Why Collectors and Investors Seek Out Wheat Pennies
Wheat pennies, officially known as Lincoln Wheat Cents, have been a cornerstone of U.S. numismatics since their introduction in 1909. These iconic coins, minted until 1958, hold historical significance, with key dates and rare errors fetching thousands of dollars in today’s market. Whether you're a seasoned collector, an investor, or simply intrigued by rare pennies, this guide explores the most valuable wheat pennies, how to identify them, and why they remain highly sought after.
The Legacy of the Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced to commemorate the 100th anniversary of President Abraham Lincoln’s birth. Designed by Victor D. Brenner, this coin was revolutionary, marking the first time a real historical figure appeared on U.S. coinage.
What Makes the Wheat Penny Design Special?
- Historic Significance: The obverse features Lincoln’s detailed portrait, replacing the classical Liberty designs of previous cents.
- Symbolism of Wheat Stalks: The reverse design features two wheat stalks, representing prosperity and agricultural strength in early 20th-century America.
- Collector Appeal: Early editions, like the 1909-S VDB penny, remain among the most valuable and desirable coins in the series.
Rare and Valuable Wheat Pennies: Key Dates and Scarce Issues
Not all wheat pennies are common pocket change. Some key dates and errors stand out due to their low mintage, unique production mistakes, or high demand among collectors. Here are some of the most valuable Lincoln Wheat Pennies:
- 1909-S VDB Wheat Penny – The first-year issue featuring Victor D. Brenner’s initials on the reverse had a limited mintage, making it one of the most sought-after Lincoln cents. (Value: $600 - $1,500+)
- 1943 Wheat Penny – An extremely rare wartime error where some pennies were mistakenly struck in copper instead of steel, making them worth up to $250,000. (Value: Up to $250,000+)
- 1955 Double Die Wheat Penny – A famous error coin, featuring doubled date and lettering, making it highly collectible. (Value: $1,000 - $20,000+)
- 1922 "No D" Wheat Penny – A Denver-minted penny where the D mintmark was accidentally omitted, increasing its rarity. (Value: $500 - $2,500+)
For a full list of the top 100 valuable wheat pennies, see the detailed section below.
The Appeal of Circulated Wheat Pennies: Everyday History in Your Hands
Even common wheat pennies hold a special place in history. These coins were in circulation from 1909 to 1958, meaning they passed through the hands of millions of Americans during some of the most pivotal moments in U.S. history, including:
- World War I & World War II
- The Great Depression
- The Rise of the Industrial Age
Many collectors enjoy the thrill of finding wheat pennies in old jars, bank rolls, or estate sales, making them an affordable and historically significant entry point into coin collecting.
How to Identify Rare Wheat Pennies in Your Collection
Finding valuable wheat pennies requires knowledge of key attributes. Here’s how to spot rare and high-value coins in your collection:
- Check the Date and Mintmark – Key dates and rare mintmarks (e.g., 1909-S, 1914-D, 1931-S) increase a penny’s value.
- Look for Minting Errors – Double dies, repunched mintmarks (RPMs), and off-center strikes add significant value.
- Assess Metal Composition – Certain years, such as 1943, feature both steel and copper variations, with the 1943 copper penny being one of the rarest coins in U.S. history.
- Grade and Condition – Coins in uncirculated or high-grade condition can command exponentially higher premiums.
- Use a Magnifying Tool – Small details like die cracks, mint errors, and repunched marks can be difficult to see with the naked eye.
Top 100 Most Valuable Wheat Pennies
Below is a list of the 100 wheat pennies that are the most valuable to collectors and investors. Each of these coins has historical significance, minting errors, or low mintage numbers, making them highly sought after:
- 1943 Copper Wheat Penny
Accidentally struck on leftover copper planchets instead of steel, this rare error is one of the most famous and valuable coins in U.S. history.
(Value: Up to $250,000+) - 1944 Steel Wheat Penny
Struck on leftover steel planchets from 1943, this error coin is highly rare and coveted by collectors.
(Value: $75,000–$125,000) - 1943 Bronze Wheat Penny (Philadelphia Mint)
Another rare error struck on leftover bronze planchets intended for 1942 coins.
(Value: $100,000+) - 1942 Steel Wheat Penny Pattern
This experimental coin never made it to circulation, making it extremely rare.
(Value: $30,000–$75,000) - 1959 Wheat Penny Pattern
An experimental wheat penny struck after the series ended, making it highly rare.
(Value: $25,000–$50,000) - 1955 Double Die Wheat Penny
Known for its striking doubling of the obverse text, this error is a must-have for serious collectors.
(Value: $1,000–$20,000+) - 1958 Doubled Die Obverse Wheat Penny
A rare error with doubling on the obverse, making it a standout in the series.
(Value: $2,000–$10,000+) - 1909-S VDB Wheat Penny
The inaugural wheat penny featuring Victor D. Brenner’s initials, with a limited mintage of only 484,000 coins.
(Value: $700–$2,000+) - 1922 "No D" Wheat Penny
A Denver-minted coin missing its "D" mintmark due to a die error, making it a unique and valuable collector’s piece.
(Value: $500–$2,500+) - 1914-D Wheat Penny
With a mintage of just over 1 million, this coin is a key date in the series and highly sought after.
(Value: $200–$1,500+) - 1931-S Wheat Penny
One of the lowest-mintage coins of the Great Depression era, with fewer than 900,000 produced.
(Value: $100–$1,000+) - 1924-D Wheat Penny
A semi-key date with a relatively low mintage, making it valuable among collectors.
(Value: $50–$800+) - 1917 Double Die Obverse Wheat Penny
Features dramatic doubling of obverse elements, adding significant value.
(Value: $150–$600+) - 1912-S Wheat Penny
A key date with limited mintage, making it a valuable addition to collections.
(Value: $80–$400+) - 1936 Double Die Obverse Wheat Penny
Subtle but collectible doubling on the obverse design makes this coin desirable.
(Value: $75–$200+) - 1923-S Wheat Penny
A low-mintage coin from the San Francisco Mint, sought after for its scarcity.
(Value: $50–$300+) - 1920-S Wheat Penny
This early San Francisco mint coin remains popular due to its relative scarcity.
(Value: $30–$150+) - 1939 Double Die Reverse Wheat Penny
Doubling on the reverse design elements makes this a standout collector’s piece.
(Value: $75–$250+) - 1913-D Wheat Penny
A semi-key date with a relatively low mintage from the Denver Mint.
(Value: $40–$150+) - 1949-S Wheat Penny with RPM
Repunched mintmark varieties on this coin add unique value to an otherwise common issue.
(Value: $30–$120+) - 1918-D Wheat Penny
A semi-key date with lower mintage from the Denver Mint.
(Value: $30–$125+) - 1934 Double Die Reverse Wheat Penny
Doubling on the reverse design makes this a standout piece.
(Value: $75–$300+) - 1933-D Wheat Penny
A scarce coin produced during the Great Depression, sought after by numismatists.
(Value: $50–$200+) - 1927-S Wheat Penny
A collectible coin due to its relatively low production numbers.
(Value: $40–$150+) - 1930-S Wheat Penny
This San Francisco-minted coin is sought after for its relative scarcity.
(Value: $35–$150+) - 1926-S Wheat Penny
A low-mintage coin that remains in high demand among collectors.
(Value: $50–$200+) - 1913-S Wheat Penny
This semi-key date from the San Francisco Mint is highly sought after due to its low mintage.
(Value: $75–$300+) - 1921-S Wheat Penny
A rare coin from a year with lower overall production.
(Value: $60–$300+) - 1915-S Wheat Penny
With a mintage of just over 4.8 million, this coin is a semi-key date in the series.
(Value: $70–$350+) - 1929-S Wheat Penny
A low-mintage coin that remains in demand among collectors.
(Value: $25–$100+) - 1928-S Wheat Penny
Known for its lower mintage and high demand among collectors.
(Value: $30–$150+) - 1925-S Wheat Penny
This coin’s low mintage and scarcity make it a popular choice for collectors.
(Value: $30–$200+) - 1916-S Wheat Penny
A semi-key date from the San Francisco Mint with lower production numbers.
(Value: $50–$300+) - 1922-D Wheat Penny with Weak Reverse
This Denver-minted coin is notable for its faintly struck reverse, creating unique collector appeal.
(Value: $40–$150+) - 1931-D Wheat Penny
A scarce coin with fewer than 4.4 million minted, making it highly desirable.
(Value: $50–$250+) - 1919-S Wheat Penny
A semi-key date with relatively low production, making it a desirable piece.
(Value: $40–$200+) - 1927-D Wheat Penny
A Denver-minted coin with relatively low production numbers.
(Value: $30–$120+) - 1943 Steel Penny with Die Breaks
Die breaks or cracks make this already unique wartime penny even more collectible.
(Value: $20–$75+) - 1920-D Wheat Penny
A Denver-minted coin with lower mintage, making it more collectible.
(Value: $30–$120+) - 1930-D Wheat Penny
A lower mintage coin from the Denver Mint, prized for its scarcity.
(Value: $25–$100+) - 1938-D Wheat Penny
Known for its lower mintage, this coin appeals to collectors completing a set.
(Value: $25–$75+) - 1936-S Wheat Penny
A semi-key date from the San Francisco Mint with a relatively low mintage.
(Value: $40–$150+) - 1940-S Wheat Penny with Die Cracks
Die cracks on these coins create unique patterns, increasing their desirability.
(Value: $25–$100+) - 1911-S Wheat Penny
A semi-key date with a lower mintage from the San Francisco Mint.
(Value: $100–$400+) - 1912-D Wheat Penny
A key date from the Denver Mint with a relatively low mintage.
(Value: $50–$250+) - 1947-S Wheat Penny with RPM
Repunched mintmarks make these coins stand out from the standard issues.
(Value: $25–$100+) - 1941-S Wheat Penny with RPM
The repunched mintmark adds collectibility to this early World War II-era coin.
(Value: $30–$120+) - 1948-S Wheat Penny with Die Chips
Die chip errors on this coin add a unique touch for collectors.
(Value: $25–$100+) - 1949-D Wheat Penny with Die Chips
Die chips on this Denver-minted coin add to its collector appeal.
(Value: $20–$60+) - 1942-D Wheat Penny with RPM
This Denver-minted coin features a repunched mintmark, making it a desirable error for collectors.
(Value: $40–$150+) - 1937 Double Die Obverse Wheat Penny
Features doubling on the obverse inscriptions, making it a collectible standout.
(Value: $50–$200+) - 1926-D Wheat Penny
A low-mintage coin from the Denver Mint with lasting appeal for collectors.
(Value: $30–$125+) - 1915-D Wheat Penny
This Denver-minted coin has a low mintage, making it highly collectible.
(Value: $40–$150+) - 1924-S Wheat Penny
A scarce coin from the San Francisco Mint with high demand among collectors.
(Value: $50–$300+) - 1945-S Wheat Penny with RPM (Repunched Mintmark)
Repunched mintmarks add intrigue and value to this post-war coin.
(Value: $50–$150+) - 1918-S Wheat Penny
This semi-key date from the San Francisco Mint has enduring collector demand.
(Value: $40–$150+) - 1920 Wheat Penny (Weak Strike)
A weak strike error makes this early penny highly desirable.
(Value: $25–$100+) - 1951-D Wheat Penny with Die Rotations
This error adds uniqueness to an otherwise common coin.
(Value: $20–$75+) - 1952 Wheat Penny with Die Chips
Die chips on this coin enhance its value for collectors.
(Value: $15–$50+) - 1953-D Wheat Penny with RPM
A later wheat penny with repunched mintmark varieties that collectors love.
(Value: $20–$75+) - 1955-D Wheat Penny with RPM
Repunched mintmark errors make this late-series penny collectible.
(Value: $20–$60+) - 1954-S Wheat Penny with RPM
The repunched mintmark error adds a layer of value to this mid-century coin.
(Value: $20–$60+) - 1949-S Wheat Penny with RPM
Repunched mintmark varieties on this coin add unique value to an otherwise common issue.
(Value: $30–$120+) - 1950-S Wheat Penny with Die Cracks
Die cracks elevate the collectibility of this mid-century coin.
(Value: $15–$50+) - 1934 Double Die Reverse Wheat Penny
Doubling on the reverse design makes this a standout piece.
(Value: $75–$300+) - 1941 Double Die Obverse Wheat Penny
Doubling on the obverse inscriptions makes this coin a collector’s favorite.
(Value: $100–$500+) - 1939 Double Die Reverse Wheat Penny
Doubling on the reverse design elements makes this a standout collector’s piece.
(Value: $75–$250+) - 1935 Double Die Obverse Wheat Penny
This subtle error adds value and intrigue to an otherwise common year.
(Value: $50–$250+) - 1936 Double Die Obverse Wheat Penny
Subtle but collectible doubling on the obverse design makes this coin desirable.
(Value: $75–$200+) - 1929-S Wheat Penny
A low-mintage coin that remains in demand among collectors.
(Value: $25–$100+) - 1940-P Wheat Penny with Die Cracks
Visible die cracks enhance the collectibility of this pre-war penny.
(Value: $20–$75+) - 1947-D Wheat Penny with RPM
The repunched mintmark error adds to the appeal of this post-war coin.
(Value: $20–$60+) - 1948-S Wheat Penny with Die Rotations
This rotated die error makes the post-war penny a desirable piece.
(Value: $20–$75+) - 1951-S Wheat Penny with Die Cracks
Die cracks elevate the collectibility of this mid-century coin.
(Value: $15–$50+) - 1952-D Wheat Penny with Die Rotations
Rotated die errors make this a unique and valuable coin.
(Value: $30–$150+) - 1945-D Wheat Penny with RPM
Repunched mintmark varieties make this coin a standout for collectors.
(Value: $20–$60+) - 1923-S Wheat Penny
A low-mintage coin from the San Francisco Mint, sought after for its scarcity.
(Value: $50–$300+) - 1928-D Wheat Penny
A Denver-minted coin with relatively low production, sought after by numismatists.
(Value: $30–$120+) - 1943-D Steel Wheat Penny
This wartime penny with unique features appeals to numismatists.
(Value: $10–$50+) - 1919 Wheat Penny with Die Cracks
Die crack errors make this early wheat penny a collectible standout.
(Value: $20–$75+) - 1957-D Wheat Penny with Die Cracks
This late-series wheat penny features unique die cracks that increase its value.
(Value: $15–$50+) - 1920-S Wheat Penny
This early San Francisco mint coin remains popular due to its relative scarcity.
(Value: $30–$150+) - 1921-S Wheat Penny
A rare coin from a year with lower overall production.
(Value: $60–$300+) - 1933-D Wheat Penny
A scarce coin produced during the Great Depression, sought after by numismatists.
(Value: $50–$200+) - 1930-S Wheat Penny
This San Francisco-minted coin is sought after for its relative scarcity.
(Value: $35–$150+) - 1913-S Wheat Penny
This semi-key date from the San Francisco Mint is highly sought after due to its low mintage.
(Value: $75–$300+) - 1910-S Wheat Penny
A semi-key date that appeals to collectors due to its low mintage.
(Value: $50–$200+) - 1943 Steel Wheat Penny with Errors
Unique errors, such as doubling or die cracks, elevate the value of these wartime coins.
(Value: $50–$100+) - 1917-S Wheat Penny
A San Francisco-minted coin with lower production numbers, prized by collectors.
(Value: $50–$200+) - 1914-S Wheat Penny
A lower-mintage coin from the San Francisco Mint, making it a must-have for collectors.
(Value: $50–$200+) - 1915-S Wheat Penny
With a mintage of just over 4.8 million, this coin is a semi-key date in the series.
(Value: $70–$350+) - 1932 Wheat Penny
A low-mintage coin from the Great Depression era, appealing to collectors.
(Value: $25–$75+) - 1956-D Wheat Penny with Die Cracks
Unique die crack patterns increase the value of these later wheat pennies.
(Value: $20–$75+) - 1912-S Wheat Penny
A key date with limited mintage, making it a valuable addition to collections.
(Value: $80–$400+) - 1958-P Wheat Penny with Die Chips
A late-series coin with die chip errors, enhancing its collectibility.
(Value: $15–$50+) - 1946-P Wheat Penny with Die Cracks
Die cracks give this post-war penny additional collector value.
(Value: $15–$50+) - 1939-S Wheat Penny
A lower mintage coin from the San Francisco Mint, often sought after by collectors.
(Value: $20–$75+) - 1942-S Wheat Penny with RPM
The repunched mintmark adds intrigue to this wartime penny.
(Value: $25–$75+) - 1947-D Wheat Penny with RPM
The repunched mintmark error adds to the appeal of this post-war coin.
(Value: $20–$60+) - 1929-D Wheat Penny
A semi-key date with moderate mintage from the Denver Mint.
(Value: $30–$100+)
Note on Values:
The estimated values for each Wheat Penny are based on current market trends, rarity, and coin grade. Actual prices may fluctuate due to factors such as collector demand, coin condition, and the selling platform. For the most precise valuation, consulting a professional appraiser or obtaining certification from a reputable grading service is highly recommended.
Are Wheat Pennies a Good Investment?
Wheat pennies aren't just historical artifacts—they are also a strong investment opportunity. High-grade, key date, and error varieties have continued to appreciate in value, making them an attractive option for long-term collectors and investors.
Investment Tips for Collecting Wheat Pennies:
- Start with Affordable Varieties – Begin with common wheat cents and work towards rare issues.
- Focus on Certified Coins – PCGS and NGC-graded wheat pennies ensure authenticity and protect long-term value.
- Diversify Your Collection – Include key dates, high-grade examples, and error coins for a well-rounded portfolio.
- Proper Storage – Store wheat pennies in coin holders, albums, or temperature-controlled environments to prevent damage.
Lincoln Wheat Pennies: A Legacy of Rarity and Collectibility
From rare error coins to key date treasures, Lincoln Wheat Pennies remain a cornerstone of U.S. numismatics, admired for their historical significance, scarcity, and investment potential. Their enduring appeal makes them a favorite among both casual collectors and seasoned numismatists.
For those looking to learn more about rare Wheat Pennies, error coins, and numismatic trends, NYC Bullion serves as a valuable resource for coin-related insights and historical information. Whether you're identifying key dates or exploring the evolving market for collectible pennies, staying informed is essential to building a knowledgeable and rewarding collection.
Explore another iconic U.S. Mint coin series:
The 25 Most Valuable Buffalo Nickels: A Collector’s Guide