Have you ever looked into your box of old coins to see if there is any history hidden in it? If you have old wheat pennies, you may be unknowingly owning a valuable treasure. These coins, minted between 1909 and 1958, are not only a part of American history, but some rare versions are being sold for thousands of dollars today. Let us understand in detail what wheat pennies are, what is their price year by year, and what determines its price.
What is wheat penny?
The wheat cent officially known as the Lincoln Wheat Cent is made of wheat penny. It was first started in 1909 to celebrate the 100 th birth anniversary of the former US President Abraham Lincoln. Along with a picture of Lincoln on the front side, this coin had two wheat ears on the back, and thus received a nickname of the “Wheat Penny”.
They were created by a famous artist Victor D. Brenner. The wheat design was replaced by the “Lincoln Memorial” design in 1959, but wheat pennies are still extremely popular with collectors.
Value of Wheat Penny by Year
Below we have listed some of the main and rare wheat penny coins by their year, which can prove to be very valuable today:
- 1909 – Initial Year
1909-S VDB: This is considered the “Holy Grail” of wheat pennies. - Only 4,84,000 coins were minted at the San Francisco Mint with the “V.D.B.” initials.
- Price: ₹58,000 to ₹12 Lakh+ (depending on condition).
1909 VDB (Philadelphia):
- Price: ₹800 to ₹8,000+.
- 1910–1919 – Early Rare Coins
1914-D: - Price: ₹16,000 to ₹4 lakh+.
1917 Double Die Obverse (Defective Coin):
- Price: ₹40,000 to ₹4 lakh+.
- 1911-S, 1912-S, 1913-S:
- Price: ₹2,400 to ₹24,000+.
- 1920–1929 – Hard to Find Coins
1922 (No D Mint Mark)
Minted from Denver Mint but missing mint mark.
- Price: ₹40,000 to ₹12 lakh+.
- 1924-D, 1926-S:
- Price: ₹4,000 to ₹80,000+.
- 1930–1939 – Depression era coins
1931-S:
- Only 8,66,000 minted.
- Price: ₹4,000 to ₹24,000+.
- 1936 Double Die Obverse (Defective Coin):
- Price: ₹8,000 to ₹1.6 Lakh+.
Note: Common coins from this decade usually cost ₹8 to ₹80, unless they are in uncirculated condition.
1940–1949 – Coins of the War and Post-War Period
1943 Steel Cents:
- Made from zinc-coated steel due to shortage of copper during World War II.
- Not generally rare, but interesting.
1943 Copper Penny (Defective Coin):
- Very rare. One coin has sold for ₹8 crore+.
- 1944 Steel Penny (Defective Coin):
- Value can reach ₹25 lakh to ₹80 lakh+.
1950–1958 – Final Years
Most coins from these years are more common.
- General Value: ₹4 to ₹40
- However, if these coins are in Mint Error or Uncirculated Condition, the price can be higher.
Major factors affecting the value of white penny
- Mint Mark
The coin may have S (San Francisco), D (Denver) or no mark (Philadelphia). - Condition/Grade
The better the condition of the coin (such as MS60+ or Uncirculated), the higher its price. - Rarity
Coins that have been minted less or have mint errors are more valuable. - Demand
Coins of certain years are in great demand among collectors, even if their minting number is high.
You may have a treasure in your pocket
Many people have a box or piggy bank of old coins lying in their homes, which they have not even seen for years. It is now time to dig out those coins and have a good clean look at them. Particular attention should be given coins 1909 to 1958, which could possibly contain a wheat penny that is rare.
If you happen to find an unusual, or old, wheat penny, turn it over to an certified coin dealer, or a numismatic expert. It may not be a coin for 10 rupees but a coin for 10 lakh rupees!
Conclusion
The wheat penny is a coin more than a coin, a representation of our history, heritage and luck. It brings us back in mind an ordinary item that can be made to be extraordinary at the appropriate time when it is put at the right place and with the right information.
The next time that you spin a box of old coins, look a little deeper, maybe it holds a treasure trove of both the past and the future.
FAQs
1. What are Wheat Pennies?
A. Wheat Pennies, officially called Lincoln Wheat Cents, were minted in the U.S. from 1909 to 1958. They are named for the two wheat stalks on the reverse side.
2. Why are some Wheat Pennies valuable?
A. Their value depends on rarity, mint errors, mintage year, mint mark, and condition. Rare variations or low mintage years can make them very valuable.
3. What is the most valuable Wheat Penny?
A. The 1909-S VDB is one of the most valuable Wheat Pennies. Another extremely rare piece is the 1943 Copper Penny, which has sold for over $1 million.
4. How can I determine my Wheat Penny’s value?
A. You can assess its value based on its year, mint mark, condition (grade), and known rarity. Coin value guides or professional appraisers can help.
5. Are all Wheat Pennies worth money?
A. Most common Wheat Pennies are worth 5 to 50 cents, but certain rare years or mint errors can be worth hundreds or even thousands of dollars