Wheat pennies are one of the most beloved coins among collectors, with many of them being highly prized due to their historical significance and rarity. Struck from 1909 to 1958, these pennies feature two ears of wheat on the reverse side, making them instantly recognizable. While most wheat pennies are worth just a few cents, some rare examples have fetched astonishing prices, even surpassing $50,000! In this article, we will explore the six most prized wheat pennies, their remarkable stories, and why they are worth so much.
What Makes Wheat Pennies Special?
Wheat pennies were first minted in 1909 to replace the Indian Head cent. Designed by Victor David Brenner, they feature an image of Abraham Lincoln on the obverse and two stalks of wheat on the reverse. These coins were struck for nearly half a century, making them a staple of everyday currency during that time. While most wheat pennies are relatively easy to find, a few key dates and rare errors have made certain coins worth a lot more.
Now, let’s take a look at the six wheat pennies that have become highly coveted and are worth over $50,000—or even more!
1. 1909-S VDB Wheat Penny
The 1909-S VDB wheat penny is arguably the most famous and valuable of all the wheat cents. It was struck in San Francisco with the initials “VDB” (for Victor David Brenner, the designer) placed on the reverse side. Due to a backlash over the inclusion of the initials, the mint removed them after just a short period of production. Only around 484,000 of these coins were made, making it extremely rare today. In top condition, this penny can be worth over $100,000, with some examples selling for much higher at auctions.
Key Features:
- Low mintage of 484,000
- The “VDB” initials controversy
- Worth over $100,000 in top condition
2. 1914-D Wheat Penny
The 1914-D wheat penny is another highly sought-after coin among collectors. With a mintage of just 1.1 million, this coin is considered one of the key dates in the wheat penny series. Due to its low mintage and the fact that many of these coins were poorly struck, the 1914-D is much rarer than most other pennies from that year. Depending on the condition, it can easily sell for more than $50,000, with uncirculated examples reaching even higher prices.
Key Features:
- Mintage of 1.1 million
- A key date penny in the wheat series
- Worth over $50,000 in good condition
3. 1922 No D Wheat Penny
The 1922 No D wheat penny is famous for its rare minting error. The coin was struck without the “D” mintmark, which indicates the Denver mint. This error occurred because the mint die was worn down, causing the “D” to be missing. While most 1922 pennies feature the “D,” the absence of the mintmark on this specific coin makes it incredibly rare. In high grades, this penny can fetch over $50,000, with some examples even selling for more.
Key Features:
- Minting error with no “D” mintmark
- Very rare and highly valuable
- Can be worth over $50,000
4. 1931-S Wheat Penny
The 1931-S wheat penny is considered one of the scarcest coins in the wheat penny series, with only 866,000 coins minted. Because of its low mintage, it’s hard to find this coin in excellent condition, which drives its value up. In fine or better grades, this coin can easily exceed $50,000, especially for well-preserved examples. The 1931-S is a must-have for serious wheat penny collectors.
Key Features:
- Mintage of 866,000
- Scarce and rare in high grades
- Worth over $50,000 in excellent condition
5. 1955 Double Die Wheat Penny
The 1955 double die wheat penny is one of the most famous error coins in U.S. numismatics. This error occurred when the coin was struck twice, causing the date and lettering to appear doubled. The 1955 double die penny has become a sought-after coin, with collectors willing to pay top dollar for well-preserved examples. Depending on the grade, these coins can easily fetch over $50,000.
Key Features:
- Double die error (doubled date and lettering)
- Highly sought after by collectors
- Worth over $50,000 in good condition
6. 1924-D Wheat Penny
The 1924-D wheat penny is another key date coin with a low mintage of just 1.2 million. Due to its rarity and the fact that most of the coins were poorly struck, it’s difficult to find this coin in excellent condition. As a result, it’s highly prized by collectors, with uncirculated examples reaching values over $50,000. This penny remains one of the more elusive coins for collectors trying to complete a wheat penny set.
Key Features:
- Mintage of 1.2 million
- Rare in high grades
- Can be worth over $50,000 in top condition
Conclusion
Wheat pennies are a key part of American coinage history, and while most of them are not worth much, there are a few rare and highly prized examples that can be worth tens of thousands of dollars or more. From the famous 1909-S VDB penny to the elusive 1922 No D, these rare wheat pennies are highly sought after by collectors. If you happen to find one of these coins in your pocket change or in an old collection, you could be holding onto a small fortune!
FAQs
1. What makes a wheat penny valuable?
Wheat pennies become valuable due to their rarity, low mintage, minting errors, or historical significance. Certain key dates or errors can make them worth a lot more.
2. How can I tell if my wheat penny is worth more than face value?
Look for rare dates, mint marks, or any obvious errors, such as doubled lettering or missing mintmarks. The condition of the coin also plays a significant role in its value.
3. Why is the 1909-S VDB wheat penny so valuable?
The 1909-S VDB penny is valuable because of its low mintage and the controversy over the “VDB” initials, which were quickly removed. This made it a rare and highly sought-after coin.
4. How can I sell my rare wheat penny?
You can sell your rare wheat penny through coin dealers, online auctions, or specialized numismatic auctions. Make sure to have the coin authenticated to ensure you get its true value.
5. Are all wheat pennies worth over $50,000?
No, only specific rare wheat pennies from certain years or with errors are worth over $50,000. Most wheat pennies are worth just a few cents to a few dollars.