The Lincoln Wheat Penny, also known as the Wheat Cent, first appeared in 1909 to celebrate Abraham Lincoln’s 100th birthday. It became special because it was the first U.S. coin to feature a real person’s face, replacing earlier designs like the Indian Head penny.
Design and Minting Details
This famous penny was designed by Victor David Brenner.
| Feature | Description |
|---|---|
| Front (Obverse) | Shows Abraham Lincoln facing right with the words “IN GOD WE TRUST” above, “LIBERTY” on the left, and the year below. |
| Mint Marks | A small “D” means it was made in Denver, “S” means San Francisco, and no mark means Philadelphia. |
| Back (Reverse) | Two wheat stalks frame the words “ONE CENT” and “UNITED STATES OF AMERICA,” giving it the name Wheat Penny. |
Most Wheat Pennies were 95% copper, but during World War II (1943), the U.S. Mint switched to steel to save copper for the war. However, a few rare copper pennies from 1943 were made by mistake — and these are now worth a fortune.
Why Some Wheat Pennies Are Worth Millions
Most Wheat Pennies are only worth a cent, but a few rare ones can be worth thousands or even millions. Their value depends on rarity, condition, and minting mistakes.
Professional grading services like PCGS and NGC rate coins from 1 (poor) to 70 (perfect), and coins with higher grades can bring record-breaking prices.
Key Factors That Make a Penny Valuable
| Factor | Description |
|---|---|
| Low Mintage | Coins made in smaller numbers, like the 1943 Bronze Penny, are rare and valuable. |
| Mint Errors | Mistakes like doubled letters or wrong metals create one-of-a-kind coins. |
| Condition | Clean, shiny “Red (RD)” coins are worth more than dull or brown (BN) ones. |
| Collector Demand | Coins with historic importance or auction buzz often rise in value. |
The $10 Million Penny Story — Truth or Fiction?
You might have seen stories online saying someone found a 1914-D Wheat Penny in grocery change and sold it for $10 million. Sadly, there’s no real record of such a sale.
The real champion is the 1943-D Bronze Penny, a mistake coin made from copper instead of steel. It was sold for $1.7 million in 2010 and is now estimated to be worth around $2.3 million.
Only one is known to exist, discovered decades ago by a schoolboy. It’s graded MS-52 BN, making it one of the most valuable coins in U.S. history.
Other Rare Wheat Pennies Worth Searching For
| Variety | Mint Mark | Special Trait | Estimated High Value |
|---|---|---|---|
| 1909-S VDB | S | Designer’s initials controversy | $168,000 |
| 1914-D | D | Very low mintage | $158,000 |
| 1922 No D | None | Missing mint mark error | $40,000 |
| 1931-S | S | Scarce during Depression | $48,000 |
| 1943-D Bronze | D | Copper error during WWII | $2.3 million |
| 1955 Doubled Die | None | Blurry doubled letters | $114,000 |
These coins mix history, rarity, and collector passion, making them valuable treasures.
How to Find Valuable Wheat Pennies in Circulation
Even today, Wheat Pennies appear in spare change, coin rolls, or old piggy banks. Here’s what to check:
- Dates to Watch: 1909–1919, 1922, 1931, 1943, 1955
- Mint Marks: Look for “S” (San Francisco) or “D” (Denver) on rare years
- Errors: Doubled text, missing marks, or 1943 bronze coins
- Condition: Clear details and bright color add value
- Weight: Copper pennies = 3.1 grams, Steel pennies = 2.7 grams
Tip: You can buy penny rolls from banks for 50 cents each and check for hidden treasures.
Tips for New Collectors and Sellers
- Handle carefully: Use gloves to prevent smudges.
- Never clean a coin: Cleaning lowers its value.
- Get coins graded: PCGS or NGC can raise your selling price by up to 50%.
- Sell smart: Use coin shops for quick sales or auction sites like Heritage for rare finds.
- Join collector groups: Communities on Reddit’s r/coins or CoinTalk can help identify fakes and share updates.
Conclusion
The viral $10 million penny story may be fake, but real treasures like the 1943-D Bronze Wheat Penny prove that history can hide in your pocket change. These small coins carry stories from the Great Depression, World War II, and America’s past — and they can still change lives today.
So next time you get change from the store, take a closer look. Your one cent might just be worth a million dollars someday!
FAQs
What is the rarest Lincoln Wheat Penny?
The 1943-D Bronze Penny is the rarest and can be worth over $2 million.
How can I check if my penny is valuable?
Look for rare years, mint marks, and errors. You can also use apps like CoinSnap or get it graded.
Is the $10 million penny story true?
No, it’s just a myth. The highest confirmed sale is around $1.7 million.
What makes the 1909-S VDB penny special?
It was pulled from circulation early because of the designer’s initials, making it rare and valuable.
Should I clean my old pennies before selling them?
Never clean coins. It damages the surface and lowers their value.