Coin collectors and history enthusiasts are always searching for rare and valuable coins. One coin that frequently sparks excitement is the Lincoln Wheat Penny. Recently, claims have surfaced that a rare Lincoln Wheat Penny is worth a staggering $85 billion ($85,000 million). But does such a penny really exist? And if so, could it still be in circulation?
Let’s separate fact from fiction and explore what makes some Wheat Pennies truly valuable.
The History of the Lincoln Wheat Penny
The Lincoln Wheat Penny, also called the Wheat Cent, was minted in the United States from 1909 to 1958. It holds historical significance as the first U.S. coin to feature a real person—President Abraham Lincoln—in honor of his 100th birthday.
While most Wheat Pennies are common, certain rare variations have sold for thousands or even millions due to minting errors, low mintage, or unique compositions.
What Makes a Lincoln Wheat Penny Valuable?
Several factors influence the value of a Lincoln Wheat Penny:
1. Minting Errors
Coins with errors are highly desirable among collectors. Some well-known Wheat Penny errors include:
- 1955 Doubled Die Penny – Misalignment during the minting process caused a visible double image, making it one of the most famous error coins.
- 1922 No D Penny – A mistake at the Denver Mint resulted in some pennies missing the “D” mint mark.
- 1943 Copper Penny – Most 1943 pennies were made of steel due to wartime metal shortages, but a few were mistakenly struck in copper, making them incredibly rare.
- 1944 Steel Penny – Similar to the 1943 Copper Penny, these were errors made using leftover steel planchets from the previous year.
2. Low Mintage
Certain years had fewer pennies produced, making them harder to find. For example:
| Year & Mint Mark | Estimated Mintage | Value (High Grade) |
|---|---|---|
| 1909-S VDB | 484,000 | $100,000+ |
| 1914-D | 1.2 million | $150,000+ |
| 1922 No D | Unknown (rare) | $90,000+ |
3. Historical Significance
Certain pennies from the early 1900s, especially those tied to wartime production or unique changes, attract serious collectors.
Is There Really an $85 Billion Penny?
The claim that a Lincoln Wheat Penny is worth $85 billion is completely false. No known coin in history has ever sold for or been valued at such an astronomical price.
In fact, the most expensive coin ever sold is the 1933 Saint-Gaudens Double Eagle, which was auctioned for $18.9 million—far below the rumored $85 billion.
Even the most expensive Lincoln Penny, the 1943 Bronze Penny, sold for $1.7 million—nowhere near $85 billion.
Most Expensive Lincoln Wheat Pennies
| Penny Type | Highest Sale Price |
|---|---|
| 1943 Copper Penny | $2.3 million |
| 1944 Steel Penny | $1.1 million |
| 1909-S VDB Penny | $100,000+ |
| 1955 Doubled Die | $125,000+ |
Could Rare Lincoln Pennies Still Be in Circulation?
Yes, but finding one is highly unlikely. While Lincoln Wheat Pennies were last minted in 1958, some still appear in:
- Pocket change
- Old coin collections
- Estate sales
- Coin rolls from banks
If you find a Wheat Penny, check its year, mint mark, and condition—it could be worth more than a cent!
How to Check If You Have a Valuable Wheat Penny
Want to check if you have a valuable Wheat Penny? Follow these steps:
- Look at the Date – Check for key years like 1909-S VDB, 1914-D, 1922 No D, 1943 Copper, and 1944 Steel.
- Check the Mint Mark – The letter below the date (D for Denver, S for San Francisco, no letter for Philadelphia) can affect value.
- Inspect for Errors – Look for doubling, missing mint marks, or off-center strikes.
- Try a Magnet Test – If you have a 1943 penny, test it with a magnet. Steel pennies will stick, copper ones won’t—if it’s copper, it could be worth millions!
- Get It Authenticated – Take your penny to a professional coin dealer or grading service (NGC or PCGS) for verification.
Where to Sell a Valuable Lincoln Wheat Penny
If you find a rare Lincoln Wheat Penny, you can sell it through:
- Major coin auction houses (Heritage Auctions, Stack’s Bowers)
- Online marketplaces (eBay, GreatCollections)
- Coin dealers and numismatists
- Coin shows and conventions
The claim of an $85 billion Lincoln Wheat Penny is nothing more than an internet myth. However, certain rare Lincoln Pennies have sold for over $1 million, making them extremely valuable in the world of numismatics.
If you come across a Wheat Penny, don’t ignore it—it could be worth thousands or even millions. So, check your spare change—you never know what hidden treasures you might find!
FAQs
Is there really an $85 billion Lincoln Wheat Penny?
No, this is a hoax. No coin has ever been valued at $85 billion, and even the most expensive Lincoln Penny only sold for $1.7 million.
What is the most valuable Lincoln Wheat Penny?
The 1943 Copper Penny, which has sold for up to $2.3 million at auction.
Are 1944 Steel Pennies valuable too?
Yes! The 1944 Steel Penny is another rare error coin, worth over $1 million.
