Imagine taking a coin out of your change jar and finding one that is worth a lot of money. Doesn’t it sound crazy? Sure, it’s not possible in every case. It is said that a Lincoln Wheat Penny is worth an amazing $178 million. This coin might still be in circulation. One of the rarest and most expensive coins ever could be hidden from someone who doesn’t know it. Let’s talk about what makes this penny unique and how to tell if you have one.
Origins
The first Lincoln Wheat Penny was made in 1909 to honor the 100th birthday of President Abraham Lincoln. It was the first U.S. coin with a picture of the president on it. The name of the coin comes from the two wheat stalks on the back. It was made until 1958.
Most of these coins were common and were made of 95% copper. But a few very rare ones were made with the wrong materials or with printing mistakes, which makes them very valuable to collectors.
Rarity
What is it about this penny that makes it worth $178 million? A few things play a role: lack of supply, mistakes, and some mystery.
Rare Mistake
A planchet, which is the wrong kind of metal blank, was used to make some of the most expensive Lincoln Wheat Pennies. These mistakes are very uncommon during minting, but they quickly raise the value of a coin.
Low Mintage
People always want coins that were only made in small numbers. Some Lincoln Wheat Pennies were only made in very small amounts, which made them hard to find and drove up their value like a bidding war at an art show.
Unique Metal
Due to the need for copper in wartime supplies during World War II, most 1943 pennies were made of steel. However, a few were made by mistake using extra bronze. You can now find some of the rarest U.S. pennies ever made, which were made in 1943.
Dream of a Collector
Aside from the metal and mistakes, the Lincoln Wheat Penny is also interesting because of its historical value. Abraham Lincoln was the first real person to appear on U.S. currency, which makes it even more desirable to fans.
CLUES
Do you think your coin jar might hold a lot of money? To check, follow these steps.
Examine the Year
These years deserve extra attention:
- 1909-S VDB
- 1914-D
- 1922 No D
- 1943 Bronze
Your penny might match one of these, which means you might be on to something big.
Check For Errors
Turn on a bright light and get a magnifying glass. Look for things that don’t seem right, like letters that are printed twice, prints that aren’t in the middle, or textures that don’t feel right. These mistakes are as good as gold.
Test the Metal
Pick up a magnet. Coins from 1943 were mostly made of steel, so they will stick to it. But if your 1943 penny doesn’t stick, you might have one of those very rare metal ones.
Here’s a quick reference table to help:
| Year | Key Feature | What to Check For |
| 1909-S VDB | Designer’s initials | “VDB” under wheat stalks |
| 1914-D | Rare mint | “D” under the year |
| 1922 No D | Missing mint mark | No mint mark visible |
| 1943 | Bronze instead of steel | Doesn’t stick to a magnet |
Selling
Found a potential jackpot penny? Here’s where to cash in.
Coin Dealers
Start with a professional coin appraiser or dealer. These experts can verify authenticity and help you understand its market value.
Online Auctions
Websites like eBay, Heritage Auctions, and GreatCollections are hotspots for rare coins. You could start a bidding war and walk away with a hefty check.
Coin Shows
Coin collectors gather at these events looking for treasures. They’re great places to sell directly to someone who really knows their stuff.
Pawn Shops
Not the first choice, but still an option. Just be sure to get a professional appraisal beforehand so you’re not shortchanged.
It’s wild to think a single penny could change your life, but that’s the fun of coin collecting. While the $178 million Lincoln Wheat Penny might still be a mystery, many rare pennies are out there—just waiting to be known. So next time you empty your pockets, take a closer look. That forgotten coin might just be your lucky break.
