Imagine finding a penny that could change your life. Some old coins are worth much more than face value, and one of the most famous is the 1943 Lincoln Wheat Penny.
This rare penny, accidentally struck in copper instead of steel, has sold for as much as $270,000—and in some cases, even higher.
In this article, we’ll explain why this penny is so valuable, how to tell if you have one, and which other Lincoln Wheat pennies could be worth a fortune.
Plus, we’ll cover how to avoid fakes and where to sell rare coins for the best price.
The History Behind the 1943 Lincoln Wheat Penny
During World War II, copper was needed for the war, so the U.S. Mint switched to making pennies from zinc-coated steel.
However, a small number of 1943 pennies were mistakenly struck on leftover copper blanks from 1942. These rare copper pennies became highly valuable due to their limited number.
Why Was This Mistake Made?
- Leftover copper planchets from 1942 were accidentally mixed into the 1943 production.
- The error wasn’t caught before some coins entered circulation.
- The mistake happened at all three U.S. Mint locations: Philadelphia (no mintmark), Denver (“D”), and San Francisco (“S”).
The 1943-D Copper Penny is the rarest, with only one known to exist.
Why Is the 1943 Copper Penny Worth So Much?
This penny is incredibly valuable because:
- It’s extremely rare – Only 20 to 40 authentic examples are known.
- It has historical significance – It represents a wartime mistake.
- Collectors are eager to own one – The demand for rare minting errors is high.
- Condition matters – The best-preserved pennies (graded Mint State 65 or higher) fetch the highest prices.
Some versions of this penny have sold for over $1 million at auctions!
How to Identify a $270,000 Lincoln Wheat Penny
Think you might have one of these rare pennies? Here’s how to check:
- Look at the Date: The coin should be from 1943, not 1948 (some fake coins have altered numbers).
- Use a Magnet: Copper pennies won’t stick to a magnet, but steel ones will.
- Examine the Color: Copper pennies have a reddish-brown color, while steel ones are silvery-gray.
- Weigh the Penny: A real 1943 copper penny weighs 3.11 grams, while steel pennies weigh 2.7 grams.
- Check for Counterfeits: Look for signs of tampering, such as altered numbers or plated coins.
Other Rare Lincoln Wheat Pennies Worth Thousands
While the 1943 copper penny is the most famous, these other Lincoln Wheat pennies are also worth serious money:
1. 1943-D Copper Penny (Denver Mint)
- Value: Over $1 million
- Why It’s Rare: Only one known to exist
- How to Identify: Has a “D” mintmark below the date
2. 1943-S Copper Penny (San Francisco Mint)
- Value: Up to $1 million
- Why It’s Rare: Fewer than five known
- How to Identify: Has an “S” mintmark
3. 1944 Steel Wheat Penny
- Value: Up to $373,750
- Why It’s Rare: A small number were mistakenly struck in steel instead of copper
- How to Identify: Steel pennies are magnetic
4. 1955 Doubled Die Penny
- Value: Up to $40,000
- Why It’s Rare: A minting error caused double lettering
- How to Identify: Look for doubled inscriptions like “LIBERTY” and “IN GOD WE TRUST”
How to Sell a Rare Penny
If you think you’ve found a valuable penny, here’s what to do next:
- Get It Authenticated: Send it to a professional grading service like PCGS or NGC for verification.
- Check Market Prices: Research recent sales on auction sites like Heritage Auctions or Stack’s Bowers.
- Sell Through Reputable Sources: Avoid selling to random buyers. Use trusted coin dealers, auction houses, or platforms like eBay.
How to Spot Fake 1943 Copper Pennies
Because these pennies are worth so much, counterfeits are common. Watch out for:
- Altered Dates: Some 1948 pennies are altered to look like 1943.
- Copper-Plated Steel Pennies: A steel penny coated in copper may look real but will stick to a magnet.
- Replica Coins: Some fakes are sold as novelties but have no collector value.
Pro Tip: Always have a professional numismatist check your coin before selling.
If you find a rare penny, it could be worth a life-changing amount of money. Even if you don’t, checking your spare change is still fun—and you might discover another valuable coin along the way!
