A Penny Worth Millions? It’s Not a Myth
At first glance, a penny might not seem valuable. But in the world of rare coins, a single cent could be worth millions. The 1943 copper Lincoln Wheat Penny is one of the most famous and valuable error coins in American history. Incredibly, one of these pennies sold at auction for $18.9 million, making it the most expensive penny ever recorded.
Here’s everything you need to know about this iconic coin—and how you might spot one in your own collection or spare change.
Why Is the 1943 Copper Penny So Valuable?
During World War II, the U.S. Mint transitioned to zinc-coated steel pennies in 1943 to conserve copper for wartime needs. However, a few leftover copper planchets from 1942 mistakenly entered the minting presses. As a result, a tiny number of 1943 Lincoln Wheat Pennies were struck in copper, creating an extremely rare and highly coveted error coin.
Only about 20 genuine examples of the 1943 copper penny are known to exist today. The one that fetched $18.9 million was in exceptional condition, making it a standout among even this rare group.
How to Identify a 1943 Copper Lincoln Wheat Penny
Think you might have a valuable coin in your collection? Use these quick steps to determine whether it could be one of the legendary 1943 copper pennies:
1. Check the Date
Make sure the penny is dated 1943—this is critical.
2. Examine the Color
Steel pennies appear silver or gray, while copper versions are reddish-brown.
3. Try the Magnet Test
Steel is magnetic. If your 1943 penny sticks to a magnet, it’s steel—not copper. A non-magnetic 1943 penny is a good sign.
4. Weigh the Coin
Copper penny: approx. 3.11 grams
Steel penny: approx. 2.7 grams
Use a digital scale to measure it accurately.
5. Look for the Mint Mark
No mint mark: Philadelphia Mint
“D”: Denver Mint
“S”: San Francisco Mint
Any of these can appear on a 1943 copper penny, though Philadelphia strikes are most common.
Other Valuable Lincoln Wheat Pennies to Watch For
While the 1943 copper penny is the superstar, several other Lincoln Wheat Pennies are worth serious money. Here are some standout examples:
| Year | Mint Mark | Estimated Value | Why It’s Valuable |
|---|---|---|---|
| 1909-S VDB | San Francisco | $700–$4,000+ | First year with designer’s initials; very low mintage |
| 1914-D | Denver | $200–$3,000+ | Rare year with low mintage |
| 1922 No D | Denver | $500–$10,000+ | Mint mark error—missing “D” |
| 1955 Doubled Die | Philadelphia | $1,000–$15,000+ | Major double die error on the front |
| 1944 Steel | Any Mint | $10,000–$100,000+ | Steel planchet mistakenly used post-1943 |
Where You Might Find a Rare Penny
Surprisingly, these rare coins still pop up from time to time. Here’s where collectors and treasure hunters often find them:
Coin rolls from banks (especially older rolls)
Loose change in pockets or jars
Estate sales, flea markets, and garage sales
Old coin collections passed down in families
Always check older pennies before tossing them aside—you never know what hidden gem might be lurking.
Think You Found a Rare Penny? Here’s What to Do
If you suspect you’ve discovered a 1943 copper penny or another valuable Lincoln Wheat variety, follow these steps:
Use a magnet to rule out steel.
Weigh the coin to confirm the metal content.
Examine the details for mint errors or unique features.
Do not clean the coin. Cleaning can dramatically reduce its value.
Consult a professional: Reach out to a reputable coin dealer or submit the coin to grading services like PCGS or NGC for authentication.
Once confirmed, you can decide whether to sell it at auction or hold onto it as a long-term investment.
Final Thoughts: Don’t Dismiss Your Pennies
The 1943 copper Lincoln Wheat Penny isn’t just a coin—it’s a rare piece of American history. While it’s rare to stumble across one in everyday change, it’s not impossible. With a little knowledge and a sharp eye, you might just uncover a penny worth thousands—or even millions—sitting unnoticed in your jar of spare change.
So next time you’re handed a handful of coins, take a second look. That humble penny could be your lucky day.
