This 1943 Lincoln penny could be worth over $1 million — check your wallet for this rare find

No such thing as a $1 million coin was ever minted in the U.S. but it turns out that a rare penny could fetch more than that amount now. Back in 2010, a Lincoln bronze cent minted in 1943, one of the rarest error coins in American history, was auctioned for a whopping $1.7 million. While it is estimated that only 15 to 20 such coins exist, nobody knows how many of them are still unaccounted for. This means that some of them may still be in circulation or might be sitting in an old coin collection, as per KGLO News.

What Makes Them Precious?

The 1943 Lincoln bronze cent is the result of a historical error, and that makes it special. For a brief period during World War II, the U.S. Mint decided to stop producing copper coins as the metal was required to support the war efforts. Thus, the mint switched to zinc-coated steel for making pennies in 1943. However, a small number of bronze cents were accidentally minted, creating one of the rarest sets of Lincoln cents.

As per Diario AS, only 20 bronze Lincoln cents have been discovered, making them a coveted item for collectors. The most expensive penny was the $1.7 million coin sold by Legend Numismatics, a coin dealership in Lincroft, New Jersey.

Unlocking Value of Rare Coins Globally

Details of another such rare discovery were shared by TikToker @CoinCollectingWizard in a viral video featuring the 1933 pre-decimal penny that fetched a whopping $182,000 at an auction.

According to Baldwin's, in 1933 the Royal Mint of the U.K. decided to temporarily stop the production of pennies due to a surplus. However, a few coins were still minted as it was customary to place complete sets of dated coins beneath the foundations of buildings constructed in that year. Thus, the mint released 1933 pennies solely to be placed beneath three buildings. Apart from that, a handful of coins were also kept for the Royal Mint and British Museums.

It is believed that there were no more than seven coins and the design of the 1933 penny was the same as the design of the regular penny. The flip side of the coin depicts the goddess Britannia seated facing right, holding a trident and a shield.

In the absence of a precise record of the number of coins, it seemed nearly impossible for a coin to end up in a private collection. However, according to the Royal Mint Museum, thieves stole the set of coins deposited beneath the foundation stone of the Church of St Cross in Middleton, near Leeds in 1970.

Since then, coin enthusiasts have spent a lifetime sifting through collections, attempting to find the rare item. The auctioneer described the 1933 pre-decimal penny from the U.K. as an iconic coin that people should keep an eye out for while checking their "grandad's old coin collection."

Talking about the potential value of the coin in the future, the auctioneer said that such coins are rarely put up for sale, and in case another one is auctioned off, it will fetch a higher price. He further clarified that he didn't possess the actual coin, and only has the replica.

Several people in the comments were astonished after learning about the rare coin, while many jokingly claimed that they had the coin in their collection.

For more such interesting content, follow @CoinCollectingWizard on TikTok.