The Lincoln Wheat Penny, first minted in 1909, is one of the most iconic coins in U.S. history. While many of these pennies hold only minor value, some rare versions have become highly coveted by collectors—occasionally reaching astronomical prices.
Recently, reports have surfaced about a Lincoln Wheat Penny supposedly worth $100 million. But does such a coin really exist, or is it just another numismatic myth? Let’s explore the facts behind this extraordinary claim and uncover what makes certain Lincoln Wheat Pennies so valuable.
The History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was produced from 1909 to 1958 to commemorate the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real historical figure, designed by Victor David Brenner.
This penny features:
- Obverse (front): A portrait of Abraham Lincoln.
- Reverse (back): Two stalks of wheat, symbolizing strength and prosperity.
While most Lincoln Wheat Pennies are common, certain rare variations or minting errors have made some of them incredibly valuable.
What Determines a Lincoln Wheat Penny’s Value?
Several factors influence the value of a Lincoln Wheat Penny:
1. Rare Minting Errors
Some pennies contain printing mistakes that make them unique and valuable. Examples include:
- 1943 Copper Penny – Most 1943 pennies were made of steel due to wartime shortages, but a few were mistakenly struck in copper.
- 1955 Doubled Die Penny – A printing error caused a double image on the coin, making it one of the most famous error pennies.
- 1922 No D Penny – The Denver Mint mistakenly produced some pennies without a mint mark, making them rare finds.
2. Limited Mintage
Certain years had fewer pennies produced, making them harder to find. Some of the rarest include:
| Year & Mint Mark | Estimated Value (High Grade) | Notes |
|---|---|---|
| 1909-S VDB | $100,000+ | Only 484,000 minted. |
| 1914-D | $150,000+ | A rare early-year minting. |
| 1922 No D | $90,000+ | Denver Mint error with missing mint mark. |
3. Historical Significance
Coins linked to wartime production, special minting periods, or major changes in design often attract serious collectors.
Does the $100 Million Lincoln Wheat Penny Exist?
While reports claim a Lincoln Wheat Penny has been valued at $100 million, there is no confirmed sale or documentation proving such a price tag.
Even the most valuable Lincoln Penny ever sold—the 1943 Bronze Penny—only fetched $2.3 million at auction. The most expensive coin in history, the 1933 Saint-Gaudens Double Eagle, sold for $18.9 million, far below the rumored $100 million price.
The claim of a $100 million penny is likely based on speculation, an ultra-rare prototype, or an exaggerated valuation.
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! While a $100 million penny is extremely unlikely, rare Lincoln Wheat Pennies can still be found in:
- Pocket change
- Old coin collections
- Estate sales and auctions
- Coin rolls from banks
How to Identify a Rare Lincoln Wheat Penny
You don’t need to be a seasoned collector to spot a valuable penny. Follow these steps:
- Check the Date – Look for key years like 1909-S VDB, 1914-D, 1922 No D, 1943 Copper, and 1944 Steel.
- Inspect for Errors – Look for doubling, missing mint marks, or unusual metal compositions.
- Use a Magnet Test – If you find 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!
- Check Condition – Coins in better condition (little wear, clear details) sell for more.
- 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 discover a rare 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 idea of a $100 million Lincoln Wheat Penny may be an internet myth, but it highlights the exciting world of coin collecting. While no penny has reached that value, some rare Lincoln Pennies have sold for over $1 million, making them extremely valuable.
If you find a Lincoln Wheat Penny, take a closer look—it might be worth more than you think!
FAQs
Is there really a $100 million Lincoln Wheat Penny?
No, this is likely a hoax or speculation. The highest price paid for a Lincoln Penny is $2.3 million.
What is the most valuable Lincoln Wheat Penny?
The 1943 Copper Penny, which has sold for up to $2.3 million at auction.
Can I still find rare Wheat Pennies in circulation?
Yes! Some rare pennies may still be hidden in old coin jars, pocket change, or bank rolls.
