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Here’s What Makes a 1943 Penny Worth $840,000 (And How To Identify It)

Collecting rare coins could have a major payoff.

By Heather Bien , Edited by Sara Albertelli

Updated April 7, 2026

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If you have a big jar of coins sitting around your house, you could be sitting on a gold mine. While a penny is often just a penny, and a nickel is just a nickel, some of these coins could be worth major money if you happen to have a rare coin hiding in your collection.

Pursuing a collection of sought-after items is often seen as a passion project rather than an effective way to grow your money more, but there are cases where your treasure hunt for rare coins could pay off. And, in the case of one 1943 Lincoln Wheat Penny, that payoff was $840,000 at a 2021 auction.

Here's what you need to know about this $840,000 penny, and how to keep an eye out for rare (and valuable) coins when you're working on your collection.

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What are Lincoln Wheat pennies?

The penny in question was specifically a 1943 Lincoln Wheat Penny. These pennies were first produced in 1909, and the U.S. Mint continued to produce them through 1958. Depending on the year and condition of a Lincoln Wheat penny, they could fetch anywhere from a few cents to a few dollars.

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Why is the 1943 Penny so valuable?

The 1943 Lincoln Wheat is an error coin. It never should have been made. During World War II, pennies were made from zinc-coated steel rather than copper. A few coins slipped through, however, and were made using bronze planchets. Because so few were made, these pennies are extraordinarily valuable.

What is an error coin?

An error coin is a coin that is made through an error at the mint. As the name would imply, they're nothing more than a mistake. But, because mistakes happen so infrequently, these coins actually become worth more than the coins that were made correctly.

Often, they're the result of an incorrectly placed planchet, which is the metal that is stamped into a coin, or an error in the striking of the coin.

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How many of the 1943 pennies exist?

While there's no way to know for sure how many of the 1943 Lincoln Wheat pennies were ever made, experts generally agree that the number is likely less than 20. These could be sitting at the bottom of a coin jar that's been in someone's house for decades.

How to determine if you have a 1943 Lincoln Wheat penny

A rare 1943 penny actually looks more like a normal penny than its common 1943 counterparts. That's because pennies in 1943 were a grayish color due to their production in zinc-coated steel. The rare pennies have a classic brown or copper penny look.

You could also test your penny with a magnet (a valuable 1943 penny isn't magnetic) or check whether the 3 has a long tail (it should).

Weight is also another important factor. An authentic 1943 bronze penny typically has a mass of around 3.11 grams, whereas the more common steel version comes in closer to 2.7 grams. To tell the difference, use an accurate scale to check the coin's weight.

If your penny fits the bill, then it's worth having it verified by an expert. You could stand to make $839,999.

How should you start collecting coins?

When you start collecting coins, it's wise to familiarize yourself with the errors that often drive a coin's value up. Everything from the misprinting of an image to spacing issues in the numbers could cause a coin to be rarer and more valuable. These coins could be easy to miss, since their distinguishing features are subtle and not immediately obvious.

Invest in a magnifier that gives you at least six times magnification so you are able to carefully study each coin.

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Where could you find valuable coins?

The most valuable coins are often found at auction. Spending time perusing the offerings could also help you learn which coins are most valuable and which stand to increase in value.

Other valuable coins to keep on your radar

Currently, some of the most valuable coins include the 1969-S Lincoln Cent With a Doubled Die Obverse, which has the heads side doubled and could fetch $40,000, depending on the type and condition.

Another is the 1970-S Small Date Lincoln Cent With a Doubled Die Obverse, which shows doubling in "LIB" and "IN GOD WE TRUST" (think of it as an echo of the words). The estimated value is roughly $3,500 in EF-40 condition.

An additional coin that is highly valuable is the 2004-D Wisconsin State Quarter With an Extra Leaf, which could be worth $200 to $300 for MS-60 coins.

Bottom line

Some coins could be both fascinating collectibles and valuable assets, but their true worth isn't always obvious at a glance. That's why having them professionally evaluated is key. You might be holding something far more valuable than you realize.

And as you explore ways to make cash on the side from home, coins are just one avenue among many, alongside options like investing and other side opportunities.

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