Lincoln Wheat Penny Value: Hidden Treasures in Your Pocket7 min read

The feeling of coming across a “breathtaking” 1943 Lincoln wheat penny, a piece which history has neither accurately valued nor given the lexicon it deserves, after rummaging through a nostalgic coin jar is something worth reminiscing.

You dismiss it as worthless—until a quick Google search reveals that some 1943 pennies, especially the rare Lincoln wheat cent, are worth over $1 million. This isn’t fiction; it’s the thrilling reality of Lincoln Wheat Pennies.

Minted from 1909 to 1958, these unassuming cents hide stories of wartime scarcity, artistic controversy, and accidental fortune. In this guide, we’ll decode the secrets of wheat penny value, spotlight rare dates like the 1909-S VDB and 1943 copper cent, and teach you how to turn pocket change into profit. Let’s dive in!

The Birth of Lincoln Wheat Pennies: A Coin for the Ages

Frankly, the US Mint was in a pickle. For the celebration of Lincoln turning a century old, there was a need to propagate the Indian head cent which was already outdated. Enter Victor David Brenner (VDB), a Lithuanian-American sculptor whose Lincoln portrait won over Treasury officials. The result? The first U.S. coin to feature a real historical figure—a radical move at the time.

Design Elements That Tell a Story

• Obverse (Heads): The design features Lincoln’s stoic profile, inspired by a 1907 plaque Brenner created for the Lincoln Cent. Lincoln’s stoic profile, inspired by a 1907 plaque Brenner created, is a defining feature of the Lincoln wheat cent. The phrase “IN GOD WE TRUST” arches above his head, while “LIBERTY” flanks the left side.
• Reverse (Tails): Two wheat stalks frame the words “ONE CENT” and “UNITED STATES OF AMERICA,” earning the coin its “wheat cent” nickname.
• Hidden Details: Brenner’s initials “VDB” appeared subtly at the base of the reverse on early 1909 coins. Public backlash over the “advertisement” forced the Mint to remove them mid-year, creating instant rarities.

Why the Wheat Penny Matters

The coin marked a shift toward celebrating American heroes on currency, setting the stage for later designs like the Lincoln Memorial cent (1959–2008). Its wheat stalks also symbolized the nation’s agricultural roots during the Progressive Era.

Key Dates That Define Wheat Penny Value

Not all wheat pennies are equal. Specific years, mint marks, and errors separate common cents from six-figure rarities. Let’s break down the most valuable ones:

A. 1909-S Vdb: A Scarcity Scandal

• History: Historically, minted in fire San Francisco under the “s” mint mark, only 484,000 are in existence to date and the public outrage for Brenner’s supervised initials led to the infamous withdrawal, making the 1909-S VDB a first-year centerpiece.
• Value Today:
  • Circulated (Good condition): 800–800–2,000
  • Uncirculated (MS-63 grade): 10,000–10,000–25,000
  • Auction Record: A pristine 1909-S VDB sold for $117,500 in 2022.

B. 1943 Copper Penny: The WWII Mistake

During the course of WW2, the US Mint conserved copper in ammunition, and shifted to zinc coated steel, thus coining the phrase, more pennies than sense. However, due to human error, a few copper planchets were being used in the punching of pennies.

• How to Spot One:
  • Use a magnet. Steel cents stick; copper ones don’t.
  • Weigh it: Copper pennies weigh 3.11 grams vs. steel’s 2.7 grams.
• Value: A 1943 copper-cent-graded MS-63 sold for $1.7 million in 2010.

C. 1958 Double Die Obverse: Lincoln’s Ghostly Twin

A misaligned die during minting caused letters and Lincoln’s profile to appear “doubled.”

• Identification Tips:
  • Look for doubling on “IN GOD WE TRUST” and Lincoln’s jawline.
  • Compare your coin to authenticated examples in the PCGS CoinFacts guide.
• Value Range: 1,500–1,500–25,000, depending on condition.

Wheat Penny Value by Year: What Makes a Cent Valuable?

Rarity, condition, and mint marks drive value. Here’s a detailed breakdown of the top dates:

Note: Values vary based on grading (e.g., PCGS or NGC certification).

Factors That Spike Value

• Mint Marks: Coins from San Francisco (“S”) or Denver (“D”) are often scarcer, particularly rare Lincoln wheat pennies.
• Errors: Double dies, off-center strikes, or repunched mint marks.
• Condition: A “Red” penny (full original luster) can be worth 10x for a worn “Brown” one.

Myth vs. Reality: Separating Wheat Penny Fact from Fiction

Myth 1: All 1943 pennies are steel and worthless.
Reality: A handful of 1943 copper cents exist—likely struck on leftover 1942 planchets. These are among the most valuable Lincoln pennies ever, with auction prices exceeding $1 million.

Myth 2: Pennies with “E Pluribus Unum” are dollar coins.
Reality: This phrase (meaning “Out of Many, One”) appears on most U.S. coins, including pennies. Don’t confuse it with the E Pluribus Unum dollar coin—a modern collectible.

Myth 3: Cleaning coins makes them shine and increases value.
Reality: Scrubbing removes the natural patina, slashing value by up to 90%. Never clean a coin unless instructed by a professional.

From Pocket Change to Fortune: How to Identify Valuable Wheat Pennies

Follow this step-by-step guide to hunt for hidden gems:

Step 1: Sort by Date: 1909-1958

• Focus on pre-1959 pennies with wheat stalks on the reverse.

Step 2: Check for Mint Marks

• Look for tiny letters below the year:
  • “S” = San Francisco (rare)
  • “D” = Denver (scarce)
  • No mark = Philadelphia (common)

Step 3: Spot Errors

• Double Dies: Misaligned strikes creating “shadow” text (e.g., 1955, 1972).
• Repunched Mint Marks (RPMs): Overlapping letters from multiple strikes.
• Off-Center Strikes: Misaligned designs (worth 50–50–500+).

Step 4: Grade Condition

• Uncirculated (MS): No wear, full luster.
• Extremely Fine (XF): Lincoln wheat cents in this condition are highly sought after by coin collectors. Light wear on high points.
• Good (G): Heavy wear but date/design visible.

Pro Tip: Always check for the 1909 V.D.B. mark on your Lincoln wheat pennies, as it significantly increases their value. Invest in a USB microscope (25–25–50) to inspect fine details like doubling or mint marks.

Preserving Your Lincoln Wheat Pennies: Tips for Collectors

Storage Solutions

• For Common Cents: Use cardboard coin albums (10–10–20) sorted by year.
• For Rare Coins: Opt for NGC/PCGS-certified slabs to prevent damage to your valuable Lincoln wheat penny collection.

Handling Don’ts

• Never touch the surface—oils from the skin cause corrosion.
• Avoid PVC plastic flips; they release chemicals that tarnish coins.

When to Sell

• Auctions: Heritage Auctions or Stack’s Bowers for high-value coins.
• Dealers: Get multiple appraisals to avoid lowball offers.

Conclusion

Lincoln Wheat Pennies are more than relics—they’re time capsules hiding in plain sight. Whether you’re holding a common 1958 cent or the legendary 1909-S VDB, each coin whispers stories of artistry, history, and serendipity. So grab a magnifier, raid your attic, and remember: the next penny you find could rewrite your financial future.

FAQs

1. What about the 1942 wheat penny?
Most 1942 cents are worth 3–15¢, but the 1942-S in mint state can fetch 50–50–200.

2. What does a 1958 double-die obverse look like?
Look for doubling on Lincoln’s jawline and the motto “IN GOD WE TRUST.”

3. Are wheat pennies still in circulation?
Yes! While rare, they occasionally appear in bank rolls or estate sales.

4. Which would be the rarest wheat penny?
The 1944-S steel cent (only 2 known) and 1943 copper cent (15–20 known) top the list.