Look in your pocket, the Lincoln wheat penny is still in circulation and is valued at $168,000 and we tell you how to identify it
Here’s what to look out for to find this pretty penny and what to do if you find one.
Be sure to check your pockets for the Lincoln Wheat Penny, an old coin that is still flashing in and out of tills across the United States and can regularly be sold for upwards of $150,000.
The United States Mint introduced the Lincoln Wheat Penny way back in 1909 as a way of marking the centennial of Abraham Lincoln’s birth.
Why is it called the ‘Wheat Penny’?
The coin displays Lincoln’s portrait on the obverse and two wheat stalks on the reverse, earning its nickname “Wheat Penny.”
The one to look out for is the 1943-S variation, which has one outstanding feature.
Simply put, it’s the change in material: in 1943, due to World War II, the US Mint started making pennies out of zinc-coated steel as they were prioritising the useage of copper in all-important war supplies.
However, a few bronze planchets were accidentally left on the production line, meaning a tiny number of 1943 Bronze Wheat Pennies were actually minted. Demand is high from keen-eyed collectors, meaning these bronze coins are the ones that earn you the big bucks.
The highest price ever seen for a bronze Lincoln 1943-S penny was sold to collector Bob R. Simpson, co-chairman of the Texas Rangers baseball club, who paid $1 million for the finest known 1943-S Lincoln Wheat penny on a bronze planchet.
How to tell if you have a bronze 1943-S penny:
If you’re unsure, there are a few ways that you can check if your penny is worth millions: a regular 1943 penny is made of steel, which will stick to a magnet. A bronze penny won’t.
If you’re still not sure, get out the magnifying glass and look for a 1943-S marking - the “S” stands for San Francisco Mint. A third way to test what’s in your pocket is by weighing the penny. A genuine bronze penny weighs around 3.11 grams, while the steel penny just 2.7 grams.
Happy hunting!
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