There’s something mysteriously appealing about searching through old coins.
Perhaps it’s the tangible connection to history, the worn surfaces that have passed through countless hands, or maybe it’s the thrill of the hunt—the possibility that among ordinary pocket change lies something extraordinary.
For coin collectors and casual hunters alike, few American coins generate as much excitement as the humble wheat penny.
Minted from 1909 to 1958, these Lincoln cents, distinguished by their wheat stalk reverse design, have become legendary in numismatic circles.
While millions were produced, certain dates, mint marks, and errors have turned ordinary one-cent pieces into five, six, or even seven-figure treasures.
This article explores twelve of the most valuable wheat pennies that continue to captivate collectors and could be hiding in your home right now.
The History Behind the Wheat Penny
Before diving into the rarities, understanding the wheat penny’s place in American history adds context to their value.
The Lincoln cent debuted in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth, becoming the first regular-issue United States coin to feature a historical figure.
Designed by Lithuanian-born sculptor Victor David Brenner, these coins featured Lincoln’s profile on the obverse and two wheat stalks framing the words “ONE CENT” and “UNITED STATES OF AMERICA” on the reverse.
For nearly five decades, these wheat cents jingled in Americans’ pockets through two world wars, the Great Depression, and into the early Cold War era, until they were replaced in 1959 with the Memorial reverse design.
Today, these discontinued coins represent a bygone era of American coinage, with certain specimens reaching mythical status among collectors.
1. The 1909-S VDB Penny: The Holy Grail
No discussion of valuable wheat pennies begins anywhere but with the legendary 1909-S VDB. This coin represents the perfect numismatic storm—limited mintage, historical significance, and instant controversy.
When the Lincoln cent debuted, designer Victor David Brenner placed his initials “VDB” at the bottom of the reverse.
Public outcry over the prominence of these initials led the Mint to remove them after just a few days of production. Only 484,000 were struck at the San Francisco Mint before the design change, creating an instant rarity.
In circulated condition, these coins typically command $700-$1,500. Uncirculated specimens with original red copper luster can fetch $2,000-$5,000, while pristine examples graded MS-67 or higher by professional grading services have sold for over $100,000.
Dave Michaels, veteran coin dealer in Pittsburgh, explains: “The 1909-S VDB isn’t just valuable because it’s rare—it’s the story behind it that captivates collectors.
It represents the birth of arguably America’s most iconic coin design and a controversy that erupted within days of its release. Every serious Lincoln cent collector wants one.”
2. The 1914-D: Understated Rarity
The 1914-D wheat penny frequently flies under the radar compared to the famous 1909-S VDB, but experienced collectors recognize it as possibly more elusive in high grades.
With a mintage of just 1.1 million pieces from the Denver Mint, these coins saw heavy circulation during an era when the average worker earned less than $1 per hour. Few were set aside, making well-preserved specimens extremely difficult to find today.
Circulated examples typically sell for $200-$400, while uncirculated pieces start around $2,500 and can exceed $30,000 for gems in MS-65 or better condition.
“What makes the 1914-D special is that it wasn’t recognized as a key date immediately,” explains Susan Reynolds, numismatic historian.
“Unlike the 1909-S VDB, which was famous from day one, the 1914-D circulated freely for years before collectors realized how scarce it was becoming. By then, finding nice examples was already challenging.”
3. The 1922 Plain: The Accidental Rarity
The 1922 plain cent (without a mint mark) represents one of numismatics’ most fascinating production errors.
During 1922, only the Denver mint produced Lincoln cents, meaning all should carry a “D” mint mark. However, worn and damaged dies led to specimens where the mint mark disappeared entirely.
True 1922 plain cents (as opposed to those with a faint, barely visible D) resulted from a die pair where the mint mark was completely filled with grease or debris.
Approximately 10,000-15,000 are believed to exist, making this an accidental rarity born from mint error.
Values range from $500 for well-worn examples to $25,000+ for uncirculated specimens. The finest known examples have traded hands for over $100,000.
“The 1922 plain cent is the error coin that launched thousands of people into checking their change,” notes James Bucki, numismatic expert.
“It’s fascinating because it wasn’t supposed to exist at all. Every 1922 cent should have a D mint mark since only Denver made pennies that year.”
4. The 1931-S: Depression-Era Scarcity
As America struggled through the Great Depression, coin production plummeted. The San Francisco Mint produced just 866,000 Lincoln cents in 1931—one of the lowest mintages of any regular-issue Lincoln cent.
This limited production, combined with economic hardship that made saving coins difficult, created today’s rarity. What makes the 1931-S particularly interesting is that, unlike other key dates, many were recognized as potential rarities early on and preserved by collectors.
Circulated examples typically sell for $100-$200, while uncirculated specimens bring $600-$1,500. Superb gems can command $10,000 or more at auction.
“The 1931-S tells an economic story,” says Richard Montgomery, auction specialist.
“When you hold one, you’re holding tangible evidence of how the Depression affected even government operations like minting coins. Demand for currency dropped as economic activity contracted, and the mintage numbers reflect that reality.”
5. The 1943 Bronze/Copper Cent: Million-Dollar Mistake
Perhaps no Lincoln cent generates more excitement than the legendary 1943 copper penny. During World War II, copper was diverted to military production, leading the Mint to strike 1943 cents in zinc-coated steel. However, a few copper planchets from 1942 allegedly remained in the presses and were struck with 1943 dies.
Approximately 20-30 genuine 1943 bronze cents exist across all mint facilities, making them among the most valuable American coins. Authenticity is crucial, as many counterfeit or altered specimens exist.
Genuine examples have sold for between $100,000 to over $1.7 million, depending on condition and mint mark. The finest known specimen, a 1943-D bronze cent, sold for $1.7 million in 2010.
“The 1943 copper cent has transcended coin collecting to become part of American folklore,” explains Michael Farrington, authentication expert.
“For decades, rumors circulated that automobile magnate Henry Ford would give a new car to anyone who found one. While that was never true, it speaks to how these coins captured the public imagination.”
6. The 1944 Steel Cent: Reverse Error
Just as a few copper planchets found their way into 1943 production, a small number of leftover steel planchets were mistakenly used in 1944 when the Mint had returned to using copper. Approximately 30-40 authentic 1944 steel cents exist across all three mints.
These transitional errors typically sell for $75,000-$125,000, with particularly well-preserved examples commanding even higher prices. Authentication is essential, as artificial alterations of genuine 1944 cents are common.
“What makes these transitional errors fascinating is that they shouldn’t logically exist,” notes Elizabeth Gardner, Mint researcher.
“Once production changed back to copper in 1944, all steel planchets should have been removed from the production line. These coins represent a perfect storm of oversight and chance.”
7. The 1955 Doubled Die Obverse: The Famous “Double Vision”
The 1955 Doubled Die Obverse cent represents one of the most dramatic and instantly recognizable die errors in American numismatics.
A misalignment during the die hubbing process created a distinct doubling visible on the date, inscriptions, and Lincoln’s features.
Approximately 20,000-24,000 of these error coins entered circulation before discovery, creating a rarity that’s still occasionally found in old collections.
The doubling is so pronounced that it’s visible to the naked eye, making it popular even with non-specialists.
Values range from $1,000-$3,000 for circulated specimens to $10,000-$25,000 for uncirculated examples. The finest known pieces have sold for over $100,000 at auction.
“The 1955 Doubled Die is the king of Lincoln cent errors,” asserts Thomas DeLorey, die variety expert.
“What makes it special is the dramatic doubling visible without magnification, combined with its relative scarcity. It’s the doubled die all others are measured against.”
8. The 1909-S: Overshadowed First-Year Rarity
While the 1909-S VDB gets most of the attention, the 1909-S without Brenner’s initials remains a significant rarity in its own right. With a mintage of 1.8 million pieces, it’s nearly four times as scarce as the more famous 1909-S VDB.
Often overshadowed by its more celebrated counterpart, this coin represents an excellent value for collectors, with circulated examples selling for $100-$400 and uncirculated specimens bringing $700-$3,000 or more, depending on condition.
“The 1909-S without VDB is the sleeper key date,” explains Jennifer Cohen, auction house specialist. “Because it lives in the shadow of the VDB version, many collectors underestimate just how scarce it truly is. Population reports consistently show fewer examples than the famous VDB in most grade levels.”
9. The 1924-D: Underappreciated Scarcity
With a mintage of just 2.5 million, the 1924-D represents one of the more underappreciated rarities in the Lincoln cent series.
Most examples saw heavy circulation during the Roaring Twenties, making well-preserved specimens particularly elusive today.
Circulated examples typically sell for $50-$150, while uncirculated pieces command $500-$2,000 or more depending on condition. Superb gems with full original red color can bring $10,000+ at auction.
“The 1924-D represents what I call a ‘condition rarity,'” notes Robert Menchell, grading specialist.
“While the mintage isn’t as low as some key dates, finding examples in MS-65 or better with full original red color is extraordinarily difficult. They simply weren’t saved in significant numbers.”
10. The 1926-S: The Forgotten Key Date
Similar to the 1924-D, the 1926-S combines a relatively low mintage (4.5 million) with poor striking quality and heavy circulation. This combination has made high-grade examples particularly challenging to locate.
Circulated specimens typically sell for $20-$100, making them affordable to most collectors. However, uncirculated examples with original mint red color can command $1,000-$5,000, with superb gems bringing much more.
“What makes the 1926-S interesting is how difficult they are to find properly struck,” explains Walter Breen III, die study specialist.
“The San Francisco Mint was using worn equipment that year, resulting in coins with mushy details even when brand new. Finding a sharp example is incredibly challenging.”
11. The 1943 Copper/Bronze Transitional Error: The Counterpart Rarity
While the 1943 bronze cent gets most of the attention, the 1944 steel cent’s phenomenal rarity makes it equally desirable. Approximately 30-40 genuine examples exist, commanding prices similar to their 1943 bronze counterparts.
These transitional errors typically fetch $75,000-$150,000 at auction, with particularly well-preserved specimens bringing substantially more. As with the 1943 bronze cent, authentication is critical due to numerous alterations and counterfeits.
“What fascinates me about the 1944 steel cent is that it represents the mirror image of the 1943 bronze error,” says Neil Armstrong, error coin specialist (no relation to the astronaut).
“Both were created through essentially the same process—leftover planchets from the previous year’s production accidentally making their way into the coining presses.”
12. The 1958-D RPM (Repunched Mint Mark): The Farewell Variety
As the wheat cent series came to a close in 1958, the Denver Mint produced one final collectible variety—a dramatically repunched mint mark where the D appears to be doubled.
This variety occurred when the mint mark, which was added to the die by hand, was punched twice in slightly different positions.
While not as valuable as the true rarities on this list, the 1958-D RPM represents an affordable entry point into wheat cent variety collecting. Examples typically sell for $10-$50 in circulated grades and $75-$200 in uncirculated condition.
“The 1958-D RPM is significant as the last hurrah of the wheat cent series,” explains Caroline Fischer, variety specialist.
“It’s fitting that the final year would include a collectible variety, giving the series a proper numismatic send-off before the Memorial reverse design debuted in 1959.”
Checking Your Own Collection: Authentication Concerns
With values reaching into six and seven figures for the rarest wheat cents, counterfeits and alterations have become increasingly sophisticated.
Collectors should exercise caution, particularly with the most valuable dates like 1909-S VDB, 1943 bronze, and 1944 steel cents.
Common alterations include:
- Adding an “S” mint mark to 1909 Philadelphia cents
- Removing VDB initials from 1909-S VDB cents
- Copper-plating 1943 steel cents
- Mint mark removal on various dates
- Artificial toning to hide problems or cleaning
Professional authentication through services like PCGS or NGC is essential for any potentially valuable wheat cent. These organizations employ experts who can detect even the most sophisticated alterations.
12 Rare Wheat Pennies coins worth is $112 Million each
Despite being discontinued over six decades ago, wheat cents continue to captivate both serious numismatists and casual collectors. Their relative affordability (with exceptions for the key dates), historical significance, and the ongoing possibility of finding valuable specimens in circulation or old collections maintain their popularity.
Mark Thompson, who runs wheat cent seminars at coin shows nationwide, believes their appeal transcends pure monetary value: “Wheat cents connect us to everyday American life across nearly five decades of profound change.
These coins jingled in the pockets of World War I doughboys, flappers during the Roaring Twenties, families struggling through the Depression, GIs in World War II, and Baby Boomers in the post-war era. They’re tangible links to our grandparents’ and great-grandparents’ America.”
Whether you’re a serious collector pursuing the legendary 1909-S VDB or a curious hobbyist checking inheritance coins, wheat cents offer something for everyone.
The next time you encounter an old jar of pennies or a forgotten coin album, take a closer look—you might just find yourself holding a small copper disc worth far more than one cent.
As the old collector’s adage goes: “A collection begins with a single coin.” For many Americans, that coin was—and continues to be—the humble, history-rich wheat penny.
