She Thought It Was Canadian Coin — Turns Out It’s a $75,000 Wheat Penny
It started as a regular day. A woman was going through a jar of old coins that had been sitting in her closet for years. While sorting them out, she came across a small, dark-colored penny. It looked a little odd. At first glance, she assumed it was just a Canadian coin—maybe something picked up on a trip or mixed in by accident. She almost tossed it aside.
But something made her take a second look.
After doing some simple research and taking it to a coin expert, she discovered the truth: it wasn’t a Canadian coin at all. It was a rare Wheat Penny, and not just any one—it was a version worth $75,000.
That one little coin, once mistaken for something worthless, turned out to be a small fortune.
What Is a Wheat Penny?
The coin that surprised this lucky woman is officially known as the Lincoln Wheat Penny. It was first issued in 1909 and was produced by the U.S. Mint until 1958. On the front of the coin is a portrait of Abraham Lincoln, and on the back are two wheat stalks curving along the sides—hence the nickname “Wheat Penny.”
These coins were made mostly from 95% copper, though during World War II in 1943, some were made of steel due to a copper shortage.
Millions of Wheat Pennies were minted, and most of them are only worth a few cents. However, a few rare versions—because of minting mistakes, limited production, or unusual materials—can be worth thousands or even tens of thousands of dollars.
The one found in this story was one of those rare types.
How Did She Realize the Coin Was Valuable?
At first, the woman noticed the coin felt different from others. It had a darker tone and an unusual shine. Thinking it was just an old or foreign coin, she kept it aside.
Later, out of curiosity, she compared it to regular pennies and noticed that the back had two wheat stalks, something she hadn’t seen before. She looked up “Wheat Penny” online and found out these coins were collectible.
She contacted a local coin shop to get an expert opinion. After inspection, the dealer told her she had a rare 1944 Steel Wheat Penny, a coin made in error when the U.S. Mint used leftover steel planchets instead of the regular bronze. Only a few of these are known to exist.
The estimated value? Around $75,000.
Why Is the 1944 Steel Wheat Penny So Rare?
In 1943, due to the war, the U.S. government used steel to make pennies. The following year, they switched back to bronze. But in a few rare cases, leftover steel blanks from 1943 were accidentally used in 1944. These coins weren’t supposed to exist, which makes them extremely rare.
Only a handful of 1944 steel pennies have ever been found. Because of their mistake in minting and limited numbers, they are considered treasures in the coin-collecting world.
The value depends on condition, authenticity, and demand. A 1944 steel penny in poor condition might be worth a few thousand dollars. One in near-perfect condition, like the one this woman found, can be worth $75,000 or more.
How to Check If You Have a Rare Penny
You don’t need to be an expert to check your coins. Here’s a quick way to examine your spare change:
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Look at the Year
Focus on coins dated around 1943 and 1944—these are the most likely to include rare errors. -
Use a Magnet
A regular penny won’t stick to a magnet, but a steel penny will. This is a simple and free way to test. -
Inspect the Color
Steel pennies look silver or gray. If your 1944 penny looks silver instead of the usual copper-brown, it might be special. -
Check the Back Design
If the back shows two wheat stalks instead of the Lincoln Memorial, it’s a Wheat Penny. -
Visit a Coin Shop or Show
If you’re not sure what you’ve found, take it to someone who can confirm it.
What to Do If You Think You Have a Rare Penny
Finding a potentially valuable coin is exciting, but you should handle it carefully:
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Don’t Clean the Coin
Many people make the mistake of cleaning coins to make them “look better.” This actually reduces the value. Keep the coin in its original condition. -
Handle with Gloves or by the Edges
Fingerprints and oils from your skin can damage the coin’s surface. -
Keep It Safe
Store it in a soft cloth or a plastic coin holder until it’s examined. -
Get a Professional Appraisal
Contact a certified coin dealer or send the coin to a grading service like PCGS or NGC for a complete evaluation.
Final Thoughts
What started as a routine look through a jar of coins turned into a life-changing moment. A coin that looked like nothing more than a foreign penny turned out to be worth $75,000—all because the owner took a moment to take a second look.
You don’t need to be a collector or a historian to stumble upon something valuable. Sometimes, the biggest surprises are hiding in plain sight. So before you toss your old coins into the donation box or the coin-counting machine, take a closer look. You never know what kind of treasure you might be holding.
Frequently Asked Questions (FAQs)
1. What makes the 1944 steel penny so rare?
The U.S. Mint accidentally used leftover steel blanks from 1943 instead of switching fully to bronze in 1944. Only a few of these coins were made, making them extremely rare.
2. Can regular people find valuable coins in everyday change?
Yes! Rare coins are sometimes found in jars, drawers, or pocket change, especially by people who take time to look.
3. How can I tell if my penny is steel?
Try using a magnet. If the penny sticks to it and it’s from 1944, you might have a rare steel version.
4. Where can I get a coin appraised?
You can visit a local coin dealer or send it to a professional grading service such as PCGS or NGC.
5. Should I clean my coins to increase their value?
No. Cleaning coins can decrease their value. Always leave them in their original condition.