This Lincoln Wheat Penny Could be Worth $1.5 Billion – You Might be Holding One

What if you were told that you can hits a fortune just by searching your wallet for a special coin! If you find that, then you will be lucky enough. The Lincoln wheat penny might be rare, but it has attracted collectors worldwide. Even the investors have taken interest. This article will deal more on the Lincoln wheat penny and its types.

History of Lincoln Wheat Penny

The Lincoln wheat penny was first minted and came into circulation in 1909. It was the first coin to have the 16^th U.S. President Abraham Lincoln. It was designed by Victor D. Brenner. It features the image of Lincoln on front, symbolizing his 100^th birthday and two wheat stems at the back, which means continued prosperity. It was minted in Denver, Philadelphia, and San Francisco till 1958.

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The 1943 Lincoln wheat penny was made up of zinc-plated steel. Copper was discontinued at that time so as to use it in World War II machineries. It led to the rare copper Lincoln wheat penny which is now valuable. The Lincoln wheat penny was replaced in 1959 with Lincoln Memorial penny which replaced the wheat stems with Lincoln Memorial at the backside.

What makes the Lincoln wheat penny valuable?

There are several factors which make the Lincon wheat penny rarer and more valuable. These are:

• Rare pennies and mint marks: Some pennies were minted in small number, which made them rare and valuable. There are examples like 1909-S V.D.B., 1914-D, 1922 No D, and 1931-S. Since Philadelphia minted pennies didn’t have any mint mark, so pennies from Denver and San Francisco were preferred.
• Appearance and rank: Pennies which were unused till now will be more valuable than wear and teared ones as the former retain their original shine. These pennies are graded on 70-point scale by the experts from PCGS and NGC to examine the quality.
• Minting errors and its types: Some pennies got created due to minting errors. Minting errors can include incorrect material used, double stamped etc.
• Coin build material: Some pennies were accidentally made from bronze, which now is valuable.
• Legacy: This coin was the first of its kind to feature the President Abraham Lincoln and was also used in both world wars.

Types of Rare Lincoln Wheat Penny

There are several types of rare Lincoln wheat penny which are valuable due to uniqueness. Let’s take a look:

• Rare coins: Some of the Lincoln wheat penny were made in small numbers like, 1909-S V.D.B (only about 480k+ made), 1914-D (roughly 1 million made) and 1931-S (only 860k+ made). The less the number, the more the value.
• Minting Errors: Minting errors in some pennies like:
  • 1922 No D penny – Doesn’t have Denver mint mark.
  • 1909-S penny – Have doubly stamped letter S (San Francisco)
  • 1943 copper penny – Accidentally made from bronze.
  • 1944 steel penny – Made from leftover steel.
• Double Printing: The 1955 doubly died penny was made of over-stamping which resulted in dates and letters being visible as double marked. Similar designs came for 1917 and 1936 coins.

These unique coins make them rarer which overall fetches a good amount at auctions, with some even reaching to thousands and some by million at auctions.

Is the Lincoln Wheat Penny Really Worth $1.5 million?

There is a very rare Lincoln wheat penny which have fetched for more than their actual values at auctions. One notable example includes the 1943 copper penny which was sold for $1+ million in 2010 and 2021. It is because it was made up of bronze instead of steel which was primarily used in Lincoln wheat penny. Also, only about 10 such coins were made which skyrocketed their prices. Though 1909-S V.D.B., 1914-D, and 1955 double die penny are also valuable but as per past records, they didn’t fetch that million value.

There are some misleading news and internet rumours of a rare Lincoln wheat penny having a worth of $1.5 million. While there can be a possibility of a rare Lincoln wheat penny which can fetch a value close to $1.5 million, but as per auction records, no such coin has been discovered to have fetched that same amount till date.

What you should do if you find a Lincoln wheat penny in your wallet?

If you are lucky enough to get hold of a Lincoln wheat penny which was passed down to your generation or you mistakenly got at a store while dealing with a spare change, then your fortunes can reverse to good. You may have to look for rarity in that coin so as to make it valuable. Check for things like minting errors, double stamped dates and letters, or material composition to ascertain its uniqueness. You may do a magnet test – as the ones made of steel attract to magnets while those made of bronze don’t and the bronze ones are rare.

If the coin is untouched or is very much fresh, then don’t clean it as reaction with soaps and chemicals can make the surface rough and lower its value. Instead, store it in a safe place and take help from organizations like NGC or PCGS to know more of its value. You may then either keep it with you for future investments as the price of rare items increases with time, can sell at auctions for a better price, or can trade that coin with a coin collector enthusiast. So next time you find a Lincoln wheat penny, you now know what to do with it!

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