A simple penny may not seem valuable to most people, but in the world of rare coins, even a small coin can be worth a fortune. One special penny — a Lincoln Wheat Penny — is believed to be worth $110 million, and the most surprising part is that it could still be in circulation. Let’s understand why this coin is so valuable, how it became so rare, and how you might recognize it.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first introduced in 1909 to celebrate 100 years since the birth of President Abraham Lincoln. It was the first U.S. coin to feature a real person. The front side of the coin shows Lincoln’s portrait, and the back side shows two wheat stalks on both edges — which is why it’s called a “Wheat Penny.”
This design was used from 1909 to 1958, before the back was changed to feature the Lincoln Memorial.
Why Is One Lincoln Penny Worth $110 Million?
Most Wheat Pennies are only worth a few cents or maybe a few dollars to collectors. However, there is one extremely rare version of the Lincoln Wheat Penny that collectors believe is worth $110 million due to a combination of rare features, historical errors, and mystery. Here’s why:
Minting Error: The coin was mistakenly struck using the wrong metal or with a double die. These errors make the coin one-of-a-kind.
Unique Year: A rumored version of the 1943 Wheat Penny was made using copper instead of the steel used during World War II. Only a few copper 1943 pennies exist, but one version has unique markings and condition, making it the rarest of all.
Perfect Condition: If this penny was preserved in “mint state”, it could be flawless. Perfect coins are worth much more than worn ones.
Rarity and Demand: There may only be one coin like this in existence. Collectors and investors are ready to pay huge amounts for something that no one else has.
Historical Value: The coin reflects a unique time in U.S. history — World War II — when even the metal in coins was changed due to shortages.
How to Identify the $110 Million Penny
It’s not easy, but here are some tips to help you check if your penny might be a hidden treasure:
Check the Date: Look for a penny dated 1943. Most 1943 pennies are silver-colored because they are made of steel. A brown or copper-colored 1943 penny is extremely rare.
Do the Magnet Test: Steel pennies stick to magnets. Copper ones don’t. If you have a 1943 penny that doesn’t stick to a magnet, it may be valuable.
Look for Errors: Check for strange markings, misprinted letters, or numbers that look doubled. These could be signs of a minting error.
Weigh the Coin: A copper penny weighs about 3.11 grams. A steel one weighs about 2.7 grams. A small digital scale can help you check.
If you think you have a special coin, visit a professional coin dealer or a coin grading service to get it authenticated.
Is It Really Still in Circulation?
Yes, it’s possible. Though rare, many coins from the early 1900s are still found in old jars, drawers, and pocket change. Some people may not know the value and accidentally use these coins for regular purchases.
This is why coin experts say that checking your change could be worth it — you might find a rare coin like this Lincoln Wheat Penny.
Other Rare Lincoln Pennies
Besides the $110 million penny, here are a few other valuable Lincoln Wheat Pennies:
1909-S VDB: The first year of issue, made in San Francisco with the designer’s initials, is very rare.
1914-D: This penny from Denver is another collector’s favorite.
1955 Double Die: A misprinted version where the letters look doubled. It’s rare and worth thousands.
Final Thoughts
The idea that a penny could be worth $110 million sounds unbelievable, but in the world of coin collecting, it’s possible. Rare features, historical errors, and perfect condition all play a role in raising a coin’s value. If you have an old penny, don’t ignore it — take a closer look. You never know — that small coin in your hand might be one of the most valuable coins in the world.
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.
