Lincoln wheat penny, a historic coin, is in the news again these days. The reason is its shocking price. Which is $1.1 million dollars i.e. about 9 crore rupees. Most people ignore such old coins considering them to be ordinary. But who knows that one penny lying with you can become a treasure worth crores.
Lincoln Wheat Penny: A little history
Lincoln wheat penny was first issued in the year 1909 to celebrate the birth anniversary of former US President Abraham Lincoln. This coin has a picture of Lincoln on one side and two wheat stalks on the other side. This is why it is called Lincoln Wheat Penny.
These coins were made from 1909 to 1958. After 1959, they were replaced by coins with the Lincoln Memorial design, but they still hold great value to collectors.
How come a Penny is worth crores?
In fact, most Wheat Pennies are worth only 1 or 2 rupees. But there are some very special and rare coins, whose value can go up to lakhs and crores. One such coin is the 1943 Copper Wheat Penny.
In the year 1943, due to the Second World War, there was a huge shortage of copper in America, so all the coins of that year started being made of steel. But by mistake some coins were made from old copper planchets (base metal for making coins). And this is where the specialty of this coin started.
One such rare 1943 Copper Wheat Penny was recently auctioned for $1.1 million. It has become one of the most expensive coins in the world.
How is this coin still in circulation?
You will be surprised to know that despite being so expensive, some such 1943 Copper Wheat Penny are still in circulation. The reason? Most people are unable to recognize them. They just think that it is an old coin and spend it without paying attention.
Many experts believe that some such coins are still circulating in the market, which no one has been able to identify yet. These are no less than a treasure for collectors.
Can you also find a rare coin?
Coin collecting is called numismatics. It is a very interesting and profitable hobby. Sometimes a small flaw or feature in an old coin like a 1943 copper coin can turn it into millions.
Collecting coins, also known as numismatics, can be a very interesting and profitable hobby. Like this copper coin of 1943, sometimes a small mistake or feature in an old coin turns it into millions.
If you have a pile of old coins lying around, then take a close look at them once. Who knows, you too may have such a priceless coin!
1943 Copper Lincoln Wheat Penny: Why so priceless?
- This is a coin made by mistake – when coins should have been made from steel instead of copper.
- Very few such coins were made and even today very few of them are left.
- If you identify it and get it evaluated properly, it can change your fortune.
Frequently Asked Questions (FAQs)
Why is the 1943 Copper Wheat Penny so valuable?
This year’s coins were supposed to be made of steel, but some were mistakenly made of copper. This mistake is what makes them so valuable.
Is this coin still in circulation today?
Yes, some such coins are still with people or in circulation because most people are unable to identify them.
What could be its real value?
If it is real and in good condition, its value could go up to $1.1 million.
If I have a 1943 Wheat Penny, how do I identify whether it is copper or steel?
The copper coin is brownish-red in color, while the steel one looks a bit silvery. If in doubt, you can get it tested by an expert.
Is every Wheat Penny valuable?
No, most Wheat Pennies are only worth Rs. 1-2. But some special and rare editions can be very expensive.
