Lincoln Wheat Penny Valuation: Wheat Penny Value Guide

Most Lincoln Wheat pennies from 1909–1958 are worth just a few cents to a few dollars, though rare dates and high-grade examples can command thousands. Value depends heavily on factors such as mintage, condition, demand among numismatists, and whether the coin has been professionally certified.

From humble beginnings in everyday circulation to prized rarities sought at major auctions, Lincoln Wheat pennies remain one of America’s most collected coins. This Lincoln Wheat penny valuation guide explores their history, design, key dates, myths, and the factors that shape value. 

Whether you’re holding a jar of old cents or a carefully built collection, understanding how to evaluate and appraise these coins is essential. 

Here, you’ll learn what determines a penny’s worth, how to spot a truly valuable Wheat penny, and how Coinfully makes selling Lincoln Wheat pennies seamless and stress free.

History of Lincoln Wheat Pennies (1909-1958)

The Lincoln Wheat penny, formally known as the Lincoln cent, was first issued in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. 

Sculptor Victor David Brenner was chosen to design the coin, marking the first time a U.S. circulating coin featured a real person. 

Produced from 1909–1958, these cents replaced the Indian Head cent and remained in production until the Lincoln Memorial reverse debuted in 1959. Early years, such as the 1909-S VDB from the San Francisco Mint, quickly became scarce and highly collectible. 

Over time, changes in composition, from bronze planchets to zinc-coated steel to conserve copper in 1943 due to wartime needs, further influenced the series’ legacy. Today, Wheat pennies are a staple of numismatic collecting, valued for both history and rarity.

Lincoln Wheat Penny Design

Brenner’s design introduced an artistic departure from previous U.S. coinage. The obverse of the coin features a lifelike profile of Abraham Lincoln, while the wheat reverse symbolizes agricultural prosperity through paired wheat stalks curving along the edges. 

Minor modifications occurred throughout the series, but the design remained iconic until the Lincoln Memorial reverse replaced it in 1959.

Wheat Penny Obverse

The obverse presents a right-facing bust of Lincoln designed by sculptor Victor David Brenner, modeled from his earlier plaque of Abraham Lincoln. Above Lincoln is the motto IN GOD WE TRUST, with LIBERTY to the left and the date to the right. 

Depending on the year, a mintmark from the Denver Mint or San Francisco Mint may appear below the date. Pennies minted in Philadelphia have no mintmark.

Wheat Penny Reverse

The reverse displays two stylized wheat stalks curving upward along the rim, enclosing the denomination ONE CENT and UNITED STATES OF AMERICA. Above is the motto E PLURIBUS UNUM. 

This wheat reverse design, both simple and symbolic, gave rise to the coin’s nickname “Wheat cent.” The clean arrangement emphasizes Brenner’s vision of national strength rooted in agriculture.

Lincoln Wheat Penny Value: How Much Wheat Pennies Are Worth

Determining Lincoln Wheat penny worth requires balancing rarity, condition, and demand. While most examples from the 1909–1958 series remain common and trade for less than $10, scarce issues and error coins can command thousands. 

Collectors rely on price guides, auction records, and professional grading by services like PCGS or NGC to establish accurate market value.

Average Value of Common Wheat Pennies

Most circulated Wheat cents found in pocket change or bulk collections are worth only a few cents to perhaps 25¢ each. However, high-grade survivors, especially with sharp details and original luster, can bring several dollars. 

Collectors often pay premiums for nicely preserved rolls or uncirculated examples, while rare dates or error types may be far more valuable.

Factors Influencing Rare Lincoln Wheat Penny Value

Several key factors determine whether a Wheat penny is just a common collectible or one of the truly valuable pennies. From mintage totals and composition shifts to condition and demand, understanding these influences helps collectors and sellers make accurate valuations.

Mint Year and Mintmark

The year and mintmark strongly impact Lincoln Wheat penny value. Coins from low-production years or with limited mintage, such as the 1909-S VDB or the 1922 Plain variety, are far scarcer than later issues such as 1958. 

Mintmarks from the Denver Mint and San Francisco Mint can add or subtract premiums depending on survival rates. Even common years gain appeal when found in high-grade condition, as serious numismatists seek well-struck examples.

Coin Condition

Condition is one of the most important Lincoln Wheat penny valuation factors. A coin that circulated heavily often shows worn detail, while uncirculated cents can retain strong luster and definition. 

High-grade examples certified by PCGS or NGC or endorsed with a CAC sticker command top premiums. Even within the same year and mintmark, price differences can be dramatic between a heavily worn coin and one with crisp detail.

Rarity and Collector Demand

Not all Wheat pennies are rare, but demand can still elevate value. Coins with limited survival numbers are more valuable. 

More common coins remain affordable but are still in circulation, adding collector appeal. True rarity paired with active demand drives some of the highest prices in the series.

Third-Party Certification

Independent grading by respected services like PCGS and NGC provides unbiased confirmation of a coin’s grade and authenticity. Certified coins often sell more quickly and for higher prices than raw examples, particularly when encapsulated in tamper-proof holders. 

Coins with additional endorsements, such as a green CAC sticker, assure buyers of superior quality. Certification is especially critical for scarce issues or high-value error coins frequently sold on eBay or through auction houses.

Lincoln Wheat Penny Key Dates

The price ranges listed below are based on current APMEX listings and represent prices for Uncirculated condition through MS 66. Coins with a higher grade are worth considerably more.

• 1909-S RD: $375–$3,650
• 1909-S VDB RD: $2,250–$15,900
• 1914-D RD: $29,000–$78,800
• 1917 Doubled Die Obverse RB: $4,000–$11,750
• 1922 No D Strong Reverse RB: $21,500–$109,250+
• 1922-D RD: $190–$11,030
• 1931-S RD: $210–$2,443
• 1944 Steel: $55,000–$200,000+
• 1944-D Steel: $38,500–$100,000+
• 1955 DDO BN: $2,855–$29,000
• 1955 DDO RD: $3,700–$137,500

1943 Lincoln Wheat Pennies

In 1943, the U.S. Mint temporarily struck cents on steel planchets coated with zinc to conserve copper for World War II. These “steel cents” are common, though many rusted or discolored over time. 

Rumors and Myths Surrounding Valuable Lincoln Wheat Pennies

You may have seen headlines such as “Lincoln Wheat penny $15 million,” “30 million dollar Lincoln Wheat penny,” “Lincoln Wheat penny million dollar value,” “Lincoln Wheat penny $177 million valuation,” or even “Lincoln Wheat penny billion dollar valuation,” but the truth is these claims are sensationalized and misleading. 

While rare coins such as the 1943 copper cent have sold for impressive sums, most Wheat pennies are worth only modest amounts. 

Misinformation often spreads online to attract attention, which can be confusing to new collectors. Accurate Lincoln Wheat penny values come from verified numismatists, established price guides, and documented auction results, not viral rumors.

Building a Rare Lincoln Wheat Penny Collection

Creating a meaningful Lincoln Wheat penny collection requires balancing affordability with rarity. Many collectors begin by assembling a complete 1909–1958 date-and-mintmark set, starting with affordable common years before gradually acquiring scarcer examples. 

Key rarities such as the 1909-S VDB, 1914-D, and 1922 Plain are often centerpieces. Collectors also enjoy specializing, pursuing high-grade examples or transitional issues where the coin’s composition changed. 

Storage is critical: using protective holders or albums helps prevent damage to delicate surfaces. Serious hobbyists rely on numismatists for authentication and may consult recent auction results to gauge fair market values. 

Whether built for investment or enjoyment, a focused Wheat cent collection offers a rewarding journey through American history and coinage artistry.

How To Evaluate a Valuable Lincoln Wheat Penny

Evaluating a Lincoln Wheat penny involves more than checking a price guide. Collectors should first identify the coin’s year and mintmark and verify authenticity, as counterfeits exist for rare dates. 

Next, examine the condition of the coin. Coins with minimal wear, strong strike, and original color bring premiums. Comparing the coin to grading standards published by services such as PCGS or NGC helps place it in the correct range, from Good to Mint State. 

Checking online platforms, such as coins sold on eBay, or realized auction prices provide additional market benchmarks, but buyers should weigh these against certified examples for accuracy. 

For potentially rare or high-value pieces, consulting professional numismatists ensures precise valuation. This layered approach helps determine whether a Wheat penny is simply collectible or one of the truly valuable pennies.

When To Have Rare Lincoln Wheat Pennies Professionally Graded

Not every Wheat penny requires third-party grading, but certain situations make it worthwhile. Coins believed to be rare varieties, such as the 1943 copper error or key dates with low mintage, benefit from authentication to prevent costly mistakes. 

High-grade examples, particularly those showing sharp detail and original luster, can see significant value increases when certified by PCGS or NGC or endorsed with a CAC sticker. 

Grading also protects coins by sealing them in tamper-evident holders, making them easier to sell confidently when the time comes. 

However, common cents with heavy wear generally cost more to grade than they’re worth. 

Collectors should reserve certification for scarce varieties, high-value coins, or high-grade examples where professional evaluation justifies the expense and helps establish credibility among fellow numismatists.

Trust Coinfully for Accurate Coin Appraisals and Competitive Offers

At Coinfully, we combine expert numismatic appraisal with a simple, seller-first process that’s ideal for Lincoln Wheat pennies and full collections. 

Founded as a family business by experienced numismatists, we emphasize transparent, market-leading offers and educating our clients so they have the full picture before making a decision.

When you request a free, no-pressure online appraisal, you’ll simply upload clear photos or a detailed inventory, and our specialists will review your submission and return a market-based valuation so you know exactly what you’re dealing with. 

For qualifying large or historically important collections, we offer a concierge at-home appraisal service where one of our experts travels to your location, performs a zero-pressure inspection, and, if you accept the offer, can complete the sale on site. 

Ready to get started? Contact Coinfully today to learn how much your Lincoln Wheat pennies are worth and receive a top-market offer.