Did you know a single old penny in your pocket could be worth thousands — even millions? Collectors are paying huge sums for rare Lincoln Wheat Pennies, turning what looks like ordinary change into a life-changing discovery.
Here’s a list of the top 9 most valuable Wheat Pennies, how to identify them, and why collectors want them.
What Are Lincoln Wheat Pennies?
First introduced in 1909, the Lincoln Wheat Penny replaced the Indian Head Cent. Its reverse design shows two wheat stalks surrounding the words “One Cent,” which gave it its nickname.
These coins were minted until 1958, after which the Lincoln Memorial Cent took over. While most Wheat Pennies are common, a few rare versions have become legendary treasures among coin collectors.
Why Some Wheat Pennies Are So Valuable
Not every Wheat Penny is worth more than a cent. The ones collectors chase are rare due to:
- Errors in minting (like doubled designs or wrong metals)
- Very low mintage numbers
- Historical significance
- High-grade condition
When these factors combine, the value can skyrocket at auctions.
Top 9 Most Valuable Lincoln Wheat Pennies
1. 1943 Copper Penny – Worth Up to $1.9 Million
During WWII, pennies were made from steel to save copper for the war. A few were mistakenly struck in copper. These extremely rare coins can sell for over $1 million.
2. 1944 Steel Penny – $75,000+
In 1944, minting returned to copper. But a handful were still struck in leftover steel. Collectors now pay $75,000 or more for one.
3. 1909-S VDB – $2,200+
The first year of issue included designer Victor David Brenner’s initials “VDB.” Only 484,000 coins were minted at the San Francisco Mint, making it highly collectible.
4. 1922 No D Penny – $15,000
Produced in Denver, but some came out missing the “D” mint mark. Clean examples easily fetch $15,000.
5. 1914-D – $3,500
With just over 1 million coins struck, this Denver penny is among the scarcest of early Wheat Cents. In high grade, it’s worth $3,500+.
6. 1931-S – $110
A smaller mintage of 866,000 makes this penny desirable. It’s not as expensive as others but still sells for around $110 or more.
7. 1955 Double Die – $1,200+
Perhaps the most famous error coin. The date and lettering look doubled to the naked eye. Even circulated versions bring $1,200+.
8. 1949-D/S Overmintmark – $180
A quirky minting error where a Denver “D” mint mark was stamped over a San Francisco “S.” Worth about $180 in collector markets.
9. 1917 Double Die – $3,000
Another doubled design, most noticeable on the word “LIBERTY” and the date. A strong example can sell for $3,000.
Value Comparison at a Glance
| Year & Variety | Special Feature | High Value |
|---|---|---|
| 1943 Copper | Wrong metal | $1.9M |
| 1944 Steel | Wrong metal | $75K |
| 1909-S VDB | Low mintage | $2.2K |
| 1922 No D | Missing mint mark | $15K |
| 1914-D | Low mintage | $3.5K |
| 1931-S | Low mintage | $110 |
| 1955 Double Die | Doubled design | $1.2K |
| 1949-D/S | Overmintmark error | $180 |
| 1917 Double Die | Doubled design | $3K |
How to Spot a Rare Wheat Penny
- Check the date and mint mark (rare years often come from San Francisco or Denver).
- Look for doubling in letters and numbers.
- Weigh the coin (copper pennies = 3.11g, steel = 2.7g).
- Never clean coins — cleaning reduces their collector value.
For a deeper guide, see resources from the American Numismatic Association.
Tips for Coin Collectors
- Store coins in protective holders to prevent scratches.
- Use magnifying tools to detect subtle errors.
- Consider professional grading through PCGS or NGC.
- Follow current auction results — coin values change over time.
FAQs About Wheat Pennies
Q: Are all Wheat Pennies valuable?
No. Only rare dates, errors, or coins in top condition are worth big money.
Q: Where can I sell my Wheat Penny?
Reputable options include coin shows, online auctions, or licensed dealers.
Q: Can circulated coins still be worth a lot?
Yes. Even worn examples of rare varieties can sell for thousands.
Final Thoughts
The excitement of collecting Lincoln Wheat Pennies lies in the chance that the next valuable coin is already in your pocket change.
From the 1943 copper penny worth nearly $2 million to fascinating double-die errors, these small coins hold massive history — and massive potential value.
So, next time you see a Wheat Penny, don’t overlook it. You could be holding a hidden fortune