A Lincoln Wheat Penny reported to be valued at 9.9 million has attracted attention because coins like this can still appear in everyday change. This article explains how to identify such a penny, what steps to take if you find one, and how to get its true market value.
What is a Lincoln Wheat Penny?
The Lincoln Wheat Penny was minted from 1909 to 1958 and shows wheat stalks on the reverse. It is one of the most collected U.S. coins because of its long run and many varieties.
Not every Wheat Penny is valuable. Most are common and worth face value or a small premium for collectors. A few specific dates, mint marks, and errors are rare and can be worth thousands to millions.
Why Some Lincoln Wheat Pennies Are Extremely Valuable
Value comes from rarity, condition, and collector demand. Major factors include low mintage, unique errors, and surviving population in high grade.
- Mint errors (misstrikes, wrong-metal composition)
- Low-mintage issues or rare mint marks
- Exceptional grading (near-perfect condition)
Common Valuable Wheat Penny Types
Collectors watch for certain dates and errors. Examples include rare 1909 issues, 1914-D, 1955 doubled die obverse, and the unusual 1943 copper examples that were struck on bronze planchets.
How to Identify a Penny That Might Be Worth 9.9 Million
Major visual signs include metal type, unusual markings, and error features. Follow a methodical inspection to minimize risk and protect potential value.
Step-by-step identification
- Do not clean the coin. Cleaning can destroy surfaces and dramatically reduce value.
- Use a magnifier or jeweler’s loupe (10x) to inspect the date, mint mark, and any doubling or die breaks.
- Weigh the coin on a precise scale. Bronze cents (pre-1944) weigh about 3.11 grams; steel 1943 cents weigh about 2.7 grams. A mismatch can indicate a wrong planchet error.
- Compare the coin to high-resolution images from trusted sources (PCGS, NGC, Heritage).
- Look for authentication marks like re-punched mint marks or die states that match known rare varieties.
What To Do If You Think You Found the Lincoln Wheat Penny Valued at 9.9 Million
Act carefully and follow clear steps to preserve and verify its potential value. Avoid impulsive selling or cleaning.
Immediate steps
- Handle by the edges or wear cotton gloves to prevent oils from fingers damaging the surface.
- Place the coin in an inert holder (2×2 cardboard flip or Mylar holder). Do not tape it in place.
- Document where and when you found it. Photos from multiple angles are useful for later appraisal.
Authentication and grading
Send the coin to a reputable third-party grading service (PCGS, NGC, or ANACS). Grading provides an independent condition assessment and encapsulation, which is essential for high-value sales.
Expect authentication to take time and sometimes a fee. High-value coins often go through express services and additional verification steps.
How to Sell or Insure a Rare Lincoln Wheat Penny
Once authenticated and graded, work with established auction houses or specialist dealers. Auction houses provide visibility and often the highest realized prices for extreme rarities.
Selling options
- Major auction houses (Heritage, Stack’s Bowers) — best for high visibility.
- Specialist dealers who handle rare cents — faster transactions but may offer lower fees.
- Private sale to a collector — can be confidential and efficient but carry negotiation risk.
Costs, Taxes, and Storage
Expect grading fees, insurance, and auction commissions. Consult a tax professional about capital gains rules; proceeds from a high-value coin sale may be taxable.
Store the coin in a secure, climate-controlled environment or a bank safe deposit box while awaiting sale or appraisal.
The Lincoln Wheat Penny was the first U.S. coin to feature a real person on the obverse that wasn’t an allegorical figure. That design helped make the series highly collectible.
Case Study: Finding a Rare Penny in Everyday Change
A small collector found a heavily toned Lincoln Wheat Penny in a jar of mixed change. The date was faint but visible, and the weight did not match a steel 1943 cent.
The finder photographed the coin, sealed it in a flip without cleaning, and submitted photos to an online numismatic forum. Experienced members advised submitting the coin to NGC for authentication.
After grading, the coin was confirmed as an unusual composition error and was sold at auction to a specialized collector. The seller followed these steps: secure handling, third-party grading, and an auction listing with provenance documentation.
Practical Tips and Final Advice
- Always assume a rare coin requires professional verification before any sale.
- Do not clean or polish a coin; cleaning almost always reduces value.
- Use reputable graders and established auction houses for maximum protection and price discovery.
- Keep good records of provenance, photos, and communication with experts.
Even if a coin is reported in media as “valued at 9.9 million,” the true market price depends on authentication, grade, and competitive bidding. Treat any potential find with care and rely on expert services for final valuation.
