuable due to minting errors or low mintage numbers. Some examples include:
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1909-S VDB (first year, rare San Francisco mint)
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1955 Doubled Die Obverse (has visible doubling in the lettering)
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1944 Steel Penny (another accidental leftover from wartime changes)
Collectors pay thousands—even tens of thousands—for these rarities.
Why Do Rare Pennies Sell for So Much?
The value of these coins comes from a mix of rarity, historical significance, and collector enthusiasm. When only a few coins exist, collectors are willing to pay big money to own them. Auctions, coin shows, and private sales drive the market value higher, especially when coins are authenticated and in good condition.
Could One Be in Your Pocket Right Now?
It might sound far-fetched, but many valuable coins have been found by people who weren’t even looking. Sometimes these rare pennies slip into circulation by mistake or are forgotten in collections passed down through families. That’s why coin collectors often encourage people to check their change, piggy banks, and old coin jars—you never know what might be sitting there.
Frequently Asked Questions (FAQs)
Q1: How many 1943 bronze Lincoln pennies exist?
A: It’s estimated that fewer than 20 exist, with some experts believing only around a dozen have been confirmed.
Q2: What’s the best way to check if my penny is valuable?
A: Start with a magnet test. Then check the year and mint mark. If it passes those checks, have it examined by a professional coin grader.
Q3: Can I sell a rare penny myself?
A: You can, but it’s best to go through reputable auction houses or certified coin dealers to get the best value.
Q4: What’s the difference between bronze and copper pennies?
A: Bronze is an alloy of mostly copper with a small amount of tin and zinc. Most pre-1982 pennies are copper-based, while the rare 1943 bronze penny is an error coin during a year when pennies were supposed to be made from steel.
Q5: Are old pennies always valuable?
A: Not all old pennies are valuable. Value depends on the rarity, condition, and demand for that specific year and mint mark.
