$170 Million Lincoln Wheat Penny: Most people never think twice about the coins sitting at the bottom of their pockets or resting inside a jar on the kitchen counter. Yet every now and then a story surfaces about someone discovering a rare coin worth more than a luxury home or a lifetime of savings. Among all the American coins that have captured collectors’ imaginations, none are more fascinating than the Lincoln Wheat Penny. Some versions of this coin are so rare and valuable that the mere idea of finding one creates excitement and hope. The question that many people ask is simple. Could a penny in your loose change actually be worth millions? The truth is surprising and far more interesting than most expect.
The History Behind the Lincoln Wheat Penny
The Lincoln Wheat Penny was first minted in 1909 to honor the one hundredth anniversary of Abraham Lincoln’s birth. It was the first American coin to feature a real historical figure rather than a symbolic representation. The coin carried the familiar portrait of Lincoln on the front along with two wheat stalks on the back, giving it the nickname Wheat Penny.
For fifty years, the Wheat Penny circulated widely. During those years the United States went through major events including two world wars, the Great Depression, the industrial boom, and shifting economic conditions. Each phase influenced production and the availability of certain coins. While millions of Wheat Pennies were minted, a handful of them were created in unusual conditions that resulted in unique and extremely valuable variations. These rare coins continue to be hunted by collectors, investors, and curious treasure seekers.
Understanding What Makes a Penny Valuable
Not all old coins are valuable. In fact, most Wheat Pennies are worth only a few cents. The true value comes from rarity and errors. When a coin is struck incorrectly, made with the wrong metal, or printed in very small quantities, it becomes a key target for collectors.
Historical significance also plays a role. For example, wartime materials or unexpected changes in metal usage can lead to mistakes that later become prized items. Condition is another major factor. A coin with sharp details and minimal wear is far more desirable than one that has been heavily handled.
Among Lincoln Wheat Pennies, only a few varieties stand out as legendary finds. These coins are considered the crown jewels of the penny world and can reach astounding prices at auctions.
The Myth of the 170 Million Dollar Lincoln Penny
Over the years rumors have spread online claiming that a Wheat Penny sold for 170 million dollars. This number has circulated widely and captured imaginations everywhere. While this exact figure does not align with verified auction records, some rare Wheat Pennies have sold for hundreds of thousands and even more than a million dollars. The idea of a single coin reaching an unbelievable amount continues to fuel curiosity.
The three types of Wheat Pennies most often associated with enormous values are the 1943 Bronze Penny, the 1909 S VDB Penny, and the 1914 D Penny. These coins are rare enough that collectors will pay extraordinary prices for high quality examples. Even though the legendary 170 million number is more myth than reality, the value of these rare coins is still astonishing.
The Infamous 1943 Bronze Wheat Penny
One of the most famous and valuable pennies ever created is the 1943 Bronze Wheat Penny. During World War Two the United States Mint switched from copper to steel for penny production because copper was needed for wartime equipment. However a few bronze planchets from 1942 accidentally remained in the machines and were stamped with the 1943 design. The result was a tiny number of bronze 1943 pennies that slipped into circulation.
Only a few dozen of these coins are known to exist. Some of them have sold for well over a million dollars depending on condition. Finding one today would be like winning a private lottery. Many people check their change hoping to spot the unexpected brown tone of a copper penny from that year. The steel version from 1943 is common and has a silver gray color, while the rare bronze version looks like a normal copper penny. This difference makes the search thrilling for coin enthusiasts.
The Highly Sought After 1909 S VDB Penny
Another rare treasure is the 1909 S VDB Wheat Penny. Designed by Victor David Brenner, the initials VDB originally appeared prominently on the reverse of the coin. Some critics argued that the initials were too noticeable, so the Mint removed them shortly after production began. Only a small number of coins with the initials were made at the San Francisco Mint, creating one of the most desirable coins in the series.
Collectors value this penny because it marks the beginning of the Lincoln series and carries an artistic signature that was quickly withdrawn. Well preserved examples can reach impressive prices at auctions and remain among the most sought after coins in American numismatics.
The Rare and Valuable 1914 D Penny
The 1914 D Wheat Penny is another coin that often surprises people with its high value. While not an error coin, it is rare because the Denver Mint produced a very limited number of them and many were heavily circulated. Finding one in excellent condition is extremely difficult.
Collectors love this coin because it fills an important place in the Wheat Penny series. Even moderately worn versions can sell for large sums. High grade examples are considered treasures by penny collectors.
How to Check Your Spare Change for Valuable Pennies
Searching for rare pennies is easier than most people think. The first step is to set aside any Wheat Pennies you encounter. They are easy to spot because the reverse side features two wheat stalks instead of the modern Lincoln Memorial or Union Shield design.
Once you have a few, inspect the dates and mint marks. Rare dates like 1909, 1914, and 1943 should catch your attention immediately. Look for the mint letters S or D beneath the date, which indicate where the coin was made. Some variations are rare only from certain mints.
Next, examine the overall condition. Sharp details, clean surfaces, and minimal scratches can dramatically increase value. Coin magnifiers are inexpensive and useful for spotting important details.
If you believe you have found something exceptional, set it aside safely and consider having it professionally evaluated. Even if it is not worth a fortune, many older coins still have collectible value.
Why These Rare Pennies Capture So Much Interest
Rare coins appeal to people because they combine history, mystery, and the potential for a life changing discovery. Every coin represents a moment in time, shaped by the technology and circumstances of its era. The idea that a tiny metal disc could be worth a home, a luxury vacation, or even a small fortune makes coin collecting exciting for beginners and experts alike.
Even if the legendary 170 million dollar penny remains a myth, the real rare Wheat Pennies are valuable enough to spark interest and keep treasure hunters searching pockets, drawers, and jars every day.
