If you are a rare coin collector or occasionally go through your older coins, then this news is perhaps interesting to you. There is even a special Lincoln Wheat Penny, whose value has hit millions of dollars. Certain rare coins have sold for millions of dollars in an auction.
Lincoln Wheat Penny: A Historical Coin
Lincoln Wheat Penny first came into existence in 1909. It was designed especially to celebrate Abraham Lincoln’s 100th birthday, who was the 16th President of America. Victor David Brenner, a well-known designer, designed this coin. The image of Abraham Lincoln is depicted on the obverse of this coin, and the reverse side (reverse) has two wheat stalks, indicating the prosperity of America.
This coin was in circulation until 1958, but some coins are so scarce that their sale price has gone up to millions of dollars at auction.
1943 Bronze Lincoln Wheat Penny: The Rarest Coin
The year 1943 was significant for the US, with a massive demand for copper during World War II. Because of this, the US government produced coins from zinc-coated steel rather than copper in 1943.
But inadvertently, some coins were produced on 1942 old copper planchets. This error makes them the world’s rarest and most expensive coins.
1943 Bronze Penny sells high price at auction
These rare coins have sold mind-boggling prices at auctions:
- 1943-D Bronze Cent (Produced by Denver Mint) – $840,000 (around Rs 7 crore)
- 1943-S Bronze Cent (Produced by San Francisco Mint) – $504,000 (around Rs 4 crore)
- 1943 Bronze Cent (Philadelphia Mint made) – $372,000 (around Rs 3 crore)
How to know if you have a 1943 Bronze Lincoln Wheat Penny?
If you possess a 1943 Lincoln Wheat Penny, it is crucial to verify if it is the scarce bronze one or not. There are three simple methods to verify:
- Verify the year: The coin must have 1943 inscribed on it.
- Test with a magnet: Steel coins are magnetic, but bronze (copper alloy) coins are not. If the 1943 coin does not adhere to the magnet, it could be bronze.
- Measure the weight:
- The steel coin weighs 2.7 grams.
- The bronze (rare) coin weighs 3.11 grams.
If your coin is 1943, does not adhere to the magnet, and weighs 3.11 grams, it could be a rare coin.
Other scarce and precious Lincoln Wheat Pennies
Other than the 1943 bronze Lincoln Wheat Penny, there are numerous other Lincoln Wheat Pennies that have sold for millions of dollars in auctions:
| Year | Mint Mark | Feature | Auction Price |
|---|---|---|---|
| 1909 | S VDB | Designer’s initials “VDB” | $117,500 (Rs 98 lakhs) |
| 1922 | No D | Without “D” mint mark | $30,000 (Rs 25 lakhs) |
| 1955 | None | Double Die Obverse | $288,000 (Rs 2.4 crores) |
1909-S VDB Lincoln Wheat Penny:
This coin bore designer Victor David Brenner’s initials “VDB” on it. But as people protested, the government took off the initials from the obverse. Only 4,84,000 pieces were produced in this design, so it is extremely rare.
1955 Double Die Obverse:
The letters and date on a few 1955 coins were not clear because of a double die mistake. This mistake makes it special and collectors are ready to pay a good amount for it.
How to Protect Your Rare Coins?
If you believe you have a rare Lincoln Wheat Penny, keep it properly protected and have it authenticated.
- Handle with care: Never attempt to clean the coin, as this will lower its historical and monetary value.
- Get it authenticated: Obtain a certificate from a professional coin dealer or professional grading service.
- Get it appraised: Have the coin appraised by a seasoned auction house to discover the actual market value.
Can you find a treasure hidden in your pocket?
Even though it is extremely unlikely to have a rare coin in your pocket or house, it is not out of the question. If you possess old Lincoln Wheat Penny coins, take a close look at them. You might just have a rare coin that is worth millions of dollars!
If you are interested in coin collecting, then you should find the following information very useful for you. Remember, not every coin is only a piece of metal, but it holds both history and value within it!
FAQs
Q1. How can I check if my 1943 Lincoln Wheat Penny is valuable?
You can test it with a magnet—if it does not stick, it may be a rare bronze penny. Also, weigh it; bronze pennies weigh 3.11 grams, while steel ones weigh 2.7 grams.
Q2. What makes the 1943 Bronze Lincoln Wheat Penny so valuable?
It was mistakenly minted on bronze planchets instead of steel during World War II, making it extremely rare and highly sought after by collectors.
Q3. How much is a 1943 Bronze Lincoln Wheat Penny worth?
Depending on its condition, it can sell for hundreds of thousands of dollars—one was auctioned for $840,000!
Q4. Are there other valuable Lincoln Wheat Pennies?
Yes! The 1909-S VDB, 1955 Double Die Obverse, and 1922 No D pennies are also valuable, sometimes selling for tens or hundreds of thousands of dollars.
Q5. How can I authenticate and preserve a rare Lincoln Wheat Penny?
Avoid cleaning it, store it in a protective holder, and get it certified by a professional grading service like PCGS or NGC.