ave you ever wondered if that old penny sitting in your drawer could be worth a fortune? It might sound like a long shot, but certain Lincoln Wheat Pennies are worth more than gold—literally. In fact, some rare specimens have sold for as much as $960,000 at auction. These iconic coins, minted from 1909 to 1958, may seem common at first glance, but a closer look could reveal a hidden treasure.
In this guide, we’ll explore the history, key features, notable varieties, and valuation tips that can help you determine if your Lincoln Wheat Penny is worth a life-changing sum.
The Lincoln Wheat Penny Valued at $60 Million, Still in Circulation
What is the Lincoln Wheat Penny?
The Lincoln Wheat Penny, also known as the Wheat Cent, was introduced in 1909 to celebrate the 100th anniversary of Abraham Lincoln’s birth. It marked a significant milestone in U.S. coinage history as the first regular-issue coin to feature an actual person’s portrait.
Design Features:
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Obverse (Front): Portrait of President Abraham Lincoln designed by Victor David Brenner.
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Reverse (Back): Two stalks of wheat flanking the words “ONE CENT” and “UNITED STATES OF AMERICA.”
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Mint Marks: Located below the date (if present). Common marks include:
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No mark = Philadelphia
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S = San Francisco
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D = Denver
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The Wheat Penny remained in circulation until 1958, after which it was replaced by the Lincoln Memorial reverse.
Why Some Lincoln Wheat Pennies Are Worth $960,000
While most Wheat Pennies are only worth a few cents to a few dollars, rare varieties can command astronomical prices. The most valuable ones usually have a combination of rarity, condition, and minting errors that make them desirable to collectors.
Factors That Affect Value:
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Rarity and Mintage Numbers
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Minting Errors or Anomalies
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Historical Significance
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High-Grade Condition (Uncirculated or MS65+)
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Presence of Original Luster
Coins with these characteristics are considered numismatic goldmines.
Top Lincoln Wheat Pennies Worth Big Money
Here are some of the most valuable and famous Lincoln Wheat Pennies ever sold:
1. 1943 Bronze (Copper) Penny – Up to $960,000
During World War II, the U.S. Mint switched from copper to zinc-coated steel to save copper for the war effort. However, a few copper planchets (coin blanks) accidentally got struck with the 1943 design.
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Known Examples: Less than 20
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Highest Sale: $960,000
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How to Spot: Check for a 1943 penny that sticks to a magnet (steel) or doesn’t (copper). A non-magnetic 1943 penny could be incredibly rare.
2. 1909-S VDB Penny – Up to $375,000
This is one of the most sought-after Lincoln Wheat Pennies. It was minted in San Francisco in limited numbers and featured the designer’s initials “VDB” on the reverse.
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Mintage: Only 484,000
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Value: $700 to $375,000 depending on condition
3. 1955 Doubled Die Penny – Up to $180,000
One of the most famous error coins, this penny has a dramatic doubling of the date and inscriptions on the obverse.
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Easy to Spot: “LIBERTY” and “IN GOD WE TRUST” appear doubled.
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Value Range: $1,000 to $180,000
4. 1922 No D Penny – Up to $80,000
This coin was minted in Denver, but due to a die polishing error, some coins were struck without the “D” mint mark.
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Known Error Type: Weak reverse and no “D” mint mark
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Value Range: $500 to $80,000
5. 1914-D Penny – Up to $25,000
This Denver-minted penny is scarce in high grades and highly desirable.
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Mintage: 1.2 million
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Value: $200 to $25,000+
How to Tell if You Have a Rare Lincoln Wheat Penny
Not every old penny is a jackpot, but here’s how to spot the valuable ones:
1. Check the Date and Mint Mark
Compare your coin to known rare dates such as:
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1909-S VDB
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1914-D
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1922 No D
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1943 Bronze
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1955 Doubled Die
2. Use a Magnet
Steel 1943 pennies will stick to a magnet. If yours doesn’t, you could have a rare bronze version.
3. Inspect for Errors
Use a magnifying glass to check for:
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Doubling of letters/numbers
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Missing or misaligned mint marks
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Off-center strikes
4. Assess the Coin’s Condition
Coin grades range from Poor (P-1) to Mint State (MS-70). Higher grades mean more value.
5. Consult a Professional
A certified coin dealer or grading service like PCGS or NGC can verify authenticity and grade.
How to Sell a Rare Lincoln Wheat Penny
If you think you have a valuable Lincoln Wheat Penny, here are some options for selling:
1. Coin Dealers
Reputable dealers can provide instant appraisals and offers, though they may offer less than retail to make a profit.
2. Coin Shows
Attend local or national coin shows to connect with collectors and experts.
3. Auction Houses
Major auction firms like Heritage Auctions specialize in rare coins and can fetch top dollar.
4. Online Marketplaces
eBay and other platforms offer wide reach but require careful listings, high-res photos, and buyer communication.
5. Grading Services
Submitting your coin to a grading service helps legitimize your claim and increases your coin’s credibility in the market.
Final Thoughts
The idea that a single Lincoln Wheat Penny could be worth $960,000 is not a myth—it’s a documented reality. While the chances are slim, they’re not zero. With a bit of patience, knowledge, and curiosity, anyone can start looking through their change and old coin jars for hidden gems.
So before you toss that penny aside, take a closer look. You just might be holding a piece of American history—and a small fortune.
Frequently Asked Questions (FAQs)
Q1: What years of Lincoln Wheat Pennies are most valuable?
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1909-S VDB
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1914-D
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1922 No D
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1943 Bronze
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1955 Doubled Die
Q2: Are all 1943 pennies valuable?
No. Most 1943 pennies were made of steel and are worth less than $1. Only the copper versions are rare and valuable.
Q3: How can I grade my Lincoln Wheat Penny?
You can compare your coin to online grading charts or send it to professional services like PCGS or NGC for an official grade.
Q4: Should I clean my coin before selling it?
No. Cleaning a coin can reduce its value. Always leave it in its original condition.
Q5: Can I still find Lincoln Wheat Pennies in circulation?
Yes, but it’s rare. Checking rolls from banks or old family coin jars can yield interesting finds.
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