Coins are often seen as everyday objects, but sometimes even the smallest coin can hide a fortune. One such treasure is the Lincoln Wheat Penny. While it looks like an ordinary one-cent coin, certain rare editions have reached values as high as $168,000 at auction. Even more surprising—some of these pennies are still out there in circulation.
In this guide, we’ll uncover the story behind the Lincoln Wheat Penny, why it is so valuable, the rare editions to watch for, and tips for collectors.
What Is the Lincoln Wheat Penny?
The Lincoln Wheat Penny was first minted in 1909 to honor President Abraham Lincoln’s 100th birthday. It was the first U.S. coin to feature a real person’s portrait instead of symbolic imagery.
- Obverse (front): Abraham Lincoln’s profile.
- Reverse (back): Two wheat stalks surrounding the words “ONE CENT” – which is how it got its name.
This coin remained in circulation from 1909 to 1958 before being replaced by the Lincoln Memorial design. Today, many of these coins are still found in pocket change, but a few rare versions are worth a small fortune.
Why Is the Lincoln Wheat Penny So Valuable?
Not every Lincoln Wheat Penny is worth thousands. The rarity, condition, and mint mark play the biggest role in determining its value.
Key Factors That Affect Value
- Rare mint years: Certain years and mint marks were produced in very low numbers.
- Error coins: Mistakes during minting (like missing marks or doubled designs) make some coins extremely rare.
- Mint condition: Uncirculated coins with no scratches or wear are worth far more.
- Historical importance: Collectors value the coin as both currency and a piece of U.S. history.
Example: A 1909-S VDB Wheat Penny (San Francisco mint with designer Victor David Brenner’s initials) is one of the most valuable.
Rare Lincoln Wheat Pennies Worth Big Money
Here are some of the most valuable versions that collectors search for:
| Year & Mint Mark | Why It’s Rare | Estimated Value* |
|---|---|---|
| 1909-S VDB | Low mintage, VDB initials | $50,000 – $168,000+ |
| 1914-D | Very few minted in Denver | $10,000 – $200,000 |
| 1922 No D | Missing “D” mint mark error | $15,000 – $75,000 |
| 1931-S | Only 866,000 produced | $5,000 – $80,000 |
| 1944 Steel Penny | Wrong metal used | $100,000+ |
*Values vary based on condition and auction results.
Are Rare Wheat Pennies Still in Circulation?
Yes, incredibly, some valuable Wheat Pennies still turn up in pocket change, old piggy banks, or coin jars. Many people overlook them, thinking they’re just regular pennies.
That’s why coin experts always recommend checking your change carefully—you never know when a $168,000 coin might be hiding in your wallet.
How to Preserve and Protect Wheat Pennies
If you own a Wheat Penny that might be rare, its condition is everything. Here’s how to keep it safe:
- Handle with gloves: Avoid touching with bare hands (oils can damage the surface).
- Use airtight holders: Store coins in protective cases or coin albums.
- Avoid cleaning: Cleaning can scratch or devalue the coin.
- Control humidity: Keep silica gel packs nearby to prevent moisture damage.
- Get graded: Have the coin professionally graded by agencies like PCGS or NGC to maximize resale value.
Why Collectors Love the Lincoln Wheat Penny
Beyond its price tag, the Wheat Penny represents:
- American history: First U.S. coin to feature a president.
- Agricultural symbolism: Wheat stalks reflect the nation’s farming heritage.
- Investment potential: Rare coins increase in value over time.
For many collectors, it’s not just money—it’s owning a piece of living history.
Tips for New Collectors
If you want to start collecting Lincoln Wheat Pennies:
- Look for key years – 1909, 1914, 1922, 1931, and 1944 are especially valuable.
- Check the mint mark – Look for “S” (San Francisco) or “D” (Denver).
- Inspect carefully – Use a magnifying glass to spot errors or doubled designs.
- Learn coin grading – Know the difference between “Good,” “Fine,” and “Mint State.”
- Buy from trusted dealers – Avoid scams and always ask for certification.
FAQs About Lincoln Wheat Pennies
1. What years of Lincoln Wheat Pennies are most valuable?
Rare editions from 1909-S VDB, 1914-D, 1922 No D, and 1931-S are among the most valuable.
2. How much is a 1944 Lincoln Wheat Penny worth?
Most 1944 pennies are common, but a rare 1944 Steel Penny can sell for over $100,000.
3. Can I still find Wheat Pennies in circulation?
Yes, though rare, they sometimes appear in loose change, coin rolls, or old collections.
4. Should I clean an old Wheat Penny to improve its look?
No. Cleaning can damage the coin and drastically reduce its value.
5. How can I check if my Wheat Penny is rare?
Look at the year, mint mark, and condition. For certainty, get it graded by professionals like PCGS or NGC.
Conclusion
The Lincoln Wheat Penny proves that even the smallest coin can hold incredible value. What looks like a simple cent could be worth $168,000 or more if it’s one of the rare versions.
Whether you’re a collector, investor, or just curious, it’s worth checking your spare change—you might be holding a hidden treasure.
Next time you spot a Wheat Penny, don’t spend it—inspect it. That tiny coin could be a big fortune waiting to be discovered.