Imagine pulling a small copper penny from your pocket and finding out it’s worth $170 million. Sounds like something out of a movie, right? But it’s not just a fantasy. The Lincoln Wheat Penny, a seemingly ordinary coin, has become a legendary treasure in the world of collectors. Some of these rare versions are still floating around in circulation, and if you’re lucky, you could have one without even knowing it.
Let’s cut into the fascinating history, features, and signs to look for if you think you might have one of these priceless pennies.
Origins
The Lincoln Wheat Penny, or Wheat Cent, was introduced in 1909 by the U.S. Mint to honor President Abraham Lincoln’s 100th birthday. It was designed by Victor David Brenner and was the first American coin to feature a real person.
On the front (obverse), you’ll find Lincoln’s profile, the words “IN GOD WE TRUST,” and the year it was minted. The back (reverse) shows two wheat stalks flanking the words “ONE CENT” and “UNITED STATES OF AMERICA.” That’s why it’s commonly called the Wheat Penny.
Originally made from 95% copper, the composition changed temporarily during World War II. In 1943, most pennies were made of steel to conserve copper for the war effort—but a few copper ones slipped through, and those are the real prize.
Value
Not every Lincoln Wheat Penny will make you a millionaire, but some extremely rare ones are valued in the tens—if not hundreds—of millions. The most expensive one? A stunning $170 million! That’s because it’s a rare minting error and probably the only one of its kind left.
Here’s what gives it that sky-high value:
- Rare minting errors – Misprints and mistakes drive value up fast.
- Tiny supply – Only a handful of these special versions exist.
- Historical ties – Certain years like 1909-S VDB or the copper 1943 penny are iconic.
- Perfect condition – A flawless coin is worth way more than a worn one.
Features
Wondering if your old penny might be worth a fortune? Start with these checks:
1. Look at the Date
- 1909-S VDB – One of the rarest versions due to limited minting.
- 1943 Copper Penny – A few were mistakenly made of copper instead of steel.
- 1955 Double Die – This error coin shows doubled letters, making it a collector favorite.
2. Mint Marks
Check below the date for small letters:
- S – San Francisco
- D – Denver
- No Mark – Philadelphia
Coins from certain mints, especially with lower mintage, are more valuable.
3. Coin Condition
Collectors grade coins based on their condition. If your penny has no scratches, crisp edges, and clear designs, it could be in “mint state”—and that means serious money.
Circulation
It’s hard to believe, but these rare pennies are still occasionally found in circulation. With billions of pennies out there, some rare ones slip through unnoticed. Most people don’t examine their change carefully, which means treasures can go undiscovered for years.
Checklist
Want to know if your penny is a hidden gem? Follow these steps:
| Step | What to Do | Why It Helps |
|---|---|---|
| 1 | Sort through old coins or spare change | Rare coins might be hiding in plain sight |
| 2 | Use a magnifier | Look closely for dates, marks, and errors |
| 3 | Compare with online reference guides | Helps you spot high-value features |
| 4 | Consult a coin expert or appraiser | Get a professional opinion |
The Lincoln Wheat Penny is a coin with character, history, and mystery. Some are only worth a cent, while others could buy you a private island. The idea that a $170 million coin could be hiding in someone’s wallet right now is wild—but true. So next time you find a Wheat Penny, don’t toss it aside. It might just be your lucky break.
FAQs
What is a Lincoln Wheat Penny?
A U.S. coin minted from 1909–1958 featuring wheat stalks on back.
Why is the 1943 copper penny rare?
Most 1943 pennies were made of steel, not copper.
Which Lincoln Penny is worth $170M?
A rare early error coin, likely unique in existence.
How do I check for rare pennies?
Use a magnifier, check the date, mint mark, and errors.
Are valuable pennies still in use?
Yes, some rare ones still circulate unnoticed.
