Millions Wheat pennies are among the most preferred and well-known of all the coins in US history. Although most of these pennies were produced in extremely large quantities, there are a number of scarcer issues, which are still in circulation today and may command enormous prices.
These coins have been sold at these future markets and some of them have gone for amazing prices where the highest bids have reached over $99 million. If you get an opportunity to come across one of these you could be set for life especially if you sufficiently analyze the opportunity. Now that we have presented the general idea of why Wheat pennies are valuable, let’s take a closer look at the ten most valuable albeit still circulating Wheat pennies and why they hold their value.
1943 Copper Wheat Penny
The company minted the Copper wheat penny in 1943, which has become one of the most famous and collected. Because of an error in the minting process, some of these pennies are made of copper while most of the pennies during the second World War are made of steel. This rarity often commands a very good price some of which are sold for up toand excess of one point seven million US dollars.
1909-S VDB Wheat Penny
As the first of the Lincoln Wheat series, this penny is highly prized because circulated “S” (San Francisco) pieces with the initials “V.D.B.” have such a low mintage. Collectors love this piece, and for good reason as one can be worth in the tens of thousands if in good condition.
1914-D Wheat Penny
The 1914-D Wheat Penny is another rare coin because of its low circulation in the market today. In that year, over 22 million pennies were minted, yet just 1.1 million of the “D” mintmark were minted. One such preservation of a penny is that, a good condition of this particular type of penny can cost tens of thousands of dollars.
1922 Plain Wheat Penny
Due to the lack of mintmark, you can distinguish the 1922 Plain Wheat Penny from other pennies that were minted in that period. This was common when dies from the Denver Mint were worn out ere they were replaced and therefore did not have any mintmark. This particular penny can be sold for anything between $200 and over $30000, depending on the kind of condition they are in.
1931-S Wheat Penny
It basically consists of a single-year type, the 1931-S Wheat Penny, in which only 866 000 pieces were produced. Although it is not as desirable as some of the others mentioned, in top condition it may be worth thousands.
1909-S Wheat Penny
As for the year 1909, there is no so-called “VDB” initials, which correspond to the initials of the sculptor, however, such a Wheat Penny is also a rarity, since its production is also very limited. Although fewer than 1.8 million of these coins were ever made, collectors might pay tens of thousands of dollars for those that are in mint condition.
1955 Doubled Die Wheat Penny
The other exceptional and popular coins were also due to minting errors that include the 1955 Doubled Die Wheat Penny. Because of the doubling of the image on the obverse side of the coin it is very easily recognizable. A coin that is in a good condition will cost a fortune when taken to an auction.
1917 Doubled Die Wheat Penny
Another coin that people get interested in is the 1917 Doubled Die Wheat Penny that was produced by a mistake which led to duplication of the image. This variety can be anywhere from several hundreds to several thousand dollars depending on its condition.
1944 Steel Wheat Penny
Kindred to the 1943 Copper Wheat Penny, the 1944 Steel Wheat Penny was an innovation that occurred by mistake. Since steel pennies were mainly minted in 1943, a coin dated 1944 is extremely rare and that’s why it can cost between $75000 to more than $100000.
1926-S Wheat Penny
The 1926-S Wheat Penny holds great value due to its very low mintage and rarity of the high graded coin. It is not quite as rare or sought after as many of the others on this list but a mint copy will bring in the thousands at auction.
| Coin Name | Mintage | Mint Mark | Estimated Value (USD) | Notable Feature |
|---|---|---|---|---|
| 1943 Copper Wheat Penny | Unknown | None | $1.7 Million | Minted in copper during WWII |
| 1909-S VDB Wheat Penny | 484,000 | S | $50,000+ | First year of Lincoln series |
| 1914-D Wheat Penny | 1.1 million | D | $20,000+ | Low mintage |
| 1922 Plain Wheat Penny | Unknown | None | $30,000+ | Mintmark missing due to error |
| 1931-S Wheat Penny | 866,000 | S | $1,000 – $2,500 | Limited mintage |
| 1909-S Wheat Penny | 1.8 million | S | $5,000 – $7,000 | First year of issue |
| 1955 Doubled Die Wheat Penny | Unknown | None | $1,000 – $10,000 | Doubling error |
| 1917 Doubled Die Wheat Penny | Unknown | None | $5,000+ | Doubling error |
| 1944 Steel Wheat Penny | Unknown | None | $75,000+ | Minted in steel after 1943 |
| 1926-S Wheat Penny | 4.5 million | S | $1,000 – $2,500 | Scarcity in high grades |
Most Wheat pennies are pretty plentiful and can usually be obtained easily enough, these however are the true rarities of any circulated coins. It may well be worth a few bucks if you accidentally stumble upon one in circulation?
FAQs
Q. What makes Wheat pennies so valuable?
A. These are some reasons why wheat pennies may be valuable, such as some are rare, they may have minting mistakes, and they are wheat pennies. Some of them include the 1943 Copper or the 1909-S VDB pennies since relatively few coins of them were minted.
Q. Of course that would make it very valuable since it is one of the rarest Wheat pennies out there now ?
A. Mint marks, date and any other special characteristics such as double image or it being made of the wrong alloy. Before buying coins from a specific country, understand that those from specific years or with slight imperfections costing more.
Q. Are there still Wheat pennies out there?
A. Yes, Wheat pennies are highly likely to circulate today, although it is unlikely to find one quite as easily as someone would have ten years ago. It is always possible to find one of these money pieces in your pocket change or bank rolls now and again.
Q. How can I take my Wheat penny to be valued?
A. The Wheat penny value can also be independently and professionally determined by a guide or professional coin dealer or numismatist. They can even set a price depending on condition, rarity and circulation among collectors of that particular type of coin.