Rare 1943 Lincoln Wheat Penny Worth $840K – Could Be in Your Pocket?

Description of the 1943 Lincoln Penny. The 1943 Lincoln penny has been in some ways the coin of most interest to collectors, and in other ways the coin that has left many disappointed.

But a few copper blanks, which were never replaced after 1942, were mistakenly struck in 1943 with the new design, and one of these rare boo-boos has become one of the most valuable pennies ever struck.

Today, a small handful of these 1943 copper wheat pennies have sold for insane amounts and a few of them solved for as much as $840,000. What’s more, one of these coins might even be in an old coin jar, a drawer or simply some loose change.

Rare 1943 Lincoln Wheat Penny Worth $840K

The majority of 1943 pennies are easy to distinguish. They were a dull grey-silver because they had been made from zinc-coated steel. But some copper pennies crept into those millions by mistake. These are the result of 1941’s copper planchets remaining in the presses when they changed over to steel planchets.

That small error produced one of the most coveted coins in the annals of U.S. numismatics. To those who collect coins, the 1943 copper penny is not just one cent, it’s the Holy Grail. Hence even the most average of people are still staring into the change, hoping to score one.

What Sets the 1943 Wheat Penny Apart

There are two reasons the 1943 copper penny is rare: It was made in error, and fewer than 20 are believed to exist. The 1943 steel cents had a mintage exceeding the billion marks, but only a tiny fraction of the number of known 1943 copper pennies are accounted for. This is what pushes them over the top:

• Background: During World War II copper was in short supply since it was needed for bullets.
• Mint Error: An unusual overuse of remaining copper planchets.
• Copper survivors: Less than 40 are thought to exist in all.
• Record Sales: A handful have earned hundreds of thousands of dollars with one fetching $840,000.

That’s why the 1943 copper wheat penny is known as the “holy grail of pennies,” and as recently as 2010, one was reported to have sold for more than $1.7 million at auction.

1943 Wheat Penny Varieties

That is if the example is possibly one of only 7 to 10 struck that year. Once you know the types, it may provide you with the information you need to determine if you have a rare valuable treasure or a common scarce coin.

• 1943 Steel Penny: The regular issue made of zinc plated steel. They’re all quite common and are usually only worth face value in circulated condition.
• 1943 Copper Penny (Error): The valuable and rare one.
• 1943-D and 1943-S Copper Pennies: The rarest of them all, struck in Denver (D) and San Francisco (S). These have even more luxury about them when they’re authenticated.

It’s obvious once you know what to look for. While it may not be quite as rare as winning the lottery, a 1943 penny made of copper is the coin collector’s equivalent of striking gold.

Top Sale For 1943 Copper Penny

It is really difficult to determine the true value of a 1943 copper wheat penny. On top of the date, the state and mint mark are also important. Such coins are now selling at higher prices than ever before:

The 1943-S Copper Penny sold for $282,000

• One of the highest prices ever paid for a penny and more than $1.7 million was offered for a 1943-D Copper Penny.
• The finest mint state example we have seen that was from the year 1943 (common variety, Copper Penny) came in for $840,000.
• Such large sums make the 1943 copper penny one of the most valuable small coins in the entire American series.

Why Collectors Prize This Penny

The value of the 1943 copper penny notwithstanding, it holds the distinction as both a rarity in terms of circulation and in the history of the United States. Coins can tell stories, and this one tells of a time when the country was at war and every resource was put to use. Collectors love them for the coin they are, but they are also reflectors of living history.

Then, too, there is that tiny thrill of the possibility that some soul in some corner of the planet might stumble across one by accident. It’s that mixture of rare and serendipitous discovery that provides such fodder for fascination for some people.

How to Check Your Old Pennies

Fortunately, if you are wondering whether you might have a gem, it may be worth sifting through those old coin jars and containers for a coin of your own. Here are some tips:

• Inspect all of your 1943 pennies that’s a steel ear but a few pieces of copper slipped through the cracks.
• Use a magnet test first. If it holds, your steel, if not, weigh.
• Keep an eye out for Pennies from 1944, when some were mistakenly made from steel that is now worth a fortune.
• Coins should never be cleaned and even the lightest cleaning will cause a huge loss of value.
• If you find something unusual, get in touch with a professional coin dealer or grading service.

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