What wheat back penny is worth $1000000?

1943-S Lincoln Wheat cent Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a bronze planchet. All 1943 Lincoln cents were supposed to be made of steel planchets coated with zinc. However, some bronze planchets left over from 1942 slipped into the production process.

thesprucecrafts.com - 1943-S Lincoln Cent Sells for $1 Million - The Spruce Crafts

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In September 2012, Legend Numismatics of Lincroft, New Jersey has announced that collector Bob R. Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a bronze planchet. All 1943 Lincoln cents were supposed to be made of steel planchets coated with zinc. However, some bronze planchets left over from 1942 slipped into the production process. These error coins are extremely rare and highly sought after by error coin collectors. According to a press release, it was successfully acquired by Legend after "determined negotiations" with an East Coast dealer representing the seller who is described only as "a long-time collector," according to Legend President Laura Sperber. "Mr. Simpson said, 'It's a beautiful coin.' As he held it he reminisced about the 1943 'copper' Lincoln cent he found in change when he was a youngster, but that turned out to be a fake," said Sperber. The MS62 coin is the finest of four known 1943-S bronze cents, and it is an upgrade to an example graded PCGS AU58 that was in Simpson's registry set.

What Is an off Metal Error?

When the United States Mint manufactures coins, they are produced with tight tolerances as defined by law. Specifications in the law include diameter, thickness, metal composition, and design requirements. When a new law dictates a change to the coinage, the Mint must adjust its production process to accommodate the requirements of the new law. In this instance, the United States Congress passed a law that specified pennies produced in 1943 will be made out of steel instead of bronze. Additionally, the steel will be plated with a thin coating of zinc to inhibit rust. The thickness and diameter specifications remained unchanged.

How did this Error Coin Happen?

Each production facilities of the United States Mint is a factory that produces coins for the United States of America. Much activity goes on in these facilities that enable them to produce billions of coins every year. While they pay close attention to the process to achieve world-class quality, some mistakes do happen. In this instance, coin experts believe that planchets from the previous year (1942) which were made of bronze were still lingering in the production process. Although it cannot be proven, another explanation for this error coin is that a mint employee purposefully struck a few 1943 pennies on bronze planchets. Although illegal, sometimes these do escape the security procedures of the Mint.

Why Is It So Expensive?

Since Lincoln cents are one of the most collected United States coins, demand for them is extensive. Given the unusual look of a 1943 steel Lincoln cent, a 1943 Lincoln cent made out of bronze is one of the "Holy Grail" of Lincoln error collectors. Compounding the pressure of a highly collectible coin with the fact that there are only five known examples of a 1943-S Lincoln cent made in bronze, the price will skyrocket!

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What are the five most valuable wheat pennies?

Top 10 Most Valuable, Rare Wheat pennies worth money 1931-S Red Lincoln Wheat Cent. ... 1917 Doubled Die Obverse Lincoln Wheat Cent. ... 1909-S Lincoln Wheat Cent. ... 1909-S over horizontal S Lincoln Wheat Cent. ... 1914-D Lincoln Wheat Cent. ... 1922-D no D Lincoln Wheat Cent. ... 1909-S VDB Lincoln Wheat Cent. ... 1955 DDO Lincoln Wheat Cent. More items... •

coincollecting.com - Top 10 Most Valuable Rare Wheat Pennies Worth Money

Top 10 Most Valuable, Rare Wheat pennies worth money 10 Wheat Cents Worth a Pretty Penny Looking for a downloadable value guide for Wheat Cents? We have one here! You’ve probably come across a few of these pennies in your pocket before, the wheat penny, or wheat cent, is one of the most popular coins to collect in the world of coin collecting. While many of these pennies aren’t worth much more than face value, there are a good number of them that are worth looking out for! In good conditions, these little pennies can bring in much more than their face-value. Keep an eye out for particularly good looking specimens, pennies that exhibit little to no wear on them will fetch a much higher price and earn you more money than worn, circulated coins. That being said, this list does feature more coins that are worth money in circulated conditions.

So What Pennies Are Worth Money?

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