Imagine finding an old penny in your drawer and later discovering it is worth more than 700,000 dollars. Sounds unbelievable, right? But in the world of coin collecting, this is a reality. Some rare coins, especially the Lincoln Wheat Penny, have turned out to be life-changing discoveries for those lucky enough to find them.
This small copper coin, which was once just another piece of everyday change, has now become one of the most valuable coins in history. Let us explore why this coin is worth so much, how it came into existence, and how you can check if you have one hidden somewhere.
Lincoln Wheat Penny Valued at $700K
The Lincoln Wheat Penny first appeared in 1909 to honor the 100th birth anniversary of President Abraham Lincoln. It was the first U.S. coin to feature a real person. The front of the penny shows Lincoln’s profile, while the back displays two wheat stalks, symbolizing America’s agricultural prosperity.
One of the most valuable Lincoln Wheat Pennies is the rare 1943 copper penny. During World War II, the U.S. Mint switched to steel for pennies because copper was needed for wartime ammunition. However, a few copper blanks from 1942 were accidentally used in 1943, creating the rare copper pennies. These coins are now among the most valuable in the world, with some selling for more than 700,000 dollars at auctions.
Why is This Coin So Expensive?
The 1943 copper penny is valuable because of its extreme rarity. Experts estimate that only around twenty exist today. Their unique history, combined with the accidental minting during wartime, makes them highly desirable for collectors. Some have even sold for more than 800,000 dollars at auctions.
How to Identify a Rare Lincoln Wheat Penny
If you think you might have a valuable penny, here’s how to identify it:
- Check the date: The most valuable ones are from 1943 and should be copper-colored.
- Weigh the coin: A genuine 1943 copper penny weighs 3.11 grams, while a steel penny weighs about 2.7 grams.
- Use a magnet: Steel pennies are magnetic, but copper ones are not.
Authenticity Matters
If you believe you have found a rare Lincoln Wheat Penny, it is essential to get it authenticated. Professional services like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC) will verify its authenticity and market value.
Other Valuable Lincoln Pennies
Apart from the famous 1943 copper penny, several other Lincoln Wheat Pennies are worth a significant amount. Here are a few examples:
- 1909-S VDB Penny: One of the first Lincoln pennies, it features the designer’s initials, “VDB,” and is very rare.
- 1955 Doubled Die Penny: This coin has a striking error, where the text on the coin appears doubled, making it highly collectible.
- 1922 “No D” Penny: Due to a minting mistake, some pennies from 1922 were produced without a mint mark, making them rare and valuable.
How to Protect Valuable Coins
If you are lucky enough to find a valuable Lincoln Wheat Penny, it is important to take proper care of it. Here are a few tips:
- Do not clean the coin: Cleaning can damage its surface and reduce its value. It is best to leave it in its natural condition.
- Store it properly: Use coin holders or protective cases to keep the coin safe from moisture and dust.
- Handle with care: Always hold a coin by its edges to avoid leaving fingerprints or causing scratches.
The Excitement of Coin Collecting
Coin collecting is an exciting hobby that connects people with history and the thrill of discovery. Even if you don’t find a 700,000-dollar penny, searching through old coins can still be a fun experience.
Final Thoughts
The Lincoln Wheat Penny is a perfect example of how something small and ordinary can turn out to be extraordinary. Whether you are a collector or just someone curious about rare coins, it is always worth checking your old change. Who knows? You might just have a fortune waiting to be discovered!