The Lincoln Wheat Penny, minted from 1909 to 1958, has captivated collectors for decades. While most of these coins are common, certain rare variations have fetched astounding prices at auctions, with some reaching into the millions.
Understanding the history, key dates, and distinguishing features of these pennies can help you identify potential treasures in your collection.
History and Design
Introduced in 1909 to commemorate the 100th anniversary of President Abraham Lincoln’s birth, the Lincoln Wheat Penny was the first U.S. coin to feature a real person’s likeness.
Designed by Victor David Brenner, the obverse showcases a right-facing profile of Lincoln, while the reverse displays two wheat stalks encircling the inscriptions “One Cent” and “United States of America.”
This iconic design remained until 1958, after which the wheat stalks were replaced by the Lincoln Memorial.
Key Dates and Rare Varieties
Several Lincoln Wheat Pennies stand out due to their rarity and high value:
- 1909-S VDB: Featuring Brenner’s initials “VDB” on the reverse and minted in San Francisco, only 484,000 of these coins were produced, making them highly sought after.
- 1914-D: With a mintage of just over 1.1 million, the 1914-D penny from the Denver Mint is another rarity, especially in higher grades.
- 1943 Bronze: During World War II, pennies were primarily minted in steel to conserve copper. However, a few 1943 pennies were mistakenly struck in bronze (copper), making them exceptionally rare and valuable.
- 1955 Doubled Die: This error coin exhibits noticeable doubling in the date and lettering on the obverse, resulting from a misalignment during the minting process.
Identifying Rare Lincoln Wheat Pennies
To determine if you possess a valuable Lincoln Wheat Penny:
- Examine the Date and Mint Mark: Key dates like 1909-S, 1914-D, and 1943 are indicators of potential value. Mint marks (“S” for San Francisco, “D” for Denver) are located below the date on the obverse.
- Inspect for Errors: Look for anomalies such as doubled die obverses, off-center strikes, or unusual coloration that might indicate a minting error.
- Assess the Coin’s Condition: Coins in uncirculated or mint condition are more valuable. Features to evaluate include luster, the presence of contact marks, and overall eye appeal.
Notable Auction Sales
Certain Lincoln Wheat Pennies have achieved remarkable prices at auctions:
- 1943-D Bronze Cent: One of these rare coins sold for $1.7 million, highlighting its scarcity and desirability among collectors.
- 1955 Doubled Die: High-grade examples of this error coin have fetched upwards of $100,000.
Factors Influencing Value
Several elements affect the value of a Lincoln Wheat Penny:
- Rarity: Limited mintage numbers or unique errors increase a coin’s desirability.
- Condition: Coins graded as Mint State (MS) or with minimal wear command higher prices.
- Historical Significance: Coins marking significant events or design changes are often more valuable.
| Year | Mint Mark | Mintage | Notable Feature | Approximate Value Range |
|---|---|---|---|---|
| 1909 | S | 484,000 | VDB Initials | $700 – $2,000+ |
| 1914 | D | 1,193,000 | Low Mintage | $200 – $5,000+ |
| 1943 | None/S/D | Varies | Bronze Composition | Up to $1.7 million |
| 1955 | None | 24,000 estimated | Doubled Die Obverse | $1,000 – $100,000+ |
The Lincoln Wheat Penny serves as a fascinating piece of American numismatic history. While many are common, certain rare varieties can be extraordinarily valuable.
By familiarizing yourself with key dates, mint marks, and error types, you can better assess the potential worth of these coins in your collection.
FAQs
What makes a Lincoln Wheat Penny valuable?
Factors such as rarity, minting errors, limited mintage, and the coin’s condition contribute to its value.
How can I tell if my 1943 penny is valuable?
If your 1943 penny is made of bronze (copper) instead of the common steel, it could be highly valuable. A simple test with a magnet can help; steel pennies will stick to a magnet, while bronze ones will not.
Where is the mint mark located on a Lincoln Wheat Penny?
The mint mark, if present, is found below the date on the obverse side of the coin.