The idea of stumbling across a coin in your pocket that’s worth millions seems far-fetched—but it’s not entirely impossible. Among America’s most collectible coins, the Lincoln Wheat Penny has long fascinated collectors. Recently, some wild rumors have surfaced, including one claiming a Lincoln Wheat Penny still in circulation is worth $600 million. Is that even remotely true? Let’s cut in and separate fact from fiction.
Table of Contents
History
The Lincoln Wheat Penny was introduced in 1909 to mark the 100th anniversary of Abraham Lincoln’s birth. Designed by Victor D. Brenner, it made history as the first U.S. coin to feature a real person. The front shows Lincoln’s side profile, while the back features two wheat stalks curving inward—representing growth and prosperity.
This classic design ran until 1958, after which it was replaced with the Lincoln Memorial reverse. Over the years, some versions of this penny have become incredibly valuable due to minting errors, low mint numbers, and unique historical quirks.
Myth
Let’s get to the burning question—does a $600 million Lincoln Wheat Penny actually exist? Probably not. As exciting as the story sounds, there’s no verified record of any Lincoln penny ever selling for anything close to that amount. Still, there are versions of this coin that have sold for serious money—some even fetching millions.
Here are a few of the big hitters.
1943 Bronze Wheat Penny
In 1943, the U.S. Mint used steel to make pennies, conserving copper for World War II supplies. But a few bronze planchets from 1942 accidentally slipped through. These rare 1943 bronze pennies—only around 20–30 are known to exist—are now worth up to $1.7 million each.
1909-S VDB Penny
This was the first year of the Lincoln penny. The rarest version was minted in San Francisco and included the designer’s initials, “VDB,” on the back. Only 484,000 were made. In great condition, it can be worth over $100,000.
1955 Double Die Penny
This famous error coin shows a clear doubling in the date and lettering. It happened due to a misalignment during the minting process. Depending on condition, these coins can fetch $50,000 or more.
Value
What makes these coins so valuable? It usually comes down to a few key factors:
- Rarity: The fewer there are, the more collectors are willing to pay.
- Errors: Mistakes in the minting process make coins unique.
- Condition: Coins graded as MS-65 or higher (meaning mint condition) are worth much more.
- Historical Appeal: A great backstory can make a coin more desirable.
Checking
Got a jar of old pennies lying around? Here’s how to check if you’ve struck gold:
- Check the year: Look for 1909-S VDB, 1943 (especially in bronze), and 1955 double dies.
- Look for errors: Use a magnifier to spot doubling or off-center prints.
- Weigh it: A real 1943 bronze penny should weigh 3.11 grams. The steel version is lighter—2.7 grams.
- Get an opinion: Take it to a coin dealer or appraiser if it looks suspiciously rare.
Possibility
Is it possible to find a valuable Lincoln Wheat Penny today? Absolutely. While the $600 million claim is likely just a myth, people have discovered valuable coins in everyday places.
A 1943 bronze penny was once found in a school cafeteria. A rare 1955 double die turned up in a bank roll. These stories prove that rare pennies are still out there—you just need to look.
So next time you’re counting change or raiding your family’s old coin stash, keep an eye out. That dusty old penny might be worth far more than a cent.
FAQs
Is there a $600M Lincoln Penny?
No, there’s no verified penny worth $600 million.
What’s the rarest Lincoln Penny?
The 1943 bronze penny is among the rarest, worth up to $1.7M.
How do I spot a valuable penny?
Check date, look for mint errors, and weigh the coin.
Can rare pennies still be found?
Yes, valuable coins have been found in circulation.
What is a double die penny?
It’s a coin with doubled text caused by a minting error.
