The Lincoln Wheat Penny is one of the most iconic and sought-after coins in American history. Minted between 1909 and 1958, these small copper coins serve as a connection to the past and, for some, a potential financial windfall.
While millions of Wheat Pennies were produced, a select few are incredibly rare and valuable. Some of these coins have sold for over a million dollars each, and five of the rarest Lincoln Wheat Pennies collectively hold an estimated value of nearly $12 million.
The Allure of Lincoln Wheat Pennies
The Lincoln Wheat Penny was designed by Victor David Brenner to commemorate the 100th birthday of Abraham Lincoln. The obverse features Lincoln’s profile, while the reverse displays two wheat stalks, giving rise to the name “Wheat Penny.”
Although these pennies were widely circulated, rare errors and low-mintage years have made some of them extremely valuable. The five pennies listed below are some of the most coveted coins in numismatic history.
1943 Copper Wheat Penny
Estimated Value: $1,000,000 – $1,750,000
During World War II, the U.S. Mint switched from copper to zinc-coated steel for penny production to conserve copper for the war effort. However, a few leftover copper planchets from 1942 were mistakenly used in 1943, resulting in an extremely rare error coin.
There are only about 40 known 1943 copper pennies, making them one of the most valuable Lincoln Wheat Pennies in existence.
Key Identification Tips:
- The 1943 copper penny is not magnetic, unlike regular steel cents.
- It should have a reddish-brown copper color, not a silver-gray tone.
- Be wary of counterfeits—some altered 1948 pennies are disguised as 1943 pennies.
In 2010, a 1943-D copper penny sold for $1.7 million, proving the immense worth of this mistake.
1944 Steel Wheat Penny
Estimated Value: $75,000 – $125,000
While the 1943 copper penny was an error caused by old copper planchets, the 1944 steel penny was created when a few leftover steel planchets from the previous year were accidentally used in production.
These coins are even rarer than the 1943 copper cents, with only about 30 known examples.
Key Identification Tips:
- The 1944 steel penny is magnetic, unlike regular 1944 copper cents.
- It has a silvery-gray color, similar to 1943 steel cents.
- It is lighter in weight than copper cents (2.7g vs 3.11g).
In 2021, a 1944-S steel penny sold for $408,000, making it one of the most valuable Lincoln Wheat Pennies ever.
1955 Double Die Obverse Wheat Penny
Estimated Value: $50,000 – $100,000
The 1955 Double Die Obverse Wheat Penny is one of the most famous error coins in U.S. history. A mistake during the die-making process caused the date and inscriptions to appear doubled, creating a striking visual effect.
Unlike some rare pennies, this one was not recalled and instead entered circulation, making it a highly sought-after collector’s item.
Key Identification Tips:
- The date, “LIBERTY,” and “IN GOD WE TRUST” appear doubled.
- Genuine examples will only have doubling on the front side of the coin.
- Many fakes exist, so professional authentication is recommended.
In 2018, a 1955 Double Die Obverse penny graded MS65 Red sold for $114,000 at auction.
1909-S VDB Wheat Penny
Estimated Value: $50,000 – $100,000
The 1909-S VDB Wheat Penny was part of the first year of production for the Lincoln cent. The designer, Victor David Brenner, placed his initials VDB on the reverse of the coin.
However, controversy arose over the prominence of his initials, leading the U.S. Mint to remove them after only a short production run. As a result, this coin became one of the most valuable Lincoln Wheat Pennies ever produced.
Key Identification Tips:
- The “VDB” initials can be found at the bottom of the reverse side.
- The coin must have an “S” mint mark below the date, indicating it was struck in San Francisco.
- Many counterfeits exist, so authentication is crucial.
In 2014, a 1909-S VDB penny graded MS67 Red sold for $117,500 at auction.
1914-D Wheat Penny
Estimated Value: $50,000 – $100,000
The 1914-D Wheat Penny is considered one of the most important key date coins in the Lincoln cent series. With a low mintage of just over 1.1 million, this penny is difficult to find, especially in good condition.
Many of these pennies were heavily circulated, making high-grade specimens extremely rare and valuable.
Key Identification Tips:
- Look for the “D” mint mark below the date, indicating Denver production.
- Be cautious of altered 1914 Philadelphia pennies, which sometimes have a fake “D” mint mark added.
- Authentic versions often show wear on Lincoln’s cheek and the wheat stalks due to circulation.
In 2018, a 1914-D penny graded MS66+ Red sold for $158,625, proving the high demand for this coin.
Could You Be Holding One of These Valuable Coins?
These five Lincoln Wheat Pennies collectively approach or even exceed $12 million in value, depending on their condition and market demand.
Imagine searching through old coins and observing a 1943 copper penny—that single find could be worth over a million dollars. Even finding a 1955 Double Die or 1914-D penny could result in a windfall of tens of thousands of dollars.
This is not just speculation; people do find these coins. In 2019, a man in New England observed a 1943 copper penny in his change, and after authentication, it sold for over $200,000.
If you have old coins, it may be worth checking them carefully, as you never know when you might be holding a fortune.
FAQs
How much is a 1943 copper Wheat Penny worth?
A genuine 1943 copper penny can be worth between $100,000 and $1.75 million, depending on its condition.
How can I tell if I have a rare Lincoln Wheat Penny?
Check the date, mint mark, color, weight, and whether the coin is magnetic. Counterfeit versions exist, so professional verification is recommended.
Why are some Wheat Pennies so valuable?
Error coins, low mintage years, and historical significance make certain Wheat Pennies highly valuable.
Where can I sell a rare Wheat Penny?
Coin dealers, auctions, and online marketplaces like eBay or Heritage Auctions are common places to sell rare coins.
What is the rarest Lincoln Wheat Penny?
The 1943 copper Wheat Penny is considered one of the rarest and most valuable Lincoln pennies.
