U-turn: the Lincoln Penny for Which They Pay Over $600k

In the world of numismatics, some coins can be worth much more than they seem. Sometimes, a small piece of metal can change the life of the person who finds it. This is precisely what happens with a Lincoln penny.

Not all coins are the same, and some hide a surprising value. What seems like a simple penny can be worth hundreds of thousands of dollars. But why does such a common coin reach such a high price?

The Story of the Most Valuable Lincoln Penny

The Lincoln Wheat Penny is one of the most iconic coins in the United States, introduced in 1909 to commemorate the centennial of Abraham Lincoln's birth. It was the first American coin to feature the face of a real person.

This design, created by Victor David Brenner, shows Lincoln's portrait alongside the words “IN GOD WE TRUST,” “LIBERTY,” and the year of minting. On the reverse, there are two wheat stalks, a symbol of prosperity and growth, along with the phrase “ONE CENT” and “UNITED STATES OF AMERICA.”

This coin remained in circulation until 1958 when the design changed to include the image of the Lincoln Memorial instead of the wheat stalks. Despite its age, many of these pennies are still in circulation. However, some rare editions have become true gems for collectors.

Most Lincoln Wheat Pennies are only worth a few cents. But there is a special edition that can reach astronomical prices. It is the 1943 Copper Lincoln Wheat Penny, whose value can reach $630,000.

In 1943, due to the copper shortage during World War II, the United States Mint began producing zinc-coated steel pennies. However, it is believed that fewer than 20 coins were accidentally minted in copper. This rarity is due to some copper blanks remaining in the minting machines from previous years.

These coins are extremely valuable due to their rarity and manufacturing error. Additionally, collector demand makes them highly sought after. At an auction, one of these coins reached $630,000, becoming one of the most expensive coins ever sold.

How Do I Know If I Have One of These Coins?

If you think you have a 1943 Copper Lincoln Wheat Penny, there are several ways to identify it. The first test is to use a magnet. A steel coin will stick to the magnet, while a copper one will not. It is also useful to observe the color: the copper penny will have a reddish-brown tone, while the steel one will be silver-gray.

Another method is to weigh the coin. The copper version weighs 3.11 grams (0.11 oz), while the steel one weighs 2.7 grams (0.095 oz). Using a scale can help verify it. Finally, examine the date carefully. The “3” in 1943 must be clearly formed and not altered.

If you suspect you have one of these coins, it is best to take it to an expert for authentication. Professional services like PCGS or NGC can verify its authenticity and assess its condition.