Exploration of exotic spin polarizations in single crystals is of increasing interest. A current of longitudinal spins, the so‐called “Dresselhaus‐like” spin current, which is forbidden in materials lacking certain inversion asymmetries, is implied to be generated by a charge current at the interface of single‐crystal CoFe. This work reports unambiguous evidence that there is no indication of spin current of any spin polarizations from the interface or bulk of single‐crystalline CoFe and that the sin2φ second harmonic Hall voltage, which is previously assumed to signify Dresselhaus‐like spin current, is not related to any spin currents but rather a planar Nernst voltage induced by a longitudinal temperature gradient within the sample. Such sin2φ signal is independent of large applied magnetic fields and interfacial spin‐orbit coupling, inversely correlated to the heat capacity of the substrates and overlayers, quadratic in charge current, and appears also in polycrystalline ferromagnets. Strikingly, the planar Nernst effect (PNE) in the CoFe single crystal has a strong fourfold anisotropy and varies with the crystalline orientation. Such strong, anisotropic PNE has widespread impacts on the analyses of a variety of spintronic experiments and opens a new avenue for the development of PNE‐based thermoelectric battery and sensor applications.