You’ve probably seen a Lincoln Wheat Penny before—they’re those old copper-colored coins with two stalks of wheat on the back. Most of the time, they’re worth exactly what it says on the front: one cent. But not all pennies are created equal. One very special version from 1943 recently shocked the world by being valued at a jaw-dropping $1.5 million.
How could such a tiny, common coin be worth that much? Let’s look into what makes the 1943 copper Lincoln Wheat Penny so rare—and how one might still be hiding in plain sight.
History
The Lincoln Wheat Penny was first minted in 1909 to honor the 100th birthday of President Abraham Lincoln. It was a big deal back then—it marked the first time a real person (not Lady Liberty) appeared on a U.S. coin.
From 1909 to 1958, these pennies had Lincoln’s face on the front and two wheat stalks on the back, giving them the nickname “Wheat Pennies.” Millions were made, and most are still only worth one cent today. But a few rare versions have turned out to be collector gold.
Rarity
The 1943 copper Wheat Penny is what collectors call a “mint error.” During World War II, copper was needed for bullets and wiring, so the U.S. Mint decided to make pennies out of steel coated with zinc that year. They looked silvery and were easy to spot.
But here’s the twist: a few leftover copper blanks (called planchets) accidentally got mixed in and stamped into pennies in 1943. These few copper versions weren’t supposed to exist at all. And that’s what makes them worth a fortune today.
In fact, one of these rare 1943 copper pennies was recently valued at $1.5 million because of how few exist and how many collectors want one.
Circulation
Yes, believe it or not, some of these ultra-rare pennies may still be floating around in everyday pocket change. Since the difference between a copper and steel penny isn’t super obvious unless you know what to look for, many of them go unnoticed.
Some might still be sitting in old piggy banks or coin jars. It’s like finding a needle in a haystack—but that needle is worth enough to buy a mansion.
Value
What drives the sky-high price of rare coins like this?
- Rarity – Only a handful were made, maybe 10 to 20 known to exist.
- Condition – A pristine penny is worth way more than a scratched-up one.
- Story – Coins with historical errors or odd backstories attract serious attention.
- Demand – There’s a strong community of coin collectors always on the hunt.
If a coin checks all those boxes—like the 1943 copper penny—it becomes a unicorn in the collecting world. That’s why it commands prices well into the six or even seven figures.
Tips
Want to check your own stash? Here’s what to do:
- Look for a 1943 penny that doesn’t stick to a magnet (steel ones do).
- Real copper 1943 pennies will have the same warm tone as earlier Wheat Pennies.
- Check the weight. A copper penny weighs about 3.11 grams; steel ones weigh 2.7 grams.
- Don’t clean or polish the coin—it can destroy the value.
- If you think you’ve found one, take it to a coin dealer or send it to a professional grading service like PCGS or NGC.
The next time you’re sorting through spare change, keep your eyes peeled. That one little coin you almost toss into the tip jar could turn out to be a million-dollar mistake—in the best way possible.
FAQs
What is a 1943 copper penny worth?
It can be worth up to $1.5 million if authentic.
Why are 1943 pennies normally steel?
Copper was used for WWII needs, so steel was used instead.
How can I tell if my penny is copper?
Use a magnet—copper won’t stick, but steel will.
How many 1943 copper pennies exist?
Only about 10 to 20 are known to exist.
Should I clean my old penny?
No, cleaning can lower its value significantly.
