Lincoln Wheat Penny Worth $14 Million: When was the last time you really looked at that penny you’re about to drop into your jar or your car’s cup holder? Most of us only glance at them briefly. But what if such an unconcerned motion could be losing you money?
Some Lincoln Wheat Pennies have sold for upwards of $168,000, $840,000, and even some are said to be worth as much as $14 million. That penny you toss carelessly could be your key to financial freedom if you only knew it.
The Birth of an American Icon
The Lincoln Wheat Penny is more than spare change—it’s history you can hold in the palm of your hand. Minted by the U.S. government first in 1909 to celebrate the 100th anniversary of Abraham Lincoln’s birthday, the penny was revolutionary for U.S. currency.
The penny made history by becoming the first U.S. coin to bear the image of an actual individual, an innovation away from traditional symbolic images such as Lady Liberty that up to this point dominated U.S. currency.
This classic penny was designed by Victor David Brenner with Lincoln’s distinguished likeness on the obverse and two stalks of wheat encircling the words “ONE CENT” on the reverse.
The stalks of wheat represented America’s agricultural roots and prosperity. These unique pennies continued to be produced up to 1958, at which point they were replaced by the Lincoln Memorial penny with which we are more familiar now.
What’s so special about some pennies?
Most of the Lincoln Wheat Pennies you find are only worth face value or slightly higher, but some exceptionally rare ones have gone for prices that boggle the mind for a coin that’s only worth one cent.
So, why does the average penny become numismatic gold? The reasons rely on three aspects that create demand for it.
Rarity is the ultimate determining factor. The less there are of an individual penny available, the more money collectors are willing to spend. Condition is similarly significant—a penny that is virtually like-new after years or even decades will sell for much more than one heavily worn.
Lastly, errors made at the mint—miscalculations that occurred at the minting process—are able to turn an otherwise common coin into one-of-a-kind treasure that collectors eagerly chase after.
The 1909-S V
Of the Lincoln Wheat Pennies, the 1909-S VDB is one that has achieved legendary status. Only 484,000 were made at the San Francisco Mint, so it has been scarce from the start. The reason this coin is so noted is that the designer’s initials “VDB” (for Victor David Brenner) are boldly displayed on the back of the coin.
These initials caused public outcry at the time, prompting an expeditious removal—and, by doing so, creating one of the most highly desirable of American numismatic coins.
The limited mintage combined with historical importance has made it exceptionally valuable. A near-perfect specimen (professional coin service rated MS67RD) has sold for $168,000 over the past few years. That is quite a payoff on an investment of one cent! Even those that are less than pristine sell for thousands.
Wartime R
Maybe the rarest of all Lincoln Wheat Pennies are those made by accident. In World War II, copper was required for the war effort, so the U.S. Mint made pennies out of zinc-coated steel in 1943.
But a few bronze wayward planchets (the metal discs that get stamped into coins) made it into the presses, so there are some bronze 1943 pennies that aren’t even technically supposed to be.
These error pennies, which are so rare, have acquired legendary status among collectors. A 1943-D bronze penny, minted at Denver, brought a staggering $840,000 at auction, while one from the San Francisco mint (1943-S) brought $504,000.
Most thrilling is the rumored value of some 1943 copper pennies, with values placed at $1 million to $5 million for flawless specimens. Since so few are known to survive, discovering one would be like hitting the jackpot.
The Reverse Error
Upon the conclusion of the war, the Mint reassumed the bronze content for pennies in the year 1944. Although some bronze planchets made it through in 1943, some steel blanks still remained active the following year.
The 1944 steel pennies are immensely rare and highly valued by collectors. One such specimen sold for an incredible $408,000 at auction, proving the power that arises from an otherwise simple production mishap.
These penny errors from wartime remind us of an essential reality of collecting: the things of greatest value are sometimes those least intended to be there at the beginning. The production errors and lapses by humans produced distinguishing treasures that years afterward still entice collectors.
How to Tell if Your Change Has Hidden Treasure
Could you unknowingly have a valuable penny? Absolutely. Begin by searching your collection for any of the wheat pennies—look for the familiar reverse side wheat stalks image. If you have one, then give it closer inspection for some of the key details that might make it worth money.
First, make sure to check the date, and scan it for the presence of a mint mark underneath it. The letters “S” (San Francisco) or “D” (Denver) can have great bearing on value, particularly for some years. No mint mark indicates the coin has been made at Philadelphia.
Consider rare dates such as 1909-S, 1914-D, 1922 (no D), 1931-S, and, needless to say, the 1943 bronze and 1944 steel specimens. In the case of 1943 pennies, even a simple magnet test can be telling—steel pennies cling to magnets, but the rare bronze types do not.
Caring for Your Coins
If you suspect that you’ve discovered a valuable penny, correct handling and storage are important to help protect it. Never clean old coins—the patina is part of why collectors like collecting them, and cleaning them can actually diminish their value substantially. When you touch potentially valuable coins, use cotton gloves to prevent your finger oils from causing harm over the years.
Store your findings safely in coin holders specially made for coins. In case of potentially valuable specimens, you might have them professionally graded and guaranteed by an established service company like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation).
That is official confirmation of the coin’s state as well as authenticity, and it can really boost your coin’s market value. Psychology Although some of the Lincoln Wheat Pennies have indeed brought record-breaking prices as cited herein, the possibility of coming across really valuable examples happens to be relatively low. Values of coins change according to current market conditions, demand among collectors, and authenticity.
The contents of this article are for educational purposes only and must not be viewed as advice related to investments. In case you feel you have found an old coin, it is best to talk to an expert numismatist before you make any decisions as to its worth or sale. Never clean or tamper with suspected valuable coins because this significantly diminishes the value to collectors.
Half dollar 1776
Well I have a 1944 penny what is it worth.