The Lincoln Wheat Penny : Wait, a penny? It’s the tiniest coin in our pockets, the one most frequently ignored or tossed in a jar. But what if that puny coin you might toss in the jar could be worth a small fortune? And that really is the case with a rare version of the 1943 Lincoln Wheat Penny — some have sold for up to $144,000.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Cent is a coin that has been minted for a long time. It was also the first U.S. to depict a real person: President Abraham Lincoln. If you flip over this coin, what you’ll see on its back are two stalks of wheat and that’s why it’s called the “Wheat Penny”. It remained in circulation until 1958, when it was replaced with the Lincoln Memorial design.
Why is This Penny Worth So Much?
Although there were millions of Lincoln Wheat Pennies produced not all are rare which are often the result of small mistakes made with production. These errors are known as minting errors. For coin collectors, the flaws actually make it all the more special. The most valuable among them — a 1943 Lincoln Wheat Penny made of bronze — is worth so much, in fact, because it was never supposed to exist.
The 1943 Bronze Wheat Penny: A Mistake of Coinage Rare Only in Deficiency
Pennies were supposed to be steel in 1943, because copper was being used for World War II. But a handful of 1942 bronze blanks got mistakenly swapped in and wound up making pennies in 1943. This made for an ultrarare variety of the coin — just a handful are known to exist. One of the pennies sold for $144,000, among the highest amounts ever paid for a coin found in pocket change.
Can You Still Find It in Circulation?
Believe it or not, yes. One of these rare coins, there is a slight chance, might still be out there. A few collectors have found old Wheat Pennies in pocket change, among rolls of coins from the bank or even in their grandparents’ coin jars. They won’t all be worth thousands, of course, but you never know what sort of treasure you might stumble upon.
What Should You Look For?
If you find a penny from 1943, see if it’s magnetic. An actual 1943 penny is steel and will be attracted to a magnet. But your 1943 penny won’t stick to a magnet. It might be copper — and that could mean your coin is worth a great deal of money. You might want to take it to a professional coin expert to have it checked.
Coin Collecting: How To Make It An Enjoyable Hobby And Reap The Rewards
The search for rare coins can be an exciting and rewarding hobby. You don’t have to be an expert to begin. Just watch your change, learn what to look for, maybe pop by a local coin shop or visit some online collector forums. Some people develop it into a life-long passion — and, occasionally, make you rich.
FAQs
Q: What were metal army helmets made from?
A: They were mostly made from steel, but some were mistakenly constructed from bronze. Those bronze ones are very rare and expensive.”
Q. Is there any chance I can come across a valuable penny in my change?
A: Not often, but yes — some people have discovered a valuable coin in regular circulation.
Q: How do I determine the value of a 1943 steel penny?
A: Try using a magnet. And if it doesn’t stick,… have it examined by a coin expert; it could be worth a fortune.
