The Lincoln Wheat Penny is a tiny piece of American history that could be worth a life-changing amount of money. While most people see it as just another old coin, one rare version of this penny is believed to be valued at a stunning $60 million. What’s even more shocking is that it may still be in circulation, hiding in someone’s change or coin jar.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the “Wheat Cent,” was first introduced in 1909 to honor President Abraham Lincoln’s 100th birthday. It features Lincoln’s portrait on the front and two wheat ears on the back. This design was used until 1958, making it one of the most recognizable coins in U.S. history.
Millions of these coins were made, and they were common in everyday use for decades. While most of them are only worth one cent, a few rare versions are worth a fortune.
Why Is One Lincoln Penny Worth $60 Million?
Most Wheat Pennies are worth a few cents or maybe a few dollars to collectors. But the extremely rare one valued at $60 million is believed to be a combination of multiple rare features:
Year and Mint Error: Some pennies were mistakenly made using the wrong metal or had printing errors. For example, a 1943 Lincoln Penny made from copper instead of steel is incredibly rare.
Unique Condition: Coins that are in mint or near-mint condition—meaning they have never been used and have no scratches or marks—are much more valuable.
Historical Importance: A coin that was part of a limited production run or had a special purpose (like a test coin or accidental minting) becomes highly valuable to collectors.
When a coin has all of these features, its value increases dramatically. The $60 million figure comes from the rarest of these combinations, possibly a 1943 copper Lincoln Penny in perfect condition.
How Can This Coin Still Be in Circulation?
You might wonder how a $60 million penny could still be in someone’s pocket. The answer is simple: most people don’t know what to look for. Over time, rare coins can get mixed with regular ones. Someone might spend it without knowing, or it could end up in a coin collection at home.
This is why coin collectors and treasure hunters always check their change carefully. The chance of finding such a valuable coin is small, but not impossible.
How to Identify a Rare Lincoln Wheat Penny
Here are a few tips to help you identify a valuable Wheat Penny:
Check the Date: Look for pennies from the years 1909, 1914, 1922, and especially 1943. The 1943 copper penny is the most famous rare penny.
Look at the Mint Mark: A small letter under the date tells you where the coin was made. Rare mint marks include “S” for San Francisco and “D” for Denver.
Check the Material: In 1943, most pennies were made of steel due to World War II. If you find a 1943 penny that doesn’t stick to a magnet, it might be copper—and extremely valuable.
Examine the Condition: Coins in shiny, like-new condition are worth more. Avoid cleaning coins, as this can reduce their value.
Check for Errors: Double prints, off-center strikes, or missing features can increase the value.
What to Do If You Think You Have One
If you think you have a rare Lincoln Wheat Penny:
Don’t Clean It – Cleaning can damage the coin and lower its value.
Get It Appraised – Contact a professional coin dealer or grading company like PCGS or NGC.
Store It Safely – Keep the coin in a protective case to avoid damage.
Research Before Selling – Make sure you understand the coin’s value and only sell through trusted sources.
Conclusion: A Penny Worth a Fortune
The Lincoln Wheat Penny reminds us that even the smallest things can hold great value. While most of these coins are common, a few are extremely rare—and one could be worth as much as $60 million. It might be sitting in a drawer, a coin collection, or even your pocket right now. So next time you get change, take a closer look. You never know—you could be holding a hidden treasure.
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.