Many of us pay little attention to the pennies we collect in our wallets or toss into jars. However, there’s one penny—the Lincoln Wheat Penny—that has captured the attention of collectors worldwide. Believe it or not, a rare version of this humble coin has fetched up to $800,000 at auction. That’s right—what looks like just another cent could actually be a valuable relic. Even more intriguing, some of these rare coins might still be hiding in plain sight today.
The particular penny that holds this extraordinary value is the 1943 Bronze Lincoln Wheat Penny, born from a unique minting mistake during wartime. These pennies were once used in everyday purchases, but now they’re among the rarest and most prized coins ever produced. Let’s take a closer look at how this coin came into existence, why it’s worth so much, and how you can check if you have one in your possession.
What Makes the 1943 Bronze Wheat Penny So Special?
During the year 1943, the U.S. Mint made a temporary change in how pennies were produced. Due to World War II, copper was needed for military supplies, so the Mint began using zinc-coated steel to conserve the metal. However, in a rare and unintended error, some leftover copper planchets—blank discs used for minting coins—were mistakenly fed into the coin presses.
This slip-up resulted in the creation of a handful of bronze 1943 Lincoln pennies. These error coins made their way into circulation unnoticed, only to become iconic among numismatists decades later. Known as a wrong planchet error, this particular mistake has gone down in U.S. coin history as one of the most fascinating. Today, fewer than two dozen verified pieces are known to exist. One of these specimens sold at auction for a jaw-dropping $840,000, cementing its place as a treasure among Lincoln cent collectors.
Why This Coin Reached an $800,000 Price Tag
Several factors explain why this penny has reached such astronomical values. First, its scarcity is undeniable. Only a very limited number were accidentally created, and surviving coins are even fewer—especially those in pristine condition. Their rarity alone drives up the value dramatically.
Second, the historical context of this coin adds weight to its story. Originating from a time when America was deeply involved in World War II, the coin carries a unique narrative of the nation’s effort to preserve resources. Coins with such meaningful backstories tend to hold a special appeal for collectors.
Third, it’s a minting error, and such errors are always of interest in the collecting world. The more dramatic or rare the mistake, the higher the value, and the 1943 bronze cent is one of the most dramatic known. Finally, condition matters greatly. Coins that are graded MS-64 or higher—meaning they show almost no signs of wear—can sell for top dollar, making even a single coin worth hundreds of thousands.
How to Identify a Potential $800,000 Penny
You don’t have to be a professional numismatist to do a preliminary check for this rare coin. Start by examining the date—it must say 1943. Next, look at the color. Standard 1943 pennies were made of steel and appear silver-gray. The valuable bronze version, however, will have a reddish-brown or coppery tone like pennies minted before 1943.
Try the magnet test. Steel pennies are attracted to magnets, but bronze ones are not. A non-magnetic 1943 penny could be a promising sign. You can also check the weight. Steel versions weigh about 2.7 grams, while bronze pennies come in at approximately 3.11 grams. Finally, check for a mint mark located under the date. A “D” stands for Denver, an “S” means San Francisco, and no letter indicates it was minted in Philadelphia.
If your 1943 penny passes these checks and especially if it’s copper-colored and not magnetic, don’t spend it. Instead, have it professionally examined immediately.
Beware of Counterfeit Coins
Due to the fame and value of the 1943 Bronze Lincoln Penny, it has become a popular target for counterfeiters. Many fakes involve coating a standard steel penny with copper to mimic the appearance of bronze. Others involve altering the date of a different coin—most commonly changing a 1948 to appear like a 1943, since the numbers are visually similar.
While these counterfeits can be quite convincing, basic tests can reveal the truth. For instance, if a coin is magnetic or weighs too little, it’s likely a fake. Still, some imitations are so sophisticated that the only way to be certain is to send your coin to an established third-party grading service. The Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Company (NGC) are two of the most trusted names in the industry and can verify and appraise your coin accurately.
Still in Circulation – Fact or Myth?
Believe it or not, some of these incredibly rare coins have indeed surfaced in everyday situations. Although they are exceedingly uncommon, a few lucky individuals have found these pennies in change, old collections, and even forgotten boxes in the attic. There’s even a story of a young boy who found one decades ago and ended up selling it for a life-changing amount of money.
While finding one today is like winning a small lottery, it’s not entirely impossible. That’s why hobbyists, collectors, and even casual observers still keep an eye on their pocket change. The potential reward is too great to ignore, and the idea that one could be lying unnoticed in a coin jar makes the hunt even more thrilling.
FAQs
Q1: How many 1943 Bronze Lincoln Pennies exist today?
Currently, fewer than 20 confirmed examples are known, though there may be others that remain undiscovered in private hands or old collections.
Q2: Are all 1943 pennies valuable?
No, the vast majority were made of steel and have little numismatic value—typically worth between 10 and 50 cents. Only the rare bronze versions command high prices.
Q3: What is the best way to verify a rare coin?
For the most reliable results, submit your coin to a reputable grading and authentication service like PCGS or NGC. These professionals use advanced tools and expertise to confirm a coin’s identity and value.
Q4: Can I still find one in circulation?
Yes, though the chances are extremely low. A few have appeared this way in the past, which fuels hope among collectors that more may still be out there waiting to be found.
Conclusion
The $800,000 Lincoln Wheat Penny tells a story of chance, history, and hidden value. Once just another coin used in everyday commerce, it now stands as one of the most coveted coins in U.S. history. Though most 1943 pennies are common steel variants, the elusive bronze edition is the one that excites collectors and investors alike.
Next time you come across a 1943 penny, give it a second glance. Test its magnetic response, study its hue, and check its weight. If you’re lucky enough to find a genuine bronze version, you might just be holding one of the rarest—and most valuable—coins still in existence. It could be sitting quietly in your change jar, waiting to be discovered.
