The $145 Million Lincoln Wheat Penny: Still in Circulation

The Lincoln Wheat Penny is a favorite amongst enthusiasts of American numismatics due to its being minted between 1909 and 1958. It was designed by Victor David Brenner in honor of the 100th birthday of the first president of the United States, Abraham Lincoln. In American history, it is an important coin and the first president stamped on a coin in American history.

Most Lincoln Wheat Pennies are common but rare varieties have sold for high prices at auction. A few weeks back, a Lincoln Wheat Penny was claimed to have sold for $145 million and this threw curiosity and skepticism amongst coin collectors and the coin experts.

The Lincoln Wheat Penny.

On the reverse, the wheat plants symbolizing national prosperity, the Lincoln Wheat Penny shows the profile of Lincoln and the reverse of the coin depicts two wheat plants, two of which are fructifying and one drying. It was primarily made of copper and produced in mass at branches of the U.S. Mint. Some years, and even some mint marks, have established themselves as especially valuable over time because the mintage was low or there was an error.

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The 1943 Copper Penny: A Notable Rarity

Copper was needed in the military during World War II so U.S. Mint made pennies out of zinc coated steel in 1943. Some pennies, though, were made of copper pewter by mistake. 1943 copper penny coins feature among the most famous error coins in the world of coin collecting. And because they are rare, these coins have fetched millions of dollars (and some have sold for hundreds of thousands).

The Truth About the $145 Million Valuation

There are recently published articles stating that the Lincoln Wheat Penny can sell for as much as $145 million. Yet, there is no firm proof of this fact. The highest recorded auction price for a 1943 copper penny was around $840,000 for a 1943-D Lincoln Bronze Wheat Penny. This is a lot of money, but it is nothing like $145 million.

Factors Affecting Coin Value

There are several factors that determine the price of a coin:

Rarity: More valuable coins are those minted in small numbers or containing special errors.
Condition: The higher quality the coin and how nice and clean it is found makes it more valuable.
Historical significance: More valuable coins would relate to a particular event or time period.
Market demand: The more valuable a coin is, the more in demand it is.

Major Auctions of Rare Lincoln Wheat Pennies

Here are some important Lincoln Wheat Penny auction prices:

Year	Coin Type	Auction Price
1943	1943-D Bronze Cent	$840,000
1943	1943-S Bronze Cent	$504,000
1944	1944-S Steel Cent	$373,750
1943	1943 Bronze Cent (Philadelphia)	$372,000
1943	1943 Bronze Lincoln Cent	$348,000

Identifying Valuable Lincoln Wheat Pennies

Collectors should be aware of some important dates and mint marks that mark coins with higher value:

1909-S VDB: With designer Victor David Brenner’s initials; limited minting.
1914-D: Reduced minting from the Denver Mint.
1922 No-D: Pennies from the Philadelphia Mint that were accidentally made without the “D” mint mark.
1955 Doubled Die Obverse: Prominent doubling in the date and wording.

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Conclusion

Lincoln Wheat Pennies are important coins for American history and collecting, and some of their special varieties have achieved record prices. The $145 million rumor is incorrect, however, and most valuable coins, such as the 1943-D Bronze Cent, can reach prices as high as $840,000. Collectors should be wary of such exaggerated valuations and rely on verified auction records and expert appraisals.

FAQs

Q. What is the Lincoln Wheat Penny?

A. The Lincoln Wheat Penny was minted from 1909 to 1958 and features President Abraham Lincoln’s profile. It is a popular collectible coin in American numismatics.