In one way or another, these Lincoln Wheat Pennies, which were produced between 1909 and 1958, have always been the most favored coin of American coinage. Most of these coins are worth next to nothing, but some rarities have fetched some rather crazy sums at auction.
~Most recently, one such penny hammered down at more than $618,000 in 1943, inspiring the really scary notion that maybe there are more in circulation, just lying around.
Origin of Lincoln Wheat Penny
The coin known as the Lincoln Wheat Penny was first made in 1909 to celebrate Lincoln’s centennial. The coin was the first to have his images on it. It has a bust of Lincoln on the obverse side and stalks of wheat on the reverse side, denoting the sustenance of the land.
Just how special would it need to be for a penny to sell for $618,000? The mere existence of a rare 1943 Lincoln Wheat penny put an $618000 tag on it. Copper was a very important war commodity and was not used by the military to forge implements; rather, therefore, in 1943 the U.S. Mint decided to mint pennies from zinc-coated steel.
As it turned out, however, a few of the pennies were blanked and struck from leftover copper planchets from 1942. Because of the combination of scarcity with historical significance, that is what makes numismatists chase after these rare 1943 copper pennies.
Identifying the Rare 1943 Copper Penny
This identification method can help determine whether or not you possess one of the rare coins: Magnetic Test: Steel pennies are attracted to magnets, whereas copper pennies are not. So if a 1943 penny does not stick to the magnet, it can be recognized as the rare copper type.
A color consideration: Copper pennies show a reddish-brown tint quite distinctive to them when compared with the grayish aspect that steel pennies have. Weighing: A copper penny weighs about 3.11 grams, while a steel penny weighs about 2.7 grams, certainly giving a readout that could help with identification on a precise scale.
Other Lincoln Wheat Pennies Worth More
Other than the 1943 copper penny, there are quite some Lincoln Wheat pennies worth quite a handsome amount:
1909-S VDB Penny: Well, this one has the initials of designer Victor David Brenner (‘VDB’) on the reverse, and there has been so little mintage that it is highly coveted.
1955 Doubled Die Penny: This minting error doubled the date and lettering; approximately 20,000 to 24,000 of these coins would have gotten used in circulation, making them very popular among collectors.
| Year | Description | Estimated Value | Notable Features |
|---|---|---|---|
| 1909-S VDB | Features designer’s initials; limited mintage | Up to $100,000 | Only 484,000 minted |
| 1943 Copper | Minting error during WWII; struck on copper planchets | Up to $618,000 | Approximately 20 known to exist |
| 1955 Doubled Die | Doubling effect on date and lettering due to minting error | Tens of thousands of dollars | 20,000 to 24,000 in circulation |
Is it possible for the $618,000 penny to exist? Yes, in fact; most of these pennies remain so valuable and really some may still be found circulating today. Perhaps a few may be available in pocket change, attics, or old collections.
This tantalizing possibility stirs every antiquarian numismatist and nonbeliever treasure seeker.
It would entice any historical, $618,000 Lincoln Wheat Penny that some extraordinary treasure could rest in the most mundane locations.
So whether you are an ardent coin collector or one who just occasionally checks their change, next time you come across a penny from 1943, maybe take a second glance-it might just be worth hundreds of thousands and a piece of history.
FAQS:
What makes the 1909-S VDB Lincoln Wheat Penny so rare and valuable?
The 1909-S VDB Lincoln Wheat Penny is so valuable because of its extreme rarity, meager mintage (minted for a short time from March to April of 1909, and only about 484,000 coins), and the general public outcry over the designer’s initials, “VDB,” being inscribed on the reverse of the coin.
What is the value of a 1909-S Lincoln Wheat Penny today?
The value of a 1909-S VDB can range from $100,000 to $618,000, depending on the condition. Uncirculated coins in excellent or mint condition can demand the highest prices.