It’ll be a discovery worth $140,000 when you find a penny in your pocket change. It’s purely out of the ordinary, which is a rare 1943 Copper Lincoln Wheat Penny. This is one of the most sought coins in numismatic history. So, does this coin still exist in general circulation, or is it in a collector’s box? Let’s take a look at this mysterious coin and learn how to identify it.
Mystery of the $140K Lincoln Wheat Penny
The 1943 Copper Lincoln Wheat Penny is one of the most valuable and interesting coins in American history. Although it’s very rare, it’s likely that a few of them are still out there undetected. If you stumble upon a penny from 1943, make sure to look long and hard—you may just be on the verge of a small fortune!
| Topic | Description |
|---|---|
| Coin | 1943 Copper Lincoln Wheat Penny |
| Minting Error | Accidentally struck in copper instead of steel during WWII |
| Rarity | Approximately 20 known specimens |
| Estimated Value | $140,000+ depending on condition |
| Identification Tips | Non-magnetic, weighs 3.11 grams, unique copper color |
| Official Resources | PCGS, NGC |
Wartime Change: From Copper to Steel
In World War II, a critical decision was made by the U.S. Mint to no longer make pennies in copper in order to reserve the use of copper for the war effort. The year 1943 was supposed to see the minting of pennies in zinc-coated steel, allowing more copper to be used for military purposes. However, errors in minting led to the accidental striking of several with the leftover copper planchets from 1942, making these coins extremely rare.
Why the 1943 Copper Penny Is Worth So Much
Several reasons account for the value of the 1943 Copper Penny.
- Rarity – There are only 20 certified pieces known to exist, making it one of the rarest coins in the U.S. Mint’s history.
- Historical significance – This coin represents a key moment in American history during wartime production adjustments.
- Collector demand – Numismatists and investors around the world seek out this rarity to add to their collections, causing its price to increase.
In 2010, one such penny sold for $1.7 million, making it a news story.
Could the $140K Penny Still Be in Circulation?
Although the probability is very low, it is not impossible! Many old coins are still in circulation, especially from estate sales or coin jars that have been passed down through the generations. Some unsuspecting individuals may spend these coins without knowing it, and thus not realize their value.
How to Identify the $140K Lincoln Wheat Penny?
Before getting too excited, it is important that you check whether your 1943 penny is real. Follow these steps to identify it:
- Check the Date and Mint Mark
- Make sure the penny has the date “1943” on it (without any additional marks or alterations). Look for mint marks: D (Denver), S (San Francisco), and No Mint Mark (Philadelphia).
- Use the Magnet Test
- A genuine copper penny is non-magnetic, while the 1943 steel penny will stick to magnets. If your penny sticks to magnets, it cannot be the rare copper version.
- Weigh the Coin
- A genuine copper penny weighs 3.11 grams, while the steel version weighs 2.7 grams. Check its weight using a digital scale.
- Identify Counterfeit Coins
- Many fake 1943 copper pennies exist. Some of these steel coins have been plated or the 1948 penny’s “8” has been changed to a “3.” Always have your coin authenticated by a professional grading service such as PCGS.
Famous Discoveries of 1943 Copper Pennies
Some famous discoveries include:
- In 1947, a schoolboy found a 1943 copper penny in his lunch money in California and later sold it for thousands of dollars.
- In 1958, a woman found a 1943 copper penny in her husband’s coin collection.
- In 2019, a man sold his long-forgotten 1943 penny at auction for $204,000.
Value of a 1943 Copper Penny Based on Condition
Depending on the condition (grade) of the coin its value may be as follows:
| Condition | Estimated Value |
|---|---|
| Good (Circulated) | $60,000 – $85,000 |
| Fine | $100,000 – $140,000 |
| Uncirculated (Mint State) | $200,000+ |
| Proof or Extremely Rare Specimens | $1 Million+ |
How to Sell a 1943 Copper Penny?
If you think you own a genuine copper penny of 1943, follow these steps for selling it at the best price:
- Get it authenticated by a professional – You’d want to have it checked to see whether or not it’s real through PCGS or NGC.
- Contact trustworthy coin dealers – Dealers like Heritage Auctions or Stack’s Bowers are good places to look.
- Forget about the pawn shop – coins collectors are likely to give you a higher sell-back value than a regular pawn shop.
- Consider online auctions – like eBay, as long as you have proof of authenticity.
FAQs
Q. What is the 1943 Copper Lincoln Wheat Penny?
A. It’s a rare penny accidentally struck in copper instead of steel during WWII, worth up to $140,000+ depending on its condition.
Q. How many 1943 copper pennies are known to exist?
A. Only about 20 authentic 1943 copper Lincoln Wheat pennies are known to exist.
Q. How can I identify a 1943 Copper Lincoln Wheat Penny?
A. Look for the year “1943”, use a magnet test (it’s non-magnetic), weigh it (3.11 grams), and check its copper color.
Q. How much is a 1943 Copper Lincoln Wheat Penny worth?
A. The value can range from $60,000 to over $1 million, depending on its condition and rarity.
Q. Where can I sell a 1943 Copper Lincoln Wheat Penny?
A. For the best value, sell through professional services like PCGS or NGC or contact reputable coin dealers or auction houses.