The wheat penny was introduced in 1909, marking it as the first widely circulated coin to feature a U.S. president. The U.S. Mint commissioned sculptor Victor D. Brenner to create a design honoring Abraham Lincoln in recognition of his 100th birthday.
Although Lincoln remains on the penny today, the wheat design was replaced by the Lincoln Memorial in 1959. Nevertheless, the wheat penny continues to captivate collectors.
While these valuable wheat pennies are not commonly found, some still circulate today. If you come across a wheat penny, take a closer look you might have a rare collectible!
15. 1915 S Penny
Value: Up to $1,500
Overview: The San Francisco-minted 1915 S penny is an excellent choice for beginners, with an average value of around $28 in typical condition. In pristine mint condition, this coin often fetches higher prices than other pennies from the same year.
This penny is available in both reddish-brown and brown shades, with the reddish-brown variety being the most desirable among collectors.
14. 1909 S V.D.B. Penny
Value: Up to $2,200
Overview: The 1909 S V.D.B. penny, designed by Victor David Brenner, features his full name at the bottom center of the reverse side. However, engraver Charles Barber later modified this by changing Brenner’s name to the initials “V.D.B.”
Following the coin’s release, some publications raised concerns that the initials served as free advertising for the designer. In response to this backlash, mint officials decided to eliminate the initials entirely.
Only 484,000 of these pennies were minted with the designer’s initials, making them highly sought after by collectors.
13. 1926 Penny
Value: Up to $3,000
Overview: While 1926 wheat pennies are relatively common and usually not very valuable in a “good” grade, they are particularly appealing to beginner coin collectors.
However, those in mint condition can sell for thousands of dollars. Notably, this penny does not feature a mintmark, further adding to its unique characteristics.
12. 1922 D Penny
Value: Up to $5,000
Overview: The 1922-D penny is among the more common coins from the decade. However, the visibility of its mintmark can significantly influence its value.
Pennies with clear mintmarks tend to be the least expensive, while those with “ghost” mintmarks (barely visible) can command higher prices. The most valuable version is the one without a mintmark, and pennies featuring a strong reverse are particularly sought after by collectors.
11. 1914 D Penny
Value: Up to $5,500
Overview: The 1914-D penny is rarer than its Philadelphia counterparts, with only 1.2 million minted compared to 75 million. This scarcity adds to its value among collectors.
However, potential buyers should be cautious of the numerous fakes and counterfeits that circulate in the market, as they are particularly common for this coin.
10. 1917 Doubled Die Penny
Value: $3,000 – $6,000
Overview: The 1917 doubled die penny features subtle doubling, particularly noticeable in the inscriptions “IN GOD WE TRUST” and “1917.” While the doubling may be hard to detect at first glance, it significantly enhances the coin’s value.
These 1917 wheat pennies are considered among the most valuable double-die errors ever produced, making them highly sought after by collectors.
9. 1955-P DDO Penny
Value: $4,000 – $16,000
Overview: The 1955-P DDO penny is the most famous double-die penny ever minted. The doubling is clearly visible in the inscriptions “IN GOD WE TRUST,” “LIBERTY,” and the year “1955.”
In addition, there is a less notable version known as the “poor man’s” DDO penny from the same year, which lacks the prominent doubling and holds significantly less value. This makes the 1955-P DDO penny highly desirable among collectors.
8. 1922-D No D Strong Reverse Penny
Value: $12,000 – $30,000
Overview: In 1922, the Denver Mint was the sole facility producing pennies, leading to occasional lapses in quality control during the minting process.
The rare 1922-D No D penny likely resulted from dies colliding without a coin in between, which can lead to the creation of coins with weak or missing mint marks. It’s believed that someone at the mint may have attempted to improve the appearance of the coins but inadvertently over-filed them, resulting in these unique and valuable errors. Collectors highly prize this penny for its rarity and distinct features.
7. 1944-P Steel Penny
Value: $50,000+
Overview: In 1944, all pennies were intended to be produced using copper or bronze due to World War II demands. However, a small number of zinc-coated steel planchets leftover from 1943 were mistakenly used in 1944.
The steel pennies minted in Philadelphia during this year are the most common among the three mints, but they remain exceptionally rare and valuable, with prices exceeding $50,000 for well-preserved examples. This unique coin is highly sought after by collectors for its historical significance and rarity.
6. 1944-D Steel Penny
Value: $60,000+
Overview: The 1944-D steel penny was produced under similar circumstances as the Philadelphia-minted version, with a few zinc-coated steel planchets from 1943 mistakenly used during the 1944 minting process.
These coins are extremely rare, with only seven known specimens in existence. However, experts speculate that additional examples may still be uncovered. Due to their scarcity and unique history, the 1944-D steel penny commands a value of over $60,000, making it a prized item among collectors.
5. 1958-P DDO Penny
Value: $100,000 – $200,000
Overview: The 1958-P DDO penny is renowned for featuring one of the rarest double-die obverse (DDO) errors among wheat pennies, with only a few known examples in existence. The inscriptions “IN GOD WE TRUST” and “LIBERTY” on the front of the coin exhibit noticeable doubling.
Additionally, the year “1958” also displays slight doubling, although it is less prominent and may not be easily visible at first glance. The combination of its rarity and distinctive features makes the 1958-P DDO penny highly sought after, commanding a value between $100,000 and $200,000.
4. 1943 Bronze Penny
Value: $300,000+
Overview: In 1943, due to the demand for copper during World War II, pennies were meant to be minted from steel. However, a small number of copper planchets from 1942 were accidentally used, resulting in the extremely rare 1943 bronze penny.
Among the three mints, the Philadelphia Mint produced the most common examples of this error. This penny is also one of the most counterfeited coins, so collectors should be cautious; if the coin sticks to a magnet, it indicates that it contains steel and is fake. Additionally, be wary of altered dates, particularly those changed from an “8” to a “3,” which can impact the coin’s value. With prices exceeding $300,000, the 1943 bronze penny is highly prized by collectors.
3. 1943-S Bronze Penny
Value: $500,000+
Overview: The 1943-S bronze penny also emerged from the accidental use of a limited number of 1942 copper planchets during the 1943 minting process.
While San Francisco-minted 1943-S copper pennies are the next most common variant of this error, only five known specimens exist, making them exceptionally rare. As a result, these pennies can command values exceeding $500,000, making them highly coveted by collectors and a significant highlight in any numismatic collection.
2. 1944-S Steel Penny
Value: $700,000 – $1,000,000
Overview: The 1944-S steel penny is another remarkable example of using leftover steel planchets from 1943 during the 1944 minting process. This particular coin is the rarest mint from that year.
Currently, only two known specimens of the San Francisco-minted 1944-S steel penny exist, making it an extraordinary find for collectors. With values ranging from $700,000 to $1,000,000, this penny is highly sought after and represents a significant opportunity for any serious numismatist.
1. 1943-D Bronze Penny
Value: $800,000 – $2 million
Overview: The 1943-D bronze penny is often regarded as the “Holy Grail” of wheat pennies. Currently, only one known specimen exists that was not produced by error, leading to much intrigue and speculation among collectors regarding its origins.
According to numismatic experts John Wexler and Kevin Flynn, this unique coin is believed to have been struck by a former employee of the Denver Mint. It is speculated that the employee hand-fed a bronze planchet into the coining press, struck it twice to create the design, and then retained the coin. Given its extraordinary rarity and intriguing backstory, the 1943-D bronze penny commands a staggering value between $800,000 and $2 million, making it a coveted treasure for serious collectors.
Conclusion
In conclusion, the world of wheat pennies offers a captivating glimpse into American history and coinage. The rarity and unique characteristics of the coins on our list demonstrate the value that collectors place on these pieces. From the legendary 1943-D bronze penny to the coveted 1958-P DDO penny, each coin carries a story and a potential investment opportunity. Whether you’re looking to start your collection or enhance an existing one, understanding the most valuable wheat pennies can guide you in making informed decisions. Keep an eye on the market, as these coins continue to inspire interest and enthusiasm among collectors.
FAQs
1. What is the most valuable wheat penny?
The most valuable wheat penny is the 1943-D bronze penny, valued between $800,000 and $2 million.
2. Why are some wheat pennies more valuable than others?
Wheat pennies are valued based on rarity, condition, historical significance, and mint errors, which can drastically affect their market price.
3. How can I tell if my wheat penny is valuable?
Check for key dates, mint marks, and unique features like doubling or errors. Consulting a coin expert or guide can help assess its value.
4. Where can I sell my valuable wheat pennies?
You can sell valuable wheat pennies through coin dealers, online auction sites, or specialized coin shows to reach potential buyers.