The Lincoln Wheat Penny is worth about $42 million: Imagine digging through your change jar and stumbling upon a coin worth more than a luxury mansion. Sounds impossible, right? But for a lucky few, that fantasy became reality—thanks to one of the rarest and most valuable coins in U.S. history: the 1943 copper Lincoln Wheat Penny. With recent estimates placing its value as high as $42 million, this tiny coin has become a legendary find among collectors.
And yes, a few might still be hiding in everyday circulation—waiting to be discovered.
What Is a Lincoln Wheat Penny?
First minted in 1909 to honor the 100th anniversary of Abraham Lincoln’s birth, the Lincoln Wheat Penny holds a special place in U.S. numismatic history. It was the first American coin to feature a real person and was designed by Victor D. Brenner.
- Obverse (front): A profile of Abraham Lincoln
- Reverse (back): Two wheat stalks framing the words “One Cent” and “United States of America”
These pennies were produced until 1958, and while most are only worth face value, a few rare issues—especially error coins—can fetch hundreds of thousands or even millions of dollars.
Why Is the 1943 Copper Penny Worth Millions?
A Coin Minted by Mistake During World War II
In 1943, the U.S. Mint switched from copper to zinc-coated steel for penny production. Copper was a crucial material for World War II—used in everything from ammunition to wiring—so the government reserved it for the war effort.
But a small number of copper planchets (coin blanks) from 1942 accidentally made their way into the minting presses. The result? A handful of genuine 1943 copper pennies were produced—by mistake.
Because of their rarity and historical significance, these error coins are now among the most valuable coins ever discovered.
How Rare Is the 1943 Copper Penny?
It’s believed that fewer than 20 authentic copper 1943 pennies exist today. Most were found by chance, making them highly sought after by collectors and investors.
Some have sold at auction for over $1 million, while others—especially those in mint condition—have been valued at up to $42 million.
How to Identify a 1943 Copper Penny
Think you might have one of these golden tickets hiding in your loose change? Here’s how to check:
1. Look at the Date
It must say 1943. Be wary of altered coins—some fakes are made from 1948 or 1945 pennies with modified numbers.
2. Do the Magnet Test
Steel pennies are magnetic. A genuine copper penny from 1943 will not stick to a magnet.
3. Check the Color
A real copper penny will have a reddish-brown or bronze-like hue. The steel version will appear gray or silver.
4. Get It Professionally Verified
If your penny passes the tests, have it authenticated by experts like:
They can determine if your coin is genuine and assign it a value based on its condition.
Could a 1943 Copper Penny Still Be in Circulation?
While it’s rare, it’s not impossible. Some 1943 copper pennies may have:
- Been passed down through families
- Ended up in coin jars or bank rolls
- Been sold at flea markets or estate sales without recognition
That’s why coin collectors still check every penny—because one lucky find could literally be worth millions.
Other Rare Lincoln Pennies That Could Be in Your Pocket
Even if you don’t find the 1943 copper penny, keep an eye out for these other high-value Lincoln Wheat Pennies:
1909-S VDB
- First Lincoln cent with designer Victor D. Brenner’s initials
- Minted in San Francisco
- Value: $1,000 to $100,000+
1944 Steel Penny
- The reverse error of the 1943 copper penny
- Made from steel by mistake after the Mint returned to copper
- Only a few known to exist
- Value: Up to $1 million
1955 Doubled Die Penny
- Famous for doubled lettering on “Liberty” and “In God We Trust”
- Highly collectible mint error
- Value: $1,000 to $50,000+
Where to Search for Rare Pennies
Start your treasure hunt in everyday places:
- Coin jars at home
- Bank rolls from your local branch
- Flea markets and antique shops
- Estate sales and garage sales
- Inherited coin collections
What To Do If You Think You’ve Found a Rare Penny
- Do not spend it—no matter what!
- Conduct basic checks (magnet test, date, color)
- Get it professionally authenticated
- Consult a trusted coin dealer or auction house for next steps
Final Thoughts
Finding a $42 million penny may seem like hitting the lottery, but it’s rooted in real history—and real stories of people who unknowingly held a fortune in their hands.
So, the next time you receive change, don’t just toss it aside. Take a closer look—that ordinary-looking penny might just be the find of a lifetime.
Frequently Asked Questions (FAQs)
Q: How many 1943 copper pennies are there?
A: Fewer than 20 confirmed examples exist, making it one of the rarest coins in American history.
Q: How can I tell if my 1943 penny is copper?
A: Use a magnet. Steel cents stick; copper does not. Then, confirm with a professional grading service.
Q: Why are 1943 copper pennies so valuable?
A: They were never meant to exist—minted by mistake during WWII—and their rarity makes them highly collectible.
Q: Where can I look for rare coins?
A: Start with loose change, old piggy banks, bank rolls, estate sales, or inherited collections.
Q: Who should I contact if I find one?
A: Contact PCGS, NGC, or a reputable coin dealer for verification and appraisal.