It sounds too good to be true: a single penny worth $346,000, possibly still hiding in someone’s change jar or buried in a forgotten drawer. Yet, this story isn’t just fantasy — some Lincoln Wheat Pennies are so rare and valuable that collectors are willing to pay hundreds of thousands of dollars for them. And yes, a few of these legendary coins have even been found in circulation.
So what’s the deal with this six-figure penny? Let’s dig into the history, the coin, and how you might identify one yourself.
What Is a Lincoln Wheat Penny?
The Lincoln Wheat Penny, minted between 1909 and 1958, features the profile of President Abraham Lincoln on the front and two wheat stalks on the reverse. It was the first U.S. coin to honor a real person and has since become a favorite among coin collectors.
Millions were produced — but some versions are extremely rare, and those are the ones that bring in big bucks.
The Penny Worth $346,000: The Real Story
The penny in question is most likely one of the 1943 bronze Lincoln Wheat Pennies, one of the most valuable and famous error coins in U.S. history.
1943 Bronze Wheat Penny
- Why it’s valuable: In 1943, the U.S. Mint switched from copper to zinc-coated steel pennies to save copper for WWII. However, a few bronze blanks from 1942 were mistakenly left in the minting machines.
- How rare is it? Fewer than 20 examples are known to exist across all mints (Philadelphia, Denver, and San Francisco).
- Auction record: One of these bronze 1943 pennies sold for $346,000 at auction — and some have fetched even more.
How to Identify the $346K Penny
Think you might have a golden (or bronze) ticket in your pocket? Here’s what to check:
- Date: It must say 1943.
- Color: It should be brown or copper, not silver-gray like most 1943 steel pennies.
- Magnet Test: Use a small magnet. Steel pennies stick to a magnet. A genuine 1943 bronze penny will not.
- Weight: A bronze penny weighs about 3.11 grams. A steel penny weighs just 2.7 grams.
- Mint Mark: Look below the date for a D (Denver), S (San Francisco), or no mark (Philadelphia).
If you’ve got a 1943 copper-colored penny that doesn’t stick to a magnet, don’t spend it — it might be the one.
Other Valuable Wheat Pennies to Watch For
While the 1943 bronze penny is the star of the show, here are a few other Lincoln Wheat Pennies worth thousands:
- 1909-S VDB – Worth up to $100,000
- 1922 “No D” – Worth up to $40,000
- 1955 Doubled Die – Worth up to $15,000
- 1944 Steel Penny – Worth up to $100,000
These coins aren’t just museum pieces — many were found in circulation or personal collections.
If You Think You Have One…
- Don’t clean it. Cleaning a coin destroys its value.
- Use gloves to handle it or touch only the edges.
- Store it safely in a coin holder or plastic flip.
- Get it appraised by a professional or send it to a grading service like PCGS or NGC.
Final Thought: Is It Still Out There?
Absolutely — it’s possible, though extremely rare. A handful of 1943 bronze Lincoln Wheat Pennies have surfaced over the years in places as ordinary as pocket change or estate boxes. Could another one still be out there, quietly riding in circulation?
Maybe. One thing’s for sure: check your pennies. That one-cent coin could be worth a life-changing $346,000 — and possibly more.
