When you think of a penny, you probably picture a tiny coin that barely holds any value. But what if one of those pennies was actually worth $880,000? It might sound unbelievable, but one rare version of the Lincoln Wheat Penny could be worth that much—and it might still be out there in someone’s change jar or even in your pocket.
Let’s take a closer look at what makes this penny so valuable, how to spot it, and whether you might already own one without even knowing it.
A Quick History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first minted in 1909 to celebrate the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person. Designed by Victor D. Brenner, the coin shows Lincoln’s profile on the front and two wheat stalks on the back—hence the nickname “Wheat Penny.”
The U.S. Mint produced these coins until 1958. After that, the design changed to feature the Lincoln Memorial. Over nearly five decades, billions of Wheat Pennies were made, but only a few of them are worth serious money today.
Why Is One Lincoln Wheat Penny Worth $880,000?
One year in particular stands out: 1943. That year, due to World War II, copper was needed for military supplies, so the U.S. Mint made pennies out of zinc-coated steel instead of copper.
But by mistake, a few copper blanks from 1942 were still in the minting machines—and they were used to make a small number of 1943 pennies. These rare copper coins are now among the most valuable in the world. One of them has even sold for an incredible $880,000 at auction.
Only a handful of these copper 1943 pennies are known to exist, making them one of the “holy grails” of coin collecting.
Quick Facts About the Lincoln Wheat Penny
| Feature | Details |
|---|---|
| Coin Name | Lincoln Wheat Penny |
| First Minted | 1909 |
| Most Valuable Year | 1943 (Copper Error) |
| Common Material (1943) | Zinc-coated Steel |
| Rare Material | Copper |
| Top Sale Price | $880,000 |
| Still Circulating? | Possibly |
| Key Design | Wheat stalks on the back |
Could One Still Be in Circulation?
Surprisingly, yes—it’s possible. Over the years, people have discovered rare coins in all kinds of places: pocket change, old piggy banks, garage sales, and even under couch cushions. Since most people don’t know what to look for, one of these ultra-rare pennies could be hiding in plain sight.
How to Tell If You Have a Rare 1943 Copper Penny
Think you might have one of these hidden treasures? Here’s how to check:
- Look at the Date
Find a penny from 1943. Most will be silver-gray (steel), but if it looks copper or reddish-brown, you might have something rare. - Try the Magnet Test
Steel pennies stick to magnets. Copper ones don’t. If your 1943 penny doesn’t stick to a magnet, it could be the real deal. - Check the Condition
A cleaner, well-preserved coin is worth more. Even rare coins drop in value if they’re scratched or damaged. - Don’t Clean It
Never polish or scrub old coins—it can ruin their value. Store it carefully and take it to a coin expert or professional dealer.
Why Collectors Love the Lincoln Wheat Penny
Collectors love the Lincoln Wheat Penny not just because of rare versions like the 1943 copper error, but also for its timeless design and place in U.S. history. Even common Wheat Pennies from earlier mint years can be worth hundreds or thousands of dollars, especially if they’re in good shape or come from limited production runs.
Final Thoughts: The Penny That Could Change Your Life
In today’s world of credit cards and mobile payments, it’s easy to ignore small change. But coins like the Lincoln Wheat Penny are a powerful reminder that even something as ordinary as a penny can hold extraordinary value.
So the next time you’re digging through a coin jar, sorting through old drawers, or getting change back from the store—take a closer look. You might be holding a tiny piece of history worth hundreds of thousands of dollars.