The Lincoln Wheat Cent is one of the most iconic and beloved coin series in the United States. Struck from 1909 to 1958, Wheat pennies are highly sought after by both collectors and numismatists for their history, design, and, most importantly, their potential value. While most wheat pennies are valued at only a few cents above their face value, certain years, mint marks, and conditions can lead to far more lucrative returns.
In this comprehensive guide, we’ll break down the current value of each Wheat penny minted between 1909 and 1958. While many of these coins are relatively inexpensive, certain rarities and error coins can fetch significant sums. Understanding which dates and mint marks to look for will help you assess the potential worth of your collection.
Wheat Penny Price Guide
| Category | Typical Value | Notes |
|---|---|---|
| Common Circulated Wheat Pennies (1909–1958) | 5¢ to 50¢ | Most wheat pennies are worth little above face value unless in excellent condition. |
| Uncirculated Wheat Pennies | $5–$50 | Coins in mint state (MS65 or higher) are more valuable to collectors. |
| Key Dates and Varieties | $100–$2,500+ | Rare years like 1909-S VDB, 1914-D, and 1922 No D are highly collectible. |
| Rare Errors and Premium Condition | $5,000+ | Exceptional errors like double die or 1943 copper pennies can fetch millions. |
The History Behind the Wheat Penny
The Lincoln Wheat Cent series, designed by Victor David Brenner, was introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. The reverse side features two stalks of wheat, which give the coin its name. The wheat design was replaced by the Lincoln Memorial reverse in 1959. During its 49-year production run, more than nearly 30 billion Wheat pennies were struck, and these coins are still a common sight in pocket change.
What Factors Influence the Value of Wheat Pennies?
The value of a wheat penny depends on several factors:
- Date and Mintmark: Some years and mint marks are rarer than others.
- Condition: Coins in better condition, especially those that have not been circulated, are worth more.
- Errors and Varieties: Certain minting errors, such as double strikes, missing mint marks, or copper planchets, can make a penny worth far more than its face value.
Common Wheat Penny Values (1909–1958)
For most wheat pennies, the value is relatively low. However, coins in excellent condition or from specific years can fetch a premium. Here’s a breakdown of typical values:
1909 – The First Year of the Series
- 1909 VDB (Philadelphia): The first year of the series, featuring the initials “VDB” for Victor David Brenner. While it is one of the most iconic and collectible pennies, most 1909 VDB pennies are worth about $10–$20 in circulated condition. In uncirculated condition, the value can rise to $40–$150.
- 1909-S VDB (San Francisco): This is one of the rarest and most sought-after wheat pennies, with only around 484,000 coins minted. A 1909-S VDB in good condition can be worth $900–$1,500, with pristine examples fetching over $30,000 in auction.
Key Dates That Are Worth More
Some years stand out due to low mintage or specific historical significance, making them more valuable to collectors.
1914-D
- Value Range: The 1914-D penny is considered one of the key dates in the wheat penny series due to its low mintage of just 1.1 million coins. Coins in good condition can fetch $100–$200, while high-grade examples may be worth $2,500 or more.
1922 No D
- Value Range: The 1922 No D penny is an error coin that was minted without the “D” mintmark, which was intended to be on the coin. This error makes the penny highly collectible, with values ranging from $500 to $3,000 depending on condition. A 1922 No D in mint state can fetch $25,000 or more.
1931-S
- Value Range: While it might seem like a common date, the 1931-S penny is rare due to its low mintage. Coins in good condition typically sell for $50–$100, with examples in uncirculated condition fetching $1,000 or more.
Error Coins and Their Value
Wheat pennies are also known for certain error coins that significantly increase their value. Some of the most famous error coins are:
1943 Copper Wheat Penny
- Value Range: The 1943 penny is known for being minted in steel due to wartime copper shortages, but some copper planchets were mistakenly used to strike a few pennies. These 1943 copper wheat pennies can be worth $100,000 to $1 million depending on the condition and authenticity of the coin.
1955 Double Die Obverse
- Value Range: The 1955 double die penny is one of the most well-known error coins in the wheat penny series. The doubled image on the obverse (the “LIBERTY” and “IN GOD WE TRUST” lettering) makes it highly desirable. Coins in good condition start around $1,000, with pristine coins in MS65 fetching up to $100,000 or more.
Grade Wheat Pennies for Value
The condition of a coin plays a significant role in its valuation. Wheat pennies are typically graded on a scale from Good (G) to Mint State (MS). Key grades include:
- Good (G): Significant wear but still readable.
- Very Fine (VF): Moderate wear, but most details are still visible.
- Extremely Fine (XF): Minor wear with sharp details.
- Uncirculated (MS): No wear, full original detail, and minimal imperfections.
Coins graded as Mint State (MS) and in top-tier conditions will generally bring the highest values. Coins graded MS65 or higher are rare, and their values can be exponentially greater than those in lower grades.
Check the Value of Your Wheat Pennies
If you’re wondering whether your wheat pennies are worth more than face value, here’s how you can determine their potential worth:
- Inspect the Date and Mint Mark: Certain dates and mint marks are far more valuable than others. Familiarize yourself with key dates and rare varieties to determine if you have a potential treasure.
- Examine the Condition: Coins in excellent condition are significantly more valuable than those that are worn or damaged. Professional grading services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can help you determine the coin’s condition and value.
- Check for Errors: Error coins, like double dies or missing mintmarks, can significantly increase a coin’s value. Look closely for any visible errors on the coin’s design, especially near the date, mintmark, or letters.
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Where to Sell or Buy Wheat Pennies
If you believe your wheat pennies are valuable, here are several options for selling or acquiring them:
- Coin Shops and Dealers: Reputable dealers can appraise and purchase your coins. Be sure to get quotes from multiple dealers.
- Online Auction Sites: Platforms like eBay can provide insights into the current market prices for specific wheat pennies. Just make sure to set a fair reserve price and document the coin’s condition accurately.
- Grading Services: Have your coins professionally graded by services like PCGS or NGC. A high grade can greatly increase the value of your coin when selling.
Valuable Coins Among Wheat Pennies
While most wheat pennies minted between 1909 and 1958 are worth only a few cents, there are key exceptions that can bring surprising amounts. 1909-S VDB, 1914-D, 1922 No D, 1943 copper pennies, and 1955 double die coins are highly collectible and worth hundreds, thousands, or even millions of dollars in exceptional condition.
Knowing which coins are most valuable and how to properly assess them is essential for any collector. For anyone with a collection of Wheat pennies, taking the time to assess each coin’s value based on its condition and rarity could prove highly rewarding.
