Did you know a common penny you might find in your change could be worth thousands? The Lincoln Wheat Penny, made between 1909 and 1958, sometimes appears in everyday coins—and a few special ones can be worth a fortune.
One of these pennies, valued at around $188,000, is still believed to be in circulation!
Understanding the Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced in 1909 to celebrate Abraham Lincoln’s 100th birthday. It features Lincoln’s portrait on the front and two stalks of wheat on the back. Normally, these pennies are 95% copper, making them ordinary coins worth just one cent.
Why Some Are Worth Thousands
A penny suddenly becomes valuable when it has a rare mistake or was made in low numbers. Here are three major examples:
The 1943 Copper Error
In 1943, most pennies were made from zinc-coated steel to save copper during World War II. But a few were accidentally struck on copper blanks.
These rare pennies are incredibly valuable. One sold in 2021 for $840,000 . Even a circulated example graded “almost uncirculated” (AU50) sold for around $240,000 .
The 1909-S VDB Penny
This is one of the first special pennies. It was the first year Lincoln pennies were made, and some include the designer’s initials “VDB”. Only about 484,000 were made in San Francisco, and they can sell for over $300,000.
The 1955 Double-Die Penny
In 1955, some pennies have a doubled effect on the letters and date due to a minting error. About 20,000-24,000 of these were made, and they can sell for tens of thousands of dollars .
The $188K Penny
Now, what about that $188,000 penny? It’s likely one of the 1943 copper error pennies graded in extremely high quality. One sold in AU50 (almost uncirculated) condition for around $240,000 . Another slightly worn yet genuine 1943 copper penny could be estimated at about $188,000.
How to Spot a Valuable Penny
Flip through your loose change and look for a penny dated 1943. Hold it next to a magnet—steel pennies will stick, but copper ones won’t. If it’s copper-colored and doesn’t stick, it might be worth getting graded by a coin expert.
Even though most Lincoln Wheat Pennies are worthless beyond their one‑cent face value, a tiny number of rare varieties—especially 1943 copper errors, 1909‑S VDB, or 1955 double‑dies—can be worth hundreds of thousands of dollars.
So next time you dig into your pocket change, you just might discover a coin that pays off in a big way!
Remember: always check the date, minting errors, and material—and consider having a coin professionally graded if you find something unusual. You might be holding onto a hidden treasure!
FAQs
What makes a 1943 penny worth $188K?
The 1943 penny is valuable because most were made from steel during WWII. A few were mistakenly struck on copper, making them extremely rare. These copper versions in excellent condition can sell for up to $188,000 or more.
How can I check if I have a rare Lincoln Wheat Penny?
Look at the date and mint mark. Key dates like 1909-S VDB, 1943 copper, and 1955 double-die are rare. You can also use a magnet to test if your 1943 penny is steel (sticks) or copper (doesn’t stick).
What is the 1909-S VDB penny and why is it valuable?
It was the first Lincoln penny with the designer’s initials ‘VDB’ on the reverse, made in San Francisco. Only 484,000 were minted, making it highly collectible and worth over $300,000 in top condition.
Should I get my old penny graded?
Yes, getting a penny professionally graded by services like PCGS or NGC helps confirm its authenticity and value. Graded coins often fetch higher prices from collectors.
