Have you ever checked your pocket change and wondered if a penny could be worth more than one cent? The Lincoln Wheat Penny, minted from 1909 to 1958, is a collector’s favorite, and some rare varieties could fetch up to $1,000 or more—even if they’re still floating around in circulation! Let’s dive into seven rare Wheat Pennies that could turn your spare change into a small fortune, with tips on how to spot them and why they’re so valuable.
Why Are Lincoln Wheat Pennies So Special?
The Lincoln Wheat Penny, designed by Victor David Brenner, was the first U.S. coin to feature a president’s portrait, honoring Abraham Lincoln’s 100th birthday. Its reverse, with two wheat stalks, symbolizes America’s agricultural roots. While most Wheat Pennies are worth just a few cents, specific errors, low mintages, and historical quirks make certain ones highly sought-after. According to the Professional Coin Grading Service (PCGS), some of these coins have sold for thousands at auction, proving that pocket change can hold hidden treasures.
7 Rare Lincoln Wheat Pennies to Look For
Here are seven rare Lincoln Wheat Pennies that could still be in circulation, each with unique features and values up to $1,000 or more, based on condition and rarity.
1. 1909-S VDB Lincoln Penny
Value: Up to $1,000+
In 1909, the San Francisco Mint struck only 484,000 pennies with Brenner’s “VDB” initials on the reverse. Public outcry over the prominent initials led to their removal, making these coins rare. My friend’s uncle once found one in a coin roll from a local bank—imagine his shock when it appraised for $800! Check for the “S” mint mark and “VDB” on the reverse.
2. 1914-D Lincoln Penny
Value: Up to $900
With just 1.2 million minted, the 1914-D is a key date in the Wheat Penny series. Its low mintage and high demand drive its value. Look for the “D” mint mark under the date. A collector in 2018 sold a circulated 1914-D for $600, per Heritage Auctions, showing these coins still surface.
3. 1922 No “D” Lincoln Penny
Value: Up to $1,000
In 1922, the Denver Mint was the only facility striking pennies, so all should have a “D” mint mark. However, die wear caused some to lack the mark, creating a rare error coin. These can fetch $500–$1,000 in good condition. Use a magnifying glass to confirm the missing “D.”
4. 1931-S Lincoln Penny
Value: Up to $800
The 1931-S had a mintage of just 866,000, one of the lowest in the series. During the Great Depression, fewer pennies were minted, increasing their rarity. A well-preserved 1931-S sold for $700 in 2020, per PCGS. Check for the “S” mint mark and vibrant red color for top value.
5. 1955 Doubled Die Obverse Penny
Value: Up to $1,000
This famous error coin shows dramatic doubling on the date and “LIBERTY.” About 20,000–24,000 were released into circulation, making it a collector’s gem. Even in circulated condition, it can sell for $800+. My cousin spotted one in a coin shop for $200—wish he’d bought it!
6. 1943 Bronze Wheat Penny
Value: Up to $1,000+
In 1943, pennies were made of steel to save copper for WWII, but a few bronze planchets were mistakenly used. Fewer than 20 exist, and while most are in collections, some could still be out there. Test with a magnet: bronze won’t stick. One sold for $870,000 in 2019, per Heritage Auctions.
7. 1944 Steel Wheat Penny
Value: Up to $900
The reverse of the 1943 error, some 1944 pennies were struck on leftover steel planchets. Only about 30 are known, and they can fetch $500–$900. A magnet will attract this steel penny, unlike the standard copper ones. A 1944-S steel penny sold for $408,000 in 2021, per PCGS.
How to Identify Valuable Wheat Pennies
To spot these treasures, grab a magnifying glass and check:
- Date and Mint Mark: Look for “S” or “D” under the year.
- Errors: Doubling, missing mint marks, or unusual metal (use a magnet for 1943/1944 pennies).
- Condition: Coins in mint or near-mint condition fetch higher prices. Avoid cleaning, as it reduces value.
- Weight: Bronze pennies weigh 3.11 grams; steel ones are 2.7 grams.
Always authenticate finds with PCGS or NGC to confirm rarity and value. A local coin dealer once told me, “A penny’s story—its errors, its history—makes it priceless.”
Where to Find These Rare Pennies
Rare Wheat Pennies can turn up in:
- Pocket Change: People unknowingly spend valuable coins.
- Coin Rolls: Banks sell rolls of pennies—perfect for hunting.
- Old Collections: Check grandma’s coin jar or estate sales.
- Flea Markets: Vendors may not know a coin’s true value.
In 2019, a Massachusetts teen found a 1943 bronze penny in his lunch change, later valued at $204,000, proving these coins are still out there.
Why Collectors Love Wheat Pennies
Beyond their value, Wheat Pennies connect us to history. They circulated during the Great Depression, WWII, and the post-war boom, carrying stories of everyday Americans. Numismatist David Stone notes, “Each Wheat Penny is a snapshot of its era, from wartime sacrifices to minting mishaps.”
Start Your Coin Hunt Today
Next time you get change, take a second to check those pennies. A rare Lincoln Wheat Penny could be hiding in plain sight, worth up to $1,000 or more. With a bit of luck and a keen eye, you might uncover a piece of history—and a nice payday. Have you found any Wheat Pennies in your change? Share your story below, and happy hunting!
Sources: Professional Coin Grading Service (PCGS), Heritage Auctions, Numismatic Guaranty Corporation (NGC).