Imagine finding a penny in your pocket that’s actually worth $12.7 million. Sounds unbelievable, right? But it really happened with a rare coin called the Lincoln Wheat Penny. Most people don’t know that this small coin could actually be a hidden treasure.
In this post, we’ll talk about why this penny is so special, how to spot a rare one, and why people are still looking for it today. Let’s get started.
Lincoln Wheat Penny
The Lincoln Wheat Penny, also known as the Wheat Cent, is a one-cent coin that was made in the U.S. from 1909 to 1958. It has a picture of Abraham Lincoln on the front and two wheat stalks on the back. That’s where it gets its name.
It was the first American coin to feature a real person and was made to celebrate Lincoln’s 100th birthday. Most of these pennies are only worth a few cents, but a few rare ones are worth thousands or even millions of dollars.
1943 Bronze Wheat Penny is So Special
In 1943, during World War II, the U.S. Mint used steel instead of copper to make pennies. Copper was needed for war supplies. These became known as steel pennies.
But by mistake, a few bronze coins were made that year. Only about 20 of these rare bronze pennies from 1943 exist today. That’s why they are so valuable.
One of these coins, made at the Denver Mint, is believed to be worth as much as $12.7 million today. It’s one of the rarest coins in U.S. history.
Pennies Are Worth So Much
These pennies are worth a lot because they are extremely rare. Only a small number of them were made, and even fewer are still around today.
They also have a strong connection to history. Since they were made during World War II, they carry a special meaning. Also, the condition of the coin matters. A shiny, clean-looking coin with no damage is worth much more than a worn-out one.
Real-Life Treasure Story
In 1947, a teenager named Don Lutes Jr. found a 1943 bronze penny while getting lunch at school. He kept it for the rest of his life, not knowing how rare it was. After he passed away in 2018, the coin was sold for $204,000. The money went to a local library.
Stories like this show that rare coins can still be found today. You never know what might be hiding in your change.
How To Know If You Have a $12.7 Million Penny
First, look at the date. If your penny says 1943, that’s a good start. Then, look under the year for a small letter. If there’s no letter, it was made in Philadelphia. A “D” means Denver, and an “S” means San Francisco. The 1943-D bronze penny is the rarest of all.
Next, try using a magnet. Steel pennies from 1943 will stick to a magnet. Bronze ones won’t. If your 1943 penny doesn’t stick, that’s a good sign.
You should also check the weight. Bronze pennies weigh around 3.11 grams and have a reddish copper color. Steel pennies are lighter and look more silver or gray.
Keep an eye out for any mistakes or strange designs. Some coins have printing errors, and these can also make them more valuable. For the 1943 bronze penny, the main error is that it was made with the wrong material.
If your coin seems rare, don’t try to sell it right away. Take it to a professional coin grading service like PCGS or NGC. They can tell you if it’s real and how much it’s worth.
Most Valuable Lincoln Wheat Pennies
| Year | Mint Mark | Type | Value Estimate | Notes |
|---|---|---|---|---|
| 1943 | D | Bronze | Up to $12.7 million | Only 1 known |
| 1943 | S | Bronze | $500K to $2 million | Around 6 known |
| 1943 | None | Bronze | $100K to $1.7 million | About 10–15 known |
| 1944 | S | Steel | $75K to $500K | About 30 known |
| 1909 | S VDB | Low mintage | $700 to $50K | First Lincoln penny |
| 1955 | None | Doubled die | $1K to $25K | Visible double print |
These prices are based on auctions and expert guesses as of 2025.
Where You Can Find These Rare Pennies
You might think all the valuable coins are already found. But many people still discover them in everyday places.
Sometimes rare coins show up in pocket change, especially in small towns. You might find one in an old coin jar or in a piggy bank that hasn’t been touched in years. Inherited coin collections from parents or grandparents can also hide valuable coins.
Some collectors even buy rolls of pennies from banks and search through them. Others find coins at flea markets or garage sales, where sellers don’t know what they have.
A coin expert named Raju Singh says many valuable coins are found by accident. People often don’t know they’re holding something special.
Why People Love Collecting Wheat Pennies
Coin collecting is more than just finding something valuable. It’s a fun hobby that teaches you about history and makes you feel like a treasure hunter.
Wheat pennies are easy to start with because many of them are cheap. You can find lots of them for just a few cents. As you collect, you learn about U.S. history, old money, and interesting facts.
There are also online groups and local clubs where people talk about their coin finds and give tips to each other.
What To Do If You Find a Rare Penny
If you think you’ve found a valuable penny, don’t clean it. Cleaning can scratch the surface and lower its value.
Keep it in a safe place, like a coin holder or soft pouch. Get it checked by a professional grading service. They’ll confirm if it’s real and tell you what condition it’s in.
When you’re ready to sell, work with a trusted coin dealer or an auction house like Heritage Auctions. Don’t rush to sell it online without knowing its true value.
Always look up recent auction prices so you know what similar coins are worth. A rare penny in good condition can be worth much more than you think.
FAQs
How do I know if my 1943 penny is bronze?
Use a magnet. If it doesn’t stick and is copper-colored, it could be bronze.
Are all Wheat Pennies valuable?
No, only certain years or error coins are worth a lot.
Where can I sell a rare penny?
Go to a trusted coin dealer or auction house.
Is the $12.7 million penny real?
Yes, experts believe it’s worth that much, though it hasn’t sold yet.
Can I find a rare penny in change?
Yes, it’s rare but still possible today.
