Ever wonder if that old penny in your pocket could be worth a fortune? Believe it or not, some Lincoln Wheat Pennies—those old copper coins—have sold for millions. One rare penny is worth a crazy $8.7 million! And yes, it might still be out there in someone’s change jar.
A Quick Look at the Penny’s Past
The Lincoln Wheat Penny was first made in 1909 to honor President Abraham Lincoln’s 100th birthday. It was also the first U.S. coin to feature a real person instead of a symbol.
The front (obverse) shows Lincoln’s face, designed by Victor David Brenner. The back (reverse) has two wheat stalks, which is why it’s called the “Wheat Penny.” These pennies were made until 1958. After that, the U.S. Mint changed the design to the Lincoln Memorial.
Why Are Some Pennies So Valuable?
Most wheat pennies are only worth 1 or 2 cents. But a few rare ones—usually because of mistakes during minting—are super valuable.
That $8.7 million penny? It’s a 1943 Lincoln penny that was supposed to be made from steel (because copper was needed for the war). But a few were made with bronze by accident. Those rare mistakes are worth big money!
Rare Lincoln Wheat Pennies to Look For
| Year | Mint Mark | What’s Special | Estimated Value |
|---|---|---|---|
| 1909-S VDB | S | Designer’s initials on the back | $1,000 – $60,000+ |
| 1943 | No/D/S | Made of bronze instead of steel | Up to $8.7 million |
| 1955 | No/D/S | Doubled letters on the front | $1,000 – $125,000+ |
What Makes the $8.7M Penny So Special?
In 1943, the U.S. Mint made pennies from steel to save copper for World War II. But by mistake, a few pennies were made using leftover bronze from 1942.
These rare bronze pennies are not only super rare—they’re also a collector’s dream.
The 1955 “Doubled Die” penny is another cool find. It looks like it was printed twice. The words “LIBERTY” and the date have a shadow-like double image.
How to Check Your Pennies
Start by looking at the year and mint mark under the date. Here’s what the letters mean:
- D = Denver
- S = San Francisco
- No letter = Philadelphia
Now, check for anything strange—like doubled letters, weird spacing, or an odd design on Lincoln’s face.
How to Test a 1943 Penny
Want to know if your 1943 penny is the rare bronze one? Try this:
- Magnet Test: Steel sticks to a magnet. Bronze does not.
- Weigh it: A bronze penny weighs about 3.11 grams. A steel one weighs 2.7 grams.
| Material | Weight | Magnetic? |
|---|---|---|
| Steel | 2.7 grams | Yes |
| Bronze | 3.11 grams | No |
If your 1943 penny is non-magnetic and weighs around 3.11 grams, you might be holding something very special.
Are Rare Pennies Still Out There?
Yes! Even today, some rare Lincoln Wheat Pennies may still be in circulation. With billions of coins out there, it’s not impossible to find one.
Some collectors buy rolls of pennies from banks and search through them. Sometimes, they actually find these hidden treasures.
Think You Found a Rare Penny?
Here’s what to do:
- Don’t clean it! Cleaning can ruin its value.
- Use a magnifying glass to check details.
- Test the weight and magnetism.
- Visit a coin dealer or submit it to a grading service.
You can send it to PCGS or NGC—these are trusted companies that check and certify coins.
Why the Hunt Is So Fun
There’s something exciting about the idea that a multi-million-dollar penny could be hiding in your pocket change. That’s what makes collecting coins so fun—every coin has a story, and some could change your life.
Final Thoughts
Finding a penny worth $8.7 million sounds like a dream—but it’s real. Mistakes at the mint made a few of these rare coins, and some may still be out there. So next time you get a Wheat Penny, take a closer look. You could be holding history—and maybe even a small fortune!
Disclaimer
This article is for learning purposes only. Rare coins like the $8.7 million Wheat Penny are extremely rare. The real value of any coin depends on its condition and proper certification. Always consult a coin expert before making decisions.
FAQs
What makes the 1943 penny worth $8.7 million?
It was made from bronze by mistake during the war, making it very rare.
How can I check if my 1943 penny is rare?
Use a magnet and weigh it. If it doesn’t stick and weighs about 3.11 grams, it could be rare.
Should I clean an old penny I think is valuable?
No. Cleaning can lower its value.
Where can I get my coin checked?
Send it to PCGS or NGC for grading and authentication.
Can rare pennies still be found today?
Yes, though rare, they sometimes show up in change or bank rolls.
