Lincoln Wheat Penny Valued at $170 Million: In the world of rare coins, legends often emerge around seemingly ordinary pocket change. One such tale that continues to captivate collectors and curious Americans alike centers around the Lincoln Wheat Penny — specifically, a coin that has allegedly been valued at $170 million. Yes, you read that correctly — a single penny, worth far more than any average citizen earns in a lifetime. But is this coin real? Could it still be in circulation? And what makes it so valuable?
Let’s break down the facts, the history, and the astonishing worth of this rare piece of American numismatic history.
The Birth of the Lincoln Wheat Penny
A Century-Old American Icon
The Lincoln Wheat Penny, also known as the “Wheat Cent,” was first minted in 1909, designed by Victor David Brenner to commemorate the 100th birthday of President Abraham Lincoln. This marked the first time a real person (other than a symbolic figure like Lady Liberty) appeared on a regular U.S. coin.
Key Features:
| Feature | Description |
|---|---|
| Front (Obverse) | Bust of Abraham Lincoln |
| Back (Reverse) | Two wheat ears surrounding “ONE CENT” |
| Minted Years | 1909 to 1958 |
| Composition | 95% Copper, 5% Tin and Zinc |
| Weight | 3.11 grams |
From its introduction, the Lincoln Wheat Penny has been a fixture of American currency, circulating for decades and appearing in millions of coin collections.
Why Some Lincoln Pennies Are Worth Millions
Most Lincoln Wheat Pennies are worth just one cent — perhaps a few dollars if in good condition. But some are extraordinarily rare, thanks to unique errors, limited mintages, or unusual materials. These factors can drive prices into the millions — or even hundreds of millions — as in the case of the fabled $170 million Lincoln Wheat Penny.
Factors That Drive Up Value:
- Mintage Errors: Double dies, off-center strikes, or wrong metal compositions.
- Low Mintage Years: Fewer coins mean higher rarity.
- Historical Significance: First year issues or wartime coins.
- Condition: Mint State coins fetch much higher values.
- Unique Backstory: A coin with a mysterious or one-of-a-kind origin.
The $170 Million Lincoln Wheat Penny: Fact or Folklore?
What We Know So Far
The coin in question is said to be a 1943 Lincoln Wheat Penny struck on a bronze planchet instead of the standard steel used during World War II. In 1943, copper was a critical wartime material, so the U.S. Mint switched to zinc-coated steel to conserve resources. However, a few copper blanks accidentally made it into the minting process — creating the now-legendary 1943 Bronze Wheat Penny.
Only about 10 to 20 of these bronze 1943 pennies are known to exist.
A $170 Million Appraisal?
While various auction records show these coins fetching between $300,000 to $1.7 million, rumors persist of one coin in pristine condition, graded MS-68+ Red (Mint State), being appraised at a staggering $170 million due to:
- Immaculate condition
- Verified historical anomaly
- One-of-a-kind minting flaw
- Insatiable collector demand
This coin is reportedly held by a private collector, though its existence at that appraisal level remains unverified by major grading companies like PCGS or NGC.
How to Identify a Rare Lincoln Wheat Penny
Think you might have a valuable penny in your change jar? Here’s what to look for:
Visual Checklist:
| Feature | Worth Checking For |
|---|---|
| Year | 1909-S VDB, 1914-D, 1922 No D, 1943 Bronze |
| Mint Mark | “S” (San Francisco), “D” (Denver) |
| Weight | 3.11 grams (copper) vs. 2.7g (steel) |
| Magnet Test | Copper won’t stick to a magnet |
| Color | Steel looks silver, copper looks brown/red |
Even if it’s not the $170 million coin, some Wheat Pennies can still be worth thousands!
Most Valuable Lincoln Wheat Pennies
| Year | Mint Mark | Composition | Approx. Value | Special Feature |
|---|---|---|---|---|
| 1909 | S VDB | Copper | $50,000 – $100,000 | First year, low mintage |
| 1914 | D | Copper | $200 – $5,500 | Scarce minting |
| 1922 | No D | Copper | $500 – $12,000 | No mint mark error |
| 1943 | None/D/S | Bronze (Error) | Up to $1.7 million | Wrong planchet error |
| Unknown | ? | Bronze (MS-68+) | Alleged $170 million | Unconfirmed private holding |
Though extremely unlikely, it’s not impossible. Rare coins often resurface from forgotten collections, estate sales, or old piggy banks.
There have been multiple instances of:
- Rare coins found in gas station change
- Valuable pennies discovered in donation jars
- Wheat Pennies showing up in bank rolls
True Stories:
- In 2010, a 1943 Bronze Penny was found by a Massachusetts teen and sold for $1.7 million.
- In 2019, a collector at a flea market bought a mixed coin bag for $5 and found a 1922 No D Wheat Penny worth over $10,000.
How to Get Your Coins Appraised
Steps to Take:
- Separate Wheat Pennies from modern ones.
- Use a digital scale to check weight (3.11g is key).
- Magnet test for the 1943 steel/copper anomaly.
- Photograph your coin front and back clearly.
- Contact a reputable coin dealer or grading service:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Corporation)
- Heritage Auctions
Don’t clean or polish your coin — it can lower its value dramatically!
The Role of Coin Collectors and Auctions
A Thriving Community
Coin collecting isn’t just a hobby — it’s a multi-billion-dollar industry in the United States. Major auction houses hold exclusive coin events that attract international bidders.
Key Players in Rare Coin Sales:
- Heritage Auctions
- Stack’s Bowers Galleries
- GreatCollections
- Legend Rare Coin Auctions
If the $170 million Lincoln Wheat Penny is ever offered at public auction, it would likely shatter records and headlines alike.
FAQs – The $170 Million Lincoln Wheat Penny
Q1. Is there really a Lincoln Wheat Penny worth $170 million?
There are reports and rumors of a single 1943 Bronze Lincoln Penny graded MS-68+ being valued at $170 million, but this appraisal remains unverified.
Q2. How many 1943 Bronze Pennies are known to exist?
Roughly 10 to 20, depending on the source. Each is extremely rare and valuable.
Q3. Can I find a valuable Wheat Penny in circulation?
It’s very rare, but not impossible. Old jars, inherited coin collections, or coin rolls can sometimes hold hidden gems.
Q4. What should I do if I think I have a rare coin?
Don’t clean it. Get it weighed, do a magnet test, and contact a certified grading service for authentication.
Q5. Are all Wheat Pennies valuable?
Not all — most are worth just a few cents, but specific dates and errors can be worth hundreds or even millions.
Conclusion: Is the $170 Million Penny Real?
The story of a Lincoln Wheat Penny worth $170 million toes the line between reality and myth. While coins like the 1943 Bronze Penny are known and verified, the astronomical valuation of $170 million has yet to be officially documented. Still, in the wild world of collectibles, stranger things have happened.
What remains true is that Wheat Pennies can hold immense value, and it’s entirely possible that rare coins are sitting unnoticed in drawers, jars, and boxes across America.
So next time you get change back at a gas station or sort through old coins, take a closer look — you might be holding history in your hand.