A penny in your pocket can amount to millions of dollars.
Many people don’t care much about the penny in their pocket. It is a little copper coin worth only one cent. But do you know that some Lincoln Wheat Pennies are worth as much as $140,000? And the interesting thing is that many such valuable coins might still be in circulation among us, whose actual value is not known to anyone.
Start of an American identity
The Lincoln Wheat Penny was introduced for the first time in 1909. It was a fresh design then, where for the very first time the image of an actual person, President Abraham Lincoln, was inscribed on an American coin. The coins previously bore the symbolic head of Lady Liberty. The reverse of the coin featured two wheat ears, and thus it got the name “Wheat Penny.” This design was employed for around 50 years, i.e., up to 1958. Even now most people recall these coins.
A wartime error rendered this coin invaluable.
The source of the most valuable Lincoln Wheat Pennies is thought to be from a wartime error. In 1943 America required copper for the war, and therefore the government ordered that all the coins of 1943 should be of steel. But incorrectly some of the old 1942 copper blank coins (blanks) were left in the machine and were stamped as 1943. The consequence was that some coins were produced of copper even in 1943, while they should have been of steel. This error makes such coins extremely rare and expensive in the present.
Why are some paise worth thousands of dollars?
The largest cause behind these special prices is its availability in very small quantities. There are thought to be only around 20 original 1943 copper pennies in the entire world. That’s why these coins are very rare and costly. Other than this, the state of the coin also plays a very significant role—if the coin is brand new, polished and scratch-free, then its cost further increases.
How to identify a worthy Lincoln Wheat Penny
If you are in the hopes that you can also own such a precious coin, then remember some things:
- Check the year – The most critical year is 1943.
- Perform a magnet test – If your 1943 coin is attracted to a magnet, then it is steel and regular. If it is not attracted to a magnet, then it is potentially copper.
- Check the weight – If you have a good weighing device, then copper pennies will weigh around 3.11 grams, whereas steel ones weigh around 2.7 grams.
The excitement of discovering coins
The best part of this entire tale is that these valuable coins may still be in circulation. Most folks do not bother to notice their daily change, so it’s conceivable that this irreplaceable coin remains in a person’s piggy bank or forgotten wallet. It’s not easily discoverable—winning the lottery—but it leaves you with the possibility that someday you could come across a great treasure.
What to do if you suspect a coin is special
If you suspect you have a valuable Lincoln Wheat Penny, don’t make the error of cleaning it first—it lowers its value. Then obtain confirmation from a professional, such as
- Professional Coin Grading Service (PCGS)
- Numismatic Guaranty Corporation (NGC)
These groups aid in defining the coin’s authentic identity and value. There are numerous counterfeit coins today, and hence it is best to seek professional advice.
The legacy of Wheat Penny
The story of these valuable coins has attracted many human beings to the hobby of coin amassing. This interest isn’t pretty much cash but additionally approximately the sensation of maintaining records. Every coin tells a tale of its time and connects us to our past.
A simple coin and its value of millions
The Lincoln Wheat Penny, which is valued at $140,000, reminds us that hidden value exists in plain sight. Although none of us will ever come across such a coin, the possibility provokes us to view our loose change differently. These coins are money, but they are also history connected to our own past—which sometimes lies in our own pockets.
Key information
This is for informational purposes only. Coins have varying prices over time and according to their attributes. If you want to sell or purchase an expensive coin, ensure you have it inspected and certified professionally beforehand.
FAQs
What is a Lincoln Wheat Penny?
It’s a U.S. penny minted from 1909 to 1958, featuring Abraham Lincoln and wheat stalks on its design.
What should I do if I think I found a rare penny?
Don’t clean it. Get it evaluated by a professional coin grading or authentication service to confirm its value.
Why is the condition of a penny so important?
Coins in mint or near-mint condition are worth far more than damaged or worn ones to serious collectors.
