Most people wouldn’t think twice about tossing a penny into a jar or down a vending machine. But what if that tiny coin was worth almost $10 million? The Lincoln Wheat Penny, once just pocket change, is now making headlines again, with one recently valued at a staggering $9.99 million.
And the wildest part? These valuable coins might still be hiding in plain sight—in your wallet, a piggy bank, or a dusty drawer.
History
The Lincoln Wheat Penny was first minted in 1909 and stayed in circulation until 1958. With Lincoln’s profile on one side and two wheat ears on the reverse, it was a classic symbol of early 20th-century American coinage. Back then, it was just another coin. Today, it’s a collector’s dream.
What makes certain Wheat Pennies worth a fortune isn’t just age—it’s rarity. Some were minted in extremely limited numbers. Others have unique errors. And some, like the copper 1943 edition, were never meant to exist in the first place.
Rarity
In 1943, the U.S. Mint switched to using steel for pennies to save copper for World War II. But a few copper blanks mistakenly got used that year. These 1943 copper pennies are now some of the rarest coins in the world.
If you find one, you might be holding a million-dollar piece of metal. But that’s not the only rarity. Other valuable Lincoln Wheat Pennies include the 1909-S VDB, the 1914-D, and the 1922 “No D” penny.
Top Sales
Here’s a look at the top-selling rare coins of 2024—proof that serious collectors will pay serious cash:
| Rank | Coin Description | Grade | Price (USD) | Auction Month | Auction House |
|---|---|---|---|---|---|
| 1 | Undated (1652) NE Threepence | PCGS XF45 | $2,520,000 | November | Stack’s Bowers |
| 2 | 1870-CC Liberty Head Double Eagle | PCGS AU55 | $1,440,000 | November | Stack’s Bowers |
| T-3 | 1850 Baldwin & Co. $10 | PCGS MS63+ | $1,260,000 | November | Stack’s Bowers |
| T-3 | 1855 $50 Kellogg & Co. | PCGS PR64CAM | $1,260,000 | January | Heritage |
| 6 | 1825/4/1 Capped Head Left Half Eagle | PCGS PR62 | $1,080,000 | August | Stack’s Bowers |
| 14 | 1881-O Morgan Dollar | PCGS PR64 | $660,000 | November | Stack’s Bowers |
| 21 | 1975 Roosevelt Dime No S | PCGS PR67 | $506,250 | October | GreatCollections |
This proves that coin collecting isn’t just a hobby—it’s an investment.
Spotting
Wondering how to spot a rare Wheat Penny? Here’s what to check:
- Date: Pennies from 1909 to 1958 are potential Wheat Pennies. Look out for 1909-S VDB, 1914-D, 1922 (no D), and especially the 1943 copper.
- Material: 1943 copper pennies are the holy grail. Test with a magnet—steel sticks, copper doesn’t.
- Mint Errors: Double dates, missing mint marks, or off-center prints can boost value.
If you suspect your penny is special, don’t guess—have it graded by a professional.
Circulation
How can coins this valuable still be out there? The truth is, most people don’t know what to look for. These rare coins often went unnoticed, tossed into banks, or spent long ago before their value was understood.
Many coins stayed in families for decades, only to re-enter circulation by accident. That’s how you could still stumble upon a $9.99 million coin in your change today.
Dealers
Looking to cash in? Dealers are available all across the U.S. Here are a few state-wise options:
- Arkansas, Alaska, Arizona, Pennsylvania, Oregon
- New York, Kentucky, North Carolina, Massachusetts
Whether you’re buying or selling, these dealers can help confirm your coin’s value.
Should You Check?
Yes, definitely! It costs nothing to check your coins, but the payoff could be massive. Many collectors began their journey by checking old jars or pocket change. It’s fun, educational, and possibly very rewarding.
That $9.99 million Lincoln Wheat Penny is proof that even the smallest, most overlooked things can hold incredible value. So next time you’re about to drop a penny in a donation jar or under the couch, take a closer look. History—and a fortune—might be staring right back at you.
FAQs
What is the value of rare Lincoln Penny?
Some can be worth up to $9.99 million.
Why is the 1943 copper penny rare?
Most were made of steel due to WWII; copper ones were mistakes.
How do I test a 1943 penny?
Use a magnet. If it doesn’t stick, it could be copper.
Are other Wheat Pennies valuable?
Yes, like the 1909-S VDB and 1914-D.
Where can I sell rare coins?
Check local coin dealers or online auctions.
