From time to time, a coin that is considered to be ordinary proves to be worth an extraordinary amount. One such coin is the Lincoln Wheat Penny which is reported to be worth 3.3 million dollars. The coin is still missing, and it is speculated that it could be hiding somewhere very accessible and apparent. Whether it is stored away in a broken piggy bank or is just lying aimlessly in someone’s pocket as loose change, the coin greatly contributes to a modern day treasure hunt.
Now, what is so extraordinary about this penny? Let’s break it down.
What is the Lincoln Wheat Penny is a question that is certain to rise among the audience that have not come across the coin. The Lincoln Wheat Penny or the Wheat Cent is a popular penny that was issued in the United States from 1909 to 1958. The penny depicts Abraham Lincoln on the front while the backside contains two wheat stalks which represent peace as well as prosperity. Such pennies have tremendous value to collectors due to their historical importance, design and elusive nature.
The rarest of the Lincoln Wheat Pennies is the 1943 Bronze Lincoln Wheat Penny.
The $3.3 Million Penny: Why It’s So Rare
In 1943, during World War II, the united states government stopped producing copper pennies since the u.s mint considered it a necessity needed for the war effort. Still, there was a possibility of a couple of copper planchets getting unused, hence, creating an error coin which can be invaluable in the future. Later on, zinc coated steel was used.
The bronze variety of the coin which is said to be available at the max in 1943 saw it bolstering into circulation immensely later on. Though the coin was considered priceless, the concept of collector coins eventually set the market for it in millions.
What Makes the $3.3 Million Penny Unique
One specific coin stands out throughout the rest. Moreover, the coin stands unmatched when it comes to a bronzed penny where the historical dust of a century old cache is inevitable left and shines with prestige. It greatly increased the asking price of $1.7 million back in 2010 due to inflation in the market at that time.
Now days its saying the rare estimation of it surpasses $3.3 million dollars. Even funnier, the useless gold is still unwilling to prematurely make an exit from it’s hideout.
Checking to See if You Have One
Supposing you are considering whether you could be in possession of one of these priceless coins, here’s how to check:
- Date: 1943
- Material: Bronze or copper – a 1943 penny’s common material is steel and has a silver color.
- Magnet test: Steel pennies will adhere to a magnet – the rarer bronze version won’t.
- Color: Bronze’s warm brown and reddish coloration gives it a nice tint whereas steel is a silver toned color.
- Weight: The bronze penny should weigh 3.11g while the lighter steel penny weighs around 2.7 grams.
If your coin meets all of these preliminary checks carry out a Grade and Authentication check from a reputable service like PCGS (Professional Coin Grading Service) or NGC.
Could There be a Million-Dollar Penny in Your Pocket?
The claim that a single penny can be valued at more than $3 million dollars appears to be astonishing, but in some sense, it is correct. A blend of history, scarcity, and a dash of mistake makes the 1943 bronze Lincoln Wheat Penny one of the most wanted coins globally. The best part being that there is a possibility that at least one of them is still in circulation.
This is a reminder to value the coins you have, especially pennies, so next time you’re at the grocery store, receiving change and the self-service kiosk, or riffling through a jar of old coins, do not disregard them.