A tiny coin hiding in your pocket could be worth a fortune. The 1943 Lincoln Wheat Penny, a rare piece of American history, has collectors buzzing with excitement. Experts say one version of this penny could fetch up to $83 million at auction. Most of these pennies were made of steel during World War II to save copper, but a few were mistakenly struck in copper. That mistake makes them incredibly valuable. Could you have one stashed away in a jar or forgotten in a drawer?
A Mistake That Made Millions
In 1943, the U.S. Mint switched to steel for pennies to support the war effort by saving copper for weapons and supplies. However, a small number of pennies were accidentally made with copper that year. Only about 20 of these copper pennies are known to exist today, making them one of the rarest coins in the world. One such penny sold for $1.7 million in 2010, and experts believe the value has skyrocketed since then, with some estimating a top-quality coin could reach $83 million. The rarity and historical value drive collectors wild.
| Year | Material | Estimated Value |
|---|---|---|
| 1943 | Copper | Up to $83 million |
| 1943 | Steel | $0.10 to $1 |
How to Spot the Real Deal
Identifying a 1943 copper penny takes a sharp eye. First, check the date: it must be 1943. Next, use a magnet. Steel pennies stick to magnets, but copper ones do not. The coin should also weigh about 3.11 grams, heavier than the 2.7 grams of a steel penny. Look for the classic Lincoln Wheat design, with Abraham Lincoln’s face on one side and wheat stalks on the back. If you think you have one, don’t clean it. Cleaning can lower its value. Take it to a professional coin dealer or appraiser for verification.
| Feature | Copper Penny | Steel Penny |
|---|---|---|
| Magnet Test | Does not stick | Sticks |
| Weight | 3.11 grams | 2.7 grams |
Where These Pennies Turn Up
These rare pennies have been found in surprising places. Some have been discovered in old coin collections, while others were spotted in everyday change. One famous copper penny was found by a teenager in 1947 in his lunch money. Stories like these keep collectors and everyday people searching through their coins. Check places like old piggy banks, inherited coin jars, or even loose change from yard sales. You never know where a treasure might be hiding.
Why Collectors Are Obsessed
The 1943 copper penny is more than just money; it’s a piece of history. The mistake happened during a critical time in World War II, making the coin a unique snapshot of that era. Collectors love the thrill of chasing something so rare and valuable. The penny’s value has grown over time, and with only a handful known to exist, competition is fierce. Auction houses report intense bidding wars when one of these coins hits the market. Its story and scarcity make it a holy grail for coin enthusiasts.
What to Do If You Find One
If you think you’ve found a 1943 copper penny, handle it carefully. Store it in a soft cloth or coin holder to avoid scratches. Contact a reputable coin dealer or grading service like PCGS or NGC for an expert opinion. They can confirm if it’s real and estimate its value. Be cautious of fakes, as some people try to pass off altered coins. If it’s authentic, you could be sitting on a life-changing sum. Even if it’s not the copper version, rare steel pennies in good condition can still fetch a few hundred dollars.
The 1943 Lincoln Wheat Penny is a reminder that small things can hold big value. Whether you’re a collector or just someone with a jar of old coins, it’s worth taking a look. You might find a piece of history that could change your life. So, dig through your change, check your attic, or ask your grandparents about their old coin stashes. That $83 million penny could be closer than you think.