This Rare Lincoln Wheat Penny Valued At 770k, Still in Circulation

As someone who’s been in the coin collecting game for years, I still get that rush every time I check my change. And here’s the thing one particular Lincoln Wheat Penny could literally be worth more than most people’s cars. We’re talking about a genuine fortune hiding in plain sight, and I’m gonna walk you through exactly how to identify it.

The $770,000 Penny That Shouldn’t Exist

The 1943 Bronze Lincoln Wheat Penny is basically a beautiful mistake that happened during World War II. Here’s what went down: In 1943, the U.S. Mint switched from copper to zinc-coated steel for penny production because copper was desperately needed for ammunition and military equipment. But a handful of leftover bronze planchets from 1942 accidentally got fed into the presses, creating what’s now one of the most sought-after coins in American numismatics.

I’ve been following auction results for these coins since I started collecting, and the numbers are honestly staggering. A 1943 Bronze Lincoln Cent in AU55 condition sold for $329,000 back in 2014.

Source: CNBC

More recently, in 2021, we saw examples ranging from $240,000 for an NGC AU55 to a mind-blowing $372,000 for a PCGS MS62 Brown. The Denver MS64 Brown from PCGS? That one went for $840,000. Some experts estimate that pristine specimens could fetch up to $770,000 depending on condition and market demand.

Only around 20 to 40 bronze pennies from 1943 are believed to exist across all three mints Philadelphia, Denver, and San Francisco. From what I’ve seen, that’s what drives the insane demand among serious collectors.

How I Test Coins for Authenticity

Let me provide a brief overview of the testing methods I use, because counterfeiters love to prey on people’s excitement. Here’s my step-by-step approach:

The Magnet Test (this is your first line of defense): Bronze pennies are NOT magnetic, while the common 1943 steel pennies stick to magnets immediately. I keep a small neodymium magnet in my coin-checking kit specifically for this purpose. If your 1943 penny jumps toward the magnet, it’s steel and worth maybe 10 cents on a good day.

Weight Check: A genuine bronze penny weighs exactly 3.11 grams, while steel pennies clock in at just 2.7 grams. I was honestly surprised to see how many fakes fail this basic test when I’ve had them weighed at coin shops.

Color Examination: Bronze pennies have that distinctive reddish-brown copper tone. The steel versions? They’re silver-gray, and you can spot the difference pretty quickly once you know what you’re looking for.

Professional Grading: Here’s the thing if you genuinely believe you’ve found one, skip the online forums and get it authenticated by PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) immediately. I’ve relied on these services multiple times, and they’re the industry standard for a reason.

Other Wheat Pennies Worth Serious Money

The 1943 bronze isn’t the only jackpot hiding in the Lincoln Wheat series (1909-1958). I’ve paid attention to several other key dates over the years, and some of them are actually more findable than you’d think.

1909-S VDB: This is one of the most famous among collectors. The San Francisco mint produced these with designer Victor David Brenner’s initials “VDB” stamped on the reverse, but public outcry led to their removal after just a short production run. Look for the small “S” mintmark below the date and those three letters on the back. Depending on condition, these can fetch anywhere from $1,000 to well over $5,000.

1914-D Lincoln Cent: Only about 1,193,000 were minted in Denver, making this arguably the most valuable non-error penny in the series. It’s tough to find uncirculated versions, but I’ve seen high-grade examples sell for over $150,000. Even circulated specimens in good condition can command $200 to $2,500.

1922 No D Penny: This error happened because the Denver Mint was under enormous production pressure. Worn dies filled with grease resulted in pennies with weak or completely missing “D” mintmarks. What I also like about this error is that it’s visually distinctive once you know what you’re looking for. Values range from $1,500 to several thousand depending on the strength of the error.

1955 Doubled Die Obverse: From what I’ve seen, this is one of the most dramatic mint errors ever produced. A misaligned hub created obvious doubling on the date, “LIBERTY,” and “IN GOD WE TRUST”. Approximately 24,000 slipped into circulation after about 16,000 were destroyed. Prices range from $1,500 for circulated examples to over $50,000 for pristine specimens.

1944 Steel Penny: Here’s a twist while 1943 was supposed to be steel, 1944 was supposed to return to bronze. A few leftover steel planchets got struck with 1944 dies, creating the opposite error. These can bring $75,000 or more at auction.

1931-S Lincoln Cent: The San Francisco Mint produced only 866,000 of these during the Great Depression. Because people hoarded coins due to economic uncertainty, you can sometimes find uncirculated grades. Values typically range from $70 to $150, but pristine examples command significantly more.

Comparison: Bronze vs. Steel 1943 Pennies

Let me break down the key differences in a way that’s easy to reference:

Feature1943 Bronze Penny1943 Steel Penny

MaterialBronze (95% copper alloy)Zinc-coated steel

ColorReddish-brownSilver-gray

Magnetic?NoYes

Weight3.11 grams2.7 grams

Mintage~20-40 known1+ billion

Value$100,000–$770,000+$0.10–$10

What Collectors Are Saying

I’ve also checked out what people are saying about rare pennies on G2, Reddit, and numismatic forums, and there’s definitely a mix of opinions. Some folks get overly excited about common steel cents, thinking they’ve struck gold. One Reddit user posted about a 1943 steel penny their parents “kept safe,” only to learn it was worth maybe a couple dollars at most.

On the flip side, I’ve seen stories of legitimate finds that changed people’s lives. It’s worth mentioning that authentication is absolutely critical before you start planning what to do with your windfall. I personally think the excitement around these coins is justified they represent genuine historical artifacts with real scarcity.

Where These Coins Turn Up

Here’s what I’ve learned about where these pennies actually surface: Old change jars, inherited collections, estate sales, and even bank rolls occasionally yield rare finds. I was honestly surprised to see how many discoveries happen when people are simply sorting through decades-old penny collections.

Turns out, many of the 1943 bronze pennies in existence today were found by people who had no idea what they had. That’s a great sign that more could still be out there, tucked away in forgotten coin albums or mixed in with common change.

Getting Your Coin Professionally Graded

If you’ve just started looking into rare pennies and think you might have something valuable, I suggest asking yourself: what exactly do I need to verify? Not all grading services do the same thing well. Before jumping into authentication, think about the specific tests you should perform first.

PCGS (Professional Coin Grading Service): This is where I’ve personally sent coins for authentication. They encapsulate your coin in a tamper-evident holder with a detailed grade and certification number. Fees typically start around $30-50 for standard service but can be higher for expensive coins requiring special insurance.

NGC (Numismatic Guaranty Corporation): Similar reputation and service to PCGS. I agree both companies are trustworthy, and the choice often comes down to personal preference or which service has faster turnaround times.

Local Coin Dealers: For initial screening, a reputable local dealer can often spot fakes immediately. Just keep in mind that for high-value coins, you’ll still want that third-party certification before selling.

Auction Results and Market Trends

Actually, the market for these coins has been pretty active over the past few years. In 2021 alone, multiple 1943 bronze pennies came to auction. A Philadelphia Bronze cent graded NGC AU55 went for $240,000, while a PCGS MS62 Brown brought $372,000. The Denver example in MS64 Brown? That one shattered expectations at $840,000.

I haven’t tracked every single sale, but from what I’ve seen so far, the trend is upward. More recent auctions in 2022 and beyond have continued to show strong demand. It feels like a strong indicator that serious collectors aren’t losing interest anytime soon.

Other Lincoln Wheat Penny Values

Pretty solid series overall, right? Even common-date wheat pennies in decent condition can be worth 5 to 10 cents each more than face value. Here’s a quick reference for some other dates worth checking:

• 1910-S: $17–$80 depending on grade
• 1911-S: $50–$110
• 1914-S: $24–$175
• 1924-D: $40–$175
• 1926-S: $9–$75

Let’s dive in to one more thing I want you to know about: Even pennies from the 1930s and 1940s that aren’t errors can be worth a few dollars each in uncirculated condition. How awesome is that?

Common Mistakes to Avoid

From years of experience, I’ve seen people make the same errors over and over:

Cleaning Coins: This is probably the biggest value-killer. I personally think cleaning should never be done it destroys the original patina and can slash the value by 50% or more.

Assuming All 1943 Pennies Are Valuable: The steel versions were made by the billion. They’re historical novelties but not rare. One thing that really caught my eye on forums is how many people get disappointed after learning their steel penny isn’t the bronze jackpot.

Skipping Authentication: Here’s the thing if you’ve got something that might be worth $100,000+, spending $50–100 on proper grading is a no-brainer. Honestly, the possibilities are endless once you know you have a genuine rarity.

Falling for Fakes: Some counterfeiters copper-plate steel pennies or alter dates. The magnet test catches most of these immediately, but weight and professional examination are essential.

Frequently Asked Questions

What makes the 1943 bronze penny so valuable?

It’s a combination of extreme rarity, historical significance, and strong collector demand. Only a couple dozen are known to exist from an accidental minting error during wartime, which creates the perfect storm for high values at auction.

Can I really find one in circulation today?

It’s extremely rare, but yes some have surfaced from everyday change, old collections, and estate sales over the years. Your daily routine of checking change could genuinely pay off, though the odds are obviously quite low.

How do I know if my 1943 penny is bronze or steel?

Use a magnet first. Steel pennies are magnetic; bronze ones are not. Check the color (bronze is reddish-brown, steel is silver-gray) and weight (bronze is 3.11 grams, steel is 2.7 grams). If all these tests suggest bronze, get professional authentication immediately.

Where should I sell a rare penny if I find one?

Work with established auction houses like Heritage Auctions or directly with certified coin dealers who specialize in rare U.S. coins. Major grading services like PCGS and NGC often have dealer directories and can guide you toward reputable buyers.

Are there other valuable Lincoln pennies besides the 1943 bronze?

Absolutely. The 1909-S VDB, 1914-D, 1922 No D, 1955 Doubled Die, and 1944 steel penny are all highly collectible with values ranging from hundreds to tens of thousands of dollars depending on condition.

What’s the difference between circulated and uncirculated grades?

Circulated coins show wear from being handled and spent. Uncirculated (or “Mint State”) coins have never entered circulation and retain their original luster. The difference in value can be massive sometimes 10x or more for the same rare date.

Why You Should Start Checking Today

If you’ve been thinking about going through your old change or inherited coin collection, here’s a little perk you might discover something that changes everything. Just a small amount of time invested in learning identification methods could uncover a six-figure find.

Your experience level shouldn’t hold you back either. I’ve met beginners who’ve found valuable coins simply because they took the time to learn what to look for. And, of course, the thrill of the hunt makes it genuinely enjoyable beyond just the potential financial reward.

Finding a 1943 Bronze Lincoln Wheat Penny could genuinely be the discovery of a lifetime. With only a few dozen known to exist, it’s a collector’s dream that may still be hiding in everyday pockets, jars, or old albums. Take a closer look at your pennies that old coin tucked away somewhere might just be worth more than you ever imagined.

P.S. This post includes a few affiliate links. If you decide to try any of these coin grading services, I might earn a small commission at no extra cost to you. Just being upfront about it! I’m only recommending services I’ve used myself and truly believe in.

References:

• Bullion Sharks. (2024, July 14). 7 of the most valuable wheat pennies. https://bullionsharks.com/blog/7-of-the-most-valuable-wheat-pennies/
• Coleccionistas de Monedas. (2019, May 23). The ultimate reference guide 1943 copper penny value. https://www.coleccionistasdemonedas.com/en/valuable-coins-to-collect/1943-copper-penny-rare-varieties-and-value/
• USA Coin Book. (2009, December 31). 1943 Lincoln Wheat Cent: Bronze/Copper. https://www.usacoinbook.com/coins/6030/small-cents/lincoln-wheat-cent/1943-P/bronze-copper/