The Lincoln Wheat Penny, minted in the United States from 1909 to 1958, is a cherished coin among collectors.
While most of these pennies are valued at their face value of one cent, certain rare varieties can command prices up to $500,000. Remarkably, some of these valuable pennies are still in circulation today.
Understanding the Lincoln Wheat Penny
Introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny features a portrait of Lincoln on the obverse and two stalks of wheat on the reverse, symbolizing prosperity and unity. In 1959, the design was updated to feature the Lincoln Memorial.
Rare Varieties of the Lincoln Wheat Penny
Among the numerous Lincoln Wheat Pennies, three specific varieties are particularly rare and valuable:
1. 1943 Copper Wheat Penny
- Description: Due to a wartime shortage of copper, the U.S. Mint produced pennies from zinc-coated steel in 1943. However, a few copper planchets from 1942 were mistakenly used, resulting in the 1943 Copper Wheat Penny.
- Rarity: Approximately 30 known to exist.
- Value: One sold for over $500,000 at auction.
2. 1909-S VDB Penny
- Description: Minted in San Francisco, this penny features the designer’s initials, “VDB,” on the reverse. Due to public outcry over the prominence of the initials, the Mint removed them, making this variety scarce.
- Rarity: Only 484,000 produced.
- Value: Some have sold for over $300,000.
3. 1955 Double Die Penny
- Description: A minting error caused the date and lettering to appear doubled, resulting in a distinctive appearance.
- Rarity: Approximately 20,000 to 24,000 minted.
- Value: Well-preserved examples have sold for tens of thousands of dollars.
Identifying Valuable Lincoln Wheat Pennies
To determine if you have a valuable Lincoln Wheat Penny, consider the following:
- Examine the Date and Mint Mark: Look for the year and any mint marks (e.g., “S” for San Francisco) to identify rare varieties.
- Inspect for Minting Errors: Look for doubled dates or lettering, which indicate a double die error.
- Assess the Coin’s Condition: Coins in better condition (higher grades) are more valuable.
Notable Rare Lincoln Wheat Pennies
| Coin Type | Description | Rarity | Notable Sale Price |
|---|---|---|---|
| 1943 Copper Wheat Penny | Struck on a copper planchet by mistake during wartime. | Approximately 30 known | Over $500,000 |
| 1909-S VDB Penny | Features designer’s initials “VDB” on the reverse; removed due to public outcry. | Only 484,000 produced | Over $300,000 |
| 1955 Double Die Penny | Shows doubled date and lettering due to minting error. | Approximately 20,000 to 24,000 minted | Tens of thousands of dollars |
While most Lincoln Wheat Pennies are worth only their face value, certain rare varieties can be highly valuable. If you come across a 1943 Copper Wheat Penny, a 1909-S VDB Penny, or a 1955 Double Die Penny, you might be holding a coin worth a significant amount. Always consult with a professional coin dealer or numismatist to accurately assess the value of your coins.
FAQs
What makes a Lincoln Wheat Penny valuable?
Rarity, minting errors, and historical significance contribute to a Lincoln Wheat Penny’s value.
How can I identify a 1943 Copper Wheat Penny?
Look for a penny dated 1943 that is made of copper rather than the typical steel; this indicates a rare minting error.
Are 1909-S VDB Pennies still in circulation?
Due to their rarity, it’s highly unlikely to find a 1909-S VDB Penny in circulation today.