You might just be looking at a handful of change in your wallet when you find that you own a penny that is worth an astounding $17 million. Well, it is not a dream; there are quite rare Lincoln Wheat pennies that indeed have fantastic values for actual collectors.
Learn how to recognize these prized coins and check whether you have one such treasure in your possession.
History of the Lincoln Wheat Penny
The Lincoln Wheat Penny was first minted in 1909 to commemorate the 100-year anniversary of Abraham Lincoln’s birth. Modeled by Victor David Brenner, the obverse of the penny shows the profile of Lincoln.
Two wheat stalks encircle the denomination on the reverse. Production continued until 1958, which makes these pennies very collectible due to their historical context and rarity.
Why Are Value for Some Lincoln Wheat Pennies?
The value of a penny can drastically be increased by several factors:
Minting Mistakes: Production errors like double dies, off-centered strikes, or wrong planchet.
Limited Production: The rarer coins get though usually limited production especially from particular mints.
Exceptional Condition: Pennies in uncirculated or mint condition, in great condition, enhance value greatly.
Metal Composition: Deviations from the standard allowance can prove to be anomalies worth a fortune.
Why Are Some Lincoln Wheat Pennies Valued?
A lot of things can elevate a coin’s value:
- Minting Errors: An error during production, considered a minting flaw, can include double dies, off-center strikes, and planchet misfits.
- Limited Production: Those coins minted in limited numbers, especially at selected mints, increase in rarity.
- Exceptional Condition: Pennies kept in pristine and uncirculated conditions are very valuable.
- Metal Composition: Depending on the irreverent deviations, it can lead to very valuable anomalies.
5 Most Valuable Lincoln Wheat Pennies
Here are five of the rarest and most valuable Lincoln Wheat Pennies, including unique features and values:
1943 Copper Lincoln Wheat Penny
Background: During the World War II period, pennies were minted in steel, with copper being reserved for military use. Although a handful of copper blanks had been inadvertently used.
Known Specimens: Only about 20 genuine specimens are known.
Value: One such rare penny was auctioned for a whopping $1.7 million.
1909-S VDB Lincoln Wheat Penny
Background: The initials of the designer Victor David Brenner (VDB) were famed for their presence on the penny and, through serious controversy, became a low-mintage coin.
Total Minted: About 484,000.
Value: Exceptional specimens can go above $100,000.
1955 Double Die Obverse Penny
Error Type: They inflicted strong and evident doubling of all inscriptions on the obverse from double stamping.
Known Quantity: Approximately 20,000-24,000 in circulation.
Value: High grade examples have approached $125,000+.
1914-D Lincoln Wheat Penny
Mint Rarity: At the Denver Mint, very few pennies were produced in 1914.
Total Minted: About 1.2 million.
Value: Mint conditions have reached as high as $160,000.
1922 No D Lincoln Wheat Penny
Minting Error: Due to the degeneration of dies, some Denver pennies of 1922 do not have the customary mint mark of “D.”
Known Specimens: Extremely limited.
Value: They can fetch anywhere from $10,000 to about $50,000, based on the condition.
| Year & Mint | Unique Feature | Approximate Value |
|---|---|---|
| 1943 Copper | Copper used instead of steel | Up to $1.7 million |
| 1909-S VDB | Initials “VDB” on reverse | Over $100,000 |
| 1955 Double Die | Doubling of letters & date | Up to $125,000 |
| 1914-D | Limited Denver production | Up to $160,000 |
| 1922 No D | Missing “D” mint mark | Up to $50,000 |
- Identifying a Penny that Holds Value – Check the Date and Mint Mark: Look for the particular years and mint marks indicated above.
- Inspect for errors: Use magnification to pick up any signs of double stamping or missing mint marks.
- Condition: High values are associated with coins that show little wear or damage.
- Professional grading: Think about having your coin graded and authenticated professionally.
Everyone dreams of finding a Lincoln Wheat Penny worth millions, but some people have actually found such coins by accident. Most times, checking one’s pocket change could reveal a penny that any foreigner would marvel at, turning it into a jackpot worth millions. Check your wallet right now; you may be carrying something quite valuable!
FAQS:
What are the ways I can determine if my penny is a rare copper penny of the year 1943?
Magnet test: a copper penny will not stick to a magnet while a steel penny would.
What gives the 1909-S VDB penny its value?
Its rarity is due to very few being minted resulting from the early controversy surrounding the large initials of the designer.
Are all pennies from 1955 value?
Far from it; only those few pennies that show a strong double die obverse error are considered valuable.