The Lincoln Wheat Penny, minted from 1909 to 1958, is one of the most famous coins in American history. While most of these pennies are common, some rare variations have sold for millions at auctions. If you have old pennies lying around, you might want to check them carefully—you could be holding a small fortune!
Understanding the history, key dates, and unique features of these pennies can help you determine if you have a valuable one in your collection.
History and Design of the Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced in 1909 to celebrate the 100th anniversary of President Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person.
Key Design Features:
- Obverse (Front): A right-facing portrait of Abraham Lincoln, designed by Victor David Brenner.
- Reverse (Back): Two wheat stalks surrounding the words “One Cent” and “United States of America.”
- Transition: In 1959, the design changed to feature the Lincoln Memorial instead of the wheat stalks.
This classic design remains a favorite among collectors, and some rare editions have skyrocketed in value over the years.
Rare and Valuable Lincoln Wheat Pennies
Certain Lincoln Wheat Pennies are worth far more than their face value due to their rarity and special minting errors. Here are some of the most valuable ones:
1. 1909-S VDB Penny
- Only 484,000 minted.
- Features Brenner’s initials (“VDB”) on the reverse.
- Value: $700 – $2,000+ depending on condition.
2. 1914-D Penny
- One of the lowest-mintage wheat pennies with only 1.1 million produced.
- Highly valuable, especially in uncirculated condition.
- Value: $200 – $5,000+ depending on condition.
3. 1943 Bronze Penny
- Mistakenly struck in bronze (copper) instead of steel during World War II.
- Value: Up to $1.7 million at auctions.
4. 1955 Doubled Die Penny
- A famous error coin with noticeable doubling on the date and lettering.
- Value: $1,000 – $100,000+ depending on grade.
How to Identify a Rare Lincoln Wheat Penny
If you have old pennies, here’s how you can check if they are valuable:
1. Check the Date and Mint Mark
- Look for rare years like 1909-S, 1914-D, and 1943.
- Mint marks (S for San Francisco, D for Denver, or none for Philadelphia) are located under the date on the obverse side.
2. Look for Errors
- Doubled die: Check if the numbers or letters appear blurry or doubled.
- Off-center strikes: If the design is not centered, it may be a minting error.
- Wrong material: If a 1943 penny is copper instead of steel, it’s extremely rare.
3. Assess the Coin’s Condition
- Coins with no wear or scratches are more valuable.
- Coins graded Mint State (MS) fetch higher prices.
Record-Breaking Auction Sales
Some Lincoln Wheat Pennies have sold for huge sums at auctions:
- 1943-D Bronze Penny – Sold for $1.7 million.
- 1955 Doubled Die Penny – High-grade versions have reached $100,000+ at auctions.
Factors That Affect a Coin’s Value
Several things can influence how much a Lincoln Wheat Penny is worth:
- Rarity: Coins with lower mintage numbers or rare errors are more valuable.
- Condition: Well-preserved coins (graded MS-65 or higher) sell for much more.
- Historical Significance: Coins related to major events or changes in U.S. history often command higher prices.
Value Chart for Key Lincoln Wheat Pennies
| Year | Mint Mark | Mintage | Notable Feature | Approximate Value Range |
|---|---|---|---|---|
| 1909 | S | 484,000 | VDB Initials | $700 – $2,000+ |
| 1914 | D | 1,193,000 | Low Mintage | $200 – $5,000+ |
| 1943 | None/S/D | Varies | Bronze Error | Up to $1.7 million |
| 1955 | None | 24,000 (est.) | Doubled Die Obverse | $1,000 – $100,000+ |
Final Thoughts
The Lincoln Wheat Penny is a fascinating piece of American history, and some rare versions can be worth a fortune. By checking the date, mint mark, and any errors on your pennies, you might discover a hidden treasure in your collection.
If you think you have a rare penny, consider having it professionally graded. Whether you’re a collector or just curious, understanding these valuable coins can make all the difference in recognizing their worth.