The Lincoln Wheat Penny is one of the most famous coins in American history. While most of these pennies are only worth a few cents, some rare versions have become highly valuable. One special Lincoln Wheat Penny has been valued at $700,000, and there is a chance that it is still in circulation.
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first introduced in 1909 to honor the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person. The front of the coin (obverse) has a portrait of Lincoln, while the back (reverse) features two wheat stalks, which is why it is called the “Wheat Penny.” This design was used until 1958, when it was replaced by the Lincoln Memorial design.
Why is This Lincoln Wheat Penny Worth $700K?
While billions of Lincoln Wheat Pennies were minted, certain rare versions have become extremely valuable. The 1943 Bronze Lincoln Wheat Penny is one of the most sought-after coins.
During World War II, the U.S. Mint switched from copper to steel to save metal for the war. However, a few bronze pennies were mistakenly made in 1943. These rare pennies have become collector’s items, and one of them was sold for as much as $700,000 at an auction.
Is This Rare Penny Still in Circulation?
There is a small possibility that a rare Lincoln Wheat Penny could still be in circulation. Many people do not closely examine their pennies, which means that an extremely valuable coin could be sitting in a jar of loose change, a cash register, or even in someone’s pocket.
How to Identify a Valuable Lincoln Wheat Penny
If you want to check if you have a rare Lincoln Wheat Penny, look for these features:
- Date and Material: The 1943 bronze penny is one of the rarest. If you find a 1943 penny, try using a magnet. If it sticks, it is a common steel penny. If it does not, it could be the rare bronze version.
- Minting Errors: Some pennies have double strikes, missing letters, or off-center designs, which can increase their value.
- Condition: A well-preserved penny is more valuable than a worn-out one.
Conclusion
The Lincoln Wheat Penny remains a piece of American history, and some rare versions are worth a fortune. If you take the time to check your pennies, you might just find a hidden treasure worth up to $700,000!
Disclaimer: The prices mentioned for rare coins, including the Lincoln Wheat Penny, are not guaranteed and may not be entirely accurate due to market fluctuations and varying appraisals.
