The Lincoln Wheat Penny is a unique coin in American numismatic history. Produced from 1909 to 1958, the coin is generally worth little, but some of the rarer issues have sold for incredible sums at auction.
The Copper Lincoln Wheat Penny in 1943 is the most unique of this list, with some specimens costing as much as $145 million. Though this statement cannot be completely corroborated, its history and scarceness make this coin highly priceless.
History and Features of Lincoln Wheat Penny
The Lincoln Wheat Penny was released in 1909 for the birth centenary of Abraham Lincoln, who was the 16th President of America. The coin features Abraham Lincoln’s picture on the obverse and two stalks of wheat on the reverse, which are depictions of national prosperity.
The coin was created by Victor David Brenner and was the first U.S. coin ever to bear a real individual’s likeness on it. The coin was mostly copper and was produced at several branch facilities of the U.S. Mint.
1943 Copper Penny: The Rarest Coin
During World War II, the U.S. government required additional copper for war equipment. Because of this, the 1943 Lincoln Wheat Penny was produced using zinc-coated steel rather than copper. But some old copper blanks were mistakenly used in the 1943 mint and this resulted in some rare duplicates of the 1943 Copper Lincoln Wheat Penny.
Many of these error coins have brought enormous sums of money at auction and are one of the most valuable minting errors in the history of U.S. currency.
Has a coin ever actually been sold for $145 million?
There were rumors in recent times that a Lincoln Wheat Penny had been sold for $145 million, but that is not backed up by anything.
The record auction price was for a 1943-D Bronze (Copper) Wheat Penny, which sold for around $840,000. Although this is enormous, it is far short of the $145 million alleged.
How is the value of a coin determined?
Coins’ worth relies on a number of things:
Rarity: If few copies of a coin are produced or there is a unique error in it, then its cost can be high.
Condition: The coin with more shine and structure will cost more.
Historical Significance: If a coin is related to a historical event, its value is enhanced.
Market Demand: If the demand for a specific coin is high among collectors, its cost will also be high.
Some Notable Lincoln Wheat Penny Auction Records
The following table provides the auction prices of some rare Lincoln Wheat Pennies:
| Year | Coin Type | Auction Price |
|---|---|---|
| 1943 | 1943-D Bronze Cent | $840,000 |
| 1943 | 1943-S Bronze Cent | $504,000 |
| 1944 | 1944-S Steel Cent | $373,750 |
| 1943 | 1943 Bronze Cent (Philadelphia) | $372,000 |
| 1943 | 1943 Bronze Lincoln Cent | $348,000 |
How to Identify a Rare Lincoln Wheat Penny?
If you collect coins or are curious to learn about a coin’s worth, take notice of the below versions:
- 1909-S VDB: Carries the designer’s initials of Victor David Brenner (VDB) and was produced with a low number.
- 1914-D: Made in limited quantity by the Denver Mint.
- 1922 No-D: Accidentally produced by the Philadelphia Mint without the “D” mint mark.
- 1955 Doubled Die Obverse: It features a doubled image of the date and words.
Conclusion
While the tale of the $145 million Lincoln Wheat Penny has not yet been verified, the 1943 Copper Lincoln Wheat Penny is among the rarest U.S. coins ever struck.
Coin collectors must refer to authentic auction records and expert opinion prior to assessing a coin. If you have a rare Lincoln Wheat Penny, it may be worth millions of dollars!
The excitement of finding and collecting such rare coins is a testament to the eternal interest in American currency by collectors.
FAQs
Q1. Why is the 1943 Lincoln Wheat Penny valuable?
The 1943 Lincoln Wheat Penny is valuable because a few rare copies were mistakenly minted in copper instead of steel, making them highly sought after by collectors.
Q2. Is the 1943 copper penny really worth $145 million?
No, there is no verified sale of a 1943 copper penny for $145 million. The highest recorded auction price for one was around $840,000.
Q3. How can I tell if my 1943 penny is valuable?
Check the material—if it sticks to a magnet, it is a common steel penny. If it does not, it could be a rare copper version. You should also have it authenticated by a coin expert.
Q4. What are other rare Lincoln Wheat Pennies?
Some other valuable Lincoln Wheat Pennies include the 1909-S VDB, 1914-D, 1922 No-D, and the 1955 Doubled Die Obverse.
Q5. Where can I sell a rare Lincoln Wheat Penny?
You can sell a rare Lincoln Wheat Penny at coin auctions, online marketplaces (like eBay or Heritage Auctions), or through professional coin dealers.