A tiny penny could make you a millionaire or even a billionaire! The Lincoln Wheat Penny, a coin minted from 1909 to 1958, is making headlines after reports claim a rare version sold for a jaw-dropping $880 million. Even more exciting? Experts say some of these valuable coins might still be hiding in your spare change. With stories of lucky finds fueling a nationwide coin hunt, let’s dive into what makes this penny so special and how you can spot one.
A Coin with a Rich History
The Lincoln Wheat Penny was first created in 1909 to honor Abraham Lincoln’s 100th birthday. Designed by Victor David Brenner, it features Lincoln’s profile on the front and two wheat stalks on the back, giving it its name. Most of these pennies are worth just a few cents, but rare versions, especially those with minting errors, can fetch massive sums. The coin that supposedly sold for $880 million is rumored to be a 1943 copper penny, a rare error coin made during World War II when pennies were mostly struck in steel to save copper for the war effort.
Why Is the 1943 Penny So Valuable?
In 1943, the U.S. Mint switched to zinc-coated steel for pennies, but a few copper blanks were accidentally used, creating the ultra-rare 1943 bronze Lincoln Wheat Penny. Fewer than 20 of these coins are known to exist, making them a holy grail for collectors. Their value comes from their scarcity and historical quirk—copper was so precious during the war that these pennies were never meant to be made. While the $880 million price tag sounds staggering, some experts question its accuracy, noting that similar coins have sold for $100,000 to $1.7 million in recent years. Still, the buzz around this coin has people checking their change.
How to Spot a Million-Dollar Penny
Could you have one of these rare pennies? It’s possible, as some are still in circulation, tucked away in coin jars or forgotten drawers. To identify a 1943 copper penny, check the date and material. Steel pennies from 1943 are silver-colored and stick to a magnet, while copper ones are brown and don’t. Weighing the coin can also help—copper pennies are about 3.11 grams, while steel ones are lighter at 2.7 grams. Look for a “D” or “S” mint mark under the date, as coins from Denver or San Francisco can be especially valuable. But beware of fakes, as some crooks plate steel pennies with copper to trick collectors.
| Feature | 1943 Copper Penny | 1943 Steel Penny |
|---|---|---|
| Material | Copper (Bronze) | Zinc-coated Steel |
| Weight | 3.11 grams | 2.7 grams |
| Magnetic | No | Yes |
| Color | Brown | Silver |
The Hunt Is On
Stories of people finding rare pennies keep the excitement alive. In 2019, a family discovered a 1943 copper penny in an old collection, selling it for over $200,000. With some Lincoln Wheat Pennies still out there, collectors are searching bank rolls, flea markets, and even their couch cushions. Experts suggest using a magnifying glass to check dates and mint marks. While finding an $880 million penny is a long shot, even less rare Wheat Pennies from 1909 or 1955 can be worth thousands.
Should You Start Looking?
The idea of a penny worth millions is thrilling, but experts urge caution. “There are million-dollar pennies, but no $100 million pennies,” says coin expert Donn Pearlman, debunking some hyped-up claims. Still, checking your change is a fun, low-risk treasure hunt. Whether you find a 1943 copper penny or a less rare gem, the Lincoln Wheat Penny reminds us that small things can hold big value. So, next time you get change, take a closer look you might just strike it rich