It might sound unbelievable, but some rare coins have sold for millions—and one of them is the Lincoln Wheat Penny, rumored to be worth up to $9.7 million. Could this historic coin still be floating around in everyday pocket change?
Let’s explore the facts, the mystery behind the value, and how you might spot one.
The Origins of the Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced in 1909 to honor President Abraham Lincoln’s 100th birthday. It was the first U.S. coin to feature a real person instead of a symbol like Lady Liberty. Designed by Victor D. Brenner, it had Lincoln’s face on the front and two stalks of wheat on the back—earning it the nickname “Wheat Penny.”
This design was used until 1958, and while most of these pennies are only worth one cent, a few rare versions can be worth thousands or even millions.
The Truth About the $9.7 Million Penny
So, is there really a Lincoln penny worth $9.7 million?
While there is no official record of a Lincoln Wheat Penny selling for exactly $9.7 million, some rare versions have fetched over $1 million in private sales or auctions. Most of the ultra-valuable pennies are error coins or rare mintings, such as the famous 1943 copper penny, which wasn’t supposed to exist.
It’s likely the $9.7 million figure is based on a mix of collector speculation, exaggerated reports, or private bidding wars. Even so, it highlights how valuable some coins can be under the right conditions.
Rare Lincoln Pennies That Actually Exist
Here are a few Lincoln Wheat Pennies that are confirmed to be incredibly valuable:
- 1943 Copper Penny – Only a few were made when copper was accidentally used during WWII. One sold for over $1.7 million.
- 1909-S VDB – Rare and highly sought after due to limited mintage. Worth up to $100,000 in top condition.
- 1955 Doubled Die – A minting error causes doubled letters. Valued at $10,000–$50,000.
- 1914-D – A low-mintage penny that can be worth tens of thousands.
How to Spot a Valuable Penny
Think you might have a treasure in your change? Here’s what to look for:
- Check the date – Rare years include 1909-S, 1914-D, 1922 (no mint mark), 1931-S, and 1943.
- Look for errors – Doubling of letters, wrong metal, or off-center designs can increase value.
- Test with a magnet – Most 1943 pennies are steel and magnetic. If yours is not magnetic, it might be the rare copper version.
- Inspect the mint mark – A small letter under the year shows where it was made. “D” is Denver, “S” is San Francisco, and no mark means Philadelphia.
What to Do If You Find One
If you suspect you’ve found a rare penny:
- Don’t clean it! This can hurt the value.
- Handle it by the edges or wear gloves.
- Store it safely in a coin holder.
- Get it professionally graded by services like PCGS or NGC.
- Consider selling through a reputable coin dealer or auction house.
Final Thoughts
While it’s unlikely a $9.7 million Lincoln Wheat Penny is still in circulation, very rare versions do exist, and some might still be hiding in old jars, drawers, or even in your pocket. That makes it well worth your time to check your change.
You never know—your next penny might be worth a fortune.