Wheat pennies, minted between 1909 and 1958, are among the most collectible and valuable coins in the United States. Some of these one-cent pieces, despite their humble face value, have fetched thousands at auction, making them a treasure for both novice and seasoned collectors.
Whether you’re hunting for hidden gems in your old coin jar or searching for that elusive wheat penny to complete your collection, here’s a detailed look at seven of the most valuable wheat pennies and why they stand out.
7 Most Valuable Wheat Pennies
1. 1943 Copper Wheat Penny
Arguably one of the rarest pennies in existence, the 1943 copper wheat penny is a result of a minting error during World War II. Due to copper shortages, the U.S. Mint switched to steel planchets for pennies in 1943, but a few copper planchets were accidentally used.
This error has made these pennies highly sought after. One example sold for $840,000 in 2021. If you’re lucky enough to find one, authenticating it using a magnet is critical—if it sticks, it’s steel, not copper.
Mintage: Fewer than 20 known
Value: Up to $408,000
2. 1909-S VDB Wheat Penny
This is one of the most famous Lincoln wheat pennies, mainly due to its limited production and the controversy surrounding the initials “VDB” (Victor David Brenner, the coin’s designer).
The 1909-S VDB wheat penny is a must-have for collectors because only 484,000 were ever minted. A top-grade example in MS67 Red fetched over $517,000 at auction.
Mintage: 484,000
Value: Up to $517,000
3. 1914-D Wheat Penny
The 1914-D wheat penny was minted in Denver, and only 1.1 million were ever produced. This makes it one of the most valuable non-error wheat pennies, with high-grade examples selling for up to $158,625. It’s especially sought after in uncirculated condition.
Mintage: 1.1 million
Value: Up to $158,625
4. 1955 Doubled Die Penny
This fascinating penny comes from the Philadelphia Mint and is famous for its noticeable double-printed text on the obverse, especially in the words “In God We Trust.”
This error occurred during the die-creation process, and only a few thousand are known to exist. An example in MS65 Red condition can fetch over $114,000.
Mintage: A few thousand
Value: Up to $114,000
5. 1922 No D Wheat Penny
In 1922, the Denver Mint produced a batch of pennies that were missing the “D” mint mark, making this an extremely rare coin. It’s the only Lincoln cent in the series that was minted without a mint mark due to an error. In high grades, this penny is valued up to $74,750.
Mintage: Unknown (Very limited)
Value: Up to $74,750
6. 1931-S Wheat Penny
With only 866,000 minted, the 1931-S wheat penny is considered a low-mintage coin and highly collectible. It’s sought after both for its scarcity and for the historical context of the Great Depression, during which many coins were hoarded. Uncirculated versions can sell for as much as $40,800.
Mintage: 866,000
Value: Up to $40,800
7. 1917 Doubled Die Penny
The 1917 Doubled Die penny is popular among collectors due to the visible doubling of the date and inscriptions. High-quality examples are scarce, and uncirculated varieties are extremely rare. In 2023, a red example in MS67 sold for over $120,000..
Mintage: A few hundred known
Value: Up to $120,000
| Penny | Mintage | Maximum Value |
|---|---|---|
| 1943 Copper Wheat Penny | Fewer than 20 | $408,000 |
| 1909-S VDB Wheat Penny | 484,000 | $517,000 |
| 1914-D Wheat Penny | 1.1 million | $158,625 |
| 1955 Doubled Die Penny | A few thousand | $114,000 |
| 1922 No D Wheat Penny | Unknown | $74,750 |
| 1931-S Wheat Penny | 866,000 | $40,800 |
| 1917 Doubled Die Penny | A few hundred | $120,000 |
Conclusion
Wheat pennies are a fascinating piece of American history, with some rare varieties worth thousands of dollars. From minting errors to limited productions, these pennies are a great investment for collectors and coin enthusiasts alike.
Whether you’ve inherited a collection or you’re just starting, always have your coins authenticated by a professional to ensure their value. Keep an eye out for these valuable pennies, as you never know when you might find one in your pocket change.
FAQs
1. How can I tell if my 1943 penny is copper or steel?
You can use a magnet. If the penny sticks, it’s steel. If it doesn’t, it could be the rare copper variety.
2. Why are 1955 doubled die pennies valuable?
The 1955 doubled die penny is valuable due to a unique minting error that caused the date and inscriptions to appear doubled, making it a collector’s favorite.
3. What is the significance of the “VDB” on the 1909 penny?
The “VDB” stands for Victor David Brenner, the designer of the Lincoln cent. His initials were added to the reverse, but the placement was controversial, leading to a short production run.
4. How much is a 1914-D penny worth in circulated condition?
Even in circulated condition, the 1914-D penny can fetch hundreds or even thousands of dollars, with top-grade examples reaching $158,625.
5. Why is the 1922 No D penny so rare?
The 1922 No D penny is rare because it was accidentally struck without a mint mark, which should have appeared on all Denver-minted coins.
References
- History Tools, “Collecting Lincoln Wheat Pennies: A 2024 Value Guide”(History Tools).
- Bullion Shark, “7 of the Most Valuable Wheat Pennies”(Bullion Shark).
- Lost Treasure HQ, “Top 30 Most Valuable Wheat Pennies 2024″(Lost Treasure HQ).
- CoinValueChecker, “50 Most Valuable Wheat Penny Coins Worth Money”(Coin Value Checker).
