The Lincoln Wheat Penny, minted from 1909 to 1958, remains a cornerstone of American numismatics. While many of these coins are commonplace, certain rare specimens have fetched staggering sums at auctions, with some valued in the hundreds of thousands of dollars. Remarkably, a few of these valuable pennies might still be in circulation today.
Understanding the Lincoln Wheat Penny
Introduced in 1909 to commemorate the centennial of Abraham Lincoln’s birth, the Lincoln Wheat Penny features Lincoln’s profile on the obverse and two wheat stalks on the reverse, symbolizing national prosperity. Designed by Victor David Brenner, the coin was the first U.S. currency to depict a historical figure.
The 1943 Bronze Lincoln Wheat Penny: A Numismatic Rarity
During World War II, copper was essential for wartime production, leading the U.S. Mint to produce pennies from zinc-coated steel in 1943. However, a few bronze planchets from 1942 were mistakenly used, resulting in the rare 1943 bronze pennies. These error coins are among the most coveted by collectors due to their rarity and historical significance.
Notable Auction Sales
Several 1943 bronze Lincoln Wheat Pennies have commanded impressive prices at auctions:
- 1943-D Bronze Cent: This unique penny, minted in Denver, sold for $840,000.
- 1943-S Bronze Cent: A specimen from the San Francisco Mint fetched $504,000.
- 1943 Bronze Cent (Philadelphia): One of approximately 20 known from the Philadelphia Mint sold for $372,000.
Identifying a 1943 Bronze Lincoln Wheat Penny
To determine if you have one of these rare coins, consider the following:
- Date: The coin should bear the year 1943.
- Magnet Test: Steel pennies are magnetic; bronze pennies are not. If a 1943 penny does not stick to a magnet, it might be bronze.
- Weight: Bronze pennies weigh approximately 3.11 grams, whereas steel pennies weigh about 2.7 grams.
Other Valuable Lincoln Wheat Pennies
Beyond the 1943 bronze penny, other Lincoln Wheat Pennies are highly sought after:
- 1909-S VDB: The inaugural year of the Lincoln cent included the designer’s initials, “VDB,” on the reverse. The San Francisco Mint produced only 484,000 of these coins, making them rare. In excellent condition, they can command prices up to $117,500.
- 1955 Doubled Die Obverse: This error coin displays a noticeable doubling of the date and lettering on the obverse. Well-preserved examples have sold for as much as $288,000.
- 1922 No D Strong Reverse: Due to a minting anomaly, some 1922 pennies lack the “D” mint mark. These coins are highly prized, with values reaching up to $30,000.
Notable Lincoln Wheat Pennies and Their Auction Prices
| Year | Mint Mark | Notable Feature | Auction Price |
|---|---|---|---|
| 1943 | D | Bronze composition | $840,000 |
| 1943 | S | Bronze composition | $504,000 |
| 1943 | None | Bronze composition | $372,000 |
| 1909 | S VDB | Designer’s initials present | $117,500 |
| 1955 | None | Doubled Die Obverse | $288,000 |
| 1922 | None | No “D” mint mark | $30,000 |
Protecting and Verifying Your Coin
If you believe you’ve found a valuable Lincoln Wheat Penny:
- Handle with Care: Avoid cleaning the coin, as this can diminish its value.
- Authentication: Consult a reputable coin dealer or a professional grading service, such as the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS), to verify authenticity.
- Appraisal: Obtain a professional appraisal to determine the coin’s market value.
While the chances of finding a million-dollar penny in your pocket are slim, the possibility adds excitement to every handful of change. Regularly inspecting your coins could unearth a hidden treasure, especially if you come across a rare Lincoln Wheat Penny.
FAQs
What makes the 1943 bronze Lincoln Wheat Penny so valuable?
Its value stems from a minting error during World War II when pennies were supposed to be made from steel. A few bronze planchets were mistakenly used, resulting in extremely rare coins.
How can I tell if my 1943 penny is bronze or steel?
Perform a magnet test: steel pennies are magnetic, while bronze pennies are not. Additionally, bronze pennies weigh about 3.11 grams, compared to 2.7 grams for steel.
Are all 1909 pennies with “VDB” initials valuable?
Not all. The 1909-S VDB pennies are particularly valuable due to their low mintage of 484,000. In contrast, the Philadelphia Mint produced millions without the “S” mint mark.
