Lincoln Wheat Penny Worth $5.55 Million: A Look at America’s Legendary Coins
The Lincoln Wheat Penny is a well-known piece of American history. Minted between 1909 and 1958, these small copper coins featuring Abraham Lincoln’s face are more than just money—they are valuable collectibles. Most of these pennies are worth only their face value, but certain rare ones can sell for hundreds of thousands or even millions of dollars. This means you might be sitting on a small fortune without even realizing it!
The Wartime Wonder
The 1943 copper penny is one of the most famous Lincoln Wheat Pennies. During World War II, copper was in short supply, so the U.S. Mint switched to making steel pennies instead. However, a few copper blanks (the metal discs used to make coins) from the previous year accidentally ended up in the press, and a small number of copper pennies were minted by mistake.
These rare copper pennies are now worth a lot of money. In 2010, one sold for $1.7 million, making it the most expensive Lincoln cent ever sold. Experts believe fewer than 40 of these copper pennies are still around, which makes them some of the most coveted coins among collectors.
Double Vision
Another valuable Lincoln Wheat Penny is the 1955 doubled die penny. This mistake happened during a night shift at the Philadelphia Mint, when the die that strikes the coins was misaligned. As a result, the coins show doubled images of the date, the word “LIBERTY,” and the motto “IN GOD WE TRUST.”
Only about 20,000 to 24,000 of these error coins were made before the issue was fixed. Despite the small number, some of these pennies are still found in collections or even in circulation today. Well-kept examples can sell for over $200,000 at auction. The doubling effect is so clear that it’s easy to spot even with the naked eye.
Designer’s Mark
In 1909, the first year the Lincoln Wheat Penny was minted, the designer Victor David Brenner put his initials, “VDB,” on the back of the coin. Some people didn’t like how big the initials were, so the Mint stopped using them after a short time. Only about 484,000 pennies with the “VDB” initials were made before they were removed from the design.
Today, the 1909-S VDB penny is highly prized by collectors, and well-preserved ones can sell for $50,000 or more. This penny is valuable not only because it’s rare but also because of the controversy surrounding its design.
Other Valuable Wheat Pennies
Aside from the three big rarities, there are other Lincoln Wheat Pennies worth searching for. For example, the 1914-D penny, made at the Denver Mint, has a low mintage of just over 1 million coins, making it a key piece in the series. The 1922 “no D” penny, created when a worn die failed to add the Denver mint mark, is also highly collectible.
Other dates to watch out for include the 1931-S, which has only 866,000 coins, and high-grade versions of the 1909-S (without the VDB). Even common pennies in excellent condition can be valuable, especially if they show attractive toning or have their original mint luster.
How to Spot a Valuable Penny
To find a valuable Lincoln Wheat Penny, pay attention to the date and mint mark. The mint mark is located on the front of the coin, just below the date. Key dates like 1909-S, 1914-D, 1922 “no D,” and 1931-S should be examined carefully.
To identify a 1943 copper penny, you can use a magnet test. The regular steel pennies from 1943 will stick to a magnet, while copper pennies will not. For doubled die errors like the 1955 penny, use a magnifying glass to check for signs of doubling in the lettering. The condition of the coin also matters, so handle any potentially valuable pennies gently, and consider getting them professionally graded if you think they may be worth a lot.
The Future of Lincoln Wheat Pennies
As the U.S. debates the future of the penny, with costs to produce them exceeding their value, Lincoln Wheat Pennies may become even more valuable. Some proposals, like the Common Cents Act, suggest stopping penny production, which could make existing Wheat Pennies rarer and more valuable.
This uncertainty about the penny’s future has sparked renewed interest in collecting them. These coins are not just valuable for their monetary worth, but also because they are pieces of American history, reflecting a time when pennies were essential to everyday life.
FAQs
How do I know if my Lincoln Wheat Penny is valuable?
Look for rare dates like 1909-S, 1914-D, 1922 “no D,” or 1943 copper pennies. You can also check for minting errors, like the doubled die on the 1955 penny. The condition of the coin is also important.
How can I test if I have a 1943 copper penny?
Use a magnet! Regular 1943 steel pennies will stick to a magnet, but copper pennies will not.
What’s the most valuable Lincoln Wheat Penny?
The 1943 copper penny is the most expensive, with one selling for $1.7 million in 2010.
What should I do if I find a rare Lincoln Wheat Penny?
If you find a potentially valuable penny, consider getting it professionally graded to confirm its authenticity and value.