The Lincoln Wheat Penny, minted from 1909 to 1958, is a cherished piece of American numismatic history. While most of these pennies are valued at just a few cents, certain rare varieties can command impressive sums.
Notably, a specific 1943 bronze Lincoln Wheat Penny has been valued at $168,000, and remarkably, some of these rare coins are still in circulation.
Understanding the Lincoln Wheat Penny
Introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny features the 16th President’s portrait on the obverse and two wheat stalks on the reverse, symbolizing prosperity. These pennies were minted until 1958, after which they were replaced by the Lincoln Memorial design.
The 1943 Bronze Lincoln Wheat Penny
During World War II, the U.S. Mint faced a shortage of copper and switched to zinc-coated steel for penny production in 1943.
However, a small number of bronze planchets from 1942 were mistakenly used, resulting in the 1943 bronze Lincoln Wheat Penny. Only a few of these error coins are known to exist, making them highly valuable.
Identifying the 1943 Bronze Lincoln Wheat Penny
To determine if you have a 1943 bronze Lincoln Wheat Penny:
- Check the Date: Look for a penny with the year 1943 stamped on it.
- Test with a Magnet: If the penny sticks to a magnet, it’s made of steel and not the rare bronze. If it doesn’t stick, it might be the valuable bronze variety.
- Examine the Appearance: Genuine 1943 bronze pennies have a reddish-brown or copper-like appearance, unlike the silver-gray color of steel pennies.
- Professional Verification: For certainty, have the coin examined by a professional grading service like PCGS or NGC.
Other Valuable Lincoln Wheat Pennies
Beyond the 1943 bronze variety, several other Lincoln Wheat Pennies are highly sought after:
1909-S VDB Penny
One of the first Lincoln pennies, featuring the designer’s initials ‘VDB’. Some versions can sell for over $100,000.
1944 Steel Penny
Some 1944 pennies were mistakenly made of steel instead of copper, making them rare and valuable.
1955 Doubled Die Penny
A minting error caused the numbers and letters to appear doubled, making it a rare collector’s item worth thousands.
Is the $168K Penny Still in Circulation?
Yes, while extremely rare, it is still possible to find a 1943 bronze Lincoln Wheat Penny in circulation. Many people do not check their pocket change thoroughly, so these coins could still be hiding in old collections, coin jars, or even given as change in a store.
How to Increase Your Chances of Finding a Rare Penny
To enhance your chances of discovering a valuable Lincoln Wheat Penny:
- Examine Your Change: Regularly inspect your pocket change, especially older coins from banks or vending machines.
- Search Old Collections: Look through old coin collections from relatives or friends.
- Purchase Coin Rolls: Buy coin rolls from banks, as they may contain older pennies.
- Attend Coin Shows: Visit flea markets, estate sales, and garage sales, where rare coins might be sold unknowingly.
The Lincoln Wheat Penny, particularly the 1943 bronze variety, holds significant value among collectors. While finding such a rare coin in circulation is uncommon, it’s not impossible. By understanding what to look for and diligently searching through your change, you might just discover a hidden treasure.
FAQs
What makes the 1943 bronze Lincoln Wheat Penny so valuable?
Its rarity stems from a minting error during World War II when some bronze planchets were mistakenly used instead of steel, resulting in a coin that was never intended to exist.
How can I tell if my 1943 penny is made of bronze or steel?
Use a magnet: if the penny sticks, it’s steel; if it doesn’t, it’s likely bronze.
Are there other Lincoln Wheat Pennies worth a significant amount?
Yes, coins like the 1909-S VDB, 1944 steel penny, and 1955 doubled die penny are also highly valuable.
