Imagine finding a penny in your change that’s worth nearly a million dollars! The 1943 Lincoln Wheat Penny, an ordinary-looking coin with an extraordinary story, could fetch up to $840,000 at auction due to a rare minting error from World War II. Some of these pennies might still be hiding in circulation.
In this guide, we’ll uncover why this penny is so valuable, how to spot one, and why collectors are obsessed. Ready to check your coins? Let’s dive in!
What Is the 1943 Lincoln Wheat Penny?
The Lincoln Wheat Penny, minted from 1909 to 1958, honors Abraham Lincoln with his portrait on the front and two wheat stalks on the back. In 1943, most pennies were made of zinc-coated steel to save copper for the war effort. However, a tiny number were mistakenly struck in copper, creating one of the rarest coins in U.S. history.
Why Is the 1943 Copper Penny So Valuable?
The 1943 copper penny is prized for its extreme rarity. Only about 20 to 40 are known to exist, making them a collector’s holy grail. One sold for $840,000, driven by scarcity and demand. Coins in pristine condition or with unique features can command even higher prices, sparking excitement among numismatists.
The Story Behind the 1943 Copper Penny
During World War II, the U.S. Mint switched to steel pennies to conserve copper for military needs. By mistake, a few copper blanks from 1942 were left in the presses and struck with the 1943 design. These errors, discovered years later, became legendary. A teenager reportedly found one in 1947, igniting public fascination.
How to Spot a 1943 Copper Penny
Here’s how to identify the rare 1943 copper penny:
| Feature | Regular 1943 Penny | 1943 Copper Penny |
|---|---|---|
| Material | Zinc-coated steel | Copper |
| Color | Silver-gray | Reddish-brown |
| Magnet Test | Sticks to magnet | Does not stick |
| Weight | 2.7 grams | 3.11 grams |
| Value | $0.10 – $5 | $100,000 – $840,000+ |
- Magnet Test: Copper pennies don’t stick to magnets; steel pennies do.
- Color: Copper pennies are reddish-brown, unlike the silver-gray steel versions.
- Weight: Copper pennies weigh 3.11 grams, while steel pennies weigh 2.7 grams.
- Mint Mark: Check for “D” (Denver), “S” (San Francisco), or no mark (Philadelphia) under the year.
Other Valuable Lincoln Wheat Pennies to Look For
While the 1943 copper penny is the star, other Wheat Pennies are also worth hunting:
1909-S VDB Penny
- What is it? The first Lincoln Wheat Penny, with the designer’s initials (VDB) and an “S” mint mark.
- Why is it rare? Only 484,000 were minted in San Francisco.
- Value: $700 to $2,000+.
1944 Steel Penny
- What is it? A penny mistakenly struck in steel instead of copper.
- Why is it rare? Few were made, making it a collector’s gem.
- Value: $75,000 to $200,000+.
1955 Double Die Penny
- What is it? A penny with a doubled image, causing blurry text and dates.
- Why is it rare? The error creates a unique, collectible look.
- Value: $1,000 to $20,000+.
How to Check Your Pennies for Value
You don’t need to be a coin expert to find a valuable 1943 penny. Follow these steps:
- Sort Your Change: Look for 1943 pennies or other key years like 1909, 1944, or 1955.
- Use a Magnet: Test 1943 pennies to see if they’re copper (non-magnetic).
- Examine Details: Use a magnifying glass to check for mint marks or errors.
- Get It Appraised: Take potential finds to a professional coin dealer or grading service like PCGS or NGC.
- Store Safely: Keep coins in protective holders to avoid damage.
Where to Find Rare 1943 Lincoln Wheat Pennies
These rare pennies could be hiding in plain sight:
- Pocket Change: Some 1943 copper pennies are still in circulation, though extremely rare.
- Coin Rolls: Buy penny rolls from banks and search for treasures.
- Family Collections: Check old coin jars or inherited sets.
- Coin Shows or Shops: Visit dealers or attend coin shows for rare finds.
- Online Marketplaces: Sites like eBay or Heritage Auctions sell Wheat Pennies, but watch for counterfeits.
How to Sell a Valuable Penny
Think you’ve found a rare 1943 copper penny? Here’s what to do:
- Don’t Clean It: Cleaning can damage the coin and reduce its value.
- Get It Graded: Send it to PCGS or NGC for authentication and grading.
- Research Its Value: Check recent auction prices for similar coins.
- Sell Smart: Use reputable auction houses, coin dealers, or trusted online platforms.
- Beware of Fakes: Counterfeits, like altered 1948 pennies, are common, so professional grading is key.
Why Collectors Are Crazy About the 1943 Penny
Coin collecting, or numismatics, blends history with the thrill of discovery. The 1943 copper penny, tied to World War II, is a piece of history that could change your life. Its rarity and the story of its accidental creation make it a collector’s dream. Even if you don’t find an $840,000 penny, collecting is a fun way to explore the past.
Conclusion
The 1943 Lincoln Wheat Penny proves that small coins can hold massive value. With only a handful of copper versions known to exist, finding one could be like winning the lottery. Next time you get change, take a closer look—you might be holding a fortune worth $840,000. Grab a magnet and start your treasure hunt today!
FAQs
1. What makes the 1943 Lincoln Wheat Penny so valuable?
The 1943 copper penny is valuable because it was mistakenly struck in copper instead of steel, making it extremely rare.
2. How can I tell if my 1943 penny is copper?
Use a magnet: a copper penny won’t stick and has a reddish-brown color, unlike the silver-gray steel version.
3. Can I still find a 1943 copper penny in circulation?
It’s possible but highly unlikely, as most are in collections. Check pocket change or old coin jars.
4. How do I know if my 1943 penny is real?
Get it authenticated by a grading service like PCGS or NGC, as counterfeits (like altered 1948 pennies) exist.
5. Where can I sell a rare 1943 penny?
Sell through reputable coin dealers, auction houses like Heritage Auctions, or grading services after appraisal.