Have you ever looked closely at the pennies in your pocket or coin jar? That small copper coin might be worth much more than one cent! Lincoln Wheat Pennies, made between 1909 and 1958, are among America’s most collected coins. While most are worth only a few cents, some rare ones can be worth thousands or even hundreds of thousands of dollars.
What Makes Lincoln Wheat Pennies Special?
The Lincoln Wheat Penny was a groundbreaking coin when it first appeared in 1909. It was created to celebrate the 100th birthday of President Abraham Lincoln and was the first regular American coin to feature a real person instead of the symbolic Lady Liberty.
The coin gets its name from the two wheat stalks that appear on the back (reverse) side, framing the words “ONE CENT” and “UNITED STATES OF AMERICA.” These wheat stalks represented America’s farming heritage and remained on the penny until 1958, when they were replaced with the Lincoln Memorial design.
The Most Valuable Lincoln Wheat Pennies
Not all Wheat Pennies are created equal. Some are extremely rare and valuable because of errors, low production numbers, or special circumstances. Here are the most valuable ones that could be hiding in your change:
| Coin | Why It’s Valuable | Approximate Value |
|---|---|---|
| 1909-S VDB | Only 484,000 made with designer’s initials (VDB) | $1,000 – $100,000+ |
| 1943 Copper | Accidentally made of copper during WWII when pennies should have been steel | $100,000+ |
| 1955 Doubled Die | Minting error created doubled features on the coin | $1,000 – $100,000+ |
| 1914-D | Low mintage of only 1.2 million | $300 – $50,000+ |
| 1922 Plain (No D) | Missing mint mark due to worn die | $500 – $20,000+ |
| 1931-S | Low mintage of only 866,000 | $100 – $15,000+ |
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The Stories Behind the Rarest Pennies
The 1909-S VDB: A Controversial Beginning
When the Lincoln Penny was first made in 1909, the designer Victor David Brenner put his initials (VDB) on the back of the coin. People complained that this was too self-promoting, so the Mint quickly removed the initials. Before they were removed, the San Francisco Mint (indicated by the “S” mint mark) made only 484,000 pennies with the VDB initials. This small number makes the 1909-S VDB one of the most sought-after regular Lincoln cents.
The 1943 Copper Penny: A Wartime Mistake
During World War II, copper was needed for war materials like bullets and wire. To save copper, the U.S. Mint made 1943 pennies out of zinc-coated steel instead. However, a few copper blanks from 1942 accidentally got mixed in with the steel ones. This mistake created about 20-40 copper pennies in 1943 that were never supposed to exist. These rare error coins are now worth over $100,000 each!
The 1955 Doubled Die: Beauty in a Mistake
In 1955, about 20,000 pennies were made with a serious minting error. The die (the stamp that creates the design on the coin) was misaligned, creating coins where the date and lettering appear doubled. This mistake is visible to the naked eye, making it one of the most famous error coins in American history. A well-preserved 1955 Doubled Die penny can be worth over $100,000.
How to Identify Valuable Wheat Pennies
Looking for valuable Wheat Pennies is like a treasure hunt! Here’s what to check:
- Look for the wheat stalks design: First, check the back of your penny. If it shows two wheat stalks, it’s a Wheat Penny made between 1909-1958.
- Check the date and mint mark: The date is on the front (obverse) side under Lincoln’s bust. The mint mark, if present, is a small letter:
- No mint mark = Philadelphia
- D = Denver
- S = San Francisco
- Examine the condition: Better condition means higher value. Professional graders use this scale:
| Grade | Description | What It Looks Like |
|---|---|---|
| Poor (P-1) | Heavily worn, barely readable | Very smooth, details hard to see |
| Good (G-4) | Worn but main features visible | Smooth, major details visible |
| Very Good (VG-8) | More detail visible | Some fine details visible |
| Fine (F-12) | Most lettering clear | More details visible |
| Very Fine (VF-20) | Sharp details with some wear | Most details clear |
| Extremely Fine (EF-40) | Sharp details with minimal wear | Almost all details visible |
| Almost Uncirculated (AU-50) | Minimal wear, some luster | Slight wear on high points only |
| Mint State (MS-60 to MS-70) | No wear, varies by quality | Full original luster, no wear |
Common Wheat Pennies vs. Valuable Ones
Most Wheat Pennies you’ll find are common dates worth only a few cents each. The most common ones are from the 1940s and 1950s. Don’t be disappointed if you find these – they’re still pieces of history!
| Common Wheat Pennies | Typical Value | Rare Wheat Pennies | Typical Value |
|---|---|---|---|
| 1944-1958 (most dates) | 3-10 cents | 1909-S VDB | $1,000+ |
| 1934-1943 (most dates) | 5-25 cents | 1943 Copper | $100,000+ |
| 1920-1933 (most dates) | 10-50 cents | 1955 Doubled Die | $1,000+ |
| 1910-1919 (most dates) | 25 cents-$1 | 1914-D | $300+ |
Where to Look for Valuable Wheat Pennies
Valuable Wheat Pennies can still be found in:
- Coin jars and piggy banks
- Old collections inherited from family members
- Rolls of pennies from the bank
- Estate sales and garage sales
- Antique stores and flea markets
Preserving Your Finds
If you find a potentially valuable Wheat Penny, here’s how to take care of it:
- Handle with care: Only touch the edges, never the faces of the coin.
- Don’t clean it: Cleaning damages the coin’s surface and reduces its value.
- Store properly: Use coin holders, folders, or albums made for coins.
- Get it authenticated: For potentially valuable coins, consider professional grading.
The Joy of Collecting
Even if you don’t find a $100,000 penny, collecting Wheat Pennies can be fun and rewarding. Each coin is a little piece of American history that has passed through countless hands over many decades. Starting a collection doesn’t require a large investment – just a keen eye and some patience!
Whether you’re hoping to find a rare treasure or simply enjoy the history, checking your change for Wheat Pennies is a hobby that anyone can enjoy. Who knows? The next penny you find might be worth far more than one cent!