The Lincoln Wheat Penny, also called the Wheat Cent, first appeared in 1909 to honor Abraham Lincoln’s 100th birthday. It was special because it was the first U.S. coin to feature a real person’s face, replacing older designs like the Indian Head penny.
Design and Minting Details
The coin was designed by Victor David Brenner. On the front, it shows Lincoln’s face facing right with “IN GOD WE TRUST” above, “LIBERTY” on the left, and the year below. A small “D” or “S” mark under the year shows it was made in Denver or San Francisco, while no mark means Philadelphia mint.
On the back, two wheat stalks surround the words “ONE CENT” and “UNITED STATES OF AMERICA.” That’s how it got the name Wheat Penny.
Most Wheat Pennies were made of 95% copper, but during World War II (1943), the U.S. used steel instead to save copper for the war. However, a few copper coins accidentally got made that year — and those are worth a fortune today!
What Makes a Wheat Penny Worth Thousands?
Most Wheat Pennies are worth only one cent, but some rare ones can reach $48,000 or more because of their scarcity, condition, or minting errors.
Professional coin graders like PCGS or NGC rate coins on a scale from 1 (worn out) to 70 (perfect condition). Coins with higher grades sell for big money.
Key Factors That Increase Value
| Factor | Description |
|---|---|
| Low Production Years | Coins from years with fewer mintages like 1931-S are very rare. |
| Minting Errors | Coins with mistakes such as double letters or wrong metals are valuable. |
| Condition and Color | Shiny red (RD) coins are worth more than brown (BN) ones. |
| Collector Demand | Coins tied to history or trending in auctions fetch higher prices. |
The Star Coin — The 1931-S Wheat Penny Worth $48,000
The 1931-S Lincoln Wheat Penny is one of the most sought-after coins, with top-grade versions selling for $48,000.
It was minted during the Great Depression in San Francisco, with only 866,000 coins made — very few compared to other years.
An MS-66 RD version with a bright copper color and sharp wheat details reached that price at auction. You might still find one in old coin collections or inherited jars.
Other Rare Wheat Pennies to Watch For
| Year & Variety | Special Feature | Mint Mark | Estimated Value Range |
|---|---|---|---|
| 1909-S VDB | Designer’s initials controversy | S | $50,000 – $168,000 |
| 1914-D | Low production count | D | $75,000 – $158,000 |
| 1922 No D | Missing mint mark error | None | $10,000 – $40,000 |
| 1931-S | Depression-era scarcity | S | $5,000 – $48,000 |
| 1943 Bronze | Copper used instead of steel | Varies | $200,000 – $1.7M |
| 1955 Doubled Die | Double lettering on the front | None | $50,000 – $114,000 |
How to Find Valuable Wheat Pennies
You can still find Wheat Pennies in your loose change, old jars, or rolls from banks. Here’s how to check if yours is special:
- Check the Date: Focus on 1909–1919, 1922, 1931, 1943, and 1955.
- Look for Mint Marks: “S” or “D” with rare dates could mean value.
- Spot Errors: Doubling in letters or wrong metals are clues.
- Weigh It: Copper pennies weigh 3.1g, while 1943 steel ones weigh 2.7g.
- Inspect Condition: Brighter, sharper coins are more valuable.
You can use apps like CoinSnap for quick identification, but always get rare coins checked by professionals before selling.
Tips for New Coin Collectors
- Use Gloves: Keep oils off the coin’s surface.
- Avoid Cleaning: Cleaning can damage its natural shine and reduce value.
- Get It Graded: Certified grading by PCGS or NGC increases selling price.
- Sell Smart: Use eBay for common coins, and Heritage Auctions for rare ones.
- Join Communities: Groups like Reddit r/coins or CoinTalk share tips and spot fakes.
Patience and curiosity make coin collecting a fun and rewarding hobby.
Conclusion
The Lincoln Wheat Penny isn’t just an old coin — it’s a piece of American history that could be worth thousands of dollars. From the rare 1931-S Wheat Penny to the 1943 Bronze Error, these coins show that hidden treasures still exist in everyday change.
So next time you get pennies back at the store, don’t ignore them — one might be your $48,000 lucky find. Grab a magnifying glass and start searching today!
FAQs
What is the rarest Lincoln Wheat Penny?
The 1943 Bronze Penny is among the rarest and can sell for over $1 million.
Why was the Wheat Penny made of steel in 1943?
To save copper for World War II materials, the U.S. used steel for pennies.
How can I tell if my Wheat Penny is valuable?
Check the date, mint mark, metal type, and condition — rare years and mint errors are most valuable.
Should I clean my old Wheat Pennies?
No. Cleaning coins removes the original surface and lowers their value.
Where can I sell my rare Wheat Pennies?
You can sell them on eBay, Heritage Auctions, or through certified coin dealers after grading.