Lincoln Wheat Penny Valued: Most people don’t pay much attention to the coins they get back as change. But what if one of them could be worth thousands of dollars? The Lincoln Wheat Penny, a coin minted in the early 20th century, has been making headlines again because one rare version is valued at up to $144,000. Even more surprising, it may still be out there in everyday circulation, waiting to be discovered.
A Brief History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to celebrate the 100th anniversary of Abraham Lincoln’s birth. It replaced the Indian Head penny and featured Lincoln’s profile on the front, with two stalks of wheat on the back. This design remained in use until 1958, when it was replaced with the Lincoln Memorial reverse. The wheat design, now iconic, gives the coin its nickname.
Why Some Pennies Are Worth More
While most Lincoln Wheat Pennies are worth only a few cents to collectors, certain ones can be extremely valuable. The rare 1943 copper penny is one of the most famous examples. During World War II, pennies were supposed to be made from steel coated with zinc to save copper for the war effort. However, a small number of copper pennies were mistakenly struck, making them incredibly rare today. These coins are the ones that can reach values in the six-figure range.
The $144,000 Penny
The $144,000 figure comes from the sale prices of rare Lincoln Wheat Pennies in top condition, especially the 1943 copper version. One of these coins, graded at the highest levels of preservation, fetched a massive sum at auction. Even worn versions can sell for tens of thousands. The rarity, historical significance, and condition all play a role in determining value.
Still in Circulation?
It may sound unbelievable, but rare coins like the 1943 copper penny have occasionally been found in loose change, inherited coin jars, or old piggy banks. While the chances are very slim, the fact that some are still unaccounted for means there’s always a possibility one could turn up in circulation.
How to Spot a Valuable Lincoln Wheat Penny
Collectors look for specific features to identify rare pennies. The mint year and the material are the biggest clues. If you ever find a 1943 penny that looks like copper instead of steel, it’s worth getting it tested. Another giveaway is that steel pennies stick to magnets, while copper ones do not.
Table of Key Lincoln Wheat Penny Values
| Year & Type | Metal | Estimated Value (Good Condition) | Estimated Value (Mint Condition) |
|---|---|---|---|
| 1909-S VDB | Copper | $700 | $2,000+ |
| 1914-D | Copper | $150 | $2,500+ |
| 1943 Steel | Steel/Zinc | $0.10 | $10+ |
| 1943 Copper | Copper | $85,000+ | $144,000+ |
Frequently Asked Questions
Q: How can I tell if I have a rare Lincoln Wheat Penny?
A: Check the year, mint mark, and the coin’s metal. Rare years like 1943 in copper or 1909-S VDB in good condition are worth checking.
Q: Can I find these rare pennies in my change today?
A: It’s possible, but very unlikely. Most valuable coins are already in collections, though a few still surface from time to time.
Q: What should I do if I find one?
A: Have it authenticated by a professional coin grading service before selling.