Rare $11 Million Lincoln Wheat Penny : For over a century, the Lincoln Wheat Penny has been a humble fixture in American pockets and purses. First minted in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth, this coin represented a historic shift. It was the first regular-issue U.S. coin to feature the likeness of a real person, moving away from the symbolic Liberty figures of the past. Designed by Victor David Brenner, its obverse bears Lincoln’s thoughtful profile, while the reverse showcases two sturdy wheat stalks—a symbol of the nation’s agricultural prosperity. While millions were produced, a select few of these pennies have transcended their face value, becoming legendary treasures worth life-changing sums, with reports of a singular example valued in the millions. This guide explores the fascinating world of these coins, not as a get-rich-quick scheme, but as a journey into history, artistry, and the patient pursuit of numismatic passion.
Understanding the Value of a Wheat Penny
The vast majority of Lincoln Wheat Pennies, especially those found in general circulation, are common. Their value lies primarily in their historical significance—a tangible connection to the early and mid-20th century. However, a combination of specific factors can elevate a simple one-cent piece to extraordinary worth. The thrill for collectors lies in understanding these nuances and recognizing the potential for a remarkable discovery, even in an old coin jar passed down through generations. Key factors that create value include rarity, driven by low mintage figures from certain years and mints; condition, where a perfectly preserved coin can be worth exponentially more than a worn one; and errors, unique mistakes made during the minting process that make a coin one-of-a-kind. It is the intersection of these elements—a rare date, in pristine condition, with a notable error—that can result in the staggering auction prices that make headlines.
Lincoln Wheat Penny Key Information Table
| Feature | Details |
|---|---|
| Years of Issue | 1909 – 1958 |
| Designer | Victor David Brenner |
| Obverse (Heads) | Portrait of President Abraham Lincoln |
| Reverse (Tails) | Two wheat stalks framing the denominations “ONE CENT” and “UNITED STATES OF AMERICA” |
| Metal Composition | 95% copper, 5% tin and zinc (1909-1942, 1944-1958). 1943: Zinc-coated steel. |
| Weight | 3.11 grams |
| Diameter | 19 mm |
| Mint Marks | “S” (San Francisco), “D” (Denver), or none (Philadelphia) |
| Notable Rare Dates | 1909-S VDB, 1914-D, 1922 “Plain”, 1931-S |
| Why Collectible | First U.S. circulating coin to feature a real person; rich history; accessible series with rare, valuable varieties. |
How to Examine Your Wheat Pennies
If you’re inspired to look through your collection, a methodical approach is best. Here’s how to scrutinize your Lincoln cents:
- Begin by checking the date. Key dates like the 1909-S VDB, the 1914-D, the 1922 “Plain” (with no mint mark), and the 1931-S are famously scarce. Finding one of these is an excellent start. Next, identify the mint mark. Located on the obverse (heads side) under the year, a “D” (Denver) or “S” (San Francisco) often indicates a lower mintage than the Philadelphia issue, which typically has no mint mark.
- Carefully inspect for errors. Use a magnifying glass to look for doubling in the lettering or date, signs that the coin was struck off-center, or anomalies that suggest it was made on the wrong metal blank. Finally, honestly assess the condition. Is the detail sharp, or are Lincoln’s cheek and the wheat stalks smooth from wear? Coins are graded on a 70-point scale, and even a one-point difference can significantly impact value.
The Human Connection to Coin Collecting
Behind every rare coin is a story—not just of metal and mint, but of people. There’s the collector who spent decades patiently assembling a complete set, the family who discovered a treasure in an ancestor’s attic, and the novice who, armed with newfound knowledge, spots a rarity in a handful of change. This hobby connects us to the past, to the artisans who designed the coins, and to the shared history they represent. The Lincoln Cent itself, still in production today, is a thread that ties modern America to the era of the Model T. Collecting is a pursuit of knowledge, patience, and community, where the true reward is often the hunt and the history learned along the way.
Frequently Asked Questions (FAQ)
Q: I found a 1943 penny that looks like copper. Is it valuable?
A: Possibly extremely valuable. 1943 pennies were supposed to be struck on zinc-coated steel to save copper for WWII. A small number were mistakenly struck on the previous year’s copper planchets. These 1943 copper pennies are legendary rarities. Have it authenticated by a professional grading service.
Q: What does “VDB” mean on a Lincoln penny?
A: “VDB” are the initials of designer Victor David Brenner. They appeared at the bottom of the reverse on some 1909 pennies. Public debate over their prominence led to their removal for most of that year, making the 1909-S (San Francisco) with VDB one of the key coins in the series.
Q: How should I store and handle my wheat pennies?
A: Handle coins by the edges to avoid leaving oils from your skin on the surfaces. For valuable coins, use inert plastic holders (like archival-quality flips or slabs) and store them in a cool, dry place. Avoid PVC-based plastic holders, as they can damage coins over time.
Q: Are all old wheat pennies worth a lot of money?
A: No. While all have historical interest, most wheat pennies, especially those from common years in worn condition, are worth only a few cents to a few dollars. Value escalates dramatically with rarity, condition, and errors.
Q: Where is the best place to get my coin valued?
A: For a general idea, consult the “Red Book” (A Guide Book of United States Coins). For a definitive valuation, especially for a potentially rare coin, seek a reputable coin dealer or submit it to a professional grading service like PCGS or NGC for authentication and grading. This certification is essential for selling high-value coins.
The Lincoln Wheat Penny is a democratic artifact—a piece of history that passed through countless hands. Whether your search yields a common coin that sparks an interest in the past or an ultra-rare find, the true value lies in the connection it fosters to our shared story. It reminds us that wonder and history can sometimes be found by simply looking a little closer at the everyday world around us.
