The Lincoln Wheat Penny, minted from 1909 to 1958, is a cherished piece among numismatists. While many of these coins are common, certain rare variants have fetched impressive sums at auctions.
However, claims of a Lincoln Wheat Penny valued at $5 million are unsubstantiated. The most valuable known example, the 1943-D Bronze Cent, sold for $840,000 in 2021.
Understanding the Lincoln Wheat Penny
Introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny features Lincoln’s profile on the obverse and two wheat stalks on the reverse.
Designed by Victor David Brenner, this coin was the first U.S. currency to depict a president’s image.
The 1943 Bronze Cent: A Collector’s Treasure
During World War II, to conserve copper for military purposes, the U.S. Mint produced pennies from zinc-coated steel in 1943.
However, a few bronze planchets from the previous year were mistakenly used, resulting in the rare 1943 Bronze Cents. These coins are highly sought after due to their scarcity and historical significance.
Notable Sales of 1943 Bronze Cents
| Year | Mint Mark | Sale Price | Auction Year |
|---|---|---|---|
| 1943 | D | $840,000 | 2021 |
| 1943 | S | $504,000 | 2021 |
Values are approximate and can vary based on coin condition and market demand.
Identifying a 1943 Bronze Lincoln Wheat Penny
To determine if you possess one of these rare coins:
- Material Test: A 1943 Bronze Cent will not stick to a magnet, unlike its steel counterparts.
- Weight Check: The bronze version weighs approximately 3.11 grams, whereas the steel penny weighs about 2.7 grams.
- Mint Mark: Examine the area below the date for mint marks: “D” for Denver, “S” for San Francisco, and no mark for Philadelphia.
Other Valuable Lincoln Wheat Pennies
While the 1943 Bronze Cent is among the most famous, other rare Lincoln Wheat Pennies have also garnered significant attention:
- 1909-S VDB: The inaugural year of the Lincoln Cent saw a limited mintage with the designer’s initials, making it highly desirable.
- 1914-D: With a low mintage from the Denver Mint, this coin is a key date for collectors.
- 1955 Doubled Die: A notable minting error resulted in a doubled image, increasing its value.
Preserving and Evaluating Your Coins
If you believe you have a valuable Lincoln Wheat Penny:
- Handle with Care: Hold coins by the edges to prevent oils from your skin from causing damage.
- Professional Appraisal: Seek evaluation from reputable grading services like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC) to determine authenticity and condition.
While tales of a $5 million Lincoln Wheat Penny are more myth than reality, certain rare variants, particularly the 1943 Bronze Cents, have achieved remarkable auction prices. Collectors should remain vigilant, as these valuable coins could still be hidden in plain sight.
FAQs
Is there a Lincoln Wheat Penny worth $5 million?
No known Lincoln Wheat Penny has reached a $5 million valuation. The highest recorded sale is $840,000 for a 1943-D Bronze Cent.
How can I tell if my 1943 penny is valuable?
A valuable 1943 penny will be made of bronze, not steel. It won’t stick to a magnet and will weigh approximately 3.11 grams.
Are there other valuable Lincoln Wheat Pennies?
Yes, coins like the 1909-S VDB, 1914-D, and the 1955 Doubled Die are also highly sought after by collectors.