Imagine coming across a penny that in one moment could probably make you a billionaire. It sounds like a fantasy, doesn’t it? But some rare coins, especially some Lincoln Wheat Pennies, have sold for millions. One is being said to have an unbelievable alleged value of $2.8 billion.
And the craziest part? It might still be out there.
What Are the Special Features of Lincoln Wheat Penny?
The Lincoln Wheat Penny started to be minted in 1909 to commemorate the 100th birthday of President Abraham Lincoln. This was a non-conventional coin; it was the first U.S. coin to bear a real person instead of symbolic imagery.
Lincoln’s image is on the obverse, while the reverse is characterized by two curved wheat stalks symbolizing prosperity. These pennies were minted between 1909 and 1958 in Philadelphia, Denver, and San Francisco. While most of them are common, a few rare variations of this penny have become some of the most fabulous coins in American history.
The Billion-Dollar Question: Why Would a Penny Be So Much Worth?
Lincoln Wheat Pennies differ one from another. The ones that appraise astronomical amounts would probably have one or more of the following:
Historical significance-examples of coins linked to important events in U.S. history or changes.
Minting errors-on the production of certain coins, which therefore perhaps makes them rare.
Limited supply-the lesser it is, the more it becomes valuable.
Two of the better-known examples would be the 1943 Copper Penny and the 1909-S VDB Penny.
Copper Penny of 1943
At the time of World War II, copper was needed in the United States Mint for making ammunition. This necessitated the shift from penny production to zinc-coated steel in 1943, which looked silvery because it was not made of copper.
A tiny number of copper blanks slipped into presses by accident. Presently, these rare 1943 copper pennies are among the coins in the list of Those that people search for worldwide.
Why?
Almost all 1943 pennies are steel-cast; hence, a copper version of that year is extremely scarce.
One of them was auctioned for $1.7 million.
Some experts think that a perfect example of a 1943 copper penny could fetch upwards of $2.8 billion, depending on demand.
Now that is life-altering; that would build generational wealth.
The very first one of them all, the 1909-S VDB penny, was minted at the San Francisco Mint, where the initials “VDB” referring to designer Victor David Brenner appeared on the reverse of the coin. Only 484,000 were made.
That one drives collectors wild because:
- -Tight mintage, with only a handful of specimens still existing.
- -Mainly, it is a historic piece of U.S. coin history: the first Lincoln penny ever made.
- -You have a few hundred thousand dollars to be made, if you are lucky.
The one that exited out of the billion-dollar range? Still considered one of the valuable pennies on earth.
Could one of these be lurking in your pocket?
While this may sound like a long shot, indeed, some of these rare coins might still exist, wedged in old piggy banks, slipped along in pocket change, or stashed away in a once-functioning now-forgotten coin jar.
Think about it; how often do people actually look at a penny?
What are the Tells That One is in Possession of a Very Rare Lincoln Penny
This is how to check whether the penny in question could possibly be very valuable:
- Check the Date & Mintmark- 1943 copper penny (not steel) or 1909-S VDB.
- Magnet Test- steel pennies stick to a magnet while copper pennies do not. If your 1943 penny does not stick, you probably have something special.
- Color- copper pennies are reddish-brown, while steel ones are silvery-gray.
- Weight Test- Copper pennies weigh 3.11 grams. Steel pennies weigh 2.7 grams.
Very important: Never clean a penny that you believe to be valuable; cleaning would destroy its value. Instead, send it to a grading service like PCGS or NGC for professional authentication.
Final Thoughts: Keep Your Eyes on Your Change
You can hardly believe that a penny can be worth billions, yet history says it is possible. Among them are the 1943 Copper Wheat Penny and the 1909-S VDB, which sold for astounding values in history.
Who knows, the next record-breaking coin could just be under the couch cushions of one of us.
So, next time you’re grabbing a handful of coins, take a moment to look at them a little more closely. You could be holding a piece of American history and a lifetime-of-a-treasure to boot. All the world’s most famous treasure hunters have probably had that happen to them in their lives.
FAQS:
Is it true that there are pennies worth millions of dollars?
It is indeed true. There have been instances, such as with some very rare Lincoln Wheat Pennies, including the 1943 Copper Penny, where they have been sold for over $1 million at auction.
How can you tell if you have a rare Lincoln Wheat Penny?
Examine the date and mint mark. The 1943 Copper Penny (not steel) and 1909-S VDB Penny are two of the most valuable. Check also if a 1943 penny sticks to a magnet—if it doesn’t, it might be rare.
Where can I sell a rare penny?
f you suspect that you might have a valuable penny, it is better to authenticate it through professional grading services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) before trying to sell it via auction houses, coin dealers, or online marketplaces.