Have you ever looked closely at the spare change in your pocket or purse? You might want to start. A small, old penny from the United States — the Lincoln Wheat Penny — could be worth as much as $300,000 today. That’s not a myth. It’s a rare coin, and some people are unknowingly carrying it around or have one tucked away in a jar at home.
Here’s everything you need to know about this coin and how to find out if you’ve got one.
History
The Lincoln Wheat Penny was introduced in 1909 by the U.S. Mint to commemorate Abraham Lincoln’s 100th birthday. It features Lincoln’s portrait on one side and two wheat stalks on the reverse — hence the nickname “Wheat Penny.”
These coins were made until 1958, after which the reverse design was replaced. While most Wheat Pennies are only worth a few cents, some rare versions are incredibly valuable — especially one from 1943.
Rarity
In 1943, during World War II, the United States needed copper for military equipment. To conserve the metal, the U.S. Mint produced pennies using zinc-coated steel. These coins had a silver appearance instead of the usual copper color.
But by accident, a few 1943 pennies were still struck on leftover copper blanks. These error coins — the 1943 copper Wheat Pennies — are extremely rare. Only a few dozen are believed to exist today.
Because of their rarity and historical background, collectors are willing to pay enormous amounts for them. In fact, some of these coins have sold for over $300,000 at auctions.
Identification
Wondering how to spot one of these valuable coins? Here’s a quick guide:
| Feature | What to Look For |
|---|---|
| Year | The coin must say “1943” |
| Color | It should be copper-brown, not silver |
| Magnet Test | It should not stick to a magnet |
| Material | Steel coins stick; copper coins do not |
If your 1943 penny is reddish-brown and doesn’t stick to a magnet, you might be holding a treasure.
What to Do If You Find One
If you suspect you have a 1943 copper Wheat Penny, do not clean or polish it. Cleaning can damage the surface and reduce the value.
Instead, follow these steps:
- Take it to a certified coin dealer or professional numismatist.
- Ask for a formal appraisal or authentication.
- If it’s genuine, consider selling it through an auction house or to a serious collector.
Even if it’s not the exact 1943 copper version, older Wheat Pennies can still be worth something, especially if they’re rare mintings or in good condition.
Why It’s So Valuable
Collectors are drawn to coins with mistakes, history, or rarity — and the 1943 copper penny checks all three boxes. It wasn’t supposed to be made, only a few exist, and it’s tied to a significant global event: World War II.
Owning one is like having a small piece of history in your hands, which is why some collectors are willing to pay a fortune.
Final Thought
You never know what’s hiding in your coin jar or loose change drawer. Coins like the 1943 Lincoln Wheat Penny prove that something small and ordinary can turn out to be extremely valuable. If you come across a penny from 1943 that looks coppery, test it with a magnet and check its color.
That old penny might just change your life.
FAQs
What is the rare 1943 penny worth?
It can be worth $300,000 or more depending on condition and demand.
How do I know if my 1943 penny is copper?
Check the color and use a magnet — copper ones won’t stick.
Can I clean the coin to make it look better?
No. Cleaning it may lower its value significantly.
Where can I get a rare penny verified?
Visit a professional coin dealer or numismatist for authentication.
Are there other rare Wheat Pennies?
Yes, several early and error versions are valuable to collectors.
