A penny worth nearly $700,000? Sounds like folklore something your uncle might say after a few beers while digging through a jar of old change. But it’s real. One-cent coins, especially certain Lincoln Wheat Pennies, have become the stuff of numismatic legend. And the kicker? Some of them might still be hiding in plain sight, quietly clinking around in forgotten piggy banks or wedged beneath sofa cushions.
Let’s break down how one of America’s most common coins became a rare collectible that’s fetching small fortune status.
The Wheat Penny You Need to Know About
Minted between 1909 and 1958, the Lincoln Wheat Penny was your standard-issue pocket change for decades. You’ve probably seen one. Honest Abe on the front, two wheat stalks on the back. Nothing fancy. Most are still only worth a few cents to maybe a couple bucks if they’re in pristine condition.
But once in a blue moon, a minting error or rare variation turns one of these into a once-in-a-lifetime find. The most famous? The 1943 Copper Wheat Penny.
Why a 1943 Penny Can Be Worth $700,000
Here’s where history flips the script.
During World War II, copper was considered a vital war material—used for shell casings, wiring, and military equipment. So in 1943, the U.S. Mint switched from copper to zinc-coated steel for pennies to conserve resources. These “steelies,” with their silver-gray shine, were mass-produced.
But then, a few mistakes happened. A small batch of 1943 pennies was struck using leftover copper planchets from 1942—an accident that shouldn’t have happened, but did. And because so few of these copper 1943 pennies exist (roughly a couple dozen known examples), they’ve become holy grails in the coin world.
One verified example sold at auction for $840,000 in 2021. Others have fetched between $250,000 and $700,000 depending on condition and provenance.
So yeah, this isn’t a myth—it’s modern-day treasure hunting.
How to Tell If You Have the Real Deal
Think you’ve got one of these unicorns lying around? There are a few quick tests you can try before calling the coin grading pros.
| Test | What to Look For |
|---|---|
| Magnet Test | Steel pennies stick to magnets. Copper ones don’t. |
| Color | Copper has a warm, brown or reddish hue. |
| Weight | Copper coins weigh about 3.11 grams. Steel ones are lighter. |
| Date Check | Must clearly read 1943—not altered or worn out. |
Important: Some scammers have altered 1948 pennies to look like 1943s by shaving the “8.” Professional authentication is the only way to be sure.
Why Some May Still Be in Circulation
The 1943 Copper Penny looks, at a glance, like any other dull penny. No golden glow. No magical sound. Just… a penny. That’s why some experts believe a few are still out there. They could be sitting in coin jars, inherited collections, or even tucked inside an old piggy bank no one’s opened in 40 years.
And because coins circulate—get passed from hand to hand for decades—there’s always a non-zero chance that someone, somewhere, is holding onto a six-figure coin without even knowing it.
Other Lincoln Wheat Pennies That Can Make You Rich
The 1943 Copper is the star, but it’s not the only Wheat Penny worth serious cash. Here are a few others that might surprise you:
| Year | Mint Mark | Estimated Value | Reason |
|---|---|---|---|
| 1909 | S VDB | $1,000 to $50,000+ | Low mintage, designer initials |
| 1914 | D | $300 to $5,500+ | Rare Denver mint issue |
| 1922 | No D | $500 to $10,000+ | Missing mint mark error |
| 1955 | Doubled Die | $1,000 to $25,000+ | Visible doubling of lettering |
| 1944 | Steel | $75,000 to $150,000+ | Opposite of the 1943 Copper |
So yeah, keep your eyes peeled.
What NOT to Do If You Think You’ve Found a Rare Penny
Rule number one: don’t clean it.
No soap, no polish, no vinegar, no TikTok tricks. You could wipe away thousands of dollars in value with one wrong move. Instead:
- Hold it by the edges to avoid skin oils
- Place it in a protective coin holder
- Get it graded by professionals like PCGS or NGC
- Keep documentation if you found it in a collection—it may help with provenance
And if it turns out to be legit? You’re suddenly in the rare air of elite collectors, auction houses, and numismatic folklore.
Where to Sell a Valuable Penny
Found a copper 1943 Wheat Penny or another high-value error? You’ve got options.
- Auction houses: Heritage Auctions, Stack’s Bowers, and GreatCollections specialize in rare coins.
- Certified coin dealers: Look for dealers registered with the Professional Numismatists Guild (PNG).
- Private collectors: If your coin is verified and rare, private buyers may pay a premium for a quick deal.
Just don’t sell it on Craigslist to the first person offering $100. Do your homework.
A Penny for Your Thoughts And Maybe Your Retirement Fund
It’s almost poetic that something as small and ordinary as a penny could be worth hundreds of thousands of dollars. But that’s the charm of coin collecting. It blurs the line between history, economy, and luck. You never really know what you’re holding until you look closely.
So the next time you get a handful of change, don’t be so quick to toss those brown coins into a tip jar or glove compartment. Take a second glance.
Because in that moment, you might be holding a piece of history—and a lottery ticket rolled into one.
FAQs
Yes. The 1943 Copper Wheat Penny is one of the rarest coins in U.S. history and has sold for over $700,000.
How many 1943 copper pennies are there.
Then it’s a steel penny, not copper. Still cool, but not the jackpot.
Yes, but stick with trusted platforms or go through auction houses to ensure you get full value.
Absolutely—if nothing else, it’s a fun hobby. And who knows? You might strike it rich.
