Wheat pennies, or Lincoln Wheat Cents, are among the most collectible coins in American numismatics. While most of these coins hold only a modest value above their face price, some ultra-rare wheat pennies can command thousands—and even millions—of dollars at auction.
In fact, a select few of these rare wheat pennies are valued at up to $250 million collectively, and they could still be hiding in everyday circulation. Here’s a closer look at the rarest wheat pennies, what makes them so valuable, and how you can spot them.
What Are Rare Wheat Pennies?
Rare wheat pennies were minted in the U.S. from 1909 to 1958. These iconic coins feature President Abraham Lincoln’s portrait on the obverse, making them the first U.S. coins to depict a real person. The reverse side displays two wheat stalks, which is where they get their name.
While most wheat pennies are common and not worth much, there are certain editions with minting errors, low production numbers, or unique historical significance. These rare wheat pennies are highly prized by collectors and can be worth substantial amounts of money.
Top 6 Rare Wheat Pennies and Their Value
1. 1909-S VDB Lincoln Cent
- Estimated Value: Up to $150,000
- Why It’s Rare: Minted in 1909, the first year of Lincoln cent production, only 484,000 of these pennies were produced. The coin features the initials “VDB” on the reverse, which were removed after public backlash. The 1909-S VDB is a highly sought-after coin by collectors.
- Still in Circulation?: Extremely unlikely, but a few may still be hidden in old collections or rolls.
2. 1943 Copper Wheat Penny
- Estimated Value: $1 Million–$2 Million
- Why It’s Rare: Due to a copper shortage during World War II, most pennies were made of zinc-coated steel in 1943. However, a few copper planchets were mistakenly used, resulting in a rare 1943 copper wheat penny. Only around 20 specimens are known to exist, with one selling for $1.7 million at auction.
- Still in Circulation?: Possibly—check among your steel cents, as one might be hiding.
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3. 1914-D Lincoln Penny
- Estimated Value: $30,000–$250,000
- Why It’s Rare: Only 1.2 million of these pennies were minted in Denver, and many of them are worn or damaged, making high-quality examples rare. This coin is a favorite among collectors due to its low survival rate.
- Still in Circulation?: Yes, though lower-grade versions are common and hard to identify.
4. 1922 “No D” Lincoln Penny
- Estimated Value: Up to $90,000
- Why It’s Rare: In 1922, some coins were struck with worn dies at the Denver Mint, causing the “D” mintmark to be missing from some pennies. These “No D” pennies are highly sought after by error collectors.
- Still in Circulation?: Possibly—many are mistaken for worn-out pennies.
5. 1955 Doubled Die Penny
- Estimated Value: Up to $180,000
- Why It’s Rare: This penny is famous for its noticeable doubling of the date and lettering, which can be seen even without magnification. It’s one of the most famous error coins in U.S. history.
- Still in Circulation?: Occasionally found in old coin jars or vintage rolls.
6. 1944 Steel Wheat Penny
- Estimated Value: Up to $250,000
- Why It’s Rare: In 1944, the U.S. Mint returned to using copper for pennies, but a few steel blanks from 1943 were accidentally used. With fewer than 30 known examples, these pennies are among the rarest of all wheat pennies.
- Still in Circulation?: Very unlikely—but it’s worth checking your pennies.
How to Spot a Rare Wheat Penny
Think you’ve found a valuable wheat penny? Here’s how to check:
- Look at the Date & Mintmark: Check coins from 1909, 1914, 1922, 1943, 1944, and 1955. Pay attention to mintmarks such as “S” (San Francisco), “D” (Denver), or none (Philadelphia).
- Check for Doubling: Look for double images, particularly on the date and lettering, which may indicate a minting error.
- Weigh the Coin: Some rare wheat pennies are made from different metals. Weighing the coin can help identify if it’s made from copper, steel, or another metal.
- Use a Coin Loupe: A magnifying glass or jeweler’s loupe can help you spot details like missing mintmarks or tiny initials that indicate rarity.
Where to Get a Rare Wheat Penny Appraised
If you suspect that you have a rare wheat penny on your hands, here’s where you can have it appraised:
- Visit a local coin dealer or numismatic shop.
- Attend a coin show to meet professional appraisers.
- Submit your coin to grading services like PCGS or NGC for official certification.
Why Are These Rare Wheat Pennies So Valuable?
The value of these rare wheat pennies is driven by several factors:
- Extreme Rarity: Few of these pennies were minted or have survived.
- Minting Mistakes: Errors such as doubled die or missing mintmarks make them highly desirable.
- Historic Value: Some coins are linked to significant events or periods in U.S. history.
- High Demand: Rare wheat pennies are sought after by both collectors and investors.
Final Thoughts: Could a Rare Wheat Penny Be Hiding in Your Change?
It’s not just a myth—rare wheat pennies are real, and they could still be circulating in your spare change or tucked away in family collections. If you’ve got an old coin jar, a piggy bank, or a collection from your grandparents, it’s worth checking for a potentially life-changing rare wheat penny.
FAQs
Q: What’s the most valuable wheat penny ever sold?
A: The 1943 copper wheat penny, which has sold for over $1.7 million in private auctions.
Q: How much are all six rare wheat pennies worth combined?
A: Collectively, these rare wheat pennies are valued at up to $250 million, depending on their rarity and demand.
Q: What does a 1909-S VDB penny look like?
A: It features the initials “VDB” at the bottom rim on the reverse, with a small “S” mintmark below the date.
Start your hunt today—your penny jar might hold the next rare wheat penny!
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