Introduction: Suppose, this common coin that you have in your purse, pocket or your old piggy bank is worth 1.7 million Half dollars (approximately Rs 14 crore)? No, this is no work of fiction, it is a reality that has so appalled coin collectors world wide. A 1953 Lincoln Wheat Penny that is most likely still circulating somewhere is worth that much that one will be shocked upon hearing it.
In this article, we will know why this coin is so valuable, what are its features, how can it be identified, and what to do if you have it?
Lincoln Wheat Penny – Coin worth $1.7 million
Now we are talking about a very specific coin, which is none other than the 1943 Bronze Lincoln Wheat Cent. This coin was a error coin produced in the US Mint during the time of World War II. There was a huge demand for copper in the US at that time, as copper was used to make weapons, bullets and other military equipment. For this reason, in 1943 the US Mint decided that from now on all one cent coins would be made from zinc-coated steel.
But this is where a historical mistake happened. Leftover bronze blanks from 1942 were accidentally used to mint some coins in 1943. As a result, a very limited number of 1943 Lincoln Wheat Pennies made of bronze came into the market – which were not supposed to be made.
Why is this coin so expensive?
This 1 cent coin is worth more than an expensive car, a luxurious house or a luxury holiday.
There are many reasons behind this:
- Extreme rarity – To date only less than 20 original 1943 bronze pennies are known.
- Historical significance – This is a war-time minting error with a unique story of its own.
- Demand from collectors – Wealthy coin collectors are willing to pay a hefty price for such priceless coins.
- Condition – If this coin is in good condition, its value at auction can increase further.
- The best specimen ever found was sold for $1.7 million.
Could this coin still be in circulation?
Yes! And that’s what makes it even more exciting. Over the years, many specimens of this rare coin have been found in pockets, jars of old coins, or inherited collections. Experts believe that some 1943 bronze pennies may still be lying unidentified with someone, in a street vendor’s cash box, or in an old box in your house.
How to identify the $1.7 million coin?
If you want to get a closer look at your coins, read the tips below:
| Feature | How to Identify |
|---|---|
| Date | The coin should have the year 1943 on it. |
| Metal | The coin should be reddish-brown (bronze/copper), not silver-colored like steel. |
| Mint Mark | Look for ‘D’ (Denver), ‘S’ (San Francisco), or no mark (Philadelphia). |
| Magnet Test | Steel pennies stick to a magnet, but bronze ones do not. |
| Weight | Bronze penny weighs about 3.11 grams; steel penny weighs around 2.7 grams. |
What to do if you think you have this coin?
- Don’t clean or polish it – it can depreciate its value.
- Keep it secure, put it in a coin holder, of plastic.
- Make it authentic It is recommendable at all times to have it graded (or appraised) by a professional coin grading company like PCGS or NGC.
- Get help, consult a specialist, a used coin dealer or auctioneer.
It is not only a metal coin but history.
The history of this coin reminds us all that the ordinary things can become the invaluable ones, at least in case they have some relation to the past. The smallest coin–which may go by without attracting a thought–can make a revolution in your life.
Hence the next time you turn over your pig bank or grab some change at the shop, cast a searching eye over every 1943 penny. It may be the coin that would set you a millionaire.
Conclusion:
This story of the Lincoln Wheat Penny proves that luck can knock on your door at any time you just have to be alert and know what to look for. You might be the next millionaire, and all with just 1 cent.
FAQs
Q1. What is the Rare Lincoln Wheat Penny worth $1.7 million?
A. The coin in question is a 1943 Lincoln Wheat Penny mistakenly minted in bronze instead of steel. Only a few exist, making them extremely rare and valuable.
Q2. Why is the 1943 Lincoln Penny so valuable?
A. In 1943, the U.S. Mint used steel coated with zinc to conserve copper for World War II. A few bronze planchets were mistakenly used, creating an error coin. These rare coins can fetch up to $1.7 million at auction.
Q3. How can I identify a rare 1943 bronze Lincoln Penny?
A. Check the date 1943, and use a magnet—if the coin sticks, it’s steel (common); if it doesn’t, it may be bronze (rare). Also, weigh it—bronze pennies weigh about 3.11 grams.
Q4. Is the Lincoln Wheat Penny still in circulation?
A. Yes, while rare, some of these coins may still exist in private collections or hidden in jars and drawers. That’s why checking your change can be worth it.
Q5. Where can I sell a rare Lincoln Wheat Penny?
A. You can sell it through auction houses, rare coin dealers, or certified numismatic services like PCGS or NGC for maximum value.
