1943 Copper Lincoln Wheat Penny Sells for $6.6 Million

Pennies are often something we ignore, as they tend to accumulate in our pockets or in small forgotten jars. However, what many don't know is that some of these coins can have unbelievable value.

Pennies are often something we ignore, as they tend to accumulate in our pockets or in small forgotten jars. However, what many don't know is that some of these coins can have unbelievable value. Among them, there is a variety of the famous Lincoln Wheat Penny that has been sold for 6.6 million dollars at an auction, an amount that is hard to believe.

The Lincoln Wheat Penny was introduced in 1909 to commemorate the centennial of Abraham Lincoln's birth. It was the first U.S. penny to feature a real historical figure, designed by Victor David Brenner.

The coin has Lincoln's portrait on the obverse and two wheat stalks on the reverse, a symbol of prosperity. Most of these coins, like the 1944 Lincoln, are of little value and can be easily found in circulation. However, there is a rare version of this coin that has reached astronomical figures in the collectors' market.

The 1943 Lincoln Wheat Penny was supposed to be made of steel due to World War II. In that year, the U.S. Mint decided to change the material of pennies from copper to steel in order to save copper, which was a critical metal used in the war effort.

Most 1943 Lincoln Pennies are made of steel and have a grayish color. However, a few copper pennies were accidentally minted, creating a small number of 1943 Copper Pennies.

This error became an extremely rare find, with only about 15 or 20 coins estimated to be in circulation today. As you can imagine, these specimens have reached exorbitant prices.

One of these pennies recently sold at auction for a record figure of $6.6 million, making it one of the most expensive pennies ever sold.

The 1943 Copper Penny is a coin that has captured the imagination of collectors for decades. With its rare combination of metal and year, this coin is a true collector's dream.

The 1943 Copper Penny is a coin that is sure to continue to be in high demand among collectors for years to come. And with its potential value, this coin is a reminder that even the smallest of coins can sometimes hold the greatest of fortunes.

As most Lincoln Wheat Pennies are common and have no significant value, these specimens have reached incredible prices due to their rarity and condition.

One of these pennies, in a MS65 grade from the GCAM (Great Collections American Coins) auction 64 in December 2023, sold for a staggering $6,600,000.

This coin is a 1943 Lincoln Wheat Penny that was mistakenly made in copper instead of steel. The coin sold for more than double the previous record for a U.S. coin, which was set earlier this year by a 1792 silver dollar.

According to Coin News Central, the 1943 Copper Penny is one of the rarest coins in the U.S. It was produced during World War II, when copper was needed for the military.

The U.S. Mint decided to switch from copper to steel for pennies in 1943 to help with the war effort. However, a few copper pennies were made early in the year before the switch was completed.

These coins are highly prized by collectors and have been rumored to exist for years, but they are rarely seen at auction.

According to an interview with Professional Coin Grading Service (PCGS) president Paul L. Wettlaufer, the small number of 1943 copper pennies is due to a miscalculation by the mint.

"They used up the copper before they thought they would," Wettlaufer said.

"They thought they had enough copper to carry them through the whole year. But they had a miscalculation, and they ran out of copper early in the year."

Once the mint switched to steel, they encountered another issue.

"They had trouble making the steel work well for the new pennies," Wettlaufer said.

"The steel pennies came out dull and gray, and they weren't very pretty."

According to Wettlaufer, the mint decided to scrap the steel pennies and start over, which resulted in even fewer 1943 copper pennies being made.

"They made a small batch of steel pennies, but they didn't like them, so they scrapped the whole batch and started over with a new formula," he said.

"They finally got the steel pennies right, but by that time, they had already used up all of the copper."

The 1943 copper penny is a coin that is sure to continue to be in high demand among collectors. And with its potential value, this coin is a reminder that even the smallest of coins can sometimes hold the greatest of fortunes.