The Lincoln Wheat Penny is reportedly one the most special and favorite coin in the whole United State. It was produced about one century ago and to date people who collects coins and enthusiasts of world history love this piece. Even though millions of wheat pennies were struck, some coins may be special to the collector because, nowadays, only a few of them remain, and the price for buying them is extremely high. Of them, Lincoln Wheat Penny was estimated to be worth $30 million, putting the coin in the category of the priciest coins globally.
It present work will acquaint you with the history, characteristics, as well as the factors behind the high price of this rare coin. Further, it will also tell how one can get this type of coin.
History of Lincoln Wheat Penny
The Lincoln Wheat Penny was minted in 1909 and it was struck to commemorate the one hundredth anniversary of the President Abraham Lincoln’s birth anniversary. It was one of the first American states’ coins which depicted a living human figure (Lincoln’s figure). This coin was designed by one Victor David Brenner.
There is Lincoln’s portrait on the front facet of the coin ‘One Cent’ on the back facet of the coin there are two wheat stalks. This design is about advancements and power. The coin was in circulation up to 1958 and whenever collectors come across them they are normally attracted by the design and the history behind it.
Why is the $30 million penny special?
It is possible to purchase a common Lincoln Wheat Penny for a few cents or even a few dollars, but this coin turned into a real treasure since it has not only a great rarity, but also significant historical value. This is actually considered to be a 1943 bronze penny and this type of penny is among the rare currencies in the world and highly demanded for its mistake.
Key Features of the $30 Million Penny
- Minting error: During the World War II in 194 3 the US Mint began using steel in the production of coins so as to conserve copper. However, by some bad luck, a few coins were minted on old bronze planchets, which is discs made from copper mixture.
- Very rare: Only a handful of such coins exist, making it one of the rarest coins in the world.
- Historical significance: This coin tells the story of the period when the country was saving its resources for the war.
- Excellent condition: The condition of this coin is very good, which further increases its value.
Can this coin still be in circulation today?
This may sound strange, but such a priceless coin can still be in circulation today. Many times people do not understand the importance of old coins and use them as ordinary change. Apart from this, such coins sometimes come back into circulation through estate auctions or inherited coins.
If you are a coin enthusiast, then this can be an exciting opportunity for you.
How to identify a $30 million coin?
Identifying this rare coin requires attention and a bit of luck. Here are some tips:
1. Check the year and material:
- Look carefully for coins minted in 1943.
- Rare bronze coins are not magnetic, while steel coins are.
2. Check the mint mark:
- Look for a “P” (Philadelphia), “D” (Denver), or “S” (San Francisco) mark on the coin. Rare varieties can be found from all three mints.
3. Check the coin’s condition:
- Coins in good condition are more valuable.
- Surfaces should be smooth and details should be clean.
4. Get it professionally inspected:
- If you think you’ve found a rare coin, have a professional grading service verify its authenticity and value.
Other Rare Lincoln Wheat Pennies
In addition to the $30 million coin, several other Lincoln Wheat Pennies are extremely valuable due to their rarity and characteristics:
- 1909-S VDB: The first-year coin, with only 484,000 coins made.
- 1955 Doubled Die Penny: The writing on this penny appears double, which is very attractive to collectors.
- 1922 No D Penny: A Denver Mint coin that is mistakenly missing a “D”.
- 1944 Steel Penny: A rare error coin, just like the 1943 Bronze Penny.
Where to Find Rare Coins?
If you want to look for rare Lincoln Wheat Pennies, try these methods:
- Check your change: Look carefully for coins found in everyday transactions.
- Check coin jars: Check family coins or inherited collections.
- Borrow coins from banks: Find rare coins by taking rolls of coins.
- Join a collectors group: Learn from experienced collectors and share your finds.
Why is the Lincoln Wheat Penny so popular?
The Lincoln Wheat Penny is so popular among collectors because:
- Timeless design: Its classic look is reminiscent of old times.
- Historical significance: This coin is deeply rooted in American history.
- Collectibility: Rare dates, mint marks, and error coins make it exciting to collect.
Conclusion
It is incredible that there exists a forty Lin coins worth $30 million Lincoln Wheat Penny to support the whole theme of the wonderful world of coin collection. It has no monetary significant, but it comes with historical importance, and everyone would like to posses an original item.
Beginning collector or advanced, this sort of hope in every piece makes the hobby all the more enjoyable. So start looking at your old coins and who knows, you may have a fortune in your pocket.
Disclaimer: The information contained herein is factual and is intended only to provide general information. It is always recommended that people seek the professionals in order to effectively assess and appraise the rare coins.
