The Lincoln Wheat Penny Worth $240K That’s Still in Circulation

The Lincoln Wheat Penny, minted between 1909 and 1958, is a cherished piece of American numismatic history. While most of these pennies are valued at their face value of one cent, certain rare varieties have fetched impressive sums at auctions.

Notably, a specific 1943 Copper Wheat Penny has been known to sell for up to $240,000, and remarkably, some of these coins are still in circulation today.

Understanding the Lincoln Wheat Penny

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Introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny features a portrait of Lincoln on the obverse and two stalks of wheat on the reverse, symbolizing prosperity and peace. This design remained unchanged until 1958, when it was replaced by the Lincoln Memorial design.

The 1943 Copper Wheat Penny: A Rare Find

Among the various Lincoln Wheat Pennies, the 1943 Copper Wheat Penny stands out due to its rarity and significant value. During World War II, the U.S. Mint switched to zinc-coated steel planchets for penny production to conserve copper for the war effort.

However, a few copper planchets from 1942 remained in the minting press, leading to the accidental production of approximately 30 copper pennies in 1943. These coins are highly sought after by collectors and can command prices up to $240,000, depending on their condition.

Identifying the 1943 Copper Wheat Penny

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To determine if you have a 1943 Copper Wheat Penny, consider the following:

• Date and Mint Mark: The coin should be dated 1943. Mint marks (D for Denver, S for San Francisco) are located below the date.
• Weight: A standard copper penny weighs about 3.11 grams. The 1943 copper penny, being made of copper, will have a similar weight, whereas the steel pennies weigh around 2.7 grams.
• Color: Copper pennies have a reddish-brown hue, while steel pennies are silver-colored.

Value Assessment

The value of a 1943 Copper Wheat Penny depends on its condition:

• Good (G-4): $100,000
• Fine (F-12): $150,000
• Extremely Fine (EF-40): $200,000
• Uncirculated (MS-60): $240,000

Note: These values are approximate and can vary based on market demand and coin condition.

Other Valuable Lincoln Wheat Pennies

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While the 1943 Copper Wheat Penny is the most famous, other varieties are also valuable:

• 1909-S VDB Penny: Minted in San Francisco, this penny features the designer’s initials (VDB) on the reverse. Only about 484,000 were produced, making it rare and valuable.
• 1955 Double Die Penny: This coin exhibits a noticeable doubling of the date and lettering due to a minting error, making it highly collectible.

Preserving Your Coin

If you believe you have a rare Lincoln Wheat Penny, handle it carefully:

• Storage: Place the coin in a protective holder, such as a 2×2 holder or capsule, to prevent damage.
• Cleaning: Avoid cleaning the coin, as this can reduce its value.
• Authentication: Consult a professional numismatist or reputable coin dealer for authentication and valuation.

The discovery of a rare Lincoln Wheat Penny, especially the 1943 Copper variety, can be a thrilling experience.

While these coins are exceedingly rare, they occasionally surface in circulation. If you find one, it’s advisable to have it professionally evaluated to understand its potential value.

FAQs

How can I tell if my 1943 penny is made of copper?

Use a magnet; steel pennies are magnetic, while copper pennies are not.

Are there other years with valuable Lincoln Wheat Pennies?

Yes, the 1909-S VDB and 1955 Double Die Pennies are also highly valuable.

Should I clean my rare penny to increase its value?

No, cleaning can damage the coin and decrease its value.