The Lincoln Wheat penny, minted from 1909 to 1958, represents one of America’s most beloved and collected coin series.
Designed by Victor David Brenner at President Theodore Roosevelt’s request, these small copper discs have transcended their humble face value to become prized collectibles and, in certain rare cases, legitimate financial treasures.
While most Wheat pennies can be acquired for modest sums, a select few examples command extraordinary prices that transform them from pocket change to investment-grade assets.
This article explores five of the most valuable Lincoln Wheat pennies, examining their origins, distinguishing characteristics, historical significance, and current market values.
These exceptional coins demonstrate how factors including mintage quantities, historical circumstances, preservation quality, and production errors can elevate ordinary cents to extraordinary heights in the numismatic marketplace.
The 1909-S VDB Penny: A First-Year Rarity
The 1909-S VDB penny represents the perfect intersection of historical significance, limited production, and compelling backstory.
This coin marked the first year of Lincoln cent production and was minted at the San Francisco facility, as indicated by the “S” mintmark.
What makes this coin truly special, however, are the designer’s initials “VDB” (for Victor David Brenner) prominently placed on the reverse.
The presence of these initials sparked immediate controversy when the coin was released. Critics considered the placement and size of the initials too prominent and self-promoting for a coin designer.
The public debate quickly reached Treasury Secretary Franklin MacVeagh, who ordered production halted and the initials removed from the design.
This abrupt production stoppage created an instant rarity, as only 484,000 examples had been struck at the San Francisco Mint before the design change.
This mintage figure—minuscule compared to the 27.9 million 1909 VDB cents produced at Philadelphia—ensured the 1909-S VDB would become the key date in the Wheat penny series.
The coin’s status as the first Lincoln cent with a fascinating origin story has made it a cornerstone of American numismatics, often described as the most famous regular-issue American coin.
Today, the 1909-S VDB commands impressive prices across all conditions. Heavily worn examples in Good (G-4) condition typically sell for $700-$900, while coins in Extremely Fine (XF-40) condition bring $1,500-$2,000.
Uncirculated examples with original mint luster (MS-63) fetch $2,500-$3,500, and superb gem specimens (MS-66 or better) can exceed $10,000. The finest known examples, graded MS-67 with perfect red color, have sold for over $100,000 at auction.
Beyond its monetary value, the 1909-S VDB represents a pivotal moment in American coinage history—the introduction of Abraham Lincoln as the first historical figure on a circulating U.S. coin, combined with a compelling controversy that created an instant numismatic legend. For many collectors, acquiring this coin represents a milestone achievement, regardless of condition.
The 1914-D Penny: The Sleeper Key Date
Unlike some valuable coins that gained immediate recognition, the 1914-D penny achieved its prestigious status gradually.
Minted at the Denver facility during a period when collecting coins by mint mark was not yet common practice, this issue’s significance went largely unnoticed until decades after its production.
With a mintage of 1,193,000 pieces, the 1914-D wasn’t immediately recognized as scarce compared to some other dates in the series.
The 1914-D’s value stems primarily from its low survival rate in better conditions. Few examples were set aside when new, as collectors of the era typically sought only one example of each date rather than each mint mark variety.
Additionally, these coins circulated heavily during an era when one cent held substantial purchasing power, leading to extensive wear on most surviving specimens.
What distinguishes the 1914-D from other low-mintage Wheat cents is the combination of its early date in the series, lack of contemporary collector awareness, and extensive circulation. By the time collectors recognized its relative scarcity in the 1930s and 1940s, most examples had already suffered significant wear.
Current market values reflect this scarcity across all grades. Heavily circulated examples in Good (G-4) condition command $200-$300, while Very Fine (VF-20) specimens bring $800-$1,000.
Uncirculated examples have become exceptionally difficult to locate, with MS-63 specimens valued between $3,000 and $5,000.
Gem examples with original mint red color can exceed $10,000, and the finest known specimens, graded MS-67 Red, have brought $150,000 or more at auction.
The 1914-D illustrates an important lesson in numismatics: sometimes the most valuable coins aren’t those that experience production problems or contain obvious errors, but rather those that simply weren’t recognized as important when issued.
This “sleeper” status has made the 1914-D arguably more difficult to find in higher grades than even the famous 1909-S VDB, despite its slightly higher original mintage.
The 1922 “No D” Penny: The Accidental Rarity
The 1922 “No D” cent resulted from a unique set of circumstances that created one of the most distinctive error varieties in American coinage. During 1922, only the Denver Mint produced Lincoln cents, meaning every 1922 penny should display a “D” mintmark.
However, due to production problems, a small number of coins were struck from dies where the mintmark was completely absent, creating the famous “No D” variety.
The error occurred when dies became filled with grease and dirt during the minting process, causing details to strike weakly or not at all. In the most extreme cases, the mintmark completely disappeared.
Mint workers, attempting to extend die life during a period of heavy production demands, overzealously polished worn dies, inadvertently removing the mintmark entirely from some dies.
Numismatic research has identified several die pairs involved in producing 1922 cents with weak or missing mintmarks. True collectible “No D” cents come specifically from one die pair known as Die Pair 2, where the mintmark is completely absent rather than just weakly struck.
These coins also show other characteristic features, including a weak reverse and certain diagnostic marks that experts use for authentication.
The market values for genuine 1922 “No D” cents reflect both their rarity and the challenge of proper attribution. Circulated examples in Good (G-4) condition typically sell for $500-$750, with Very Fine (VF-20) specimens bringing $1,500-$2,000. Uncirculated examples are exceptionally rare, with MS-63 specimens valued at $25,000 or more. The finest known examples have sold for well over $100,000 at auction.
The 1922 “No D” penny’s appeal extends beyond its rarity to its status as a genuine mint error that created what appears to be a Philadelphia issue from a year when no cents were struck there.
This combination of historical circumstance, production error, and visual distinction makes it one of the most interesting rarities in the Lincoln cent series and a coin that tells a compelling story about Mint production practices during the early 20th century.
The 1943 Copper Penny: The Wartime Mistake
The 1943 copper penny stands as perhaps the most famous error coin in American numismatic history, combining extreme rarity with a fascinating historical context linked to World War II.
During 1943, the U.S. Mint temporarily substituted zinc-coated steel for the traditional copper composition in pennies to conserve copper for military applications.
However, a minute number of copper planchets from 1942 apparently remained in the coin presses and were struck with 1943 dates, creating an instantly recognizable rarity.
These copper cents were produced inadvertently at all three operating mints—Philadelphia, Denver, and San Francisco.
Approximately 20-25 copper cents have been authenticated from the Philadelphia Mint, while the Denver and San Francisco examples are exceedingly rare, with fewer than 10 specimens confirmed between both mints.
This scarcity, combined with the coin’s distinctive appearance compared to the silvery steel cents of 1943, has created enormous collector demand.
The historical significance of these error coins extends beyond their rarity. They represent tangible evidence of America’s wartime production adjustments and the occasional imperfections in even highly controlled manufacturing processes.
Each authenticated specimen serves as a metallic witness to one of the most challenging periods in American history.
Market values for 1943 copper cents rank among the highest for any American coin error. Even heavily circulated examples have sold for hundreds of thousands of dollars, while well-preserved specimens regularly command over $1 million at auction.
The finest known examples, particularly those from the Denver and San Francisco mints, could potentially bring several million dollars if offered publicly.
The extraordinary value of these pennies has unfortunately led to countless counterfeit specimens, typically created by copper-plating genuine 1943 steel cents or altering dates on 1948 pennies.
Authentic examples must be carefully authenticated through metallurgical testing, weight verification (genuine copper cents weigh 3.11 grams versus 2.7 grams for steel cents), and expert die analysis.
The nonmagnetic property of copper (versus the magnetic steel cents) provides a simple first test, but professional authentication remains essential for any potentially valuable specimen.
The 1955 Doubled Die Obverse Penny: The Spectacular Error
The 1955 Doubled Die Obverse cent represents one of the most visually dramatic and widely recognized error varieties in American coinage.
Unlike some rare coins whose value derives from limited mintage or historical significance, the 1955 Doubled Die achieves its status through a spectacular minting error visible to the naked eye without magnification—a characteristic that has made it appealing to both serious numismatists and casual collectors.
The error occurred during the die creation process when the hub imparted the design onto a working die twice at slightly different angles.
This misalignment created a pronounced doubling effect most visible in the date, the word “LIBERTY,” and the motto “IN GOD WE TRUST.”
Approximately 20,000-24,000 examples were struck before the error was discovered, with many entering circulation through cigarette vending machines before awareness of the variety spread.
What makes the 1955 Doubled Die particularly significant is the extent and clarity of the doubling. Unlike many minor doubled dies that require magnification to detect, this error produces doubling visible from arm’s length, creating an immediately recognizable variety that captures attention even from non-collectors.
The doubling appears as a distinct secondary image rather than merely thickened design elements, making it both dramatic and unmistakable.
Market values for the 1955 Doubled Die reflect both its visual appeal and relative obtainability compared to some other rarities.
Circulated examples in Fine (F-12) condition typically sell for $1,200-$1,500, while Extremely Fine (XF-40) specimens bring $2,000-$2,500.
Uncirculated examples with original mint luster (MS-63) fetch $3,000-$4,000, and superb gem specimens (MS-65 or better) with full red color can exceed $10,000. The finest known examples have brought over $100,000 at auction.
The 1955 Doubled Die’s fame extends beyond numismatic circles into popular culture, mentioned in numerous books and articles about valuable coins that might be found in circulation.
This mainstream recognition has helped maintain strong demand and values even as other coin varieties have fluctuated in popularity.
These 5 Lincoln Wheat Penny coins worth is $86 Million each
These five exceptional Lincoln Wheat pennies demonstrate how factors including production errors, historical circumstances, limited mintages, and preservation quality can transform humble one-cent coins into investment-grade assets worth thousands or even millions of dollars.
Their stories illustrate both the technical aspects of coin production and the human elements of history, collector psychology, and market dynamics that determine numismatic value.
For collectors and investors alike, these rarities represent the pinnacle of Lincoln cent collecting—coins that combine historical significance, compelling stories, and extraordinary value in a small copper package.
Their continued appreciation over decades demonstrates the enduring appeal of truly exceptional numismatic treasures, regardless of their face value.
Perhaps most intriguingly, these valuable pennies remind us that extraordinary items can sometimes hide in ordinary places.
While finding one of these rarities in circulation today remains highly unlikely, their existence encourages the examination of common coins with uncommon attention—a habit that has rewarded observant collectors throughout numismatic history and continues to fuel the enduring popularity of coin collecting in America.