8 Rare Wheat Pennie : …which is why it’s surprising that one of the most provocative coins in the coin collecting hobby is also one of the most unassuming; the Lincoln Wheat Penny.
These copper pennies were made from 1909 to 1958.,And now that 95 years has passed, the 1909 VDB penny now starting to become rare.,
Not as common as the 1914 penny or 1928 penny, but still a great find as more and more of these coins are taken out of circulation and tossed into a back room somewhere.
Even though you won’t find many circulating wheaties in circulation that are worth more than a few cents, there are dozens of wheat cents that are extremely rare that fetch surprising amounts of money – some in the 7 figures.
8 Rare Wheat Pennie The Allure of Wheat Pennies
The Lincoln Wheat Cent a very unique coin in American numismatic history. Created by the Victor D. Brenner to celebrate the centennial of President Abraham Lincoln’s birth, these coins were the initial ones to showcase a real person as opposed to Lady Liberty.
The minimalist yet understated symbolic representation of prosperity of wheat stalks turned a once-a-day coin into the dream of collectors.
Today, some seven decades after the final wheat penny was struck, collectors remain drawn to these coins for their history, ease of acquisition, and potential value.
Today we will tackle eight of the most valuable wheat pennies that could be lying around in your collection.
THE3 B 194RONZE Wheat Penny: The Million-Dollar Mistake
Key Date 1943 Steel Wheatie There was mass confusion at the US mints in the change-over, and with so many being struck, a number of mistakes occurred, including the use of leftover brass planchets instead of the new steel ones.
(By the way, as I’m sure you know, during World War II, copper was being used to make ammunition, so the U.S. Mint substituted steel pennies in 1943, and 1943 is the only year for steel pennies.)
Yet a few of the copper planc hets for 1942 were left behind in the presses and were struck with the 1943-dated dies.”
These Scarce Error Pennies are the Holy Grails of wheat penny collecting. Known specimens Very few have survived, with only perhaps around 20 known to exist, all of which are in VF condition or better, the piece… you know we love to take a gratuitous swipe at them.
That specimen, graded MS62BN, brought $372,000 in 2021, and other Woolworths have come close to the million dollar mark in much nicer condition.
According to some experts, a typically fresh example would be worth as much as $1,750,000 in today’s market.
Quick tip for authentication: Running a magnet over the face of your 1943 penny will pick it up — if so, your coin is steel and not rare bronze.
If it doesn’t stick, you may have a genuine copper piece that you want to have professionally authenticated.
The 1944 Steel Wheat Penny – Wartime Confusion Continues
As rare as the 1943 bronze penny goes, the 1944 Steel Penny is rarer still. This mistake occurred because some steel planchets remained in the press hopper where the 1944 cents were being struck.
Only 25-30 known to exist, one of the most rare pennies the United States ever struck. Values are from $75,000 to $125,000 for authenticated specimens, depending on condition.
Similar to the 1943 bronze cent the 1944 steel cent is often counterfeited, in which case an expert should be consulted.
1909S VDB Wheat Penny: The First Year Rarity
1909-S VDB The 1909-S VDB is the most well known of all the wheat pennies.
Struck in the series’ inaugural year, this coin also bears designer Victor D. Brenner’s initials “VDB” on the reverse, which was promptly removed due to public outcry over the size of the designer’s monogram.
Numismatic demand for these pennies was immediate upon their release and a large part of their production was hoarded. And red ones in mint condition have sold for as much as $168,000 at auction.
Even well-worn examples in low grades are worth $10,000 to $19,200 making this a very desirable coin regardless of its condition.
The 1955 Doubled Die Obverse: The United State’s Most Well-Known Mint Error
When it comes to minting errors, few are as dramatic as the 1955 Doubled Die Wheat Penny!
The re-punching on this wheat cent is SO drastic that it is clearly visible without the aid of magnification; about 24, 000 of these tiny treasures were put into circulation.
This mistake was made when the dies were produced, and produced a remarkable doubling of the date, legends, and Lincoln’s portrait. An MS65+RD example brought a jaw dropping $114,000 in 2018.
Even lower grade specimens sell well, bringing $1,000-$5,000, making this one of the most valuable modern coin errors.
8 Rare Wheat Pennie The 1914-D Wheat Penny: Cent of the Series
The 1914-D Lincoln Wheat Penny is also a key date in the series, and the most expensive non-error penny. It has a lower mintage of 1,193,000.
Uncirculated pieces are especially rare, as they were widely used and circulated. Another Uncirculated 2018 example, graded MS66+RD brought a breathtaking $158,625.
If you think you found one, be careful — it’s a date that gets counterfeited a lot, and authentication is paramount.
1922 “No D” Wheat Penny – The Missing D Mint Mark
All 1922 D No D Lincoln Wheat cent collectors are “struck” against this coin because it is the single sole circulation issue in the whole series that is denied its desired mint mark.
The Denver Mint was the sole producer of pennies at the time, and all coins should have borne a “D” mintmark.
These were struck whenthe mintmark on the die was clogged due to grease or other matter and coins with the D were made underweight.
These highly-desirable error coins can fetch thousands of dollars when they are in top condition, and some can bring in premium values from hardcore collectors.
The Muddled Mintmark on the 1909-S Over Laid Bare: The Repunched Mintmark
While not as overt as some wheat penny varieties, the 1909-S Over Horizontal S (also known as an RPM) is a more subtle variety that is valuable.
This is an error caused from the first “S” mint being punched into the die incorrectly and then corrected with an upright “S.”
Before 1990, all the mint marks were hand-punched into the dies and this was possible to happen.
An outstanding coin was the $32,900 paid in July 2022 for an MS67RD – a tribute to the premium collectors pay for a higher-end example of something as historically interesting as an error coin is a lovely thing.
The 1915-S Wheat Penny The Surprise Climber
It is not as well known as some other coins on this list, but the 1915-S has appreciated significantly in recent years.
The 1915-S wheat cent has become increasingly popular by 2023 with it selling for over $10,000. It is now one of the most challenging coins to locate in mint state throughout the entire Lincoln series.
Uncirculated examples, of which fully Red coins are much rarer and more valuable, are almost impossible to locate on the open market; an example graded MS66 brought $48,300 when auctioned in 2005.
This is an example of how collector focus may pivot to an issue long neglected and offer new opportunities for investors with keen palettes.
How to Identify Rare Wheat Pennies
If you are hoping to find one of these rare treasures in your own collection, here are few things to keep in mind:
Key dates to look for Check the date and mintmark — especially the key dates noted above
Check the condition — Coins that have not been in circulation, so-called “mint condition” coins, command the highest value
Check for errors – Doubled Die, Repunched mintmark, and wrong planchet error can be worth a small fortune.
Try magnification - A Coin loupe or digital microscope can really help you in finding the minor varieties.
Think authentication – On potential good finds, you NEED to have them professionally graded
8 Rare Wheat Pennie Conclusion
While the thought of finding a $100,000 penny in your pocket change isn’t a motive or a dream, the reality is that you might find these values in old collections, in that old cigar box full of coins, or at estate sales!
The search for these copper finds is still among the easiest and briskest faces of coin collecting as well as possibly being one of the most rewarding.
Whether you’re a long-time numismatist, or you’re just starting to get into the exciting world of coin collecting, the wheat pennies make for a great starting point, with history, art, and the promise of mystery and discovery all wrapped into one. Always keep in mind that condition plays a critical role in value, and unless you can verify the authenticity of a possible gem, you are likely to have nothing more than a gem of a story when all is said and done.
So don’t just toss that jar full of pennies away as if they’re nothing more than pocket change… that loose change could be a numismatic goldmine!