Wheat pennies, also known as wheat cents, were minted by the United States Mint from 1909 to 1958. They feature two ears of wheat on the reverse side and the profile of President Abraham Lincoln on the obverse side. While most wheat pennies are worth only a few cents, some rare dates and mint marks can be worth thousands of dollars to collectors.
Most Valuable Wheat Pennies
Here are some of the most valuable wheat pennies:
1909-S VDB Lincoln Cent
The 1909-S VDB (with the designer’s initials V.D.B. on the reverse) is considered the “Holy Grail” of Lincoln cents. It was minted in San Francisco with a small mintage of just 484,000 coins. In gem uncirculated condition, this coin can fetch over $1,000.
1914-D Lincoln Cent
Only 1,193,000 1914-D cents were struck in Denver. This low mintage makes the 1914-D one of the key dates of the wheat penny series. Collectors will pay over $700 for an example in MS-63 condition.
1931-S Lincoln Cent
This depression-era San Francisco issue had a minuscule mintage of 866,000 pieces. Today, the 1931-S cent commands over $350 in MS-65 condition.
1955 Doubled Die Obverse
The most famous error coin in U.S. numismatics is the 1955 doubled die Lincoln wheat cent. Strong doubling is visible on Lincoln’s portrait and the date. While over 40,000 were struck, only around 15,000 survive today. Mint state examples can sell for $1,500 and up.
Determining Value
When determining the value of wheat pennies, collectors and dealers consider the following:
- Date and mintmark – Scarcer dates and mintmarks command higher premiums.
- Condition – Wheat cents in pristine, uncirculated condition bring stronger money than worn examples.
- Strike – Coins with a sharp, well-defined strike have more eye appeal.
- Luster – Cents with original mint luster are preferred.
Grading services like PCGS and NGC provide quality assessments of coins on a numeric scale. Higher grades translate to higher market values. For example, an average circulated 1909-S VDB cent may grade Good-4 and trade for $350. Meanwhile, an uncirculated example graded MS-65 could sell for $2,200.
Mint Marks
Wheat pennies were struck at three different U.S. mints – Philadelphia (no mintmark), Denver (D mintmark), and San Francisco (S mintmark). Here is a quick rundown of each facility:
Philadelphia
As the main U.S. coin factory, Philadelphia struck the majority of wheat cents from 1909 to 1958. Most have no mintmark, but a small number dated 1942-1945 do feature a P mintmark below the date. Highlights include the 1909-S VDB, 1914-D, 1931-S, 1955 Doubled Die Obverse.
Denver
The Denver mint opened in 1906 to help meet coin demand in the western U.S. All wheat cents struck here feature a small D mintmark. Notable issues are the 1914-D, 1921-S, 1931-D, 1955 Doubled Die Obverse.
San Francisco
The San Francisco mint opened in 1854. Wheat pennies struck there are designated with an S mintmark. The 1909-S, 1909-S over horizontal S, 1931-S, and 1955 Doubled Die Obverse cent are important S-mint editions.
Grading Wheat Pennies
The condition of a wheat penny greatly impacts its collector value. Here is a rundown of the grading scale used for Lincoln cents:
Grade | Description |
---|---|
MS-60 to MS-70 | Uncirculated coins with no wear |
AU-50 to AU-58 | Slight friction, but extremely lustrous |
VF-20 to EF-45 | Light to moderate wear visible on high points |
F-12 to VF-30 | Well-worn with letters and designs partially gone |
G-4 to VG-10 | Heavily worn with portions of letters/design missing |
AG-3 and below | Extremely worn with date and legends barely visible |
Uncirculated examples with no wear command substantial premiums over worn specimens. However, even well-circulated scarce dates remain collectible.
Value Factors
When pricingwheat pennies, the following factors come into play:
Date and Mintmark Combination
The mintage figures and current supply play a key role. Lower mintage coins are worth more. Highlights include 1909-S VDB, 1914-D, 1931-S, 1955 Doubled Die Obverse.
Errors and Varieties
Error coins and variety coins have extra value. Notable varieties are the 1909-S over horizontal S, 1955 Doubled Die Obverse cent.
Surface Preservation
Wheat cents with clean, mark-free surfaces are preferred by collectors and bring higher prices.
Strike Quality
Well-struck coins with bold, crisp details are worth more than weakly struck examples.
Eye Appeal
Natural toning in attractive colors enhances a coin’s beauty and value.
Most Valuable Wheat Pennies List
Here is a summary of the most expensive wheat cents, along with approximate values:
Coin | Value |
---|---|
1909-S VDB Lincoln Cent – MS-65 | $1,000 |
1909-S VDB Lincoln Cent – VF | $350 |
1914-D Lincoln Cent – MS-63 | $700 |
1931-S Lincoln Cent – MS-65 | $350 |
1955 Doubled Die Obverse – MS-65RD | $1,500 |
1955 Doubled Die Obverse – AU | $150 |
Finding Valuable Wheat Pennies
Here are some tips for locating scarce wheat pennies:
- Check coin dealers for certified graded coins
- Search online auction sites like eBay
- Join online coin forums and connect with sellers
- Go through pocket change – you never know what you’ll find!
- Check old coin jars, boxes, and accumulations
- Buy wheat penny coin rolls and search for standouts
- Attend coin shows and exhibitions
With patience and sharp eyes, collectors can still cherrypick valuable wheat cents from circulation. Searching coin rolls and accumulations can result in a profitable find.
Selling Wheat Pennies
For the best return, consider having your coins certified and graded by NGC or PCGS before selling. Graded coins command significantly higher premiums. Here are some of the top options for selling wheat pennies:
- Through a reputable coin dealer
- At a coin show or convention
- Using online auction sites like eBay
- On graded coin trading sites
- To an interested collector directly
Always research the fair market value of your coins before selling. Compare prices across multiple sources to ensure you maximize your profit.
Wheat Penny Collections
Some ways to collect wheat pennies include:
- Dansco album – Popular pre-printed albums to house each date and mintmark.
- Building a complete set – Filling all holes in a Dansco book or custom album.
- Top condition sets – Seeking the best possible grade for each issue.
- Circulation finds sets – Filling a folder with coins found in pocket change.
- Errors and varieties set – Focusing on the many known wheat cents variants.
Wheat penny collecting remains extremely popular thanks to the abundance of issues, accessible prices, and the historical significance of these coins.
History of Wheat Pennies
Wheat cents replaced the Indian Head Cent and were minted from 1909 to 1958. Here are some key facts about this iconic series:
- Designed by Victor D. Brenner with input from President Theodore Roosevelt
- Feature a left-facing portrait of Abraham Lincoln on the obverse
- Reverse depicts two heads of wheat enclosing the words “One Cent”
- First U.S. circulating coins to bear the motto “In God We Trust”
- Initially sparked controversy due to the designer’s initials (“V.D.B.”) appearing on the reverse
- Nearly 14 billion wheat cents were struck over the series’ 50 year run
These coins served as America’s one cent piece through two world wars and the Great Depression. They remain popular collectibles today.
FAQs About Rare Wheat Pennies
How much are wheat pennies worth?
Most common date wheat cents are worth 3 to 5 cents if worn and up to $1 in mint state. However, certain key dates like the 1909-S VDB and 1931-S cent can be valued at several hundred to thousands of dollars in nice condition.
What is the most valuable wheat penny?
The 1909-S VDB is widely considered the most famous and valuable circulating wheat cent. It can be worth over $1,000 in uncirculated condition due to very low mintage at the San Francisco mint.
How can you tell if a wheat penny is rare?
Check the date and mintmark of each coin closely. The 1909-S VDB, 1914-D, 1922 No D, 1931-S, and 1955 Doubled Die are some of the rarest wheat cents to look for.
How much is a 1955 doubled die wheat penny worth?
The 1955 Doubled Die Obverse Lincoln cent is a famous rarity. In worn condition it can sell for $150+ and MS-65 examples bring over $1,500 at auction.
What is the most valuable penny?
The most valuable Lincoln cent is the 1943 bronze cent struck by accident in copper. Only a few are known. One example graded PCGS MS-66 sold in 2010 for $1,7250,000!
Conclusion
While most wheat pennies are common, several issues stand out for their rarity and high values. The 1909-S VDB, 1931-S, 1955 Doubled Die Obverse, and 1914-D cents are among the priciest dates. Grade, surface quality, eye appeal, and strike all impact the value as well. With over a billion produced, wheat cents remain popular collectibles offering both fun and profit for hobbyists.