The name given to it, the Lincoln penny worth $81 Million, could draw interest all over the globe. But is one of these ultra-rare coins really sitting in your pocket? Although the $81 million figure is most likely some speculation, certain Lincoln pennies, especially the famous 1943 Bronze Lincoln Wheat Penny, have fetched staggering prices at auction. This guide will take you through everything you need to know: how the 1943 Bronze Penny came into existence, how to tell one when you see it, why it is valuable, and the actual steps to take when you believe you may have found one.
Finding an $81 million Lincoln penny may sound more like a dream, but the very next thought is almost equally exhilarating. True numismatic treasure exists in the 1943 Bronze Lincoln Wheat Penny, with coins verified as selling for up to $1.7 million. If you think you might have one, follow the steps: date check, magnet test, weigh it, and send it for professional authentication. Your spare change in your pocket could be a life-changing discovery. Keep one eye open for all 1943s in circulation and you’ll strike gold; it’s worth the effort!
| Feature | Details |
|---|---|
| Coin | 1943 Bronze Lincoln Wheat Penny |
| Estimated Value | Up to $1.7 million depending on condition |
| Known Authentic Examples | Approximately 20 to 30 across all U.S. mints |
| Composition | 95% copper, 5% tin and zinc |
| Weight | 3.11 grams (bronze) versus 2.7 grams (steel) |
| Magnetism Test | Bronze is non-magnetic; steel sticks to magnets |
| Notable Sales | 1943-D Bronze Cent sold for $840,000 in 2021 |
| Authentication Services | Professional Coin Grading Service (PCGS), Numismatic Guaranty Company (NGC) |
| Historical Context | Wartime production error during World War II |
Understanding the 1943 Bronze Lincoln Penny: A Wartime Mistake
In 1943, with World War II raging, the U.S. Mint conserved copper for the war effort, moving penny production to zinc-coated steel. However, a small batch of left-over bronze planchets – blank metal discs – was inadvertently used.
As such, this mint error resulted in a few 1943 Lincoln Wheat Pennies birthing bronze instead of steel. Experts assume that there are fewer than 30 original 1943 bronze pennies, thus making it one of the rarest coins in American history.
These coins’ rarity, historical significance, and the air of mystery surrounding them have made them among the most sought-after of collectibles in the numismatic world.
How Much Is A 1943 Bronze Penny Worth?
While it is said that the value is $81 million, the reality is not quite as dramatic when one looks at auction results.
- One 1943-D (Denver mint) Bronze Penny was sold for $840,000 in an auction of Heritage in 2021.
- A Philadelphia-minted 1943 Bronze Penny has demanded as much as $1.7 million on the basis of condition and provenance.
Condition matters immensely; coins graded MS (Mint State) 63 and above are extremely much more valuable than coins that are scratched, worn, or damaged.
How to Tell if You Have a $81 Million Lincoln Penny?
Finding a valuable penny is kind of thrilling now, but correct identification is the main thing. This simple checklist should give you:
Step 1: Check the Date.
The coin must be dated 1943. Any other year, even if it looks bronze, disqualifies it immediately.
Step 2: Magnet Test.
Steel 1943 pennies are magnetic. Bronze 1943 pennies are not. Use any household magnet for this quick test.
Step 3: Weigh the Coin.
Steel pennies weigh about 2.7 grams. Bronze pennies weigh approximately 3.11 grams. Use a precision scale (available for less than 20 bucks online) to measure accurately.
Step 4: Look for Mint Marks.
Check for mint marks under the date:
- Philadelphia Mint =No mint mark
- Denver Mint=D
- San Francisco Mint=S
All mint marks are valuable if the coin is genuine bronze.
The Authentication Process: Why Certification Matters
Because of the extreme value of the 1943 Bronze Penny, counterfeit coins are very much a worry. Some scammers plate steel coins with copper to mimic the bronze look.
How to authenticate:
- Submit your coin to credible services like:
- Professional Coin Grading Service (PCGS)
- Numismatic Guaranty Company (NGC)
- Certified coins are:
- Expert tested
- Weighed with utmost precision
- Authenticated with X-Ray fluorescence (XRF) for metal composition verification
- Graded by quality and put safeguarded against tampering
Without the professional authentication in hand, full market value cannot be realized when going for a sale.
Why Rare Coins Like the 1943 Bronze Penny Matter?
Rare coins are viewed as alternative investments, just like art or fine wine. According to the Knight Frank Wealth Report, collectibles-like coins appreciated with over 120% between 2010 and 2020.
Professional collectors enjoy the 1943 Bronze Penny for the following reasons:
- Limited supply.
- Historic moment.
- Highly portable and easily stored.
- Long-term appreciation.
Common Mistakes to Avoid
- Assuming any brown 1943 penny is rare. Some are simply dirty steel pennies.
- Relying on eBay listings without expert verification. Many fakes are sold online.
- Skipping authentication to “save money.” Skipping this crucial step risks losing tens or hundreds of thousands of dollars.
- Always verify and certify before buying, selling, or even announcing your discovery.
Other Valuable Lincoln Pennies to Watch For
Apart from the 1943 Bronze Penny, these Lincoln pennies are great collectibles:
- 1909-S VDB: First-year issue with initials of designer Victor D. Brenner. Can be worth over $100,000.
- 1914-D: Really scarce; worth between $10,000-$150,000 depending on condition.
- 1955 Doubled Die Obverse: A well-known error with doubled lettering visible to the naked eye. Values range from $1,500 to $50,000.
- 1944 Steel Penny: Another wartime minting error; worth $100,000+.
- These are all serious contenders when it comes to adding to the value of any collection!
FAQs:
How rare is a 1943 Bronze Lincoln Penny?
Fewer than 30 authentic examples are known to exist across all mints.
How much does it cost to authenticate a coin?
Basic authentication services start at about $50-$150 depending on the value of the coin and speed of service.
Can steel pennies turn brown and look like bronze?
Yes. Steel pennies often rust and discolor, mimicking the appearance of bronze. A magnet test and weight check can clarify.
What is the most expensive Lincoln penny ever sold?
A 1943-S Bronze Penny was once sold for over $1 million.
