Most of us don’t give a second thought to the pennies jingling in our pockets or sitting in old jars around the house. But what if we told you that one of those simple coins—specifically a Lincoln Wheat Penny—could be worth nearly a million dollars? Yes, you read that right. Certain rare versions of this humble American coin have sold for up to $960,000, turning everyday spare change into high-value collectibles that coin collectors dream of finding.
This article explores the rich history of the Lincoln Wheat Penny, the reasons why some versions are so valuable, and how you can identify whether you might be holding one of these rare treasures.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny is an iconic American coin that was first minted in 1909 and continued until 1958. It features a bust of President Abraham Lincoln on the front (obverse) side and two wheat ears on the back (reverse), which is where it gets its name. This was the first time in U.S. history that a real person—rather than a symbolic figure like Lady Liberty—was featured on a coin.
Victor David Brenner, a well-known sculptor and engraver, designed the coin. His initials, “VDB,” appear on some early versions of the coin, particularly on the 1909-S VDB edition, which is now considered one of the most valuable coins in the Lincoln Wheat Penny series.
Why Some Lincoln Wheat Pennies Are Extremely Valuable
Although millions of Lincoln Wheat Pennies were minted between 1909 and 1958, a handful of them are now considered incredibly rare due to limited mintage, minting errors, and historical significance. These factors all contribute to the extraordinary value that some of these coins have today. Coins with low production numbers or striking anomalies can fetch thousands—or even hundreds of thousands—of dollars at auction.
What makes these pennies even more exciting is that some of them are still in circulation or tucked away in forgotten drawers, coin jars, and old collections. If you come across one of these, you might just be holding a fortune in your hands.
Key Rare Lincoln Wheat Pennies to Look Out For
Here are some of the most valuable and sought-after Lincoln Wheat Pennies that have made headlines in the numismatic community:
1909-S VDB
This coin is famous for bearing the initials of its designer, Victor David Brenner, on the reverse side. Only about 484,000 of these were minted in San Francisco before the U.S. Mint decided to remove the initials due to public criticism. Today, this penny can be worth anywhere from $700 to well over $10,000 depending on its condition.
1914-D
Minted in Denver, this version of the Lincoln Wheat Penny had a relatively low production run. Few high-grade specimens remain, which makes them very valuable. Well-preserved coins from this year can be worth several thousand dollars.
1922 No D
Due to a striking error, some 1922 Lincoln Wheat Pennies were released without the “D” mint mark (which stands for Denver). This minting error makes the coin extremely rare and highly collectible. Depending on the grade, its value can range from $500 to over $50,000.
1955 Double Die
One of the most famous error coins in U.S. history, the 1955 Double Die Lincoln Wheat Penny has a striking doubling of the words on the obverse side. This misprint makes it easily recognizable and very desirable. High-quality versions have been sold for over $100,000.
1943 Copper Penny
During World War II, the U.S. Mint produced pennies in steel instead of copper to save materials for the war effort. However, a small number of copper planchets accidentally made their way into production. The result? One of the rarest Lincoln Wheat Pennies ever made. These coins have sold for over $500,000—and in one case, up to $960,000.
Can You Still Find a Rare Lincoln Wheat Penny in Circulation?
Absolutely. While the chances are slim, rare coins like these do show up from time to time. Some people have discovered valuable Lincoln Wheat Pennies in bank coin rolls, estate sales, old family collections, or even loose change from a store. Because most people don’t examine pennies closely, many rare ones slip through unnoticed.
That means you could be just one coin jar or thrift shop find away from striking gold—well, copper, in this case. It’s always worth taking a moment to check your change.
How to Identify a Valuable Lincoln Wheat Penny
If you think you’ve found a rare Lincoln Wheat Penny, you’ll want to inspect it carefully. Here are a few tips on how to identify whether your coin might be worth a small fortune:
1. Examine the Date and Mint Mark
Look at the year on the front of the coin. Next, check underneath it for a small letter. This is the mint mark, which tells you where the coin was produced:
- No mark: Philadelphia
- “D”: Denver
- “S”: San Francisco
Certain combinations of years and mint marks are much rarer than others. For instance, the 1909-S VDB is one of the most valuable.
2. Check for Errors
Some of the most valuable Lincoln Wheat Pennies are the result of minting mistakes. Look for signs of doubling in the lettering, missing letters or numbers, or strange textures. The 1955 Double Die is a classic example of how an error can create a highly valuable coin.
3. Evaluate the Condition
The better the condition, the higher the value. A coin that’s been well preserved with minimal scratches or wear is far more valuable than one that’s heavily circulated. Numismatists use a grading scale to assess condition, with terms like “Good,” “Fine,” “Very Fine,” and “Mint State.”
4. Compare to Known Rare Versions
Use guides and images to compare your coin to known rare examples. Look at every detail, from the design to the placement of letters and numbers. If it seems to match a valuable version, you could be in luck.
What Should You Do If You Find a Rare Lincoln Wheat Penny?
If you believe you’ve found a rare and valuable Lincoln Wheat Penny, don’t rush to sell it right away. Instead, take the following steps:
Get It Professionally Graded
Send the coin to a reputable grading service such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC). They’ll authenticate the coin, assess its condition, and assign it a grade, which can dramatically impact its value.
Consult with Multiple Dealers
Don’t settle for the first offer. Talk to several coin dealers to get a range of valuations. The coin-collecting world is competitive, and some dealers may offer more than others based on their clientele.
Consider an Auction
Rare Lincoln Wheat Pennies often perform very well at public auctions. Major auction houses like Heritage Auctions or Stack’s Bowers attract collectors who are willing to pay top dollar for unique finds.
Final Thoughts: Your Pocket Change Could Hold a Treasure
In a world dominated by credit cards, digital wallets, and online payments, it’s easy to overlook the humble penny. But the Lincoln Wheat Penny proves that even the smallest coin can hold tremendous value. With certain rare versions selling for hundreds of thousands—and even up to $960,000—it’s worth taking a closer look at the pennies you come across.
So next time you empty your pockets, dig through your piggy bank, or sort through old change, keep your eyes open. That unassuming Lincoln Wheat Penny just might be the key to your next big payday.
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