The $700K Lincoln Wheat Penny: Have you ever wondered if a small, ordinary-looking coin in your pocket could actually be worth a fortune? Well, if you happen to stumble upon a 1943-S Bronze Lincoln Wheat Penny, you could be holding a coin worth up to $700,000! Yes, you read that right. This penny, rare and steeped in history, is one of the most sought-after coins by collectors today.
In this detailed guide, we’ll uncover the fascinating story behind this incredible coin, explain exactly how to identify it, and provide expert advice on what to do if you think you have one.
The $700K Lincoln Wheat Penny
| Feature | Details |
|---|---|
| Coin Name | 1943-S Bronze Lincoln Wheat Penny |
| Estimated Value | Up to $700,000 |
| Key Identifiers | 1943 date, “S” mint mark, copper color, non-magnetic, weighs ~3.11 grams |
| Authentication Needed | Yes – Professional grading recommended via PCGS or NGC |
| Historical Significance | Wartime error – minted during WWII copper shortage |
The idea that a simple penny could be worth $700,000 might sound far-fetched, but history proves otherwise. The 1943-S Bronze Lincoln Wheat Penny stands as a symbol of rarity, history, and collector passion. If you’re lucky enough to find one, it could very well change your life.
Remember: check your change, inspect old jars, look through inherited coin collections—treasures sometimes hide in the most ordinary places.
Whether you’re a seasoned coin collector or just getting started, understanding the key details of these rare coins could lead you to a priceless discovery.
The Fascinating History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. Designed by Victor David Brenner, it was the first U.S. coin to feature a real person rather than a symbolic figure.
During World War II, copper was a critical resource for making ammunition and other military equipment. To conserve copper, the U.S. Mint decided to produce pennies using zinc-coated steel instead. In 1943, almost all pennies were struck in steel, but a few bronze (copper-based) planchets from 1942 were mistakenly used, resulting in a tiny number of 1943 copper pennies.
One of the rarest of these is the 1943-S Bronze Lincoln Wheat Penny, minted at the San Francisco Mint.
Why Is the 1943-S Bronze Penny So Valuable?
Several factors contribute to the astronomical value of this penny:
- Extreme Rarity: Only a handful of authentic 1943-S Bronze pennies are known to exist.
- Historical Importance: It represents a unique error during a pivotal moment in U.S. history.
- Demand Among Collectors: Serious numismatists are willing to pay top dollar to add this coin to their collections.
In 2012, one such coin sold for $1 million at an auction, though average sales for authenticated specimens are around $700,000.
Identify a 1943-S Bronze Lincoln Wheat Penny
You don’t need expensive equipment to make a preliminary identification. Here’s what to look for:
1. Check the Date and Mint Mark
- The coin should be dated 1943.
- It should have an “S” mint mark located just below the date, indicating it was minted in San Francisco.
2. Examine the Color
- A genuine 1943 steel penny will appear silver-gray.
- A 1943-S Bronze penny will have a coppery-brown hue, similar to older Lincoln pennies.
3. Do the Magnet Test
- Steel pennies are magnetic.
- Bronze pennies are not magnetic.
- If your 1943-S penny does not stick to a magnet, you might have a rare find!
4. Weigh the Coin
- Use a precise digital scale.
- A genuine bronze penny weighs approximately 3.11 grams.
- A steel penny weighs about 2.7 grams.
5. Seek Professional Authentication
If your coin passes the initial tests, submit it to a professional grading service like PCGS or NGC. Authentication and grading are essential for confirming value.
Practical Advice: What to Do If You Find One
- Handle Carefully: Use gloves or hold the coin by the edges to avoid contaminating it with oils from your skin.
- Avoid Cleaning: Cleaning a rare coin can lower its value dramatically.
- Seek Professional Help: Contact a reputable coin grading service.
- Get an Appraisal: After authentication, have your coin appraised by a professional to understand its market value.
- Consider Auction Houses: Major auction houses like Heritage Auctions and Stack’s Bowers specialize in selling rare coins.
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Other Valuable Lincoln Wheat Pennies to Watch For
Even if you don’t find a 1943-S Bronze penny, other Lincoln Wheat Pennies can be highly valuable:
- 1909-S VDB: First-year issue, limited mintage, can be worth thousands.
- 1914-D: Key date from Denver; very low mintage.
- 1922 No D: Denver Mint error with no mint mark.
- 1955 Doubled Die Obverse: Highly visible doubling of date and lettering.
These pennies can fetch values ranging from hundreds to tens of thousands of dollars depending on their condition.
FAQs On The $700K Lincoln Wheat Penny
Q: Is it really possible to find a 1943-S Bronze Lincoln Penny in circulation?
A: While extremely rare, some have been discovered in coin collections, estate sales, or old jars of change.
Q: How can I tell the difference between a fake and a real 1943-S Bronze penny?
A: Professional authentication is necessary. Experts can detect alterations such as date changes or counterfeit compositions.
Q: How much does it cost to authenticate a coin?
A: Grading and authentication can cost between $50 to $150 depending on the service and the coin’s value.
Q: Should I sell my rare coin immediately?
A: Not necessarily. Consult with professional numismatists or auction houses to decide the best time and method to sell.
Q: Are there other rare pennies from the 1940s?
A: Yes. Besides the 1943 Bronze pennies, 1944 steel pennies (a reverse error) are also extremely valuable.
