Lincoln Wheat Penny Worth $980K: Could It Still Be Out There?

Lincoln Wheat Penny Worth $980K: The Lincoln Wheat Penny became widely popular with collectors after production started in 1909 and lasted through 1958. Even though most of these pennies exist as regular versions certain rare variations now sell for extremely high amounts starting at $980,000.

In this article, we will talk about the characteristics of these precious coins and which rare coins may still be in circulation today.

1943-D Bronze Lincoln Cent: A Numismatic Rarity

During World War II, the U.S. Mint changed the composition of the penny with the aim of saving copper for military needs. In 1943, most pennies were minted on zinc-coated steel plankets. But a minting error led to some pennies being mistakenly minted on older bronze plankets. The most famous and rare of these is the 1943-D Bronze Lincoln Cent.

This coin was minted in Denver and its unprecedented rarity makes it extremely valuable among collectors. In 2021, a 1943-D bronze Lincoln cent with an MS64 brown grade sold at auction for $840,000.

Other Notable High-Value Lincoln Wheat Pennies

In addition to the 1943-D bronze cent, other Lincoln wheat pennies have also sold for high prices at auction. Some prominent examples are as follows:

YearMint MarkCompositionNotable FeatureAuction Record
1943None (Philadelphia)BronzeMinting error on bronze planchet$372,000
1944SSteelStruck on steel planchet instead of bronze$408,000
1958None (Philadelphia)CopperDoubled Die Obverse (DDO)$336,000
1909S VDBCopperDesigner’s initials prominently displayed$108,000

The high value of these coins is due to their rarity, minting errors, and historical references.

Could these rare pennies still be in circulation today?

With such rarity and high value, statistics would strongly favor predicting the loss of this awesome penny into today’s collection statistics; however, the fact that it is still circulating cannot be ruled out. The high value on rare coin items was the result of their small minting percentage and by happenstance getting to the hands of collectors throughout time.

Some have funny stories about finding rare coins in their pockets or from acquired coins. Thus, it may be worth going through your albums of penny collections that have been there since 1940s and 1950s.

How to Identify a Valuable Lincoln Wheat Penny

How to Identify a Valuable Lincoln Wheat Penny

If you want to know if you have a valuable Lincoln Wheat Penny, keep the following points in mind:

  • Date and Mint Mark: Coins from certain years and mint marks are more valuable because they had fewer production runs. For example, the 1909-S VDB penny is particularly sought after due to its limited production.
  • Errors and Varieties: If your coin has anomalies such as doubled dies, repunched mint marks or off-metal strikes, this can increase its value.
  • Condition: The quality of the coin, which ranges from ‘Good’ (G) to ‘Mint State’ (MS), affects its price. Coins that are in better condition are worth more.
  • Composition: Some years had anomalies in composition, such as the 1943 bronze and 1944 steel cents. Identifying these could help you find a rare coin.

FAQs On Lincoln Wheat Penny Worth $980K

Q. How to Identify a 1943-D Bronze Lincoln Cent?

A. This coin is different from other 1943 coins because it is minted in bronze, while other pennies are minted in steel. It has a “D” mint mark and is heavier and slightly shiny.

Q. Can Lincoln Wheat Pennies Still Be in Circulation Today?

A. Rare pennies are difficult to identify, but if you have old or unusual pennies, make sure to give them a good look. Sometimes people hide these coins in their pockets.

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