Collecting coins and hunting for treasure is a pastime with many followers. Nowadays, someone has come up with a claim that a Lincoln Wheat Penny could actually worth $10,000 million. But is it really so, or just another numismatic rumor?
We will find out in this article about the Lincoln Wheat Penny, its value in reality, and whether you have a chance to own one of these rare coins.
What Is the Lincoln Wheat Penny?
Lincoln Wheat Penny, or Wheat Cent, was minted in the US between 1909 to 1958. The design on the coin includes:
- Obverse: A portrait of Abraham Lincoln, designed by Victor David Brenner. It was the first US coin displaying a portrait of an actual historical figure.
- Reverse: Two wheat stalks are there that symbolize prosperity and strength. Hence, it is called “Wheat Penny”.
While the vast majority of Lincoln wheat pennies are just common coins, some unusual editions can be worth millions of dollars.
What Makes a Lincoln Wheat Penny Valuable?
Though, an important criterion for the value of any wheat penny are these:
Low Mintage – For example, some years had few coins minted, making them relatively rare:
- 1909-S VDB: Only 484,000 coins minted
- 1914-D: Only 1.2 million coins minted
Minting Errors – Examples of some include double strikes, misprints, or missing letters; these are what make such coins extremely valuable.
Rare Metal Composition – In 1943, because of World War II, the steel made most of the pennies. Some were made by mistake in copper, and these 1943 copper pennies sold for over $1 million.
Grading & Condition – The uncirculated or mint condition coins worth quite a lot. Worth less those have a bad or worn condition.
Is There a $10 Billion Lincoln Wheat Penny?
Indeed, there’s no wheat penny worth $10,000 million ($10 billion). It’s just a rumor on the internet. However, some rare Wheat Pennies have fetched pretty decent dollars in auction:
- 1943 Copper Penny- Up to $1.7 million
- 1909-S VDB-Up to $100,000
- 1955 Double Die Penny-up to $125,000
| Year & Type | Estimated Value | Why It’s Valuable? |
|---|---|---|
| 1943 Copper Penny | $1.7 – $2.3 million | Mistakenly struck in copper instead of steel. |
| 1944 Steel Penny | $1 million+ | Accidentally struck in steel instead of copper. |
| 1909-S VDB | Up to $100,000+ | Extremely low mintage of 484,000. |
| 1955 Doubled Die Penny | $50,000+ | A famous minting error caused a double image on the date and lettering. |
While these figures are considerably lower than $10 billion, these coins are still incredibly valuable.
Can a Rare Lincoln Penny Still Be Found in Circulation?
It’s rare, but it could be that you have a rare Wheat Penny hiding in your pocket, an old coins piggy bank, or a collection. Many people don’t realize what such coins are worth and spend them as ordinary coins, which is why, if you pay attention, you too might find a rare coin!
How to Check If Your Wheat Penny Is Valuable
If you find a Lincoln Wheat Penny, check its value with these steps:
- Check for the year and mint mark: Most Valuable Years: 1909-S VDB, 1914-D, 1943 Copper, etc.
- Almost always by mistake: Coins that have double dies, misprints, or off-center strikes are worth more.
- Use a magnet: A 1943 copper penny will not stick to a magnet, while a 1943 steel penny will.
- Weigh it: True copper penny weighs 3.11 grams, while a steel penny weighs 2.7 grams.
- Condition: Newer and shinier coins are generally more valuable.
- Get professional verification: Authentication services such as PCGS or NGC can authenticate and grade your coin.
Where to Sell a Rare Penny
If you find a valuable wheat penny, follow these steps:
- Coin Auctions: Heritage Auctions, Stacks Bowers, Great Collections; companies like those can fetch high prices.
- Numismatic Dealers: Professional dealers will point you in the direction of the real value of your coin.
- Online Marketplaces: Sell in eBay, Etsy, or through specialized coin sales sites.
- Coin Shows & Collector Events: You can deal directly with collector here.
Read More :- Rare Lincoln Wheat Penny Valued at $190 Million: A Collector’s Dream
Conclusion
The news about the $10 billion Lincoln Wheat Penny is just rumor. Some rare wheat pennies have obtained more than $1 million in sale price; thus, this coin means much to collectors. If you own an old wheat penny
FAQs:-
What is the Lincoln Wheat Penny?
It’s a U.S. coin minted from 1909 to 1958, featuring Abraham Lincoln on the front and wheat stalks on the back.
Which Lincoln Wheat Pennies are the most valuable?
The 1909-S VDB, 1914-D, and 1943 Copper Pennies are among the rarest and most expensive.
How do I check if my Wheat Penny is valuable?
Check the year, mint mark, look for errors, do a magnet test (for 1943 Copper), and get professional grading.