Rare Lincoln Wheat Penny Worth $1.7 Million Still Circulating

Collectors and casual savers occasionally find coins worth far more than their face value. One of the most famous is a rare Lincoln Wheat penny that has sold for about $1.7 million. Knowing how to spot it can make a big difference if you find unusual pennies in circulation.

Why the Rare Lincoln Wheat Penny Worth $1.7 Million Still Circulating Matters

Rare Lincoln Wheat pennies are important because they show how small minting errors and historical production choices can create huge value. The most notable example is a 1943 bronze (copper) Lincoln cent, which is an error coin among mostly steel cents produced that year.

These coins are exceptionally rare, and a verified example has brought prices near $1.7 million at private sales and auctions. That makes it worth learning simple checks you can do at home before paying for professional authentication.

How to Identify the Rare Lincoln Wheat Penny Worth $1.7 Million

Identification starts with visual cues and a few basic tests. Follow these steps when you encounter a Lincoln Wheat penny that looks unusual.

Check the date and design: Look for the wheat ears on the reverse and a clear date. The 1943 bronze error stands out because most 1943 cents are steel.
Observe color: Genuine bronze/copper coins are reddish-brown. A 1943 bronze will look copper, not silver-gray like the steel cents from 1943.
Do a magnet test: Steel cents are magnetic; copper is not. A small refrigerator magnet will cling to a steel 1943 cent but not to a bronze one.
Weigh the coin: Steel cents from 1943 weigh about 2.7 grams. Bronze cents weigh about 3.11 grams. A precise scale helps.
Inspect mint marks and strike quality: Check the region near the date for mint marks like D or S. Errors and unusual strikes are more valuable when the rest of the coin is in good condition.

Practical Tests to Do at Home

You do not need expensive tools to perform basic checks. Use items you likely have at home to eliminate common fakes and steel coins.

Magnet test: As noted, a magnet reveals steel cents. If the coin is magnetic, it is almost certainly a common 1943 steel cent.
Weight check: A digital kitchen or postal scale that measures to 0.01 grams is sufficient. Compare to 3.11 g (bronze) and 2.7 g (steel).
Color and surface: Look for reddish hues and natural wear. Artificially altered or plated coins can sometimes mimic copper color.

Common Mistakes to Avoid

People often assume unusual color alone means rarity. Plating, chemical treatments, and circulation wear can change appearance. Always combine tests before concluding a penny is the rare bronze 1943 example.

Another mistake is handling the coin too much. Oils from your fingers can affect grading later. Use gloves or hold by the edge when showing or testing the coin.

What to Do If You Think You Found the Rare Lincoln Wheat Penny

Take careful, measured steps to preserve value and verify authenticity. Follow this sequence to avoid common pitfalls.

Stop using the coin. Keep it in a protective holder like a flip or small plastic capsule.
Document the find. Note where and when you found it and take clear photos of both sides under good lighting.
Do basic home tests (magnet, weight, visual) but avoid cleaning the coin. Cleaning will reduce value.
Seek professional authentication. Contact a reputable grading service such as PCGS or NGC, or consult a trusted local coin dealer who can recommend third-party grading.
Get multiple opinions if necessary. Authentication and grading affect market price and buyer confidence.

Did You Know?

The U.S. Mint produced steel cents in 1943 because copper was needed for wartime production. A very small number of bronze planchets mistakenly got struck that year, creating the rare error coins collectors prize today.

Other Valuable Lincoln Wheat Pennies to Watch For

While the 1943 bronze error is among the most valuable, other wheat pennies can fetch high prices. Examples include:

1909-S VDB: A key date for Lincoln cents, especially in high grade.
1914-D: Scarce and popular with collectors in fine condition.
1955 doubled die obverse: A famous mis-strike that shows strong doubling on date and lettering.

Knowing the key dates and common error types helps you prioritize which coins to have graded.

Case Study: How One Coin Went From Pocket Change to Major Sale

A documented example involved a circulated Lincoln cent that looked copper despite being dated 1943. The finder did simple home checks and then sent the coin to a professional grading service for authentication. After confirmation that it was a rare 1943 bronze cent, the coin sold privately for a seven-figure sum.

This case shows the importance of not assuming value based on appearance alone and of using authenticated services before pursuing a sale.

Final Practical Tips

Always treat a potentially valuable coin carefully. Do not clean or alter it, and document your discovery with photos and notes. Simple tests at home can rule out common coins and avoid unnecessary expenses.

If you think you have the rare Lincoln Wheat penny worth $1.7 million, get professional authentication and multiple appraisals. The steps you take early can protect value and improve outcomes when selling or insuring the coin.

With a little knowledge and caution, that ordinary handful of pennies might just contain something extraordinary.