Imagine rummaging through your old coin jar or wallet, only to discover that one of your humble-looking pennies is worth more than $20 million. Sounds like something out of a dream or a movie plot, right? But this is no fiction. There’s a real-life Lincoln Wheat penny—small, copper-colored, and easy to overlook—that has earned the nickname “The $20 Million Penny.”
This coin isn’t just a collector’s fantasy—it’s a piece of numismatic history that combines extreme rarity, historical intrigue, and the thrill of treasure hunting. Here’s the full story behind this incredible coin and why it’s sending shockwaves across coin collecting communities and auction houses alike.
The Origin of the Lincoln Wheat Penny
The Lincoln Wheat penny was first minted in 1909 to commemorate the 100th birthday of President Abraham Lincoln. It was the first U.S. coin to feature a real person’s face, breaking away from the traditional allegorical figures. Designed by Victor David Brenner, it featured Lincoln on the obverse (front) and wheat stalks flanking the words “ONE CENT” on the reverse.
Minted from 1909 to 1958, the Wheat penny is already a collector’s favorite, especially rare dates like:
- 1909-S VDB
- 1914-D
- 1922 No D
- 1955 Double Die
However, none of these command attention or a price tag quite like the $20 million Lincoln Wheat penny.
The Coin That Changed Everything: The 1943 Bronze Penny
During World War II, the U.S. needed copper for ammunition and military equipment. So, in 1943, the Mint decided to strike pennies using zinc-coated steel instead of copper.
But due to a minting error, a small number of 1943 pennies were struck in bronze (copper alloy)—using leftover planchets (coin blanks) from 1942. Only fewer than 20 of these bronze pennies are known to exist today. These are the most well-known and sought-after error coins in American numismatics.
One of These Copper 1943 Pennies Is Worth Over $20 Million
Not all of the 1943 copper pennies are the same. One specific coin—flawless, authentic, and certified—has been appraised and insured for $20 million. This makes it one of the most valuable coins in the world, and certainly the most famous U.S. penny in history.
What Makes This Coin So Valuable?
Several rare coins have fetched millions, but what sets this penny apart? Let’s break down the factors:
1. Extreme Rarity
Only a handful of 1943 bronze cents are known to exist across all U.S. mints (Philadelphia, Denver, San Francisco). These were accidental strikings that escaped the Mint’s quality controls.
2. Historical Context
Struck during the chaos of World War II, these coins are relics of a crucial time in American history. The bronze penny represents a deviation caused by urgency, human error, and historical necessity.
3. Authentication
The $20 million penny has been authenticated and graded by the Professional Coin Grading Service (PCGS) as MS-63 Red-Brown, indicating superior mint state condition. It’s not just rare—it’s pristine.
4. Public Fascination
Its notoriety has only grown with time. Every new article or appearance in media adds to its legend. Wealthy collectors, celebrities, and investment funds have all reportedly shown interest.
5. High-Profile Sales
One of the last public sales of a 1943 bronze penny fetched $1.7 million in a 2010 auction. Private sales since then have skyrocketed in value. The $20 million coin stands out for its unmatched quality and provenance.
The Owner’s Mystery and Millionaire Mania
The exact identity of the current owner of the $20 million penny is a closely guarded secret. It’s rumored to be held in a private collection, locked in a high-security vault. However, the coin has made rare public appearances, including:
- Coin expos and numismatic conventions
- Museum exhibitions
- Auction previews
Some reports suggest interest from Hollywood actors, hedge fund managers, and overseas collectors. The sheer mystique around the coin contributes to its mind-boggling value.
Other Famous 1943 Bronze Pennies
To understand just how rare this coin is, here’s a quick rundown of some other known 1943 bronze cents:
- 1943-D Bronze Penny (Denver Mint): Only one known. Sold for over $1.7 million.
- 1943-S Bronze Penny (San Francisco): Only six or seven known.
- 1943 Philadelphia Bronze Pennies: A dozen known, but none match the quality or provenance of the $20 million specimen.
Each of these coins is valued at over $250,000 even in lesser grades. But only one is considered museum-worthy in both condition and story—and that’s the $20 million penny.
How to Identify a 1943 Bronze Penny
If you’re feeling lucky and want to check your coin jar, here’s how you can identify a potential 1943 bronze penny:
- Use a Magnet
- Steel 1943 cents will stick to a magnet.
- A bronze 1943 penny will not—it’s non-magnetic.
- Check the Weight
- Steel cents: ~2.7 grams
- Bronze cents: ~3.11 grams
- Look for the Date and Mint Mark
- Confirm it’s 1943
- Look for a “D” (Denver) or “S” (San Francisco) mint mark
- Get It Authenticated
- Never try to sell or trade a rare penny without third-party certification from PCGS or NGC.
- Many counterfeits exist, often made by altering 1948 coins or copper-plating steel ones.
Why the Lincoln Cent Has Become a Collector’s Dream
The Lincoln Wheat penny, despite being a common coin in circulation for decades, has grown in stature among collectors for several reasons:
- Long production run (1909–1958 for Wheat design)
- Connection to Abraham Lincoln, one of America’s most respected presidents
- Varieties and errors offer endless possibilities for collectors
- Affordability of entry—most Wheat pennies can still be found for under $1, but the rare ones fetch thousands or even millions
This accessibility, paired with the “lottery ticket” allure, has made penny collecting one of the most popular forms of numismatics in the U.S.
Could You Have One?
While the odds are slim, the possibility of a $20 million penny being tucked away in a forgotten drawer is what keeps treasure hunters and amateur collectors inspired.
Keep an eye out especially for:
- 1943 pennies that don’t stick to magnets
- Odd coloring (bronze instead of gray steel)
- No signs of tampering (like altered numbers)
Even if you don’t find the $20 million one, finding a lesser bronze 1943 penny could still land you a life-changing payday.
Conclusion: A Tiny Coin with Titanic Wort
In a world driven by technology and digital assets, it’s remarkable how a 1-cent coin from over 80 years ago can command $20 million in value. The Lincoln Wheat penny, already a staple of American coin collecting, has produced what may be the most valuable penny in history.
Whether you’re a seasoned collector or someone just emptying their pocket change at night, this story proves that extraordinary value can be hiding in plain sight.
So, the next time you spot a dusty jar of coins or an old piggy bank—take a closer look. Your million-dollar miracle might just be waiting to be discovered.