Most of us don’t think twice about pennies. They lie forgotten in drawers, car cup holders, or tip jars. But what if one of those small copper coins could actually change your life? It sounds unbelievable, but a rare 1943 Lincoln Wheat Penny made of copper once sold for an astonishing \$7.6 million at auction. That’s right—one single penny, no bigger than your fingernail, could make you richer than winning a lottery scratch-off.
The reason ? A small minting error during World War II turned an ordinary-looking coin into one of the rarest and most valuable pieces of U.S. currency ever created.
A Wartime Mix-Up That Made History
In 1943, the United States was deep in the middle of World War II, and every ounce of copper was needed for military equipment—especially for shell casings and electrical wiring. To save copper, the U.S. Mint decided to produce pennies using steel coated with zinc. These new coins had a silvery appearance and were magnetic, unlike traditional copper coins.
However, a few leftover copper blanks (planchets) from 1942 somehow remained in the minting machines. As a result, a small number of 1943 pennies were struck using copper instead of steel. These mistake coins were released into circulation, unnoticed at the time. But today, they are worth a fortune.
Experts estimate that only 20 to 30 of these rare copper 1943 pennies are known to exist. And every time one surfaces, collectors go wild.
The Origins of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first minted in 1909 to mark the 100th birthday of President Abraham Lincoln. It was the first American coin to feature a real historical figure. Before that, U.S. coins showed symbols like eagles or the image of Lady Liberty.
- The front of the coin (obverse) shows Lincoln’s profile, designed by artist Victor David Brenner.
- The back (reverse) displays two stalks of wheat, giving rise to the nickname “Wheat Penny.”
These coins were minted until 1958, and while most are only worth face value, some rare versions—especially those from specific years or with minting errors—can be worth hundreds, thousands, or even millions.
Why the 1943 Copper Penny Is So Valuable
There are a few key reasons why the 1943 copper penny is so special:
- Extreme Rarity: With only a few dozen known to exist, this coin is truly hard to find.
- Historical Significance: It was minted during one of the most important periods in American and world history.
- Unique Backstory: The fact that it was created by mistake gives it a mystery that collectors love.
Put all these together and you have a coin that creates frenzied bidding at auctions. The most pristine specimens—those that haven’t been damaged or worn—have reached prices above \$1 million, and the record sits at a staggering \$7.6 million.
Is It Possible to Find One Today ?
You might be thinking: “Come on, that’s just collector’s talk.” But the truth is, these rare coins have been found by regular people in the most unexpected ways:
- Inherited coin collections from grandparents.
- Old penny jars stored in attics or basements.
- Estate sales and flea markets.
So yes, the chance is small—but it’s not impossible. If your family has been saving coins for decades, it’s worth taking a closer look.
How to Check If Your Penny Is the Real Deal
Here’s how to see if your penny is a rare 1943 copper version:
- Check the Date: The coin must be marked “1943” on the front.
- Use a Magnet: Steel pennies will stick to a magnet. If yours doesn’t, you might have a copper one.
- Look at the Color: Real copper pennies have a reddish-brown tone, while steel ones are more silver-colored.
- Weigh It: Copper pennies weigh around 3.11 grams. Steel pennies are lighter at about 2.7 grams.
- Get It Authenticated: If you think your coin might be valuable, the next step is to have it graded and certified by a professional service like PCGS or NGC.
A certified coin will not only give you peace of mind but will also fetch a much higher price if you decide to sell it.
Other Valuable Wheat Pennies to Watch For
The 1943 copper penny is the star of the show, but it’s not the only wheat penny worth big money. Here are some other valuable ones:
- 1909-S VDB Penny: The rare first edition from San Francisco with the designer’s initials on the back. Can sell for \$1,000 to \$5,000.
- 1955 Doubled Die Penny: Known for a striking double image on the lettering. These coins can fetch \$1,200 to \$15,000 depending on condition.
- 1922 No D Penny: Made at the Denver mint but missing the “D” mint mark. Value: \$600 to \$3,000.
- 1944 Steel Penny: Similar to the 1943 copper penny but reversed—accidentally struck with leftover steel planchets. Worth up to \$100,000.
Even some common wheat pennies from the 1940s and 1950s can be worth 10 to 20 times their face value if they are in excellent condition or have unusual features.
Getting Started in Coin Collecting
You don’t have to be a millionaire or history expert to get into coin collecting. Here’s how you can start:
- Search Your Own Change: Go through your old coins at home. Check dates and look for mint marks.
- Buy Rolls from the Bank: Some collectors buy rolls of pennies and sort through them for hidden treasures.
- Join a Community: There are lots of online forums, social media groups, and local coin clubs where you can learn more and ask questions.
- Use a Guidebook: A coin value book or website can help you identify what’s valuable.
It’s a hobby that’s part treasure hunt, part history lesson, and part investment opportunity.
What to Do If You Find a Valuable Coin
Think you’ve found something special? Here’s what to do:
- Don’t Clean the Coin: Cleaning can damage the surface and reduce its value.
- Handle It Carefully: Always hold it by the edges and keep it in a soft container or coin flip.
- Have It Graded: Send it to a professional grading company like PCGS or NGC.
- Get an Appraisal: Talk to a professional coin dealer or auction house.
- Sell Through Trusted Channels: Reputable auctions and dealers can help you get the best price.
Remember, even a coin worth \$500 or \$5,000 is a major return on a one-cent investment.
The Hidden Power of Pennies
The story of the 1943 copper penny is more than just about money—it’s about history, chance, and curiosity. It reminds us that even the most ordinary things can have extraordinary stories behind them. So next time you come across an old penny, don’t just ignore it. Take a closer look—you might be holding a piece of American history and a potential fortune.
