The Lincoln Wheat Penny Valued at $5.9 Million, Still in Circulation

Imagine rummaging through an old coin jar and stumbling across a penny that could change your life—literally. It sounds like a dream, but for a lucky few, it’s been reality. One unassuming 1943 bronze Lincoln Wheat Penny has been valued at a staggering $5.9 million, making it one of the rarest and most coveted coins in American history. What’s even more fascinating? Some of these coins may still be floating around in everyday circulation, hiding in piggy banks, drawers, or change from the local coffee shop.

In this article, we’ll explore the compelling history behind this exceptional penny, what makes it so valuable, where it might be hiding, how to identify one—and what to do if you think you’ve found this tiny, copper-colored jackpot. Plus, we’ve added a FAQs section to answer the most common questions about this once-in-a-lifetime coin find.

The Lincoln Wheat Penny: A Historic Piece of American Change

The Lincoln Wheat Penny debuted in 1909 to celebrate the centennial of President Abraham Lincoln’s birth. Designed by Victor David Brenner, it marked the first time an actual person’s likeness appeared on U.S. currency. The reverse side featured two wheat stalks, giving rise to the “Wheat Penny” nickname. Produced until 1958, these coins are already cherished among collectors, but the 1943 bronze version is the holy grail.

A Wartime Mistake Turns into a Multi-Million Dollar Treasure

During World War II, copper was in high demand for ammunition and electrical wiring. To conserve resources, the U.S. Mint decided to produce 1943 pennies using zinc-coated steel instead of the usual bronze alloy. These “steelies” were patriotic and practical—but mistakes happen. A few bronze planchets from 1942 were accidentally left in the minting machinery. The result? An ultra-rare 1943 penny made from bronze instead of steel.

Only 15 to 20 authentic examples of the 1943 bronze Lincoln Wheat Penny are known to exist, and each is worth a fortune.

What Makes This Penny Worth $5.9 Million?

Several factors contribute to the jaw-dropping value:

• Rarity: Fewer than two dozen authentic bronze 1943 Wheat Pennies are known.

• Historical Context: It’s a direct result of a wartime production error.

• Demand: Collectors worldwide are eager to own a piece of this numismatic mystery.

• Condition: A well-preserved specimen in mint condition fetches the highest bids.

• Anecdotal Fame: With stories like Don Lutes Jr.’s cafeteria coin find, the legend only grows.

The perfect storm of rarity, backstory, and collector enthusiasm has driven this coin’s value into the millions.

How to Identify a 1943 Bronze Lincoln Wheat Penny

So how do you know if you’ve hit the jackpot? Here’s what to look for:

• Date: Must say 1943 under Lincoln’s profile.

• Color: Bronze pennies have a reddish-brown hue; steel ones look silver.

• Magnet Test: Steel sticks to magnets—bronze does not.

• Sound Test: Bronze makes a higher-pitched “ring” when dropped; steel sounds dull.

• Mint Mark: Look below the date for D (Denver), S (San Francisco), or no mark (Philadelphia). All are rare if made of bronze.

Fascinating Finds That Inspire Hope

Perhaps the most famous discovery came from Don Lutes Jr., who found a bronze 1943 penny in his school cafeteria change back in 1947. Although he was told it was worthless, he held onto it until 2018, when it sold for $204,000 at auction.

Another notable story involves a 16-year-old who found one in change and later sold it for a life-changing amount. These tales keep everyday people hopeful and coin jars under constant inspection.

Where Might These Valuable Pennies Be Hiding?

You don’t need to be a professional collector to find one. Here are the best hiding spots:

• Forgotten piggy banks or coin jars

• Estate sales or inherited collections

• Old bank rolls or coin wrappers

• Antique desks, drawers, or basement boxes

People unknowingly use rare coins in daily transactions. Your local bank or grocery store could be the unintentional middleman in a million-dollar transaction.

What to Do If You Think You Found One

1. Don’t Clean It – Cleaning can destroy its value.

2. Handle Gently – Use gloves and place it in a soft coin holder.

3. Get It Authenticated – Contact PCGS or NGC for professional grading and certification.

4. Seek Expert Advice – Consult a numismatic attorney or financial expert for next steps.

5. Research Sale Options – Top auction houses can bring serious money for certified rare coins.

The Exciting World of Coin Collecting

The allure of finding such a valuable penny keeps coin collecting alive for millions of hobbyists. Beyond the potential payday, collectors love the tangible history coins offer. Each coin is a window into America’s past—its economy, its politics, and even its mistakes.

The 1943 bronze Wheat Penny is more than a collector’s item; it’s a living piece of wartime history wrapped in copper and mystery.

Frequently Asked Questions (FAQs)

Q: How many 1943 bronze Lincoln Wheat Pennies exist?
A: Fewer than 20 verified examples are known to exist today.

Q: Can I still find one in circulation?
A: It’s rare but possible. Several have been discovered in pocket change or coin jars.

Q: How can I tell if I have a bronze or steel 1943 penny?
A: Try a magnet. Steel sticks—bronze doesn’t. Also, bronze looks brownish, while steel is silver-colored.

Q: What’s the highest price ever paid for one?
A: One specimen reportedly fetched $5.9million, though verified public auction sales have been in the hundreds of thousands.

Q: Is it illegal to own or sell one?
A: No, it’s legal to own and sell, but you must verify its authenticity before selling.

Q: Where should I sell a rare penny?
A: Use reputable auction houses like Heritage Auctions or Stack’s Bowers, or list with a professional numismatist who specializes in high-end coins.

Final Thoughts

The idea that a single coin could be worth millions captivates people of all ages. The 1943 bronze Lincoln Wheat Penny is a reminder that even the most ordinary objects can carry extraordinary stories—and sometimes extraordinary value.

So next time you receive change or dig through an old coin collection, take a closer look. You might just be holding history—and a small fortune—in the palm of your hand