Rare Lincoln Wheat Penny Worth $1.7 Million Could Be in Your Pocket

Could a Rare Lincoln Wheat Penny Be in Your Pocket?

Most pennies are common and worth only face value. But a few Lincoln wheat pennies are extremely rare and have sold for large sums — in one famous case, about $1.7 million.

This guide explains how to check coins quickly, what to look for, and what steps to take if you suspect you have a rare Lincoln wheat penny.

Which Lincoln Wheat Penny Could Be Worth $1.7 Million?

The phrase “Rare Lincoln Wheat Penny” covers several possible coins: error strikes, off-metal planchets, and scarce mint dates. A small number of Lincoln cents from the wheat penny era (1909–1958) are known to fetch very high prices.

One of the most valuable types is the 1943 bronze (copper) Lincoln cent, produced when a few bronze planchets were mistakenly used instead of the steel planchets intended for 1943 cents. Examples of these errors have reached prices in the low millions at auction.

Key Identifiers for a Rare Lincoln Wheat Penny

Use these practical checks to screen a coin fast. They are safe, non-destructive, and work in casual settings.

• Check the date and mintmark. Look at the obverse for the year (1909–1958 for wheat backing) and the mint mark under the date.
• Note the color. Bronze/copper coins are reddish-brown. A 1943 penny should be silver-colored (steel) unless it is an error.
• Do the magnet test. Steel 1943 pennies will stick to a magnet. An off-metal bronze 1943 will not.
• Examine the edges and lettering. Errors often show unusual planchet flow, doubling, or misplaced elements.

How to Inspect a Lincoln Wheat Penny in Your Pocket

Carry these simple tools or use what’s available at home for a quick inspection.

• Magnifying glass or jeweler’s loupe (10x is fine).
• Small magnet (refrigerator magnets work for a quick check).
• Clean, well-lit surface to view both sides of the coin.

Steps:

1. Wash or dry your hands so oils don’t obscure details when you examine the coin.
2. Look at the date and mintmark under a magnifier.
3. Check the coin color and try the magnet test; note any unexpected results.
4. Search for doubling, die cracks, or unusual features on both sides.

Common Rare Types to Watch For

• 1943 Bronze (off-metal) Lincoln cent — extremely rare and highly valuable.
• 1955 Double Die Obverse — obvious doubling on the date and Liberty.
• 1909-S VDB — scarce first-year Lincoln cent with designer initials on the reverse.
• Error coins — struck-through grease, off-center strikes, or clipped planchets.

Authentication and Grading Steps

If your quick checks raise suspicion, follow these steps to authenticate the coin properly. Proper grading dramatically affects value.

• Do not clean the coin. Cleaning often destroys value and leaves visible damage.
• Take clear photos of both sides under good light, with close-up images of the date and mintmark.
• Find a reputable third-party grading service, such as PCGS or NGC, for professional authentication and grading.
• Ask for a cost estimate before submission; grading services charge fees and turnaround times vary.

Where to Sell a Rare Lincoln Wheat Penny

Once authenticated, there are a few common sale channels. Choose based on convenience, exposure, and fees.

• Auction houses specializing in coins: good exposure for very high-value coins.
• Reputable coin dealers: faster sales, often at a negotiated price.
• Online marketplaces: eBay or specialized auction platforms — use secure payment methods and verified buyers.

For coins with potential multi-million-dollar value, auction houses or private treaty sales through well-known dealers are typically the safest routes.

Protecting Yourself From Scams

High-value coins attract fraud. Take precautions before selling or sharing details.

• Get multiple opinions and price estimates from reputable sources.
• Use insured shipping and verified payment methods for transactions.
• Avoid unsolicited buyers and high-pressure offers.

Case Study: A 1943 Bronze Penny Discovery

A collector found a silver-looking 1943 penny in a jar of mixed change and noticed it did not stick to a magnet. After magnified inspection, unusual coloration revealed a bronze planchet. The collector submitted the coin for professional grading.

The coin was authenticated as a 1943 bronze Lincoln cent and sold through an auction house. The final sale price approached figures reported in high-value case examples for similar off-metal 1943 pieces.

Lessons from the case: simple tests can flag important coins, and professional verification is essential before publicizing or selling a potentially valuable piece.

Final Checklist: What to Do If You Find a Rare Lincoln Wheat Penny

• Do not clean the coin; handle by the edges.
• Perform the magnet and visual checks described above.
• Photograph the coin clearly and gather any provenance if available.
• Seek authentication from a reputable grading service.
• Obtain multiple sale options from trusted dealers or auction houses.

Finding a rare Lincoln wheat penny is rare, but simple checks and the right next steps can protect and maximize its value. If you think you might have one, follow the verification steps before making decisions.