The Lincoln Wheat Penny Valued at $3.3 Million, Still in Circulation

April 14, 2025 by Jeffrey T. Poss

Think of finding a little coin in your pocket, which could be worth a staggering ₹27 crore (around $3.3 million). Sounds like a fantasy, right? But this story is very real. A rare variety of the 1943 Lincoln Wheat Penny has commanded astronomical prices at auction — and may still be lurking in daily circulation today.

Here’s what you need to know about what makes this nondescript coin so valuable, how to spot one and what to do if you happen upon one.

Table of Contents

What is a Lincoln Wheat Penny?

The Lincoln Wheat Penny, or Wheat Cent, was first released in 1909 by the U.S. Mint to celebrate President Abraham Lincoln’s 100th birthday. It is historically significant as the first coin in the United States to bear the image of a real person, replacing the common practice of using abstract or symbolic images.

Key design features:

Front (Obverse): Abraham Lincoln portrait
Reverse: Two wheat stalks surrounding the words “ONE CENT”

The Wheat Cent continued to be made until 1958, when the reverse design changed to the Lincoln Memorial. Although the majority of Wheat Pennies are still somewhat plentiful within collector circles and old coin stashes, there is an exception to the rule—1943.

Lincoln Wheat Penny: Why Is That 1943 Penny Worth $3.3 Million?

The U.S. government cracked down on copper supplies during World War II, repurposing them for military equipment such as shell casings and telephone wires. In 1943, to preserve copper, the U.S. Mint started making pennies out of zinc-coated steel. These coins have a unique silver-grey color and are magnetic.

But, due to a minting error, a few 1943 pennies had been mistakenly minted on leftover copper blanks (planchets) from the previous year. These “copper 1943 pennies,” which were never meant to be in circulation, are rare and worth a lot of money.

Fewer than 20 genuine 1943 copper pennies are believed to exist, and one sold for $3.3 million at a private auction — making the coin one of the most valuable in the world.

How to Spot a 1943 Copper Wheat Penny

Do you think you have a 1943 penny? Here’s how to tell if it could be the elusive copper version:

1. Check the Date
The coin must be dated 1943. This was the only year most pennies were made of steel, so a copper one stands out.

2. Look at the Color
Because of their zinc coating, steel pennies appear silver or grey.
The real deal 1943 copper penny will have the same warm reddish brown color of all copper coins.

3. Try the Magnet Test
Steel is magnetic, so if a magnet grabs the coin, it’s likely an ordinary 1943 steel penny.
Copper is nonmagnetic, so if the coin does not stick, it could be one of the rare copper varieties.

4. Weight Test (Optional for Advanced Checking)

Copper pennies come in at 3.11 grams
Steel pennies weigh 2.7 grams
A coin scale can help give you a quick estimate.

Note: A lot of counterfeiters have altered 1948 or 1945 copper pennies to look like 1943 by modifying the last digit. So, professional verification is important.

What to Do If You Find One

If you believe you’ve found a potential 1943 copper penny:

Do not clean it — cleaning may harm the coin and lessen its value.
Keep it protected in a holder or coin sleeve.
Take it to a reputable coin grading service — PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) — to confirm its authenticity and value.
Explore selling options — Rare coins can be auctioned off or sold to numismatic dealers or through online platforms like Heritage Auctions and Stack’s Bowers.

Can You Still Get One at This Age?

Surprisingly, yes. Experts say a handful of 1943 copper Wheat Pennies may still be hiding in circulation — mistakenly banked with old change, tucked away in piggy banks, stuck in drawers or passed down through family heirlooms.
Their inconspicuous size and resemblance to regular coins may have led people to overlook them for decades.

Advice for Coin Collectors & Treasure Finders

Examine old coins with care — especially any minted in 1943.
Use tools like magnifying glasses, magnets and digital scales.
Do not clean or modify any old coins before getting a valuation.
Join coin collector forums and communities to stay informed and share discoveries.

Frequently Asked Questions

What makes the 1943 Lincoln Wheat Penny so special (and valuable)?

It was accidentally minted in copper when all pennies that year were to be made of steel because of wartime resource restrictions. Because of its rarity and historical value, it’s worth a whole lot of money.

How do I know if my 1943 penny is made out of copper?

Try the magnet test — if it doesn’t stick to a magnet and appears coppery in color, it could be the rare version. Confirm with a coin expert.

How can I sell it if I find one?

Absolutely. But first, it has to be authenticated by a reputable coin grading service. Once verified, it can be sold through auctions or rare coin dealers.

Why were most 1943 pennies made of steel?

Copper was needed desperately for war supplies during WWII, so the U.S. Mint used steel with a zinc coating to make pennies that year.

Final Thoughts

The tale of the 1943 copper Lincoln Wheat Penny is an exciting reminder that unimaginable treasures may well be hiding in plain sight. Whether left in an abandoned coin jar or passed along in change, this little chunk of metal could be worth more than a luxury home.

So the next time you notice a 1943 penny, examine it closely — you might just be holding a multi-crore mystery in your palm.