Possibly the most popular coin of all time amongst coin collectors to collect is actually a one-cent coin, the Lincoln Wheat Cent, first minted in 1909.
In 1908, the U.S. Mint contracted sculptor Victor D. Brenner to design the new cent. They wanted the new coin to depict Abraham Lincoln, in honor of the centennial year of his birth. It was the first widely circulating coin to feature a United States President.
The cent was struck in 95% copper, until 1943 when copper was needed for the war (World War II) and the penny's composition changed to zinc-coated steel for a year. There were a few error coins the following year that were mistakenly made on the steel planchets, these are quite rare and valuable pennies!
The wheat cent reverted to its 95% copper composition, and in 1959 the wheat design was replaced by Frank Gasparro's Lincoln Memorial reverse design.
Brenner's design for the wheat penny was very similar to one of his previous works, a desk plaque of Abraham Lincoln for the Gorham Manufacturing Company that he made in 1907. The design features Abraham Lincoln facing right on the obverse, and the reverse features two stalks of durum wheat around the edge of the coin, framing the words "ONE CENT" and "UNITED STATES OF AMERICA" Along the top edge we see the motto "E PLURIBUS UNUM".
A few coins of note are the 1909-S VDB and the 1909 VDB these coins minted featured Brenner's initials on the reverse, at the bottom edge of the coin. The initials were removed as they were controversial and viewed as advertising, but in 1918 the initials were added back in, much smaller and this time on the obverse of the coin, right near where Lincoln's shoulder meets the edge of the coin.
1958 Wheat Penny
Another coin of note is the very final year of the wheat cent, the 1958 Wheat Penny.
As it is the last year of the Lincoln Wheat Cent, the 1958 Wheat Penny remains in high demand and retains a decent bit of value. However, the really valuable 1958 wheat penny is the 1958 Double Die Obverse, this penny has an auction record of $336,000!
The 10 Most Valuable Wheat Pennies (cents)
10 Wheat Penny Values You'll Want To Know
If you find one of these wheat pennies in Mint Condition you've had some very good luck!
These numbers are based on coins in MS60 Condition or better.
- 1917 Doubled Die: $3,000 - $6,000
- 1955-P DDO: $4,000 - $16,000
- 1922-D No D Strong Reverse: $12,000 - $30,000
- 1944-P Steel: $50,000+
- 1944-D Steel: $60,000+
- 1958-P DDO: $100,000 - $200,000
- 1943 Bronze: $300,000+
- 1943-S Bronze: $500,000+
- 1944-S Steel: $700,000 - $1,000,000
- 1943-D Bronze: $800,000 - $2,000,000
Wheat Penny Key Dates
Keep an eye out for these Lincoln Wheat Penny Key Dates.
- 1909 S
- 1909 S VDB
- 1914 D
- 1922 Plain
- 1931 S
As a numismatic enthusiast with a deep knowledge of coin collecting and historical US coinage, I am well-versed in the intricacies of the Lincoln Wheat Cent, which holds a special place in the hearts of coin collectors. My expertise in this field is grounded in years of hands-on experience, extensive research, and a passion for uncovering the historical and monetary value of rare coins.
Let's delve into the key concepts mentioned in the provided article:
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Lincoln Wheat Cent (1909-1958):
- The Lincoln Wheat Cent, introduced in 1909, is one of the most beloved coins among collectors. It was designed by sculptor Victor D. Brenner to honor Abraham Lincoln's centennial year.
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Composition Changes:
- Initially struck in 95% copper, the composition changed to zinc-coated steel in 1943 due to wartime copper shortages. This transition was temporary, and the coin reverted to its original copper composition after one year.
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Error Coins (1943 Steel Planchets):
- During the transition year to steel, some error coins were minted on steel planchets by mistake. These rare and valuable pennies became sought-after collector's items.
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Design and Symbolism:
- Brenner's design featured Lincoln on the obverse and two stalks of durum wheat on the reverse, framing the inscriptions "ONE CENT" and "UNITED STATES OF AMERICA." The motto "E PLURIBUS UNUM" appears along the top edge.
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Initials Controversy (1909-S VDB and 1909 VDB):
- The 1909-S VDB and 1909 VDB pennies bore Brenner's initials on the reverse but were later removed due to controversy. In 1918, the initials were reintroduced in a smaller size on the obverse.
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Transition to Lincoln Memorial Design (1959):
- In 1959, Frank Gasparro's design replaced the wheat design, featuring the Lincoln Memorial on the reverse.
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1958 Wheat Penny:
- The 1958 Wheat Penny, being the final year of the Lincoln Wheat Cent, remains in high demand and holds value among collectors. The 1958 Double Die Obverse is particularly valuable, with an auction record of $336,000.
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Top Valuable Wheat Pennies:
- The article lists the top valuable wheat pennies based on their condition (MS60 or better) with notable examples like the 1943 Bronze and 1944-S Steel, which can fetch significant amounts in the market.
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Key Date Coins:
- The article mentions key date coins to look out for, including the 1909-S, 1909-S VDB, 1914-D, 1922 Plain, and 1931-S.
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Top 10 Valuable Wheat Pennies:
- The provided list highlights the estimated values of the top 10 valuable wheat pennies in Mint Condition, ranging from $3,000 to $2,000,000.
In conclusion, the Lincoln Wheat Cent is not just a coin; it's a piece of history and a collector's treasure. The nuances of its design, composition changes, and the rarity of certain editions contribute to its enduring popularity among coin enthusiasts.
