The Lincoln Wheat Penny is one of the most iconic coins in American history. Introduced in 1909 to honor President Abraham Lincoln’s centennial birth year, it was the first U.S. coin to feature a president’s portrait. Over a century later, this penny remains a favorite among coin collectors, especially rare versions that can fetch astonishing prices. One such coin, a 1943 Lincoln Wheat Penny made from bronze, is valued at an incredible $900,000 and may still be in circulation.
The Story Behind the Lincoln Wheat Penny
The Lincoln Wheat Penny was minted from 1909 to 1958. Its design features Lincoln’s profile on the obverse (front) side, created by sculptor Victor David Brenner. The reverse (back) side displays two stalks of wheat, symbolizing prosperity. This design was replaced in 1959 by the Lincoln Memorial reverse.
While most Lincoln Wheat Pennies are worth only a few cents today, certain rare variations have become highly valuable. Among them, the 1943 bronze penny is one of the most sought-after.
Why the 1943 Bronze Penny is Rare
During World War II, copper was in high demand for military supplies, particularly ammunition. To conserve copper, the U.S. Mint began producing pennies from zinc-coated steel in 1943. However, a few pennies were mistakenly struck using leftover bronze planchets (the metal discs used for coinage) from 1942.
These bronze pennies are incredibly rare because only a handful were produced, and even fewer have been discovered. Experts estimate that fewer than 20 authentic 1943 bronze pennies exist, making them highly desirable among collectors.
Value of the 1943 Bronze Penny
The 1943 bronze Lincoln Wheat Penny is valued at up to $900,000, depending on its condition. In 2019, a near-perfect example of this coin was sold at auction for $840,000, breaking records for a one-cent piece.
Factors that contribute to the value of this penny include:
- Rarity: With so few in existence, the demand among collectors is extremely high.
- Condition: Coins in better condition fetch higher prices. A penny with minimal wear can be worth significantly more than one that has been heavily circulated.
- Authentication: Professional grading and authentication by organizations like the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) increase a coin’s value.
How to Identify a 1943 Bronze Penny
Identifying a 1943 bronze penny can be tricky but is worth the effort due to its potential value. Here are some tips:
- Material: Use a magnet to test the coin. A steel penny will stick to the magnet, while a bronze penny will not.
- Color: Bronze pennies have a distinctive reddish-brown hue, unlike the silvery appearance of steel pennies.
- Mint Mark: Look for a small “D” (Denver) or “S” (San Francisco) under the year. Some rare 1943 bronze pennies have these marks.
If you believe you’ve found a 1943 bronze penny, have it authenticated by a reputable coin expert or grading service.
Are Rare Lincoln Pennies Still in Circulation?
Surprisingly, rare coins like the 1943 bronze penny may still be in circulation. Many people overlook the value of older coins, using them as regular currency or leaving them in jars and drawers. Checking your loose change or coin collections could yield a valuable find.
In addition to the 1943 bronze penny, other valuable Lincoln Wheat Pennies include:
- 1909-S VDB Penny: Only 484,000 were minted, making it one of the rarest Wheat Pennies.
- 1914-D Penny: With a low mintage of 1.2 million, this penny is highly sought after.
- 1922 No D Penny: This penny lacks the Denver mint mark, a mistake that adds to its rarity.
How to Preserve and Store Rare Coins
If you find a potentially valuable coin, proper storage is essential to maintain its condition and value.
- Use Protective Cases: Store coins in acid-free holders or airtight cases to prevent damage.
- Avoid Cleaning: Cleaning a coin can reduce its value, especially for collectors.
- Keep in a Safe Place: Store your coins in a secure location, such as a safe or safety deposit box.
The Appeal of Coin Collecting
Coin collecting is a rewarding hobby that combines history, art, and the thrill of discovery. The Lincoln Wheat Penny, with its historical significance and potential value, is a favorite among enthusiasts. Collectors often start with circulated pennies and gradually build a collection of rarer coins.
Conclusion
The Lincoln Wheat Penny, particularly the rare 1943 bronze version, continues to capture the imagination of collectors and history enthusiasts alike. With a value reaching $900,000, this penny is a testament to how a simple piece of currency can become a treasured artifact. Who knows? That old jar of coins sitting on your shelf might hold a piece of history worth a fortune. Start checking your change today—you might just strike gold!
