Foysal Ali
It’s not every day that a simple coin from your wallet could be worth more than a month’s salary. But coin collectors and history lovers are getting excited about a rare Lincoln Wheat Penny that’s making headlines again – because it’s worth up to $50,000 and might still be in everyday circulation.
Sounds unbelievable, right? But this isn’t just a story for numismatists (coin collectors). Anyone who uses cash – whether while shopping, collecting change, or digging through old piggy banks – could come across this rare coin without even knowing it.
So what’s so special about this penny?
What Is the Lincoln Wheat Penny?
This Article Includes
The Lincoln Wheat Penny was minted in the United States from 1909 to 1958. The front of the coin shows the side profile of President Abraham Lincoln, while the back has two wheat stalks (hence the name “Wheat Penny”).
Though most Wheat Pennies are worth only a few cents above their face value, a few versions are extremely rare and can be sold for thousands—or even tens of thousands—of dollars.
One such version is the 1943 Bronze Lincoln Wheat Penny.
Why Is the 1943 Bronze Penny So Valuable?
In 1943, the U.S. Mint switched from using copper to zinc-coated steel to make pennies. This was done to save copper for the war effort during World War II. So all the pennies that year were supposed to be made of steel.
But a few copper blanks (also called “planchets”) accidentally got left behind in the machines from 1942. These were mistakenly stamped with the 1943 date, creating a rare and valuable collector’s item – the 1943 Bronze Lincoln Wheat Penny.
Experts believe only a few dozen of these bronze pennies exist. That’s why they are so valuable today.
One of these rare pennies was sold for over $1 million in the past. Even regular specimens in used condition are estimated to be worth around $50,000 or more, depending on their grade and the current collector market.
How to Identify the Rare Penny
If you want to check whether you’ve got a valuable penny in your hands, here’s what you should look for:
- Date: The year on the coin should read 1943.
- Color: It should have a bronze or copper look (reddish-brown), not the typical greyish steel color of 1943 pennies.
- Magnet Test: Steel pennies are magnetic. If your 1943 penny sticks to a magnet, it’s steel and not valuable. If it doesn’t stick, it could be bronze – and worth a closer look.
- Weight: A genuine bronze penny weighs about 3.11 grams, while steel pennies weigh around 2.7 grams.
Where You Might Find One
It may sound like finding a needle in a haystack, but these rare coins have been discovered in all sorts of places—pocket change, coin jars, family coin collections, even under couch cushions.
A few people have come across them while sorting through inherited coin boxes from grandparents or older relatives. Some were simply lucky enough to find one in regular daily change.
That’s why coin experts continue to advise people to check their spare change carefully, especially any older coins. You never know what might be hiding there.
What to Do If You Find One
If you come across a 1943 penny that looks like it might be bronze, don’t try to clean it or alter it. That can reduce its value. Instead, follow these steps:
- Magnet Test – First, check if it’s magnetic. If it sticks, it’s not bronze.
- Look for Professional Help – Contact a certified coin grading service or a reputable coin dealer.
- Get It Authenticated – Only an expert can verify whether it’s a genuine 1943 bronze penny.
- Decide Whether to Sell or Keep – Once confirmed, you can auction it, sell it privately, or keep it as a rare collectible.
Why This Matters
Stories like this remind us that history isn’t always locked up in museums. Sometimes, it’s hiding right in our own homes – in forgotten jars or dusty drawers. These old coins connect us to a time when even the materials used in money had to change because of war and resource shortages.
More importantly, they’re also a lesson in how small details can carry great value. A simple penny, if it’s rare enough, can change someone’s life overnight.
So the next time you get a handful of coins after buying groceries or cleaning out your wallet, take a second look. That small, dull-looking penny could be worth a lot more than just one cent.
