The Lincoln Wheat Penny Valued at $1.7 Million, Still in Circulation

A penny that can make you a millionaire – Know the unique story of Lincoln Wheat Penny Most of us never pay special attention to the coins kept in our pockets or purses. But what if there is a penny hidden in those coins that can make you a millionaire? This is not a joke, but the true story of those rare “Lincoln Wheat Pennies”, whose auction price has reached from $8,70,000 to $1.7 million (ie about $14 million !). And the most surprising thing? Some of these coins still roam around in the pockets of average men!

So let’s get acquainted with what this Lincoln Wheat Penny is about, why it’s so expensive, and how you can tell if you have a penny of this kind or not.

What is Lincoln Wheat Penny?

Lincoln Wheat Penny is also called “Wheat Cent”. It was 1909, when a century had elapsed after the birth of Abraham Lincoln, the 16 President of America. This was to be America’s first coin on the face of which a president was printed; and it was designed by a designer, Victor David Brenner.

On the face of the coin, Lincoln appears and on the reverse side two wheat ears, which symbolically mean prosperity. This design lasted until 1958 and in 1959 the image of Lincoln Memorial was placed on the back side of the coin.

Why is Lincoln Wheat Penny so valuable?

Out of these coins made in millions, there are only a few coins that have sold for crores. Another compelling reason would be the ‘Bronze Wheat Penny,’ minted in 1943.

During World War II, America required copper for gun and equipment manufacturing. Hence, in 1943, pennies were made of steel which looked like silver and was attracted to the magnet. But by mistake, some pennies were made on old copper blanks (raw structure of the coin). This ‘mistake’ gives them a value of millions today.

An auction of one such bronze penny from 1943 held in 2010 fetched an incredible price of $1.7 million-about ₹14 crores. Another similar piece was sold in 2019 for around $870,000.

Is there a $5 million or $300 million penny?

There are some rumors that a penny worth $5 million or $300 million is also present in the market. But professional coin experts and grading organizations do not confirm this. Till date, no such coin has been found, which can prove these claims right.

Are these rare coins still among us?

Theoretically possible. Maybe a little bit of Lincoln Wheat Pennies went out circulation in common use today, although this is a pretty rare occurrence. Many people spend such coins in the open market without knowing their real valueIt was mentioned by someone in an ancient newsgroup that someone has done mathematics for Jacobian conjecture so as to provide evidence that places Enoxilis in Weil.

More Rare US Coins

Lincoln Wheat Penny is not the only coin that has been sold for crores. There are many other coins in America whose price will shock you:

1. 1933 Double Eagle Coin

It is counted among the rarest coins in the world. Only 12 copies of it exist. This coin was auctioned in 2021 and its price was $18.8 million (about ₹155 crores). This coin has a design error, in which the shape of the eagle’s two tails is visible.

2. 1794 Flowing Hair Silver Dollar

It was the first silver dollar made after America’s independence. It is considered the second rarest US coin. In 2010, it sold for $10 million.

Can modern coins be valuable?

Yes, it is not necessary that only old coins are valuable. Such minting mistakes have resulted in certain coins becoming so rare that they command astronomical prices within the short span of 50 years since a tiny error occurred in their minting:

• 1972 Doubled Die Lincoln Penny – Price up to $ 80,000
• 2005-D “Speared Bison” Nickel – Price up to $1,25,000
• 1982 No Mint Mark Roosevelt Dime – Price up to $8 million

These coins are special because technical errors were made during minting, which made them special.

How to identify whether you have a rare coin or not?

If you have a 1943 penny and it looks like copper (not silver), then do a simple test:

• Take a magnet and move it near the coin.
• If the coin sticks to the magnet, then it is made of steel and is normal.
• But if it does not stick and looks like copper – then you may have a rare bronze penny!

Be careful: There is a lot of fake coins in the market. Many people engrave the date 1943 on old copper coins or coat steel coins with copper. So before making any decision, get it checked from professional grading institutes.

Where to get the coin verified?

You must send your hypersensitive treasures to the grading service of your selection at PCGS.

NGC (Numismatic Guaranty Corporation)

These institutions not only decide whether the coin is real or not, but also tell its correct market price.

Conclusion

There are many coins that come in high value or with high rarity value, some perhaps lying beneath trash, collecting years of dust, where nobody would notice them. There may be someone who finds such a rare coin. There are some extraordinary treasures, which just sometimes, hide in plain sight, as shown in the case of the $1.7 million Lincoln Wheat Penny. While most people overlook the coins in their pockets, very few lucky ones have been able to discover these rare and valuable pennies, thus transforming the existence of common change into life-changing fortunes. Whether you’re a seasoned collector or simply curious, it’s always worth taking a second look at your spare coins — because you never know, that old penny in your pocket could be worth a million dollars. Keep your eyes open… history—and perhaps your fortune—might be hiding in your hands.

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