Imagine finding a humble penny in your pocket, only to discover it’s worth nearly half a million dollars. It might sound unbelievable, but for collectors and lucky treasure hunters, this dream could come true. A rare 1943 Lincoln Wheat Penny, mistakenly struck in bronze instead of steel, is valued at up to $500,000—and experts believe a few could still be hiding in circulation today.
Why the 1943 Lincoln Wheat Penny Is So Valuable
The Lincoln Wheat Penny, minted from 1909 to 1958, was designed by Victor D. Brenner and featured President Abraham Lincoln on the obverse and two wheat stalks on the reverse. While most Wheat Pennies are only worth a few cents to a few dollars, certain rare versions are worth a fortune.
In 1943, during World War II, the U.S. Mint switched from copper to steel to conserve copper for wartime production. Nearly all pennies that year were made of zinc-coated steel, giving them a silvery appearance. However, a small number of 1943 pennies were accidentally struck on leftover bronze (copper) planchets. These few coins became one of the rarest and most valuable coins in U.S. history.
Today, fewer than 20 of these 1943 bronze Lincoln Wheat Pennies are known to exist. One sold at auction for over $500,000—and some experts believe a few may still be unknowingly circulating in jars, drawers, and loose change.
How to Identify a 1943 Bronze Lincoln Wheat Penny
If you’re hunting for this rare penny, here’s what to look for:
| Feature | What to Check |
|---|---|
| Color | Brown or copper (instead of silver/gray) |
| Magnet Test | Should not stick to a magnet (steel does) |
| Weight | Around 3.11 grams (steel weighs 2.7g) |
A genuine 1943 bronze penny will have the familiar copper color and feel. If it passes the magnet and weight tests, it could be the real deal.
Where to Sell a Rare 1943 Lincoln Wheat Penny
If you think you’ve found one of these rare pennies, the first step is to get it authenticated. Trusted coin grading and authentication services include:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Company)
These services will verify the coin’s authenticity and provide an official grade, which can significantly impact its value.
Once authenticated, you can sell your penny through:
- Major coin auction houses (like Heritage Auctions, Stack’s Bowers)
- Private sales to high-end collectors
- Reputable coin dealers specializing in rare coins
Auction houses often achieve the highest prices, especially for coins of this rarity. Keep in mind that commissions and fees apply.
Could This Rare Penny Still Be in Circulation?
Surprisingly, yes. Experts believe some of these pennies are still out there, overlooked in old collections, forgotten coin jars, or even mixed in everyday change. Many people discard or ignore old pennies without checking for rare dates or minting errors.
Taking a closer look at your loose change, or requesting coin rolls from the bank, could turn into an unexpectedly valuable discovery.
Finding a $500,000 penny might seem like winning the lottery, but stories like the 1943 bronze Lincoln Wheat Penny show that hidden treasures really can be hiding in plain sight. With fewer than 20 confirmed examples known, it’s always worth checking your change—because the next one could be waiting for you.
FAQs
How much is a 1943 steel penny worth?
Most 1943 steel pennies are worth only a few cents to a few dollars, depending on condition.
How can I tell if my 1943 penny is bronze or steel?
Check the color (copper vs. silver), test with a magnet (steel sticks, bronze doesn’t), and weigh it (bronze is about 3.11 grams).
Where should I sell a rare coin?
Use professional coin auction houses, reputable rare coin dealers, or sell privately to collectors after authentication.
Can a regular coin dealer appraise my 1943 penny?
Local dealers may offer opinions, but official authentication from PCGS or NGC is recommended for valuable coins.
Are there other valuable Lincoln Wheat Pennies?
Yes! Some 1909-S VDB and 1914-D pennies are also highly valuable to collectors.
