Lincoln Wheat Pennies, also known as wheat cents, are highly sought after by coin collectors. Minted from 1909 to 1958, these one-cent coins hold both historical significance and, in some cases, considerable monetary value. Understanding What Wheat Pennies Are Worth Money involves knowing their history, key dates, and the factors that influence their value.
Iconic wheat stalks design on the reverse of a Lincoln Wheat Penny, highlighting its collectible value.
The Lincoln Wheat Cent emerged in 1909 to commemorate the centennial of Abraham Lincoln’s birth. Designed by sculptor Victor D. Brenner, this coin marked a significant shift as it was the first widely circulated US coin to feature a president. From its inception until 1942, and again from 1944 to 1958, the wheat penny was composed of 95% copper. A notable exception is the 1943 wheat penny, struck in zinc-coated steel due to copper shortages during World War II. Intriguingly, a few 1944 pennies were mistakenly struck on steel planchets, making them exceptionally rare and valuable.
The design of the wheat penny is distinctive. The obverse features a right-facing portrait of Abraham Lincoln. The reverse showcases two stylized stalks of wheat, framing the denomination “ONE CENT” and the country name “UNITED STATES OF AMERICA.” The motto “E PLURIBUS UNUM” arcs across the top. Initially, Brenner’s initials “VDB” appeared on the reverse of the 1909 coins. However, due to controversy, they were quickly removed but reinstated in 1918, this time subtly placed on the obverse near Lincoln’s shoulder.
Spotting Valuable Wheat Pennies: Key Dates and Errors
Certain wheat pennies are worth significantly more than others. Key dates and mint errors are primary factors driving up their value. Among the most notable is the 1909-S VDB wheat penny. The “S” indicates it was minted in San Francisco, and the “VDB” are Brenner’s initials. The combination of a low mintage from the San Francisco Mint and the short-lived “VDB” initials makes this coin a highly prized key date for collectors. The 1909-S without the VDB is also valuable, though to a lesser extent.
Another key date is the 1914-D wheat penny, minted in Denver. Its relatively low mintage contributes to its desirability and higher value. Similarly, the 1922 Plain wheat penny, specifically the “No D” variety with a strong reverse, is a significant error coin resulting from a mishap at the Denver Mint. The 1931-S is another key date, with a lower mintage compared to other years.
The 1958 wheat penny holds a special place as the final year of the wheat cent series. While common in general, the 1958 Double Die Obverse (DDO) variety is exceptionally valuable. This error exhibits a doubling of the design elements on the obverse side and can fetch substantial prices at auction.
The Most Valuable Wheat Pennies: A Top 10 List
For those wondering what wheat pennies are worth money in high-end collecting, here are ten of the most valuable wheat pennies, particularly in uncirculated Mint State 60 (MS60) condition or better:
- 1943-D Bronze: Up to $2,000,000+
- 1944-S Steel: $700,000 – $1,000,000
- 1943-S Bronze: $500,000+
- 1943 Bronze: $300,000+
- 1958-P DDO: $100,000 – $200,000
- 1944-D Steel: $60,000+
- 1944-P Steel: $50,000+
- 1922-D No D Strong Reverse: $12,000 – $30,000
- 1955-P DDO: $4,000 – $16,000
- 1917 Doubled Die: $3,000 – $6,000
Wheat Penny Key Dates to Watch For
Keep an eye out for these Lincoln Wheat Penny key dates when examining your coins:
- 1909 S
- 1909 S VDB
- 1914 D
- 1922 Plain (No D Strong Reverse)
- 1931 S
In conclusion, while most wheat pennies in circulation are worth only a few cents, understanding the key dates, mint marks, and potential errors can reveal if you possess a truly valuable coin. For serious collectors and anyone curious about coin values, exploring the world of wheat pennies can be both fascinating and potentially rewarding.
