Do Not Spend This Wheat Penny: How to Spot Them

Wheat pennies may seem like ordinary coins, but some of them are worth much more than their face value. In fact, certain rare wheat pennies could be worth hundreds or even thousands of dollars! If you’re lucky enough to find one, it might be a treasure in your pocket. But how can you tell which wheat pennies are valuable? In this guide, we’ll help you identify the rare wheat pennies that you should never spend.

What Is a Wheat Penny?

Wheat pennies, officially known as Lincoln Wheat Cents, were produced in the United States from 1909 to 1958. They feature Abraham Lincoln on the front (obverse) and two stalks of wheat on the back (reverse), which is where the coin gets its name. Even though they stopped making wheat pennies over 60 years ago, millions of them are still in circulation.

Why Are Some Wheat Pennies Valuable?

Not all wheat pennies are worth more than one cent. What makes certain wheat pennies valuable are factors like rarity, condition, and minting errors. Let’s break down why these coins are prized by collectors:

• Rarity: Some wheat pennies were minted in limited quantities, making them harder to find.
• Errors: Coins with minting mistakes are rare and highly sought after.
• Condition: Coins in excellent condition (known as “uncirculated” or “mint state”) are worth more than heavily used ones.

How To Spot a Valuable Wheat Penny

Here are some of the most valuable wheat pennies and what to look for when identifying them.

1. 1909-S VDB Wheat Penny

The 1909-S VDB is one of the rarest and most valuable wheat pennies. It was the first year the Lincoln penny was minted, and only 484,000 of these coins were made at the San Francisco Mint. The designer’s initials, “V.D.B.” (for Victor David Brenner), were placed on the reverse, which led to the penny being called the “VDB penny.”

What To Look For:

• Year: 1909
• Mint Mark: “S” under the date (stands for San Francisco)
• VDB: Look for the small initials “V.D.B.” on the bottom of the reverse side, near the rim.

A 1909-S VDB penny in mint condition can be worth up to $2,000 or more.

2. 1943 Copper Wheat Penny

In 1943, the U.S. Mint produced most pennies from steel due to a copper shortage during World War II. However, a small number of 1943 pennies were mistakenly struck in copper. These rare copper pennies are worth a fortune today!

What To Look For:

• Year: 1943
• Color: If the penny is copper-colored instead of steel (which is silvery), it could be one of the rare 1943 copper wheat pennies.

A 1943 copper penny in good condition can sell for over $100,000!

3. 1914-D Wheat Penny

Another rare and valuable wheat penny is the 1914-D penny, minted in Denver. Only about 1.2 million of these coins were made, making them hard to find.

What To Look For:

• Year: 1914
• Mint Mark: “D” under the date (stands for Denver)

A 1914-D penny in mint condition can fetch up to $5,000 or more.

4. 1922 Plain Wheat Penny

Most 1922 pennies were made at the Denver Mint, but some were struck without the “D” mint mark. These “plain” pennies are rare and highly valuable.

What To Look For:

• Year: 1922
• Mint Mark: No “D” under the date (making it a “plain” penny)

A 1922 plain wheat penny in good condition can be worth several thousand dollars.

5. 1955 Doubled Die Wheat Penny

The 1955 Doubled Die penny is one of the most famous error coins. Due to a misalignment during the minting process, the design on the coin appears doubled, especially on the date and lettering.

What To Look For:

• Year: 1955
• Doubled Features: Look for obvious doubling on the date and the words “LIBERTY” and “IN GOD WE TRUST.”

A 1955 Doubled Die wheat penny can be worth up to $1,500 or more depending on its condition.

6. 1931-S Wheat Penny

This penny was minted in small quantities during the Great Depression, which makes it one of the more valuable wheat pennies today.

What To Look For:

• Year: 1931
• Mint Mark: “S” under the date (for San Francisco)

A 1931-S penny in excellent condition can be worth over $100.

7. 1909-S Wheat Penny (Non-VDB)

Similar to the 1909-S VDB penny, this version was minted in San Francisco but without the “V.D.B.” initials. It’s still rare and valuable, even without the initials.

What To Look For:

• Year: 1909
• Mint Mark: “S” under the date

A 1909-S wheat penny without the VDB can be worth around $400 to $1,000.

How To Check Your Wheat Pennies for Value

If you’ve found a wheat penny and want to know if it’s valuable, follow these steps:

1. Check the Year and Mint Mark: Some years and mint marks are rarer than others. Coins from the early 1900s and those with “S” or “D” mint marks are often more valuable.
2. Look for Errors: Examine the coin closely for minting mistakes, like doubling or missing mint marks. Errors can make your penny worth much more.
3. Check the Condition: Coins in better condition are more valuable. If your penny is shiny, with few scratches or signs of wear, it could be worth more than a heavily used coin.
4. Get Your Coin Graded: Professional coin grading services like PCGS or NGC can assess the quality of your coin and give it a grade, which can help determine its value.

Where To Sell Valuable Wheat Pennies

If you think you have a valuable wheat penny, you can sell it through various channels:

• Coin Dealers: A reputable coin dealer can offer you a fair price.
• Online Auctions: Websites like eBay or Heritage Auctions are great platforms for selling rare coins.
• Coin Shows: Attending coin shows gives you the opportunity to meet collectors and sell your coins directly.

Conclusion

Wheat pennies are more than just old coins; some of them can be worth a significant amount of money! From rare mint marks to unique errors, these pennies are prized by collectors. If you think you have one, take the time to examine it closely—you could be holding a small fortune in your hands.

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