The history of coins is replete with tales of unusual coins selling for millions of dollars at auctions. They consist of the 1943 Lincoln Wheat Penny sold at a record-shattering $1.7 million.
Continue reading in the interesting tale of this penny and the addition of seven more offbeat coins that generated waves among collectors all over the globe.
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The 1943 Lincoln Wheat Penny: A $1.7 Million Wonder
Since copper was reserved for war use, pennies produced in the United States were struck using zinc-plated steel by the U.S. Mint during World War II.
The very rare 1943 Copper Wheat Penny was an error that resulted from the 1942 copper planchets being used in 1943.
There are reported to be between 30 and 40 of those coins that are known to exist. One 1943-D copper cent was sold in 2010 for $1.7 million, showing just how rare and sought after it is.
Seven More Rare Coins to Discover
Aside from the 1943 Lincoln Wheat Penny, many other coins have become legends because of just how rare and the prices they’ve sold for:
- 1913 Liberty Head Nickel There were just five examples of the Liberty Head Nickel 1913 produced. It never made it into circulation among the general public from the U.S. Mint, so it’s even more of an enigma. One was sold in Philadelphia for $4.56 million in 2018.
- 1933 Double Eagle ($20 Gold Coin) The 1933 Double Eagle is notorious — or rather, famous. Although 445,500 were produced, none entered circulation because of the Gold Reserve Act. The majority of them were melted, but a few did not get away. One of them was sold for a record $18.9 million in 2021.
- 1944 Steel Wheat Penny In 1944, the U.S. Mint went back to making pennies out of copper. Unbeknownst to them, a handful of steel 1943 planchets were unintentionally worked, and a very scarce 1944 Steel Wheat Penny was struck. There are around 30 coins, and higher-quality specimens grade and sell for $75,000 to $125,000.
- 1955 Doubled Die Lincoln Penny A minting error that resulted in doubling the date and inscriptions resulted in a 1955 Lincoln Penny error. Between 20,000 and 24,000 of such error coins were minted. They fetch more than $100,000 when fine at auctions.
- 1970-S Small Date Lincoln Penny The variation in the size of the date makes this coin special. Coins of this coin with a high grade have sold for approximately $18,400.
- 1979 Susan B. Anthony Dollar Over Jefferson Nickel This is a collector’s item that resulted from mistake when the Susan B. Anthony was overstruck on the Jefferson Nickel. The overstamps are rare, and this specimen was auctioned at $15,275.
- 1927-D Double Eagle ($20 Gold Coin) Committed to being the 20th century’s most elusive U.S. gold coin, the 1927-D Double Eagle is worth up to an estimated $7 million to uncirculated examples.
Rare Coins and Their Values
| Coin Name | Year | Notable Feature | Estimated Value |
|---|---|---|---|
| 1943 Copper Wheat Penny | 1943 | Minted on copper planchet by mistake | Up to $1.7 million |
| 1913 Liberty Head Nickel | 1913 | Only five known to exist | $4.56 million |
| 1933 Double Eagle | 1933 | Withdrawn from circulation, few survived | $18.9 million |
| 1944 Steel Wheat Penny | 1944 | Steel planchet used instead of copper | $75,000 – $125,000 |
| 1955 Doubled Die Lincoln Penny | 1955 | Double image due to minting error | Over $100,000 |
| 1970-S Small Date Lincoln Penny | 1970 | Smaller date font variation | $18,400 |
| 1979 Susan B. Anthony Dollar Over Nickel | 1979 | Overstamp error on Jefferson Nickel | $15,275 |
| 1927-D Double Eagle | 1927 | Rarest U.S. gold coin of 20th century | $7 million |
One of the joys of collector coins is the monetary one as well as the fact that they are historically and story-graced. From mint errors to inaccuracies in history, these coins provide a physical link to the past.
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For their fans and owners, the search for these treasure chests is both a work of love as well as protecting the past.
FAQ’s
Q. Why is the 1943 Lincoln Wheat Penny worth $1.7 million?
A. It’s a minting mistake – made in copper rather than steel during WWII.
Q. How many 1943 Copper Pennies exist?
A. There are approximately 30 to 40 known to exist.
Q. Are rare coins in circulation?
A. Indeed, although infrequently, some noteworthy coins still find their way into change.