What if a penny in your change was worth $120 million? The Lincoln Wheat penny, minted from 1909 to 1958, is a common coin, but rumors swirl about a rare version valued at this staggering amount that might still be in circulation. While no penny has sold for $120 million, certain Wheat pennies with unique errors or features can fetch millions. Here’s what to know about this legendary coin and how to spot one.
The Lincoln Wheat Penny History
The Lincoln Wheat penny, with Abraham Lincoln’s face on the front and two wheat stalks on the back, was first minted in 1909 to honor the president. Billions were made in Philadelphia (no mint mark), Denver (D), and San Francisco (S). Most are worth just a cent, but rare errors, low mintages, or pristine condition make some incredibly valuable. Collectors treasure these coins for their classic design and historical significance.
The $120 Million Myth
Talk of a $120 million Lincoln Wheat penny is likely exaggerated or unverified. No documented sale has reached this price. However, rare Wheat pennies have sold for big money, like a 1943 bronze penny that fetched $1.7 million in 2010 or a 1909-S VDB penny valued at up to $750,000. The $120 million figure may stem from confusion with other coins or hyped-up stories, but a rare error penny could still be worth thousands or millions.
Rare Pennies to Look For
To find a valuable Wheat penny, check for these features:
- 1943 Bronze: A reddish-brown penny that doesn’t stick to a magnet, unlike steel wartime pennies.
- 1909-S VDB: Has “VDB” initials on the back and an “S” mint mark, with only 484,000 minted.
- 1955 Doubled Die: Blurry or doubled lettering, especially on the date and “LIBERTY.”
- 1914-D: Low mintage of 1.2 million, worth more in top condition.
Use a magnifying glass to inspect the date, mint mark, and design. Coins graded MS-65 or higher by PCGS or NGC fetch the highest prices.
Where to Hunt for These Coins
These rare pennies could be hiding in your coin jar, pocket change, or an old collection. Check bank rolls, vending machine returns, or inherited piggy banks. With billions of Wheat pennies minted, finding a million-dollar one is a long shot, but it’s possible. Don’t clean any promising coins—cleaning lowers their value. Take them to a trusted coin dealer or grading service like PCGS for appraisal, and consider selling at auction for the best price.
Why Collectors Are Obsessed
Lincoln Wheat pennies are a collector’s favorite for their nostalgic design and historical value. Rare errors and scarce years, like 1943 or 1909-S, drive up demand. As fewer Wheat pennies remain in circulation, their worth grows, especially for perfect examples. Even if the $120 million price is a myth, a rare Wheat penny could still bring life-changing money, making the hunt thrilling.
| Penny Type | Year | Feature/Error | Potential Value |
|---|---|---|---|
| Bronze Error | 1943 | Struck on bronze planchet | Up to $1.7 million |
| VDB Initials | 1909-S | “VDB” on back, low mintage | Up to $750,000 |
| Doubled Die | 1955 | Blurry or doubled lettering | Up to $125,000 |
| Low Mintage | 1914-D | High-grade condition | Up to $200,000 |
Don’t toss those old pennies! A rare Lincoln Wheat penny might not be worth $120 million, but it could still make you rich. Grab a magnifying glass and check your change today—you might just find a treasure!
