Have you ever casually glanced at a penny and tossed it aside, thinking it was worthless? Well, you might want to take a second look. Some of those tiny copper coins jingling in your change jar could be worth a fortune—literally. One specific Lincoln Wheat Penny has been valued at a jaw-dropping $1.2 million. And here’s the kicker: a few of these rare pennies might still be in circulation today, just waiting to be discovered by someone lucky enough to spot them.
A Piece of American History: The Lincoln Wheat Penny
Introduced in 1909, the Lincoln Wheat Penny was more than just pocket change—it marked a milestone in American coinage. For the first time, a real person graced a U.S. coin: President Abraham Lincoln. Before that, coins typically featured symbolic figures like Lady Liberty.
Designed by Victor David Brenner, the front of the coin showcases Lincoln’s profile, while the back features two wheat stalks flanking the words “ONE CENT.” These pennies remained in circulation until 1958 and became a fixture in American life. Even the common ones are beloved by collectors—but some rare versions are worth a whole lot more.
The Penny That Slipped Through the Cracks—Literally
The most famous of these is the 1943 Bronze Lincoln Wheat Penny, which can fetch up to $1.2 million at auction. So, what makes it so special? It all comes down to a World War II-era mistake.
During the war, copper was in high demand for military equipment, so the U.S. Mint began making pennies out of zinc-coated steel in 1943. But in a twist of fate, a few leftover copper blanks from 1942 somehow got used by mistake. Those rare 1943 copper pennies weren’t supposed to exist—but they do. Fewer than two dozen have ever been found, making them one of the rarest and most sought-after coins in U.S. history.
How to Tell if You Have the $1.2 Million Penny
Think you’ve got a 1943 penny in your coin stash? Here’s how to do a quick check:
- Do the magnet test: Steel pennies will stick to a magnet. The rare copper ones won’t.
- Look at the color: Steel pennies are silvery-gray, while copper ones have that classic reddish-brown tone.
- Check the year: “1943” should be clearly visible under Lincoln’s bust.
If your coin passes those tests, it’s time to call in the pros. Have it authenticated by a professional coin grading service like PCGS or NGC. There are counterfeits out there, so expert verification is essential.
Other Lincoln Wheat Pennies Worth Big Bucks
While the 1943 copper penny is the holy grail, there are plenty of other Lincoln Wheat Pennies worth hunting for:
- 1909-S VDB – Minted in San Francisco with the designer’s initials; can be worth over $100,000.
- 1914-D – A rare Denver mint penny that sells for $5,000 to $100,000.
- 1922 “No D” – A die error caused the mint mark to vanish; highly valuable.
- 1944 Steel Penny – A war-year oddity that can fetch six figures.
Stories That Inspire: Real People, Real Finds
Believe it or not, people are still stumbling upon these coins in everyday places. From pocket change at the grocery store to forgotten jars in the attic, these hidden gems are occasionally found by lucky individuals who just happen to look closely. Some collectors even buy rolls of pennies from banks and search through them one by one—a hobby that’s paid off for more than a few treasure hunters.
Ready to Start Your Own Search?
Getting started is easy and fun. Check any pennies you already have and set aside any that have wheat stalks on the back. Focus on coins from 1909 to 1958, and pay extra attention to key years like 1943, 1914, and 1922. You can also pick up penny rolls from banks or browse estate sales and flea markets, where coins might be sold for face value by someone unaware of their worth.
What to Do If You Find a Rare Penny
If you think you’ve found something valuable, handle it carefully—only touch the edges. Store it in a protective case and don’t clean it (cleaning can ruin a coin’s value). Then, photograph both sides and contact a professional for verification. Depending on its condition and rarity, your penny could be a once-in-a-lifetime payday.
Conclusion
Finding a million-dollar penny might sound like a fantasy, but it’s happened before—and it could happen again. Whether it’s tucked in a coin jar, hiding at the bottom of a drawer, or slipped into your change at the gas station, that rare Lincoln Wheat Penny might just be waiting for someone to notice. So the next time you get a handful of change, take a closer look. That humble little cent could turn out to be a historic treasure.