If you like collecting coins or are interested in the realm of rare coins, then you will know the name of Lincoln Wheat Penny. This coin is historical and precious for numerous reasons, but the cost of certain special editions has gone up to 600,000 dollars! The most fascinating aspect is that these unusual coins may even be in circulation today; i.e., there is a chance that you might have one of these coins as well. Let us learn the history, characteristics, and causes of this rare penny that render it so precious.
History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was originally introduced in 1909. It was created by the renowned designer Victor D. Brenner. It was America’s very first coin to bear an image of an actual person – and the person was Abraham Lincoln. The back of this coin featured two stalks of wheat, and because of this, it came to be known as “Wheat Penny”. This design continued until 1958, when it was replaced by the Lincoln Memorial design.
The Lincoln Wheat Penny Worth $701,000, Still in Circulation The Lincoln Wheat Penny Worth $701,000, Still in Circulation Characteristics of the Lincoln Wheat Penny valued at $600,000 Characteristics of the Lincoln Wheat Penny valued at $600,000 Not all Lincoln Wheat Pennies are worth this much, but some of the rare ones have sold for as much as millions of dollars. The most valuable and scarce of these is the 1943 Bronze Lincoln Wheat Penny.
Why is this coin so rare?
During World War II, the US government decided to mint the penny in steel to save copper.
However, by mistake, some 1943 pennies were also minted in copper.
The number of such bronze pennies is very low, due to which their value has reached $600,000.
How to identify if you have a rare 1943 Bronze Lincoln Wheat Penny?
If you have a 1943 Lincoln Wheat Penny, check these points:
✔ Date of the coin: It should have “1943” stamped on it.
✔ Color: Usually, 1943 pennies have a silvery sheen (because they were made of steel). But if your coin is copper or bronze in color, it may be rare.
✔ Magnet Test: Steel coins stick to a magnet, but bronze coins do not. If your coin does not stick to a magnet, it may be a rare version.
✔ Weight:
A steel penny weighs 2.7 grams.
A bronze penny weighs 3.11 grams.
If your 1943 Lincoln Wheat Penny meets all of these criteria, show it to a coin expert, because it could be worth millions of dollars!
Apart from the 1943 Bronze Penny,
here are some other Lincoln Wheat Pennies that have sold for very high prices: 1909-S VDB Lincoln Penny – Victor D. Brenner’s first design included having “VDB” printed on it, but only 484,000 were produced. This is worth $100,000+. ???? 1944 Steel Lincoln Penny – Was accidentally produced to be a bronze penny in 1943 but accidentally produced as a steel penny in 1944. This too has sold for more than $100,000. ???? 1955 Doubled Die Lincoln Penny – The words on it look doubled (doubling error), and due to this, it sells for thousands of dollars.
Lincoln Wheat Penny Worth $990K, Still in Circulation Lincoln Wheat Penny Worth $990K, Still in Circulation Is this rare penny still in circulation? Yes, it’s highly unlikely, but not out of the question! Old coins are frequently spent without anyone realizing it. Several collectors have discovered rare coins by purchasing rolls of coins at banks. If you search your pockets, piggy banks, or bank coins thoroughly, you may strike it lucky!
Conclusion
The Lincoln Wheat Penny is not just an ordinary coin; it’s a piece of history and potentially a great treasure. The 1943 Bronze Lincoln Wheat Penny, in particular, which has been valued at $600,000, is still a collector’s dream.
FAQs
1. What makes the Lincoln Wheat Penny worth $600K?
The Lincoln Wheat Penny, particularly rare or error versions, can be worth up to $600K due to unique features such as minting errors, rare production years, or misprints that make them highly collectible. These pennies are sought after by numismatists and coin collectors.
2. How do I know if I have a valuable Lincoln Wheat Penny?
To determine if your Lincoln Wheat Penny is valuable, look for special characteristics such as minting errors, rare dates, and specific condition grades. Key dates include 1909-S VDB, 1914-D, and 1922 No D, which are particularly valuable in the right condition.
3. Where can I sell my rare Lincoln Wheat Penny?
If you believe you have a rare Lincoln Wheat Penny, you can sell it through online auction sites, coin dealers, or reputable numismatic marketplaces. It’s recommended to have the coin appraised by an expert before selling.
4. Why are some Lincoln Wheat Pennies so valuable?
Certain Lincoln Wheat Pennies are valuable because they were produced in limited quantities or have minting errors that make them distinct from others. The most sought-after coins typically come from specific years or have unique flaws.
5. Is the $600K Lincoln Wheat Penny still in circulation?
Yes, it is possible to find a Lincoln Wheat Penny worth up to $600K still in circulation, although it is extremely rare. Coin collectors have been known to discover such pennies in their everyday change, though they are often quickly snatched up by others or found by collectors.