The Lincoln Wheat Penny Worth $120,000 Still In Circulation

The Lincoln Wheat Penny, minted from 1909 to 1958, remains a significant piece of American numismatic history.

While most of these pennies are common, certain rare variants have fetched impressive sums at auctions, with some valued up to $120,000. Amazingly, a few of these valuable coins might still be hiding in your pocket change.

The Legacy of the Lincoln Wheat Penny

Introduced in 1909 to commemorate President Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny was designed by Victor David Brenner.

This coin was groundbreaking, featuring Lincoln’s profile on the obverse and two wheat stalks on the reverse, symbolizing prosperity and unity. It was the first U.S. coin to depict a real person, replacing the previous Indian Head cent.

The 1917 Doubled Die Penny: A Collector’s Gem

Among the most coveted Lincoln Wheat Pennies is the 1917 Doubled Die Obverse. This coin features a noticeable doubling effect on the date and inscriptions, particularly “IN GOD WE TRUST.” This minting error has made it highly desirable among collectors.

Why Is the 1917 Doubled Die Penny So Valuable?

• Minting Error: The doubling effect resulted from a misalignment during the minting process, creating a distinct and rare variety.
• Limited Quantity: While the exact number is unknown, relatively few of these error coins were produced, increasing their scarcity.
• Collector Demand: The unique appearance and rarity drive high demand and value among numismatists.

Record-Breaking Sales

The allure of the 1917 Doubled Die Penny has led to remarkable auction results. In 2019, a specimen graded MS67+RD (Mint State 67+ Red) sold for an astounding $120,000. This sale underscores the immense value these pennies can hold, especially in superior condition.

Identifying a 1917 Doubled Die Penny

If you suspect you have a 1917 Doubled Die Penny, consider the following steps to verify its authenticity:

1. Visual Inspection: Look for a clear doubling effect on the date and the inscription “IN GOD WE TRUST.”
2. Magnification: Using a magnifying glass can help identify the doubling more clearly, as it may be subtle on worn coins.
3. Professional Appraisal: Due to the prevalence of counterfeits, it’s essential to have the coin authenticated by a reputable grading service or numismatic expert.

Other Valuable Lincoln Wheat Pennies

While the 1917 Doubled Die Penny is notable, other Lincoln Wheat Pennies are also highly sought after:

Year	Mint Mark	Distinctive Feature	Approximate Value
1909-S VDB	S (San Francisco)	Features designer’s initials “VDB” on the reverse; limited mintage of 484,000.	Up to $168,000
1914-D	D (Denver)	Low mintage of 1,193,000; frequently counterfeited.	Up to $158,625
1955 Doubled Die	None	Prominent doubling of the date and inscriptions on the obverse.	Up to $114,000
1944 Steel Cent	None	Struck on steel planchets intended for 1943; extremely rare.	Up to $180,000

Values are approximate and can vary based on coin condition and market demand.

The Thrill of Discovery: Could You Have One?

The possibility of finding a rare Lincoln Wheat Penny adds excitement to everyday transactions. These coins can occasionally surface in pocket change, coin rolls from banks, or old collections tucked away in attics. Regularly inspecting your pennies could potentially lead to a valuable discovery.

The story of the Lincoln Wheat Penny exemplifies how a commonplace item can transform into a treasured artifact due to historical events and minting anomalies.

With some of these rare pennies still possibly in circulation, a simple glance at your loose change could unveil a piece of numismatic history worth up to $120,000.

FAQs

How can I identify a 1917 Doubled Die Penny?

Look for a clear doubling effect on the date and the inscription “IN GOD WE TRUST.” Using a magnifying glass can aid in spotting this feature.

Are all 1917 pennies with doubling valuable?

Genuine 1917 Doubled Die Pennies are valuable, but due to counterfeits, it’s crucial to have the coin authenticated by a professional grading service.

What should I do if I find a suspected 1917 Doubled Die Penny?

If you believe you’ve found a 1917 Doubled Die Penny, it’s essential to have it authenticated by a reputable coin grading service or numismatic expert to confirm its authenticity and determine its value.