A coin worth nearly $10 million still floating around in pocket change? It sounds unbelievable, but the Lincoln Wheat Penny—once a common sight in everyday transactions—is now drawing attention for just that reason. One particular version of this iconic coin has been valued at a staggering $9.99 million, and shockingly, a few might still be hiding in circulation today. For coin collectors, hobbyists, or just curious savers, now is the time to start paying close attention to your change.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 and continued until 1958. It was the first U.S. coin to feature a real person—President Abraham Lincoln—on the obverse, with two stylized wheat stalks framing the reverse. These coins were composed primarily of copper, though the 1943 version made headlines for being struck in steel due to wartime material shortages.
Though they were once everyday currency, Lincoln Wheat Pennies have since become collector’s favorites due to their classic design, historical significance, and—in some cases—rarity.
Why Some Pennies Are Worth a Fortune
While most Wheat Pennies are worth only a few cents to a few dollars, certain varieties fetch tens of thousands, even millions. The highest-valued examples typically share one or more of the following traits:
| Rarity Factor | Description |
|---|---|
| Mintage Error | Mistakes like double strikes or missing mint marks increase collector value |
| Low Mintage | Coins minted in smaller quantities, like the 1909-S VDB |
| Wrong Metal | For example, a 1943 copper penny instead of steel—only a few exist |
| Condition | Coins in uncirculated or near-mint condition are valued higher |
Most Valuable Lincoln Wheat Pennies to Look For
Some of the top contenders include:
- 1909-S VDB – One of the first Lincoln pennies; rare and highly collectible.
- 1914-D – Low production numbers make this Denver mint penny valuable.
- 1922 (No D) – A Denver mint issue with a missing mint mark.
- 1943 Copper Penny – The holy grail; most were steel, so copper ones are extremely rare.
If you happen to find a 1943 penny that looks copper-colored, do not ignore it—it could potentially be worth over $1 million.
Why These Coins Might Still Be in Circulation
It may seem implausible that million-dollar coins are still being used in everyday transactions, but it happens. Many people are unaware of the value of these older coins. Some have been stashed away in jars, passed down through generations, or even deposited back into the banking system. That’s why a few rare Wheat Pennies are still occasionally found in circulation.
How to Check If Your Penny Is Valuable
Want to know if your penny could be worth big bucks? Here’s a quick checklist:
- Check the Date: Only Lincoln Wheat Pennies dated between 1909–1958 qualify.
- Inspect for Mint Marks: Rare ones like “S” (San Francisco) or “D” (Denver) can add value.
- Look for Errors: Misprints, double dates, or missing letters are valuable quirks.
- Weigh the Coin: A 1943 copper penny should weigh about 3.11 grams—not the 2.7 grams of a steel one.
- Get a Professional Opinion: Certified coin graders like PCGS or NGC can verify authenticity and grade.
5 Tips to Safely Clean Your Pennies Without Reducing Value
Cleaning coins can be risky. In most cases, collectors prefer coins in their natural, unaltered state. But if you do clean them, here’s how to do it without harming the coin’s value:
- Avoid Abrasives – Never use baking soda or rough cloths.
- Use Distilled Water – Gently soak coins to remove surface dirt.
- No Soap – Avoid chemicals or detergents that can damage the coin’s surface.
- Dry Naturally – Let coins air-dry instead of rubbing them.
- When in Doubt, Don’t Clean – Valuable coins should be left alone and graded professionally.
Can You Really Find a Million-Dollar Coin?
Yes—and it has happened. People have discovered rare pennies in old jars, inherited collections, or even as change from a vending machine. The possibility may be slim, but it’s real. And with no cost to look, checking your change might just be the easiest treasure hunt you’ll ever go on.
So next time you grab a handful of pennies from a drawer, give them a second look. You could be holding a historical gem—and possibly a life-changing one.
FAQs
What is a Lincoln Wheat Penny?
It’s a one-cent U.S. coin minted from 1909 to 1958 featuring President Lincoln on the front and wheat ears on the back.
How much is a 1943 copper penny worth?
Depending on condition, it could be worth anywhere from $100,000 to over $1 million.
How can I tell if my 1943 penny is copper or steel?
Use a magnet—steel will stick, copper won’t. Also, weigh it; copper versions are heavier.
Are all Wheat Pennies valuable?
No, but certain rare dates or error coins can be worth thousands or more.
Where can I get my coin appraised?
Visit a certified coin dealer or submit it to grading services like PCGS or NGC.
