The Lincoln Wheat Penny, a classic piece of U.S. coinage, continues to captivate numismatists and collectors worldwide. First minted in 1909, this coin features Abraham Lincoln on the obverse (front) and wheat stalks on the reverse (back). While millions were produced over the years, certain rare editions, such as the 1943 Bronze Lincoln Wheat Penny, have fetched staggering sums at auction—one reaching an incredible $755,000. Intriguingly, some of these valuable coins may still be in circulation, making them an exciting find for the attentive coin enthusiast.
What Makes the Lincoln Wheat Penny Special?
The Lincoln Wheat Penny was designed by Victor David Brenner to commemorate the centennial of Abraham Lincoln’s birth. It was the first U.S. coin to feature a president’s portrait. Minted from 1909 to 1958, the coin’s design is iconic, with “ONE CENT” prominently displayed between two wheat stalks on the reverse. While many are common, a few rare variations and errors make some coins extraordinarily valuable.
Key Features of the Lincoln Wheat Penny:
- Metal Composition: Typically, these coins were made of 95% copper and 5% tin and zinc.
- Key Dates and Mint Marks: Collectors prize certain dates and mint marks, such as 1909-S VDB (San Francisco mint with designer initials) and the 1944 Steel Penny.
- Weight: Each penny weighs approximately 3.11 grams (copper versions) or 2.7 grams (steel versions).
The $755,000 Lincoln Wheat Penny
The record-breaking Lincoln Wheat Penny was a 1943 Bronze Cent. During World War II, the U.S. Mint shifted to using zinc-coated steel for pennies to conserve copper for war efforts. However, a small number of bronze planchets (blanks) were mistakenly used in 1943, creating an error coin. These rare bronze cents have become some of the most sought-after coins in the world.
Characteristics of the 1943 Bronze Lincoln Wheat Penny:
- Metal Composition: 95% copper, 5% tin and zinc.
- Color: A distinct bronze tone, unlike the silver-colored steel pennies of 1943.
- Weight: Approximately 3.11 grams, heavier than the steel version (2.7 grams).
- Mint Marks: Found in Philadelphia (no mint mark), Denver (D), and San Francisco (S).
- Rarity: Only about 10-20 authentic examples are known to exist.
How to Identify a Valuable Lincoln Wheat Penny
If you’re examining your pocket change or coin collection, keep an eye out for the following:
- Date and Mint Mark: Look for key dates like 1909-S VDB, 1922 Plain, and 1943 Bronze.
- Material: Use a magnet to test for steel versus copper. Steel pennies will stick to a magnet, while copper pennies will not.
- Condition: Coins in mint or near-mint condition fetch higher prices.
- Errors and Variations: Double die obverses, off-center strikes, and repunched mint marks can add significant value.
FAQs About the Lincoln Wheat Penny
1. How can I tell if I have a 1943 Bronze Penny?
Answer: Check the color and weight of the coin. A bronze penny will have a copper tone and weigh about 3.11 grams. A magnet test can also help; bronze pennies are non-magnetic.
2. Why are some Lincoln Wheat Pennies worth so much?
Answer: Rare dates, mint errors, and low mintages contribute to high values. Coins like the 1943 Bronze and 1909-S VDB are highly sought after.
3. Can I find a valuable Lincoln Wheat Penny in circulation?
Answer: While unlikely, it is possible. Some rare coins, including Wheat Pennies, occasionally turn up in pocket change or rolls of pennies.
4. What should I do if I think I have a rare Lincoln Wheat Penny?
Answer: Have the coin authenticated and graded by a professional service like PCGS or NGC. This will determine its authenticity and value.
5. How can I start collecting Lincoln Wheat Pennies?
Answer: Begin by searching through your spare change, visiting coin shops, and attending coin shows. Invest in a coin album to organize and display your collection.