If you’ve ever tossed your loose change into a jar without thinking, you might want to slow down and take a second look. Some pennies, especially the old ones, could be worth far more than face value. One of the most famous examples? A Lincoln Wheat Penny that sold for a staggering $840,000. Yep, for just one penny.
Sounds unbelievable, right? But in the world of coin collecting, strange things happen. Coins with minting errors, rare materials, or limited production runs can become the stuff of legends. And the wildest part? Some of these rare coins are still floating around. Let’s cut into the story behind this $840K penny, why it’s so valuable, and how you can check your own pocket change for hidden treasures.
Table of Contents
Overview
The Lincoln Wheat Penny—sometimes called a Wheat Cent—was minted from 1909 to 1958. Instead of the Lincoln Memorial or shield design we see today, the back features two wheat stalks. They’re rustic, simple, and honestly a bit nostalgic.
If you’ve ever gone through your grandparents’ coin jars or old piggy banks, chances are you’ve seen one of these. Most are common, but a select few are far more valuable than you’d expect.
Discovery
The ultra-rare penny that made headlines is the 1943 Bronze Lincoln Wheat Penny. Here’s what happened:
During World War II, copper was needed for ammunition and military equipment, so the U.S. Mint switched to making pennies from zinc-coated steel in 1943. But a few bronze blanks from 1942 were accidentally left in the minting machines. When those presses ran, a small number of 1943 pennies were struck in bronze instead of steel.
Only about 20 of these 1943 bronze pennies are believed to exist. One resurfaced and sold at auction for about $840,000.
That’s a life-changing amount—for a coin that technically should never have existed.
Identification
Now for the fun part: how to check if you’ve got one.
1. Look at the Date
Flip over any penny and check the date. If it says 1943 and has a coppery color, you might be onto something.
2. Color Check
A 1943 penny should be silver if it’s made from steel. But if it’s bronze, it’ll have a brownish-red or copper tone.
3. Try the Magnet Test
Steel sticks to magnets. Bronze doesn’t. So if your 1943 penny is copper-colored and doesn’t stick to a magnet, you may have found something rare.
4. Weigh the Coin
Steel pennies weigh around 2.7 grams. Bronze ones weigh about 3.11 grams. A small digital scale can help verify.
5. Get It Authenticated
If your coin passes these basic tests, the next step is having it evaluated by a professional coin grading service. They can confirm whether it’s real or a clever fake.
Alternatives
Even if you don’t strike gold with a 1943 bronze penny, there are plenty of other valuable Wheat Pennies out there. Some are worth hundreds—or even thousands—depending on condition and rarity.
| Year & Variety | Approx. Value | Reason for Value |
|---|---|---|
| 1909-S VDB | $700 – $3,000+ | First year, low mintage, designer initials |
| 1914-D | $300 – $5,000+ | Rare Denver mint coin |
| 1922 No D | $500 – $20,000+ | Mintmark error (missing “D”) |
| 1931-S | $75 – $600+ | Low mintage during the Depression |
| 1944 Steel Penny | $30,000 – $200,000+ | Accidental steel planchet used post-war |
So don’t ignore your Wheat Pennies—they could be hiding something valuable.
Motivation
Why do people still search their change?
It’s part hobby, part history lesson, part treasure hunt. Some people love the thrill of discovery. Others enjoy the peaceful, methodical process of sorting coins. And many are just fascinated by the idea that an ordinary coin could change their life.
Even if you don’t find a six-figure penny, you might discover something worth holding onto. Plus, it’s a great conversation starter and a fun way to teach kids about money and history.
Tips
Want to start hunting for rare coins? Here are a few tips to help you out:
- Examine every Wheat Penny you find.
- Use a magnet and small scale to test 1943 and 1944 pennies.
- Keep a magnifying glass handy to check for tiny mint errors.
- Store your coins in protective holders or folders.
- Be patient—it’s a long game, not a quick win.
The idea that a single $840,000 penny might still be out there is enough to make anyone take a second look at their change. It’s not just about the money—it’s about the story, the chase, and the mystery.
So next time you get coins back at the store, don’t just toss them in a jar. Flip them over. Look at the date. Check the color. You never know what might be staring back at you.
FAQs
What is the $840K Wheat Penny?
It’s a rare 1943 bronze Lincoln Wheat Penny.
How can I spot a rare 1943 penny?
Check color, date, magnet test, and weight.
Are 1943 steel pennies valuable?
Not usually, unless they’re in mint condition.
How many 1943 bronze pennies exist?
Experts estimate fewer than 20 remain.
Where can I get coins appraised?
Try coin shops or professional grading services.
