Many people don’t pay attention to pennies. They just toss them in jars or forget them in their wallets. But what if one of those pennies was actually worth $575,000? Yes, you read that right. There’s a rare Lincoln Wheat Penny out there that has made headlines for its massive value – and it could still be in circulation today.
What Makes This Penny So Valuable?
The penny everyone’s talking about is the 1943 Lincoln Wheat Penny, but not just any one from that year. During World War II, copper was in short supply because it was being used for war materials like bullets and wiring. So in 1943, the U.S. Mint decided to make pennies out of zinc-coated steel instead of copper.
However, a small number of 1943 pennies were accidentally made using leftover copper blanks. These copper 1943 pennies are extremely rare – only a few dozen are known to exist – and they can be worth a fortune.
The $575,000 Penny
One of these copper 1943 Lincoln Wheat Pennies was sold for as much as $575,000 in a public auction. Some other examples have sold for $250,000 to $1 million, depending on their condition.
So if you happen to come across a 1943 penny that looks copper-colored instead of silver (steel), don’t spend it! It might be one of the rare ones.
How to Tell If You Have the Rare Penny
Here’s how you can check if your 1943 penny is the valuable copper version:
- Color: It will look brownish-red or coppery, not silver-grey like most 1943 pennies.
- Magnet Test: Use a magnet. The steel pennies will stick to a magnet, but the copper ones won’t.
- Weight: A copper penny weighs 3.11 grams, while a steel one is lighter at 2.7 grams.
- Date and Mint Mark: Check for the year 1943 and see if there’s a small “D” (Denver) or “S” (San Francisco) mint mark under the date. These versions are also rare but not as valuable as the copper ones.
If you think you have one, don’t clean it. Cleaning can reduce its value. Instead, show it to a coin dealer or get it authenticated by a trusted coin grading service like PCGS or NGC.
Why Are People Still Finding These?
Since millions of coins are exchanged daily, it’s possible that one of these rare pennies could still pop up in your loose change, especially if someone unknowingly spent it or it came from an old coin collection.
Coin experts say that a few of these rare coins might still be out there, and that’s what makes this exciting. You don’t need to be a collector to find one – you just need a sharp eye and a little luck.
Other Rare Pennies to Watch Out For
If you’re checking your change anyway, here are a few more rare pennies that are worth good money:
- 1944 Steel Wheat Penny – Another error coin worth over $100,000.
- 1955 Double Die Penny – Has a doubled image on the front and can sell for $1,000+.
- 1972 Double Die Penny – Similar doubling mistake, also valuable.
- 1992 Close AM Penny – A small detail in the design makes this coin worth thousands.
Why Coin Collectors Love Error Pennies
Coins that are made by mistake, like the 1943 copper penny, are called error coins. Since they were not supposed to be made, they are rare and highly collectible. Just like rare baseball cards or limited-edition stamps, rarity drives the price up.
And since most error coins are pulled from circulation quickly, the few that remain become even more valuable over time.
Final Thoughts
You never know what you’ll find in your spare change. That ordinary-looking penny sitting at the bottom of your drawer could turn out to be a life-changing treasure.
So, take a minute and check your pennies, especially the older ones. Look for the year 1943, and if you spot one that looks copper-colored, test it.