I was ransacking through some old coins today and found some what I thought were "old" (for my age) coins.
I actually got a wind of someone making millions ($1.7 million to be exact) by selling an old 1943 Lincoln head wheat copper penny.
Texas Rangers co-chairman Bob R. Simpson bought the coin from Legend Numismatics, a rare coin dealer in Lincroft, N.J.
In general, most wheat pennies are worth only a few cents (perhaps 10 cents) if worn and of a highly common date and mint mark combination. Others are quite valuable. In fact, some of the scarcest wheat cents are downright expensive— and hence you will find me testing my 20/20 vision to find my lucky penny.
Lincoln Wheat pennies are pennies minted between 1906-1956. But there's one year that stands out above all the rest..
1943
1943 is when the US entered World War 3 and were short on copper for military purposes. So they manufactured and minted coins in steel plated with zinc instead of the traditional copper. By error, some bronze planchets made it into the hoppers at all three Mints (S-San Francisco, D-Denver, and P-Philadelphia) and were struck and released into circulation. These have become the most famous and valuable of all off-metal errors.
Here's what the 1943 steel wheat penny looks like
Unfortunately I have not found a copper 1943 penny in our collection.
And Yes that's a lot wheat pennies!
And no I have not lost hope!
How to make sure you have the real deal
Many 1943 steel pennies were plated with copper and sold a novelties at flea markets and such. Pennies like that are not the real deal.
If you do have a 1943 copper coin take a magnet and hold it above the penny. If it sticks to the magnet, its steel and worth not hardly anything. If it doesn't, well, you just might be rich.
In order to get your money's worth out of this rarity it has to be in "mint" (pun intended) condition. It should also be graded if your going to sell it.
Other Wheat Pennies of Value
1909-S V.D.B. ($750-$2100+)
The 1909 S (San Francisco) V.D.B. (initials of the designer, Victor David Brenner) wheat penny easily commands $750 even in the lowest of collector grades. Those VDB initials are found centered below the wheat stalks.
1909-S ($105-$425+)
Collector demand is quite high for the 1909 San Francisco wheat penny, which can bring in at least $100.
1914-D ($240-$3,600+)
With a little more than a million ever struck, the 1914-D usually commands over $200 in the lowest grades.
1922 no mint mark ($725-$27,500+)
In 1922 wheat pennies never received a “D” under the date on their cents thanks to a problem with the die. It can fetch over $400 in the lowest grades. Beware, however, of regular 1922-D cents which have had their “D” mintmarks worn off by unscrupulous types.
1931-S ($110-$225+)
In 1931, the San Francisco mint struck only 866,000 Lincoln pennies, creating what many collectors would later regard a very important pricey “key” Lincoln cent. These pennies currently sell for at least $100 in the lowest collector grades.
1955 Doubled-Die ($950-$3,500+)
At the Philadelphia mint in 1955 only a tiny fraction of these pennies received the significant doubling of the obverse design which warranted the attention and popularity the coin has since received. The 1955 doubled die obverse starts selling at around $1,000 in the lowest grades.
pictures of double die 1955 penny
Happy Hunting and always keep a PENNY FOR YOUR THOUGHTS!!
