Think your pocket change is just that—change? Think again. Some Lincoln Wheat Pennies, particularly the rare 1909-S VDB variety, have fetched staggering amounts at auctions, with one selling for $168,000. These coins are more than just currency; they’re pieces of American history that could be hiding in your spare change.
The Legacy of the Lincoln Wheat Penny
Introduced in 1909 to commemorate Abraham Lincoln’s 100th birthday, the Lincoln Wheat Penny was the first U.S. coin to feature a real person. Designed by Victor David Brenner, it showcases Lincoln’s profile on the obverse and two wheat stalks on the reverse, symbolizing America’s agricultural roots. This design remained in circulation until 1958, making it a staple in American pockets for nearly half a century.
What Makes the 1909-S VDB Penny So Valuable?
The 1909-S VDB Lincoln Wheat Penny is considered the “Holy Grail” of coin collecting. Only 484,000 were minted at the San Francisco Mint, and the initials “VDB” were removed shortly after production due to public outcry over the prominence of the designer’s initials. This combination of rarity and controversy has made it one of the most sought-after coins in American numismatics.
In April 2022, a 1909-S VDB penny graded MS67RD (Mint State 67 Red) sold for an astounding $168,000, setting a record for this variety. Even coins in less pristine condition can command impressive prices, with values ranging from $4,500 to $110,000 depending on their grade and condition.
Other Noteworthy Lincoln Wheat Pennies
While the 1909-S VDB is the crown jewel, several other Lincoln Wheat Pennies have also achieved remarkable values:
- 1943 Copper Penny: Due to wartime metal shortages, pennies were minted from steel. However, a few copper planchets from 1942 were accidentally used in 1943, resulting in a copper penny. Only about 20 are known to exist, with one selling for $1.7 million in 2010.
- 1943-D Bronze Penny: Similar to the 1943 copper penny, this coin was mistakenly struck on a bronze planchet instead of steel. Only a few are known, and one sold for $840,000.
- 1955 Double Die Penny: This error coin features a noticeable doubling of the date and lettering. While not as rare as the 1943 copper pennies, well-preserved examples can still fetch tens of thousands of dollars.
How to Identify a Valuable Lincoln Wheat Penny
Not all Lincoln Wheat Pennies are worth a fortune, but some are. Here’s how to spot the valuable ones:
- Check the Date and Mint Mark: Look for the year and mint mark below the date. The 1909-S VDB is particularly valuable.
- Examine the Condition: Coins in better condition (higher grades) are worth more. The Sheldon Scale, ranging from 1 to 70, is used to grade coins.
- Look for Mint Errors: Coins with errors, such as double dies or incorrect planchets, can be highly valuable.
Preserving and Valuing Your Coin
If you believe you have a rare Lincoln Wheat Penny, it’s essential to preserve its condition:
- Handle with Care: Use gloves to avoid transferring oils from your fingers to the coin.
- Store Properly: Place the coin in a protective holder or capsule to prevent damage.
- Get It Graded: Professional grading services can assess the coin’s authenticity and condition, which is crucial for determining its value.
Final Thoughts
While finding a Lincoln Wheat Penny worth millions is rare, it’s not impossible. The 1909-S VDB and other error coins are among the most valuable in American coinage. So, the next time you sift through your spare change, take a moment to examine those pennies—you might be holding a piece of history worth a small fortune.