The world of rare coin collecting holds few treasures more captivating than Lincoln Wheat Pennies.
While millions of these copper cents circulated between 1909 and 1958, certain dates and variations have become legendary among numismatists, commanding prices that transform humble pennies into five- and six-figure investments.
Let’s explore the ten most valuable Wheat Pennies, examining what makes them special and their current market values across different grades.
- 1943 Copper Penny The undisputed king of Wheat Penny rarities, the 1943 copper cent wasn’t supposed to exist at all. During World War II, copper was reserved for military use, and the Mint switched to zinc-coated steel cents for that year. However, a few copper planchets from 1942 accidentally made their way into the 1943 production.
Current Market Values:
Good (G-4): $100,000+
Fine (F-12): $150,000+
Extremely Fine (EF-40): $200,000+
Mint State (MS-60): $250,000+
Mint State (MS-65): $350,000+
Only about 20 genuine examples are known to exist, making this the holy grail of Wheat Penny collecting. One specimen sold for over $1 million at auction.
- 1944 Steel Penny The opposite scenario of the 1943 copper cent occurred in 1944, when a few steel planchets leftover from 1943 were accidentally used. These rarities command impressive prices when authenticated.
Current Market Values:
Good (G-4): $75,000+
Fine (F-12): $100,000+
Extremely Fine (EF-40): $150,000+
Mint State (MS-60): $200,000+
Mint State (MS-65): $250,000+
- 1909 VDB-S The first year of Lincoln Cent production yielded this famous rarity. The designer’s initials (VDB) appeared on the reverse but were quickly removed due to public criticism. Only 484,000 were minted in San Francisco.
Current Market Values:
Good (G-4): $750+
Fine (F-12): $1,200+
Extremely Fine (EF-40): $2,000+
Mint State (MS-60): $3,500+
Mint State (MS-65): $9,000+
Mint State (MS-67): $25,000+
- 1922 Plain (No D) Originally struck at the Denver Mint, some coins emerged without the D mint mark due to worn dies. These “Plain” varieties are highly sought after, especially in higher grades.
Current Market Values:
Good (G-4): $500+
Fine (F-12): $1,000+
Extremely Fine (EF-40): $2,500+
Mint State (MS-60): $7,500+
Mint State (MS-65): $25,000+
- 1955 Doubled Die Obverse Perhaps the most famous Wheat Penny error, this dramatic doubled die shows obvious doubling in the date and inscriptions. About 20,000 were minted before the error was discovered.
Current Market Values:
Good (G-4): $1,000+
Fine (F-12): $2,000+
Extremely Fine (EF-40): $3,500+
Mint State (MS-60): $6,000+
Mint State (MS-65): $25,000+
- 1914-D With just 1.2 million pieces minted, this is one of the key dates of the series. Well-preserved examples are particularly valuable.
Current Market Values:
Good (G-4): $200+
Fine (F-12): $400+
Extremely Fine (EF-40): $1,500+
Mint State (MS-60): $3,000+
Mint State (MS-65): $12,000+
- 1931-S The Great Depression led to a very low mintage of just 866,000 pieces, creating another key date in the series.
Current Market Values:
Good (G-4): $100+
Fine (F-12): $150+
Extremely Fine (EF-40): $300+
Mint State (MS-60): $600+
Mint State (MS-65): $3,000+
Mint State (MS-67): $15,000+
- 1909-S The first San Francisco Mint Lincoln Cent (without VDB) is another scarce issue, with just 1.8 million produced.
Current Market Values:
Good (G-4): $100+
Fine (F-12): $150+
Extremely Fine (EF-40): $400+
Mint State (MS-60): $1,000+
Mint State (MS-65): $6,000+
Mint State (MS-67): $20,000+
- 1924-D Another low-mintage key date, with many examples poorly struck.
Current Market Values:
Good (G-4): $75+
Fine (F-12): $150+
Extremely Fine (EF-40): $400+
Mint State (MS-60): $1,000+
Mint State (MS-65): $8,000+
- 1926-S Rounding out our top ten is this San Francisco issue, which often comes weakly struck.
Current Market Values:
Good (G-4): $50+
Fine (F-12): $100+
Extremely Fine (EF-40): $300+
Mint State (MS-60): $1,000+
Mint State (MS-65): $7,000+
Authentication and Grading Considerations
When dealing with rare Wheat Pennies of this caliber, professional authentication becomes crucial. Third-party grading services like PCGS and NGC provide essential verification of authenticity and grade. Their expertise helps protect buyers from the numerous counterfeits in circulation, particularly of key dates like the 1943 copper cent.
Condition plays a tremendous role in value. The price differences between grades can be staggering, often increasing exponentially as the grade improves. Mint State examples, particularly those grading MS-65 or higher, command significant premiums over circulated specimens.
Market Dynamics and Investment Potential
The market for these rare Wheat Pennies remains strong, driven by both serious numismatists and investors recognizing their historical significance and scarcity. Values have generally trended upward over the past decades, though like any market, prices can fluctuate based on economic conditions and collector demand.
Several factors influence a coin’s value beyond its date and mint mark:
Strike Quality: Well-struck examples bring premium prices
Color: Original red specimens command the highest prices
Eye Appeal: Attractive toning can enhance value
Population: The number of known examples in each grade affects pricing
Provenance: Documented history of ownership can add value
Tips for Collectors
When pursuing these valuable Wheat Pennies, consider these guidelines:
Always buy authenticated examples for significant purchases
Study the diagnostics of genuine specimens thoroughly
Work with reputable dealers who guarantee authenticity
Keep detailed records of purchases and authentication numbers
Store coins properly to preserve their condition
The Future of Rare Wheat Penny Values – 10 Rare Lincoln Wheat Penny value
As time passes, these rarities seem likely to become even more desirable. Their historical significance, combined with their scarcity and the growing interest in numismatics, suggests continued strong demand. However, collectors should always buy for enjoyment first, considering any potential appreciation as a secondary benefit.
The values listed here represent current market conditions, but like any collectible, prices can change. Regular consultation of current price guides and auction results helps track market trends. Remember that exceptional specimens of these rarities often sell for multiples of the listed values, particularly when they possess outstanding eye appeal or notable provenance.
These ten Lincoln Wheat Pennies represent the pinnacle of American small cent collecting. Their values reflect not just their rarity but their importance in American numismatic history.
Whether searching through old collections or competing at major auctions, collectors pursuing these copper treasures participate in a rich tradition of preserving and appreciating America’s numismatic heritage.