Are you interested in enhancing your coin collection with wheat pennies?
Are you looking to optimize your time and efforts by focusing on collecting the most valuable wheat penny?
You’ve come to the right place! This article will guide you through identifying wheat pennies that hold significant value. Whether you’re a novice or a seasoned collector, understanding the key features to look for in a specific coin can maximize your returns.
Wheat pennies, also known as Lincoln pennies, pay tribute to President Abraham Lincoln. Collecting these coins offers both sentimental and financial benefits. Therefore, adding a high-value Wheat Penny to your collection is always a wise choice.
Let’s dive in and explore the most valuable wheat penny together.
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Most Valuable Wheat Penny Worth Money
12. 1925-S Lincoln Cent.
The 1925-S wheat penny holds special value within the Lincoln cent series. Back in those days, the Mint, after producing wheat pennies in huge quantities for years, started to slow down production across all three mints.
Around 26 million Lincoln cents were minted at the San Francisco facility in 1925. While this might seem like a large number, it was actually quite low compared to other years where more than 200 million coins were produced.
The shift in mintage during this year is what makes the 1925-S Lincoln cents highly sought-after. You can easily find this coin in circulated condition, but it becomes more challenging to come across examples in better grades. Coins graded MS67 are especially unique and rarely show up for auction.
An exceptional red gem with a grade of MS65 was auctioned for an impressive $54,625 during a Heritage Auctions session in 2005.
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11. 1909-S Over Horizontal S Wheat Penny
The 1909-S over horizontal S Lincoln cent, also known as a repunched mint mark, is a highly coveted item among collectors.
This unique error coin came into existence when Mint workers mistakenly placed the first S mint mark in the wrong position and then corrected it by punching it again in the right spot.
These types of errors were more likely to occur because, before 1990, mint marks were manually punched into the die presses. The manual nature of these processes left room for various mistakes.
In a 2022 auction, the most expensive 1909-S over horizontal S wheat penny, graded MS67, fetched an impressive $32,900.
10. 1915-S Lincoln Cent
Until recently, collectors didn’t really give much thought to the 1915-S Lincoln cent. You could find examples at very affordable prices, with unassuming collectors selling or buying them for as little as $200.
However, fast forward to 2023, and 1915-S wheat cents are now fetching prices of $10,000 and even more. Today, this coin stands out as the most challenging to acquire in mint state within the entire Lincoln series. Additionally, examples with full red surfaces are quite rare, and stumbling upon one is considered a stroke of luck.
For instance, a 1915-S Lincoln coin graded MS66 was sold for a noteworthy $48,300 back in 2005.
9. 1922-No D Strong Reverse
The 1922 wheat penny stands out for its uniqueness—it’s the first and only coin in the Lincoln cent series to be without a mint mark.
So, how did this anomaly occur?
In 1922, the Denver Mint was the sole facility producing Lincoln cents. Consequently, all cents from that year were expected to bear the D mint mark. However, due to immense pressure on the Mint to produce as many 1922-dated coins as possible, this didn’t happen.
It is believed that the absence of the mint mark occurred during a clash between dies without a coin in between. There’s a possibility that a mint employee, in an attempt to enhance the die and the coin’s condition, inadvertently sanded it down, resulting in the removal of the D mint mark. This explains the creation of these wheat pennies lacking a mint mark.
Undoubtedly, the 1922-D missing mintmark is an unusual coin, and as a result, it commands a high value. This coin is exceptionally rare in any grade, and most of the few existing examples are certified.
To verify the authenticity of the 1922 no mint mark cent, carefully inspect the coin for a sharp strike, especially on the reverse. Pay close attention to the word TRUST and the second number 2, as they should exhibit clear visibility.
8. 1909-S Wheat Penny
In 1909, the San Francisco Mint produced only around 1.8 million wheat pennies, a relatively low mintage when compared to other dates in the same series.
Although the 1909-S VDB tends to steal the spotlight, the 1909-S wheat penny shouldn’t be overlooked. Its scarcity in production and generally impressive strike make it highly desirable, even in circulated grades.
The red-colored 1909-S wheat pennies are considered to be in gem condition, ranking among the most valuable wheat pennies in the entire Lincoln series.
While a brown example can still fetch a respectable sum of about $1,700, red examples have been known to command much higher prices, with some selling for as much as $69,000.
7. 1917 Doubled Die Wheat Penny
The 1917 doubled die wheat penny has gained significant popularity among specialists and advanced collectors with a discerning eye.
There are approximately 200 specimens of this penny in both circulated and uncirculated conditions. Uncirculated examples are particularly scarce and challenging to find, especially in higher mint state grades.
The distinct doubling effect, coupled with its scarcity, enhances the appeal of the 1917 doubled die wheat penny among collectors. The doubling is noticeable around the motto “IN GOD WE TRUST” and the date.
Premium prices are to be expected, especially for the red variety. An MS67-graded red example, for instance, was auctioned for an impressive $120,000, while brown specimens can also command high prices, reaching as much as $14,950.
6. 1943-D Bronze Cent.
Similar to the 1944-steel cent, the 1943-D bronze cent is a topic of much discussion and is also susceptible to counterfeiting.
The 1943-D bronze cents were produced during the Mint’s shift from using copper to steel. In 1943, due to the need for copper in wartime efforts, the Mint minted coins on steel planchets for that year only.
During this transition, a few copper planchets were left behind and mistakenly struck with the 1943 dies. This error occurred with only a small number of copper planchets, making these coins exceptionally rare.
As always, it’s advisable to have your coins authenticated before making any significant investment. However, you can perform an initial check using the magnet test. Simply use a magnet to lift the penny. If the coin is not attracted to the magnet, it is likely an authentic bronze-coated copper cent. If it is attracted to the magnet, it is probably a steel coin coated in copper.
An example of a 1943-D bronze cent graded MS64 was sold for an astounding $840,000 at an auction in 2021.
5. 1909-S VDB Lincoln Cent.
The 1909-S VDB holds a special place in collectors’ hearts and is recognized among the 100 greatest coins in the United States.
The coin’s history adds to its allure. Named after its designer, Victor David Brenner, the 1909-S VDB wheat penny initially featured Brenner’s full name on the coin’s reverse at the bottom. However, the chief engraver at the time opted for the designer’s initials instead.
The prominent display of Brenner’s initials on the coin’s reverse sparked controversy, with concerns raised about it being perceived as illegal advertising due to its lack of subtlety. In response to the uproar, Mint workers removed the VDB initials from subsequent 1909 coins. That year, the San Francisco Mint struck only 484,000 Lincoln wheat pennies with the VDB initials, while the remaining mintage omitted them.
The low mintage instantly sparked interest in the VDB coins, leading collectors to hoard them in large quantities. Today, 1909-S VDB wheat pennies are exceptionally rare, with very few found in circulated condition, as collectors quickly amassed large quantities upon release.
Red 1909-S VDB Lincoln cents are the most valuable, fetching as much as $168,000. However, these coins also hold significant value in brown and red-brown colors, with prices ranging between $10,000 and $19,200.
4. 1914-D Wheat Penny.
With a mintage of approximately 1.2 million, the 1914-D wheat penny ranks among the scarcest in the series, sparking significant interest among coin collectors.
In contrast, during the same year, the Philadelphia Mint produced over 70 million wheat pennies, underscoring the true scarcity of the 1914 Denver penny.
If you happen to come across a penny that seems to be a 1914 wheat penny with a D mint mark, it’s crucial to ensure its authenticity.
This particular coin is susceptible to counterfeiting due to its rarity and the attention it garners from collectors. To verify that you indeed have a genuine 1914-D wheat penny, it’s advisable to seek the expertise of a professional authentication service.
3. 1921 Lincoln Cent.
The Mint produced nearly 40 million Lincoln wheat pennies in 1921, making these coins quite commonplace. Finding a 1921 Lincoln cent in circulated condition is easy, and they are generally very affordable.
However, as you move up in grades, these wheat pennies start to become scarcer, particularly at grade MS63, and they become extremely rare in grades MS67 or higher. The 1921 Lincoln cents in higher grades come with a higher price tag, exemplified by one example that graded MS68 and was sold for $55,200.
2. 1931-S Wheat Pennies.
The 1931-S Lincoln cent boasts the second lowest mintage in the entire Wheat penny series, with the Mint producing only 866,000 of these coins.
The limited mintage prompted collectors to hoard these pennies, exacerbating the shortage of 1931-S Wheat Pennies even further.
On the flip side, the hoarding of new coins means that uncirculated examples are relatively easy to obtain up to MS65. However, any penny graded above MS66 is exceptionally rare, with only about 100 specimens known to exist in this or a higher grade.
While red-colored 1931 wheat pennies command a premium, most other coins in this series are poorly struck, displaying faint details and minimal luster or frosting, even in higher grades.
For instance, a red-colored example graded MS66 was sold at a 2011 Heritage Auction for $18,600. Brown and Red Brown examples are similarly valuable, with prices ranging between $2,600 to $5,000.
1. 1944-D Steel Cent.
The 1944-D steel penny stands out as one of the rarest and most intriguing Wheat pennies. This error coin came into existence when wheat penny dies, designed for striking bronze planchets, ended up striking steel planchets instead.
In 1943, all mints, except for the one in Denver, produced zinc-clad steel coins for foreign countries. It is believed that some of these steel planchets found their way to the mints, where they were accidentally struck using 1944 wheat penny dies.
Since the production of the 1944-D steel cents was an unintended error, only a few were minted before Mint workers realized the anomaly. Today, there are only about seven known examples.
One of these examples, graded MS63 and considered the finest among the seven, fetched an impressive $115,000 in a sale.