The Lincoln Wheat Penny Worth $960K That’s Still in Circulation

The Lincoln Wheat Penny, minted between 1909 and 1958, is a cherished piece of American numismatic history. Among these, certain rare varieties have garnered significant attention and value.

Notably, a specific 1943 bronze Lincoln Wheat Penny has been valued at approximately $960,000, despite being in circulation for over 80 years.

Understanding the Lincoln Wheat Penny

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

The 1943 Bronze Lincoln Wheat Penny

During World War II, the U.S. Mint transitioned from copper to zinc-coated steel for penny production to conserve copper for wartime needs.

However, a few bronze planchets from 1942 remained in the production line and were mistakenly used in 1943, resulting in the rare 1943 bronze Lincoln Wheat Penny. Only a handful of these coins exist today, making them highly valuable.

Key Features of the 1943 Bronze Lincoln Wheat Penny

Identifying a 1943 Bronze Lincoln Wheat Penny

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To determine if you possess a 1943 bronze Lincoln Wheat Penny:

1. Check the Year: Look for the “1943” date on the obverse.
2. Material Test: Use a magnet; if the coin is attracted, it’s likely made of steel. If not, it may be bronze.
3. Examine the Weight: A bronze penny weighs 3.11 grams, while a steel penny weighs 2.7 grams.

Value Assessment

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

• Mint State (MS): Coins with no wear and minimal imperfections can fetch higher prices.
• Circulated Coins: Even in circulated condition, these pennies can be worth thousands of dollars.

Recent Auction Records

The Lincoln Wheat Penny Valued At $5.1 Million, Still In Circulation

In recent years, 1943 bronze Lincoln Wheat Pennies have sold for substantial amounts:

• A coin sold for $1 million in 2018.
• Another fetched $2.4 million in 2022.

Other Valuable Lincoln Wheat Pennies

Beyond the 1943 bronze variety, other Lincoln Wheat Pennies are also highly sought after:

• 1909-S VDB Penny: Minted in San Francisco with the designer’s initials, only 484,000 were produced.
• 1955 Double Die Penny: Features a noticeable doubling effect on the date and lettering due to a production error.

Preservation and Authentication

Given their value, it’s crucial to handle rare pennies carefully:

• Storage: Use acid-free holders to prevent damage.
• Authentication: Consult professional numismatists or reputable grading services to verify authenticity.

The 1943 bronze Lincoln Wheat Penny exemplifies the allure of rare numismatic finds. While the chances of discovering one in circulation are slim, being informed about its characteristics can be beneficial for collectors and enthusiasts alike.

FAQs

How can I tell if my 1943 penny is bronze or steel?

Use a magnet; if the coin is attracted, it’s steel. If not, it’s likely bronze.

What is the current market value of a 1943 bronze Lincoln Wheat Penny?

Values can range from approximately $950,424 to $2,414,612, depending on condition.

Are there other valuable Lincoln Wheat Pennies?

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