The Lincoln Wheat Penny (1909–1958) is one of the most recognizable and collectible coins in U.S. history. While most are worth only their face value, some rare varieties have sold for hundreds of thousands—or even millions—of dollars.
If you’ve ever wondered which Wheat Pennies are the most valuable, here are five of the rarest and most expensive ones that continue to captivate collectors and investors alike.
1. The 1943 Bronze Cent: A $1.7 Million Wartime Mistake
The 1943 Bronze Lincoln Wheat Penny is one of the most famous and valuable error coins in American history.
How Did This Coin Happen?
During World War II, the U.S. Mint switched from copper to zinc-coated steel to conserve copper for war supplies. However, a few leftover copper planchets from 1942 were mistakenly used to strike some 1943 pennies.
- Only 20 to 25 of these bronze cents are known to exist, minted in Philadelphia, Denver, and San Francisco.
- The rarest is the 1943-S bronze cent, with only six known specimens.
Value
Depending on condition, these coins can fetch anywhere from $175,000 to $1.7 million. In 2010, a 1943 Philadelphia bronze cent graded MS-64 sold for $1.7 million.
How to Identify It
- Weight: 3.11 grams (Steel pennies weigh 2.7 grams).
- Magnet Test: Bronze cents are NOT magnetic, while steel pennies will stick to a magnet.
- Authentication: Must be certified by PCGS or NGC to confirm authenticity, as counterfeits exist.
2. The 1944 Steel Cent: A $400,000 Reverse Error
The 1944 Steel Wheat Penny is essentially the opposite of the 1943 bronze penny—a rare case of steel planchets being struck when production returned to copper.
How Did This Coin Happen?
- In 1944, the U.S. Mint switched back to bronze (copper) pennies, but a few leftover steel planchets from the previous year were accidentally used.
- There are only 30 confirmed specimens across all three mints (Philadelphia, Denver, and San Francisco).
- The 1944-S steel cent is the rarest and sold for $373,750 in 2008.
Value
- Depending on the condition, 1944 Steel Cents sell for between $75,000 and $400,000.
- The highest recorded sale for a Mint State 66 specimen was $373,750.
How to Identify It
- Weight: 2.7 grams (copper pennies weigh 3.11 grams).
- Magnet Test: Steel cents will stick to a magnet; copper pennies will not.
- Color: Steel cents have a silvery-gray appearance.
3. The 1909-S VDB Cent: The Birth of a Classic
The 1909-S VDB Wheat Penny was the first Lincoln cent ever minted, making it one of the most iconic and collectible coins in U.S. history.
Why Is It So Valuable?
- Designed by Victor David Brenner, the initials “VDB” appeared on the reverse of the coin, but public backlash led to their removal.
- Only 484,000 were minted, an extremely low number compared to other Wheat Pennies.
Value
- In circulated condition: $700–$2,500.
- In uncirculated condition: $3,500 to $50,000.
How to Identify It
- Look for “VDB” at the bottom of the reverse side of the coin.
- The mint mark “S” (San Francisco) will be located under the date.
4. The 1922 “No D” Cent: A Unique Printing Error
The 1922 No D Lincoln Wheat Penny is the only U.S. coin where a mint mark completely disappeared due to a striking error.
How Did This Coin Happen?
- In 1922, only the Denver Mint produced pennies (no pennies were made in Philadelphia or San Francisco).
- Due to worn-out dies and dirt buildup, the “D” mint mark disappeared on some coins, making them highly collectible.
Value
- Circulated: $5,000 to $40,000.
- Uncirculated: MS-63 specimens have sold for $25,000–$35,000.
How to Identify It
- The mint mark “D” is completely missing under the date.
- A strong, well-defined strike increases value.
5. The 1955 Doubled Die Penny: A $50,000 Modern Classic
The 1955 Doubled Die Lincoln Wheat Penny is one of the most famous error coins in U.S. history and is highly sought after by collectors.
How Did This Coin Happen?
- A misalignment during the minting process caused a doubled image of the words “IN GOD WE TRUST” and “LIBERTY”.
- The doubling is so extreme that it can be seen with the naked eye—making it one of the most dramatic mint errors ever.
Value
- Fine condition: $1,500–$2,000.
- Mint State 65 (MS-65): $25,000 to $50,000.
How to Identify It
- Look for strong doubling in the lettering, especially on “LIBERTY” and the date “1955”.
- The doubling should be bold and clear, not slight or fuzzy.
Which of These Coins Are Good Investments?
If you’re looking to invest in rare Lincoln Wheat Pennies, consider these:
- For New Collectors: The 1909-S VDB and 1955 Doubled Die are more accessible and increase steadily in value.
- For Serious Collectors: The 1943 Bronze and 1944 Steel Cents are the holy grails of Wheat Pennies but are extremely rare and expensive.
Before Buying or Selling
- Always verify authenticity with PCGS or NGC.
- Beware of counterfeits—many fake 1943 bronze and 1944 steel cents exist.
- Store coins properly in protective cases to maintain their condition and value.
Final Thoughts: Could You Have One of These Coins?
The Lincoln Wheat Penny series is full of hidden treasures, and some of these rare coins could still be out there in circulation—waiting to be discovered.
If you ever come across an old penny, take a closer look—you just might be holding a six-figure piece of history.
Happy hunting!