Lincoln Wheat Pennies, minted from 1909 to 1958, are cherished numismatic pieces. Certain rare varieties have fetched astonishing amounts at auctions, despite being common and valued at one cent each. A 1943 Lincoln Wheat Penny struck on a bronze planchet recently sold for $240,000.
The article discusses the factors that contribute to the extraordinary value of specific Lincoln Wheat Pennies, examines other rare coins that have commanded millions, and provides tips for identifying valuable pennies that are still circulating today.
Lincoln Wheat Pennies: An Overview
The Lincoln Wheat Penny features a portrait of Lincoln on the obverse and two stalks of wheat on the reverse to commemorate Abraham Lincoln’s 100th birthday in 1909.
In place of the Indian Head cent, it was the first U.S. coin to depict a real person.
Lincoln Wheat Pennies: Factors Affecting Their Value
Lincoln Wheat Pennies are valued based on several factors:
- Coins with minting errors, such as double die strikes or off-center prints, are highly sought after by collectors.
- Some years had lower minting numbers, making those specific pennies harder to find.
- A penny in pristine, uncirculated condition can fetch much higher prices than one in worn-down condition.
- Coins with interesting backstories or from significant periods in history are more valuable.
The Lincoln Wheat Penny: Its Values and Notable Features
Here are some of the most valuable Lincoln Wheat Pennies:
1. 1909-S VDB
Featuring the designer’s initials ‘VDB’ on the reverse, this 1909 penny is highly valuable.
2. Bronze medal awarded in 1943
A minting error caused some 1943 pennies to be struck on bronze planchets instead of zinc-coated steel. These coins are rare and valuable.
3. 1992 Close AM
Only about 10 examples are believed to exist. The ‘AM’ in ‘AMERICA’ on the reverse is closely spaced.
4. 1922 No D
A few pennies were minted in Denver without the ‘D’ mint mark in 1922. These are extremely rare and highly sought after.
5. Double die from 1955
As a result of a minting error, the date and inscriptions on this penny have been doubled.
Lincoln Wheat Pennies: How to Identify Their Value
If you think you have a valuable Lincoln Wheat Penny, follow these steps:
- Look for key dates such as 1909-S VDB, 1943 Bronze, 1992 Close AM, 1922 No D, and 1955 Double Die.
- Look for doubled images, off-center strikes, and missing mint marks.
- The condition of coins is graded on a scale from 1 to 70, with higher grades indicating better condition.
Grading and authentication by professionals
You may want to consider having your coin graded by a professional service such as the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS).
There are a few rare varieties of Lincoln Wheat Pennies that can command impressive sums despite the modest value of most Lincoln Wheat Pennies. You might find a hidden treasure among your pocket change if you carefully examine your pennies and seek professional advice.
