It might sound unbelievable, but one of the most valuable coins in American history—a Lincoln Wheat Penny—is estimated to be worth a staggering $5.7 million. Even more shocking? This rare coin is reportedly still in circulation, potentially hiding in a pocket, purse, or piggy bank. With coin collecting experiencing a resurgence, stories like this have ignited a treasure-hunting craze among Americans eager to find forgotten fortune in their spare change.
In this article, we’ll break down what makes this Lincoln Wheat Penny so valuable, its fascinating history, and how you can spot one yourself.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the Wheat Cent, was first introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. Designed by Victor David Brenner, it was the first U.S. coin to feature a historical figure rather than the classic Lady Liberty motif.
Key Features:
- Obverse (front): Portrait of Abraham Lincoln
- Reverse (back): Two wheat ears flanking the words “ONE CENT” and “UNITED STATES OF AMERICA”
- Years minted: 1909 to 1958
Collectors prize these coins for their historical significance, design, and—most importantly—rarity.
The $5.7 Million Lincoln Wheat Penny: What Makes It So Valuable?
The penny in question is no ordinary Wheat Cent. It’s believed to be a 1943 Lincoln Wheat Penny mistakenly struck in bronze rather than the standard zinc-coated steel used during World War II.
Why Was 1943 Unique?
In 1943, due to wartime metal shortages, the U.S. Mint stopped using copper for pennies and switched to zinc-coated steel. However, a few bronze planchets (coin blanks) were accidentally left in the machines and got stamped with the 1943 date.
These bronze 1943 pennies are exceptionally rare—fewer than 20 are known to exist.
One Sold for $5.7 Million
A near-perfect example of this bronze 1943 Lincoln cent reportedly sold through a private sale for $5.7 million, making it one of the most valuable coins ever exchanged. Experts believe a few more may still be unaccounted for and possibly circulating undetected.
How to Tell If You Have the $5.7 Million Penny
While most 1943 pennies are steel and will stick to a magnet, the bronze versions will not. Here’s how to check:
Step-by-Step:
- Look at the Date: Check your pennies for the year 1943.
- Do the Magnet Test: If it sticks to a magnet, it’s steel and worth only a few cents. If it doesn’t, you might be holding something rare.
- Check the Color: Steel pennies are silver-gray. Bronze ones have a more traditional brown or reddish tone.
- Weigh It: Bronze pennies weigh about 3.11 grams, while steel cents weigh around 2.7 grams.
- Get It Verified: If you believe you’ve found one, consult a reputable coin dealer or grading service like PCGS or NGC.
Other Rare Lincoln Wheat Pennies to Look For
Even if you don’t find the $5.7 million gem, there are several other Wheat Pennies worth hundreds or thousands:
- 1909-S VDB – Up to $3,000+
- 1914-D – Valued at $200–$3,000 depending on condition
- 1922 No D – A Denver mint coin missing its “D” mintmark, worth up to $2,500+
- 1955 Doubled Die Obverse – Famous for its doubled lettering; worth $1,000 to $15,000
Why Rare Pennies Are Still Found in Circulation
With over 100 billion pennies minted since 1909, it’s not impossible that some rare examples—especially ones like the 1943 bronze—have slipped through the cracks.
Many valuable coins resurface when:
- Older collections are cashed in at banks
- Estates are liquidated
- Coin rolls are searched by hobbyists
Even casual coin handlers can stumble upon a fortune with enough luck and sharp eyes.
Tips for Finding Rare Pennies
If you want to hunt down one of these elusive coins, here are some practical tips:
- Check change regularly—especially older-looking coins
- Search bank rolls of pennies (often called “coin roll hunting”)
- Use a magnifier to inspect dates and errors
- Study key dates and varieties using coin guides or online databases
- Join a local coin club to learn from experienced collectors
Final Thoughts: Could You Be Holding a Fortune?
The idea that a $5.7 million Lincoln Wheat Penny might still be out there is more than just a collector’s fantasy—it’s a documented reality. Though incredibly rare, these coins do exist and occasionally surface in the most unexpected places.
So, the next time you hear that familiar clink of loose change in your pocket, don’t dismiss it. Your ordinary-looking penny might just turn out to be an extraordinary piece of American history—and possibly your ticket to instant wealth.