Lincoln Wheat Pennies Value & Key Dates

Is Your Lincoln Wheat Penny Valuable? Check Key Dates & Prices!

About the Author

Lucie Weisman is a professional numismatist, expert and rare coin collector with over a decade of experience. Lucie is well respected in numismatic circles, speaks at international conferences on U.S. coins and is often published in collecting magazines and journals.

Her professional field – studying and estimating of valuable American coins, including iconic rare Lincoln wheat penny examples and identifying unique minting errors.

What Is a Lincoln Wheat Penny Collection?

Before revealing all the cards answering the question are Lincoln wheat pennies worth anything, it is worth understanding a little bit of general information and finding out details and features of ordinary and rare Lincoln Wheat pennies, as well as Lincoln wheat penny value history significance. Well, first things first.

This coin is not just another one-cent U.S. coin but a symbol of resilience, economic ups and downs, and one of collectors’ favorite items. Among them there are both ordinary specimens and real numismatic jewels: rare Lincoln Wheat penny valuation examples, which can reach the value of hundreds of thousands of dollars.

So, where is the truth and can an ordinary cent really be a 4.3 million dollar Lincoln wheat penny, a Lincoln wheat penny valued at $121 million still in circulation or even a Lincoln wheat penny $159 million worth?

Design Features

obverse and reverse of the ordinary lincoln wheat pennies

This series of cents is the first U.S. coin issue to feature a real person (Abraham Lincoln) on the obverse. What does the Lincoln wheat penny look like?

In addition to the portrait of the president, the obverse shows the inscription “IN GOD WE TRUST”, to the left of the portrait is the date of issue and to the right – the mint mark. By the way, this mark directly affects the Lincoln wheat penny rare coin status.

The reverse of the coin shows two ears of wheat on each side of the inscription “ONE CENT” (symbol of America’s rich agrarian past). Below the inscription is “UNITED STATES OF AMERICA” and at the bottom is the motto “E PLURIBUS UNUM”. Some erroneous stampings show a tear or displacement of these inscriptions, which also dramatically increases Lincoln wheat penny coin value.

The coin has a smooth edge with no notches that protects the field from damage. But the worn edge reduces Lincoln Wheat penny values, especially in high grades. It should be noted that the depth of relief on the coin sides varies by year and the wear of the stamp. Bright relief (MS 65 and above) is the key to a high Lincoln wheat penny valuable coin appraisal.

Minor stamp cracks, scratches and pitting also affect Lincoln wheat penny value price, especially for collectors looking for Lincoln wheat penny rare collectible valuable specimens.

Key Dates: Rarest and Most Valuable Years of Issue

Coins were minted from 1909 through 1958 by three mints: Philadelphia (unmarked), Denver (D), and San Francisco (S). Many common issues appeared during this period, but key dates stand out among them, and each of them may represent a valuable Lincoln wheat penny rare coin worthy of a special place in a collection.

Over the half-century history of these pieces, these are the issues that set the reference Lincoln wheat penny values and help to understand how much is a Lincoln wheat penny worth in the most common states.

1. 1909 S

  • Composition: 95 % copper, 5 % tin + zinc
  • Weight: 3.11 g
  • Diameter: 19.05 mm
  • Edge: Plain
  • Mint: San Francisco (S)
The both sides of Lincoln wheat penny rare collectible valuable example - 1909-S coin.

This penny is one of the first pieces without the initials V.D.B. on the reverse. It is far less famous than its “little brother” with initials but remains a vital part of any complete Wheaties collection. Only 1,825,000 pieces were minted, making it quite rare compared to other issues.

The lack of a V.D.B. makes the coin less striking in appearance, but it is prized among experts for its historical significance – the start of the issue of regular ones.

Even with moderate wear (VF 20) this Lincoln wheat penny price valued from $150 to $300, and in XF grade and higher can go up to $1,000-2,000 or more.

2. 1909‑S VDB

  • Composition: 95 % copper, 5 % tin + zinc
  • Weight: 3.11 g
  • Diameter: 19.05 mm
  • Edge: Plain
  • Mint: San Francisco (S)
Obverse and reverse of Lincoln wheat penny rare coin 1909-S with no VDB initials

This is the earliest coin with V.D.B. initials on the reverse. A total of only 484,000 were minted in the first four days of production, and then the letters were removed.

In VF-20 condition, this cent can be found for $700-1,500, and in EF-XF condition, the sharp relief and bright luster of the metal can raise the price to $5,000-10,000. Speculative headlines promise Lincoln wheat penny values of $600k or Lincoln Wheat penny value $4 million, but actual sales rarely exceed the mark of a few tens of thousands of dollars.

3. 1914‑D

  • Composition: 95 % copper, 5 % tin + zinc
  • Weight: 3.11 g
  • Diameter: 19.05 mm
  • Edge: Plain
  • Mint: Denver (D)
Obverse and reverse of valuable lincoln wheat penny 1914-D

This year’s Denver Mint issue was surprisingly modest – only about 1,193,000 pieces, while other years saw tens of millions.

In good condition (VF 20) this Lincoln wheat penny value rare coin is a few hundred, but if the coin is not worn – the price rises to a few thousand, as collectors especially appreciate the clear drawing of the President’s profile and readable date.

4. 1922 Plain (No D)

  • Composition: 95 % copper, 5 % tin + zinc
  • Weight: 3.11 g
  • Diameter: 19.05 mm
  • Edge: Plain
  • Mint: Denver (mark missing)
Obverse and reverse of iconic rare lincoln wheat penny, so called 1922 plane coin

In 1922, Denver used a stamp that was partially erased or soiled by the time of minting, and the letter “D” simply did not appear on the obverse. If you also pay attention to the fine details of the relief and the positioning of the ears, it becomes clear: you are looking at a rare plain one.

This Lincoln Wheat penny value starts from $500 (VF 30), and XF 40 with a clean field and sharp edges of ears reaches $4,000-5,000. This specimen is consistently included in every Wheat Lincoln valuable pennies chart and is a must in the albums of anyone interested in the Lincoln wheat ear penny collection.

5. 1931‑S

  • Composition: 95 % copper, 5 % tin and zinc
  • Weight: 3.11 g
  • Diameter: 19.05 mm
  • Edge: Plain
  • Mint: San Francisco (S)
a 1931-S coin example - a valuable piece of Lincoln wheat penny collection

1931 was the final year for the San Francisco Mint’s examples: only 866,000 pieces were struck, and most went into circulation. Today, it is difficult to find a piece with clear details of both the president’s hair and ears.

Errors and Varieties of Other Lincoln wheat Pennies Worth Money

The error coin Lincoln wheat penny is something that can be a real sensation. All along the way, some errors were identified to bring owners serious profits and be at the top of the Lincoln wheat penny valuation chart.

The main categories of errors and examples of verified specimens:

Error Examples Features Estimated value of Lincoln wheat pennies
Doubled Die Obverse (DDO) 1955, 1917, 1936, 1941 and so on Doubling of inscriptions and date because of the stamp shift $1,00-20,000+
Wrong Planchet 1943 Bronze, 1944 Steel Minting on the wrong metal blank $75,000-1,700,000+
Repunched Mint Mark (RPM) 1946-D, 1955-D Repeated striking of the mint mark, noticeable on mirror or red coins $500-5,000+
Off-Center Strike 1943-D, 1938 (minted in Philadelphia) Workpiece shift, part of the relief is not imprinted. The greater the shear, the higher the lincoln wheat penny value $100-3,000+
Broadstrike / No Rim 1936 Broadstrike, 1911 Broadstrike Lack of frame – metal spreads beyond the normal diameter $50-1,500+
Die Crack / Cud 1954-S “BIE” Crack, 1956-D Cud, Cracks or protrusions (“scars”, “cuds”) near letters or date $30-2,000+
Wide AM Reverse (only Philadelphia) 1999 Wide AM   Increased spacing between “A” and “M” in “AMERICA”, especially favored by the 1999 Wide AM coin $150 – $138 000+

*Values are approximate and may change depending on coin grade, current demand and other reasons.

So, the table shows what Lincoln wheat penny valuation rare coin specimens really stand out in the market and form the top of the price rankings. Now you have a clear idea of what features determine the real price of these coins.

How Much Is a Lincoln Wheat Penny Worth?

After we looked at key dates, rare specimens and known minting errors and figured out what Lincoln wheat pennies are worth money, it becomes clear: the price of a piece is affected by a number of criteria, not just one factor. The main ones are:

  • Historical significance
  • Circulation
  • Condition of the coin (grade)
  • Rare varieties and minting errors
  • Popularity and demand

Below is another detailed Lincoln wheat penny value chart with different copies, so you can easily navigate through the controversial price issues.

Year, mint Features Circulated MS60–MS65 Record price
1909 (Philadelphia) First year of issue $4.85 (G) $21–$30 (UNC) ~$5 000 (Heritage)
1909 V.D.B. (Philadelphia) Initials V.D.B. on the reverse $8.45 (G) $37–$909 (Proof and UNC) $168 000 (Stack’s Bowers MS67RD)
1909-S V.D.B. Initials V.D.B.; mintage 484 000 $120 (G) $428–$487 (UNC) ~$94 000 (PCGS MS65RD)
1910 (Philadelphia) Mass circulation $5.65 (G) $44.82–$730.89 (UNC) P ~$1 714 (PCGS)
1914-D Key date $220 (G) $2 624–$3 554 (UNC) $158 625 (NGC MS68RD)
1922 No D Error: lack of D due to postmark erasure $652 (G) $10 374–$18 882 (UNC) ~$50 000 (PCGS)
1931-S Key date $101 (G) $213–$244 (UNC) ~$795 (USA Coin Book)
1958 (Philadelphia) Final year of issue $0.06 (G) $0.36–$1.22 (UNC) ~$9.80 (Proof)
1917 DDO (Philadelphia) Doubled die obverse in inscription “LIBERTY”, and date $200–$300 (G–VF) $4 150–$8 400 (UNC) $120 000 (Heritage MS63RD)
1955 DDO (Philadelphia) Doubled die obverse in inscription “IN GOD WE TRUST” $1 200–$2 650 (G–VF) $4 000–$16 000 (UNC) $288 000 (PCGS MS66RD)
1943 Bronze (Philadelphia/D/S) Error: bronze blank instead of steel one — — $1,700,000 (NGC Coin)
1944 Steel (Philadelphia/D/S) Error: steel blank instead of bronze one — — $408 000 (NGC MS65)
1999 Wide AM Reverse (only Philadelphia) Wide interval between “A” and “M” in “AMERICA” $18–$25 (G) $135–$6 452 (UNC) $138 000 (PCGS MS67RD)

*Values are approximate and can change depending on coin grade, current demand and other reasons.

As you can expect, the value of these specimens can be really impressive. For example, a 1943 Bronze Lincoln wheat penny rare valuable specimen was sold for $1,700,000 privately through Legend Numismatics. So, the tales of Lincoln wheat penny million dollar value have a real basis in fact.

However, it pays to be careful and check information thoroughly when you see queries or offers like “rare Lincoln wheat penny value billion”; “30 million dollar Lincoln wheat penny worth” or “Lincoln wheat penny $110 million worth”, as these figures in public sources or auction bases are not confirmed. They usually come from:

  • Speculative YouTube videos
  • Clickbait articles
  • Incorrect interpretations of rare grades
  • Misleading eBay listings.

So many headlines like “Lincoln wheat penny billion dollar valuation” are not actually supported by actual sales or certification but merely refer to a hypothetical worth at exceptional condition + rare marriage + uniqueness – and even that is theoretical. So, all inflated and unrealistic estimates are part of Lincoln Wheat penny valuation speculation that should not confuse you.

FAQs

Coins at the level of several million dollars are extremely rare. The chance of getting such a coin out of circulation is less than 0.001%.

Yes, quite possibly. With rare pieces and rising auction prices, the total value of private collections could be close to the $500 million mark.

The cent of this series is more than just a coin. Behind each one is an era, labor, mistakes and discoveries. These pieces became an integral part of the US numismatic history and still continue to inspire collectors around the whole world. And even these small pieces, seeming ordinary, can surprise you if you know what to look for.