Often we keep 1 cent Lincoln coins anywhere without thinking or put them in a corner of the house if we find them in the shop with leftover money. But do you know that some very rare pennies can change your luck today? Yes, when a simple looking coin reaches the right time and in the right hands, its value can go from lakhs to crores.
In this article, we will tell you about some such American one-cent coins which look common, but anyone can be shocked to hear their price. In particular, we will talk about that 1943 Bronze Lincoln Penny which was auctioned for more than 2 lakh dollars. Let’s know in detail.
The story of the 1943 Bronze Lincoln Penny
The story of this rare coin begins with a person named Don Lutes. In 1947, when he was just 16 years old, he got this coin in the leftover money from his high school canteen. At that time it looked like a common coin, but in reality this coin was very rare.
Don Loots kept this coin safe till his death in 2018. When his health started deteriorating, he handed it over to Heritage Auctions. This coin was auctioned in 2019 and it was sold for about $ 204,000 i.e. about Rs 1.7 crore. Whatever amount came from the auction was donated to the Berkshire Athenaeum located in Pittsfield, Massachusetts, his city.
Why is this coin so special?
Actually in the year 1943, America started using steel instead of bronze to make pennies to save copper during the Second World War. But some old bronze plates were accidentally saved in the mint and some coins were made from them which later reached the public. These coins are considered rare and valuable today.
There are only about 15 to 20 such coins, and some may still be hidden in people’s pockets or closets. If you have a 1943 penny that looks like copper, you might want to check it out. The Mint says a real copper coin will not stick to a magnet, while a fake steel one will.
Other valuable pennies that can make you rich:
1969-S Doubled Die Obverse
This penny is special because a mistake was made during printing. When the mint stamped the die a second time, a slight error occurred, causing a double impression in the letters. This is especially evident in the words “LIBERTY” and “IN GOD WE TRUST”.
Another way to identify this coin is that it has the letter ‘S’ below 1969, which indicates that it was made at the San Francisco Mint. The number of such coins is very less, perhaps less than 1000. A coin in good condition can sell for up to $ 75,000. In 2023, a coin was sold for $ 35,000.
1992 Close AM Reverse
The specialty of this penny is that there is no gap between the ‘A’ and ‘M’ of the word ‘AMERICA’ on its back, they look connected. Usually there is a little distance between those letters.
What actually happened was that in 1992, the proof quality die was used by mistake instead of the die that was to be used for circulation coins. Due to this, about 2.5 lakh coins were printed like this.
Although these are not as rare as the 1969-S Doubled Die, they are still very valuable. A 1992 Close AM penny in good condition can sell for up to $20,000, while a used coin can sell for $2,000 to $3,000.
1972 Doubled Die Obverse
This coin is also an example of a doubled die error. It shows double letters in the words “LIBERTY” and “IN GOD WE TRUST”, as well as a slight double impression in the date.
The special thing about this coin is that it has reached the general public in large numbers. It is estimated that 2.5 lakh such coins were issued. Many people have even found them in their pocket change.
A coin in good condition can sell for up to $100, while a clean coin can go for up to $500.
Do you have any valuable pennies?
If you treasure old coins, it’s time to take a closer look at them. Your piggy bank, old purse, or closet drawer may hold a rare penny worth thousands or even millions of dollars.
Every year, organizations like Heritage Auctions hold rare coin auctions, and attending or improving your knowledge can be very rewarding.
A final word
We often overlook smaller coins, but some can actually change your fortune. From the 1943 Bronze Lincoln Penny to the 1992 Close AM, every coin tells a story. So the next time you find an old penny, take a closer look. It may be the most valuable coin of your life.
FAQs
Q1. Is there really a Lincoln Wheat Penny worth $200 million?
A1. While it sounds unbelievable, extremely rare error coins or one-of-a-kind specimens can fetch astronomical prices at auctions. However, $200 million is likely a speculative or exaggerated value, unless the coin has historic or unique minting characteristics.
Q2. What makes a Lincoln Wheat Penny so valuable?
A2. Its value depends on factors like rarity, minting errors, date, condition, and collector demand. Pennies from rare years like 1909-S VDB or 1943 copper versions are especially valuable.
Q3. How can I identify a valuable Wheat Penny?
A3. Look for key dates (1909-S VDB, 1914-D, 1943 copper), mint marks, and any unusual features like double dies, off-center strikes, or wrong metal usage.
Q4. Are valuable Lincoln Wheat Pennies still in circulation?
A4. Yes, some rare Wheat Pennies still occasionally surface in circulation, estate sales, or coin jars. It’s rare but possible.
Q5. What should I do if I think I’ve found a rare penny?
A5. Don’t clean the coin. Store it safely and consult a professional coin appraiser or a reputable numismatist for evaluation.
