Have you ever looked closely at your spare change? That old penny at the bottom of your drawer might be worth much more than one cent. Some rare Lincoln Wheat Pennies have sold for as much as $156,000 at auction! While most wheat pennies are worth just a few cents, knowing which ones are valuable could turn your loose change into an amazing discovery.
What is a Wheat Penny?
The Lincoln Wheat Penny was made from 1909 to 1958. It was the first U.S. coin to show a real person on the front. The coin shows Abraham Lincoln’s face on one side and two wheat stalks on the back (which is why they’re called “wheat” pennies). After 1958, the design changed to show the Lincoln Memorial instead of wheat.
During its nearly 50 years of production, billions of these pennies were made. While most were used for everyday purchases, certain years, mint marks, and mistakes in making the coins created rare types that collectors highly value today.
What Makes Some Wheat Pennies Worth So Much?
Not all wheat pennies are valuable. The ones worth thousands of dollars have a special mix of:
- Rarity (very few were made)
- Historical importance
- Excellent condition
- Unique errors or mistakes
Let’s look at the most valuable wheat pennies and why they’re worth so much:
| Year and Type | Why It’s Valuable | Potential Value |
|---|---|---|
| 1909-S VDB | Only 484,000 made with designer Victor David Brenner’s initials (VDB) | Up to $100,000 in perfect condition |
| 1914-D | Low mintage of just 1.2 million | $80,000 to $156,000 in perfect condition |
| 1922 (No D) | Error where Denver mint mark is missing | $10,000 to $50,000 |
| 1943 Copper | Mistake penny made of copper during WWII when pennies were supposed to be steel | $150,000 to $1.7 million |
| 1955 Doubled Die | Shows visible doubling of the date and words | $5,000 to $50,000 |
The Lincoln Wheat Penny Valued at $80 Million, Unexpectedly Still in Circulation
The Lincoln Wheat Penny Valued at $305K, Unexpectedly Still in Circulation
The Lincoln Wheat Penny Valued at $410K, Unexpectedly Still in Circulation
The Lincoln Wheat Penny Valued at $100K, Unexpectedly Still in Circulation
The Lincoln Wheat Penny Valued at $94 Million, The Most Valuable Penny in History
The Rarest Find: The 1943 Copper Penny
During World War II, copper was needed for the war effort. So in 1943, the U.S. Mint made pennies from steel instead. However, a few copper blanks accidentally got mixed in, creating one of the rarest mistakes in American coin history.
Only about 20 of these 1943 copper pennies are known to exist. They look like regular pennies but were made in a year when they should have been steel. A genuine 1943 copper penny is one of the most valuable coins you could ever find in pocket change.
How to Identify a Valuable Wheat Penny
To figure out if your wheat penny might be valuable, follow these steps:
- Check the date and mint mark
- Look at the date on the front of the coin
- Find the mint mark (if any) under the date
- No mark = Philadelphia
- D = Denver
- S = San Francisco
- Look for key dates
- 1909-S VDB
- 1914-D
- 1922 (no D)
- 1943 (copper version)
- 1955 (doubled die)
- Examine for errors
- Doubled lettering or images
- Off-center strikes
- Repunched mint marks
- Test 1943 pennies
- Use a magnet – steel will stick, copper won’t
- Weigh the coin – copper weighs about 3.11 grams, steel about 2.7 grams
- Check condition
- Better condition means higher value
- Professional grading uses a scale from 1 to 70 (70 is perfect)
- Uncirculated coins (MS-65 or higher) are worth the most
Common Wheat Penny Values
Most wheat pennies you find aren’t the super-rare types. Here’s what common wheat pennies are typically worth:
| Year Range | Average Value in Good Condition |
|---|---|
| 1909-1933 | $0.10 to $1.00 |
| 1934-1949 | $0.05 to $0.25 |
| 1950-1958 | $0.03 to $0.10 |
Even common wheat pennies are worth more than their face value. Many coin collectors try to get the full set of dates and mint marks, which increases demand for all wheat pennies.
Where You Might Find Valuable Wheat Pennies
Valuable wheat pennies sometimes turn up in surprising places:
- Old coin jars or piggy banks
- Inherited collections
- Rolls of pennies from banks
- Estate sales and garage sales
- Grandparents’ collections
The most amazing finds often come from collections that have been stored away for decades, keeping the coins in good condition.
What to Do If You Find a Rare Wheat Penny
If you think you’ve found a valuable wheat penny, follow these important steps:
- Don’t clean the coin! Cleaning can seriously reduce a coin’s value. Even light cleaning can damage the surface that collectors value.
- Handle with care
- Hold coins by their edges
- Use cotton gloves if possible
- Store in a protective holder
- Examine carefully Use a magnifying glass to check for key dates, mint marks, and potential errors.
- Consider professional grading Services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can:
- Verify the coin is genuine
- Rate its condition
- Protect it in a sealed holder
While grading services charge a fee, the investment can be worth it for potentially valuable coins. Authenticated coins typically sell for higher prices.
Why People Love Collecting Wheat Pennies
Wheat pennies remain popular with collectors for many reasons:
- They’re part of American history
- Almost anyone can afford to collect the common dates
- The thrill of possibly finding a rare and valuable coin
- They’re easy to find compared to other collectible coins
- Many people remember them from their childhood
Conclusion
While finding a $156,000 penny is extremely rare, the possibility keeps collectors checking their change and old coin collections with excitement. Even the common wheat pennies have historical value and are worth more than one cent.
Next time you see an old penny with wheat stalks on the back, take a closer look. You never know—it might be one of those rare treasures still in circulation. Happy hunting!