It’s hard to imagine that a small, copper coin once worth just one cent could now be valued at $28 million. Yet, this is exactly what coin collectors are buzzing about. A rare version of the Lincoln Wheat Penny, possibly still in circulation today, is rumored to be worth millions. But what makes this coin so special? Could you be holding one in your pocket without knowing it?
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first introduced in 1909 by the U.S. Mint to celebrate the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person’s portrait. On the front is Lincoln’s face, and on the back are two wheat stalks, which is why it’s called the Wheat Penny. This classic design was produced until 1958, making it a favorite among coin collectors.
The Rare 1943 Bronze Penny
Most Wheat Pennies are not worth much—usually a few cents to a couple of dollars. But the 1943 Bronze Lincoln Wheat Penny is different. During World War II, the U.S. Mint needed copper for the war, so it started making pennies out of steel instead of bronze. These 1943 steel pennies are common and have a silver-like appearance.
However, by accident, a few bronze (copper) planchets from 1942 were left in the machines and were used to make a limited number of 1943 pennies. These bronze 1943 pennies were never supposed to exist, which makes them incredibly rare and valuable. Only about 10 to 15 authentic examples are known to exist.
How Did the $28 Million Valuation Come Up?
One reason this coin might be valued so high is collector demand. In the past, some of these 1943 bronze pennies have sold for $1.7 million to over $2 million at auction. As interest in rare coins increases, experts believe that the best-condition bronze 1943 penny could sell for as much as $10 to $28 million in a private sale, especially if it’s the only one in uncirculated (perfect) condition or has a unique minting error.
Factors that affect this coin’s price include:
- Rarity: Extremely few exist.
- Historical Importance: It’s linked to World War II.
- Condition: If it’s uncirculated or “mint state,” it’s more valuable.
- Mystery: Some of these coins may still be undiscovered.
Is It Really Still in Circulation?
It’s possible. Some of these rare 1943 bronze pennies may still be sitting unnoticed in old piggy banks, change jars, or coin collections. Because they look similar to regular pennies, many people don’t realize what they have. One famous story tells of a teenage boy in the 1940s who found a rare penny and later sold it for a small fortune.
So yes, a Lincoln Wheat Penny worth millions could still be out there, mixed in with everyday coins.
How to Check If You Have the Rare Penny
Here’s how you can tell if your 1943 penny is special:
- Look at the date – It must say 1943.
- Check the color – Steel pennies look silver. Bronze ones look copper or brown.
- Use a magnet – Steel pennies stick to a magnet. The rare bronze penny won’t.
- Get it checked – If your penny doesn’t stick to a magnet and is from 1943, contact a professional coin dealer or grading service immediately.
What to Do If You Think You Found One
- Don’t clean the coin. Cleaning can lower its value.
- Place it in a soft cloth or plastic holder to protect it.
- Contact a certified coin grading company or auction house.
- Avoid selling it too quickly—get it properly appraised first.
Conclusion: Look Before You Spend
While it’s unlikely that a coin in your pocket is worth $28 million, it’s not impossible. Rare coins do turn up in the most unexpected places. The 1943 Bronze Lincoln Wheat Penny is proof that a tiny piece of metal can carry massive value—historically and financially. So next time you receive a handful of change, take a second look. Your future jackpot might be hiding among those pennies.
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.
