The Lincoln Wheat Penny, minted from 1909 to 1958, is one of the most iconic and beloved coins among collectors and investors alike. While most of these pennies are common and worth only face value, a select few are considered rare Lincoln Wheat Pennies, commanding hundreds, thousands, or even over $1 million at auction.
In this guide, we’ll explore what makes a Lincoln Wheat Penny rare, list the top rare Lincoln Wheat Pennies to look out for, and share tips on how to identify, evaluate, and possibly profit from these valuable coins.
What Is a Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the Wheat Cent, was introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a president and was designed by Victor D. Brenner.
Key features include:
- Obverse (front): A portrait of Abraham Lincoln
- Reverse (back): Two stalks of wheat, hence the nickname “Wheat Penny”
- Composition: 95% copper, 5% tin and zinc (except during WWII steel years)
Minted from 1909 to 1958, the Wheat Penny was later replaced by the Lincoln Memorial cent in 1959.
What Makes a Lincoln Wheat Penny Rare?
Several factors contribute to the rarity and value of a Lincoln Wheat Penny:
- Mintage numbers: Lower mintage often means higher value
- Mint mark: Coins from certain mints (especially San Francisco and Denver) may be rarer
- Errors: Misstrikes, doubled dies, and off-center prints can make a penny exceptionally rare
- Condition: Pennies in uncirculated or high Mint State (MS) grades are significantly more valuable
- Historical significance: First-year coins, war-time issues, and design anomalies add to collector interest
Top 10 Rarest Lincoln Wheat Pennies
Here are some of the most valuable and rare Lincoln Wheat Pennies that collectors dream of finding:
1. 1909-S VDB
- Mintage: 484,000
- Value: $700–$10,000+
- This is the holy grail of Wheat Pennies. The initials “VDB” (for Victor D. Brenner) were removed after backlash, making this first-year San Francisco mint coin extremely rare.
2. 1914-D
- Mintage: 1,193,000
- Value: $200–$5,000+
- This Denver-minted penny is scarce in higher grades and highly sought after.
3. 1922 No D (Plain)
- Mintage: Unknown (error coin)
- Value: $500–$10,000+
- Due to a minting error at the Denver Mint, some 1922 pennies were struck with no visible “D” mint mark. Extremely rare in good condition.
4. 1931-S
- Mintage: 866,000
- Value: $80–$1,200+
- One of the lowest mintage Lincoln cents of the 1930s, prized for its scarcity.
5. 1943 Bronze (Copper) Penny
- Mintage: Estimated 20
- Value: $100,000–$1,000,000+
- In 1943, pennies were supposed to be made from steel due to wartime copper shortages. A few were accidentally struck in bronze and are now worth a fortune.
6. 1944 Steel Penny
- Mintage: Estimated 30
- Value: $75,000–$500,000+
- The reverse of the 1943 situation—some 1944 pennies were mistakenly made using leftover steel blanks. These are ultra-rare.
7. 1955 Doubled Die Obverse
- Mintage: Estimated 20,000
- Value: $1,000–$20,000+
- One of the most famous error coins in U.S. history. The doubling is visible in the date and inscriptions.
8. 1917 Doubled Die Obverse
- Mintage: Unknown (error coin)
- Value: $150–$5,000+
- Another doubled die variety that’s popular with collectors.
9. 1909-S (No VDB)
- Mintage: 1,825,000
- Value: $100–$1,500+
- Still rare and valuable, this coin lacks the controversial “VDB” initials.
10. 1946-S RPM (Repunched Mintmark)
- Mintage: Error coin
- Value: $50–$500+
- A smaller error, but still notable for collectors who focus on mintmark anomalies.
How to Identify Rare Lincoln Wheat Pennies
Here’s how you can check if you have a valuable Lincoln Wheat Penny:
- Check the date and mint mark
Look for key dates (like 1909-S, 1914-D, 1922 No D) and mint marks (D = Denver, S = San Francisco). - Examine with a magnifying glass
Look for doubling, repunched mint marks, or any unusual features. - Weigh the coin
A regular copper penny weighs about 3.11 grams. A steel penny weighs 2.7 grams. Any discrepancies could signal an error. - Compare to known varieties
Use trusted resources like the PCGS price guide, NGC, or Lincoln Wheat Penny reference books. - Get your penny professionally graded
Grading by services like PCGS or NGC can significantly boost your coin’s resale value.
Where to Find Rare Lincoln Wheat Pennies
You can still find rare Lincoln Wheat Pennies in:
- Old coin jars or piggy banks
- Estate sales and garage sales
- Flea markets and antique shops
- Roll hunting from bank rolls
- Online auctions (eBay, Heritage Auctions, etc.)
- Local coin shops or coin shows
If you stumble across an old penny, especially one from before 1959, don’t spend it—check it first!
Should You Invest in Rare Lincoln Wheat Pennies?
While collecting coins can be a fun hobby, it’s also a tangible investment. Rare Lincoln Wheat Pennies have historically appreciated in value, especially in high grades. Some key points to consider:
- Low risk, high upside: A penny that cost you a cent could be worth thousands
- Demand is steady: Coin collecting is popular across generations
- Historical significance: These coins tell the story of American history and design
However, like any investment, always do your research, buy from reputable dealers, and avoid cleaning coins (as it can lower their value).
Final Thoughts: Start Your Lincoln Wheat Penny Journey Today
The rare Lincoln Wheat Penny is a cornerstone of American numismatics. Whether you’re just starting out or have been collecting for years, these coins offer an exciting mix of history, rarity, and potential profit.
Keep an eye on your change, check your family’s coin jars, and don’t overlook those old copper coins—you could be holding a treasure worth thousands.
For more tips, guides, and up-to-date coin values, be sure to bookmark LincolnWheatPenny.com — your trusted source for everything Wheat Penny.