Think a penny isn’t worth much? Think again.
Wheat pennies, or Lincoln Wheat Cents, are some of the most collectible coins in American history. While most are worth just a bit more than face value, a few ultra-rare ones can fetch thousands—or even millions—of dollars at auction.
In fact, a handful of these elusive coins are believed to be worth up to $250 million collectively, and they could still be lurking in everyday circulation.
Let’s break down the six rarest wheat pennies, what makes them so valuable, how to spot one, and why these coins are at the heart of a modern treasure hunt.
What Are Wheat Pennies?
Wheat pennies were minted in the U.S. from 1909 to 1958, marking the first time a U.S. coin featured a real person—President Abraham Lincoln. The reverse side of these coins displays two wheat stalks, which is where they get their name.
While the vast majority of wheat pennies are common, there are a few extraordinary versions with minting errors, low production numbers, or unique historical value that collectors pay top dollar for.
1. 1909-S VDB Lincoln Cent
Estimated Value: Up to $150,000
The 1909-S VDB penny is one of the most iconic coins in U.S. numismatics.
- First year of Lincoln cent production
- Features the designer’s initials, “VDB,” prominently on the reverse
- Only 484,000 minted before backlash led to their removal
- Minted in San Francisco (“S” mintmark)
Still in circulation? Extremely unlikely, but a few may be tucked away in old rolls or forgotten collections.
2. 1943 Copper Wheat Penny
Estimated Value: $1 Million–$2 Million
This is arguably the most famous error coin in U.S. history.
- In 1943, pennies were supposed to be made from zinc-coated steel due to WWII copper shortages
- A few were mistakenly struck using copper planchets
- Fewer than 20 known specimens exist
- One sold privately for $1.7 million
Still in circulation? Possibly—one could be hiding in plain sight among steel cents.
3. 1914-D Lincoln Penny
Estimated Value: $30,000–$250,000
A scarce mintage and low survival rate make this penny highly desirable.
- Only 1.2 million minted in Denver (D mintmark)
- Often heavily worn or damaged, making high-grade versions extremely rare
Still in circulation? Yes—especially in lower grades that are hard to spot.
4. 1922 “No D” Lincoln Penn
Estimated Value: Up to $90,000
A striking error from the Denver Mint, which was the only mint producing cents in 1922.
- Some coins were struck with worn dies, leaving out the “D” mintmark entirely
- Real “No D” pennies are rare and heavily sought after by error collectors
Still in circulation? Possibly—many are mistaken for worn-out common cents.
5. 1955 Doubled Die Penny
Estimated Value: Up to $180,000
This is a legendary error coin known for its dramatic doubling.
- Noticeable doubling on the date and lettering
- Easily visible without magnification
- Highly prized by both novice and seasoned collectors
Still in circulation? Occasionally found in old coin jars or vintage rolls.
6. 1944 Steel Wheat Penny
Estimated Value: Up to $250,000
In 1944, the U.S. Mint returned to copper pennies, but a few steel blanks from 1943 were accidentally used.
- Less than 30 known examples
- Frequently misidentified as regular 1943 steel cents
- Always double-check the date and metal
Still in circulation? Very unlikely—but not impossible.
How to Identify a Rare Wheat Penny
Think you might have a valuable penny? Here’s how to check:
Look at the Date & Mintmark
Pay attention to coins from 1909, 1914, 1922, 1943, 1944, and 1955. Check for mintmarks “S” (San Francisco), “D” (Denver), or none (Philadelphia).
Check for Doubling
Double images, especially on dates and lettering, are signs of rare minting errors.
Weigh the Coin
Use a precise scale. Some errors are due to the wrong metal being used—affecting the weight.
Use a Coin Loupe
A magnifying glass or jeweler’s loupe helps spot fine details like missing mintmarks or tiny initials.
Where to Get a Wheat Penny Appraised
If you think you’ve struck copper gold:
- Visit a local coin dealer or numismatic shop
- Attend a coin show to meet professional appraisers
- Submit your coin to grading services like PCGS or NGC for certification and encapsulation
Why Are These Wheat Pennies So Valuable?
The value of these coins is driven by:
- Extreme rarity
- Minting mistakes
- Historic value
- High demand among collectors and investors
Some stories of rare wheat pennies may sound like myths—but many are backed by documented sales and verified specimens.
Final Thoughts: Could One Be Hiding in Your Change?
Rare wheat pennies valued at hundreds of thousands—or even millions of dollars—aren’t just the stuff of legend. These coins exist, and some may still be circulating quietly among everyday change or tucked into family coin jars.
There’s no harm in looking. Check your piggy bank, dig through that old coffee can, or ask your grandparents about their coin stash. You never know—you might be holding a life-changing piece of numismatic history.
FAQs
Q: What’s the most valuable wheat penny ever sold?
A: The 1943 copper wheat penny, which has sold for over $1.7 million in private auctions.
Q: How much are all six rare wheat pennies worth combined?
A: Collectively, these coins are valued at up to $250 million, based on rarity and collector demand.
Q: What does a 1909-S VDB penny look like?
A: It features the initials “VDB” at the bottom rim on the reverse, with a small “S” mintmark below the date.
Start hunting today—your penny jar could hold a fortune
Let me know if you’d like a printable checklist for spotting rare wheat pennies or a shareable infographic for social media!