Headlines about a “770K Lincoln Wheat Penny” catch attention, but what do they mean for your loose change? This guide explains how to check pennies, what makes some Lincoln Wheat pennies extremely valuable, and practical next steps if you think you found one.
Why some Lincoln Wheat Penny examples reach high values
Lincoln Wheat pennies were struck from 1909 to 1958 and include several key dates, mint marks, and error types that collectors prize. Rarity, condition, and collector demand drive auction prices.
Errors and unusual compositions are especially valuable because they are one-of-a-kind or exist in very small numbers. That is often the reason media reports name eye-catching figures such as $770,000 for exceptional pieces.
Key rare Lincoln Wheat penny types to look for
- 1909-S VDB — Early and scarce, often high value in good condition.
- 1909-S (without VDB) — Another important key date with strong collector demand.
- 1914-D — Low mintage, especially valuable in higher grades.
- 1955 Doubled Die Obverse — Visible doubling on the date and inscriptions; a famous error.
- 1943 Bronze or Mixed-Metal Strikes — Most 1943 cents were steel, so rare bronze examples are sought-after errors.
How to check if the 770K Lincoln Wheat Penny is hiding in your pocket
Follow these practical steps before assuming a coin is valuable. Small differences matter.
Step-by-step inspection
- Look at the date and mint mark — check the obverse (front) for the year and the reverse lower area for D (Denver), S (San Francisco), or no letter (Philadelphia).
- Examine the condition — sharp details, little wear, and strong luster increase value.
- Search for obvious errors — doubling, off-center strikes, wrong metal color, or repunched mint marks.
- Use a magnet and scale — steel 1943 cents are magnetic; bronze examples are not and weigh slightly more.
- Take clear photos under good light and magnify — document any anomalies for experts.
What not to do
- Do not clean the coin — cleaning can destroy value and is a common reason items lose collector interest.
- Avoid DIY alterations — filing or polishing will mark the coin and void collector confidence.
Common fakes and pitfalls with Lincoln Wheat pennies
Because certain wheat pennies can fetch high prices, counterfeits and altered coins exist. Be aware of frequent issues.
- Counterfeit mint marks — sellers sometimes add mint marks to increase value.
- Altered dates — partial re-engraving or filing can change the perceived year.
- Plated or mixed-metal forgeries — a common scam is to plate a steel 1943 with bronze coloring.
- Overstated condition — grading matters; sellers may exaggerate grade without certification.
Getting your penny authenticated and sold
If you suspect you found a high-value coin, authentication is the next step. Grading services reduce risk for buyers and sellers.
Authentication and grading
- Major graders: PCGS, NGC, and ANACS provide grading and encapsulation services that buyers trust.
- Submit clear photos first — many graders provide initial feedback before you mail a coin.
- Expect fees and turnaround times — professional grading can take weeks and includes a cost based on declared value.
Selling options
- Auction houses — best for rare, high-value coins but expect seller commissions and insurance needs.
- Dealers and coin shops — quicker sales but often at a dealer discount from auction prices.
- Online marketplaces — wider audience, but authenticate and use secure shipping and payment methods.
Lincoln Wheat pennies were produced from 1909 to 1958. The reverse design features two wheat stalks and the obverse portrait was designed by Victor D. Brenner.
Small real-world example
Example: A person found a worn 1955 Lincoln Wheat penny in a jar of change and noticed unusual doubling on the date with a magnifying glass. They photographed the coin, had it graded by a reputable service, and learned it was a genuine doubled die obverse in a high grade. After auction, the coin sold for a strong five-figure price, illustrating how a careful inspection and proper grading can reveal hidden value.
Final checklist if you think you found the 770K Lincoln Wheat Penny
- Do not clean or alter the coin.
- Document the coin with clear photos and notes on where and how you found it.
- Check reference guides and reputable online databases for known varieties and images.
- Get professional authentication from PCGS, NGC, or ANACS before attempting a high-value sale.
- Consider insurance and auction representation for top-end pieces.
Finding a potentially valuable Lincoln Wheat penny is exciting, but careful identification and authentication are essential. Follow these steps to protect the coin’s value and increase your chances of a successful sale.
