That old penny in your pocket could be worth far more than just one cent. Rare wheat pennies, especially those with minting errors or limited production, have been known to sell for thousands—even hundreds of thousands—of dollars. Some viral rumors even claim that a single wheat penny could be worth $99 million. While that specific figure may be exaggerated, the underlying truth remains: some pennies are incredibly valuable.
In this guide, we’ll break down the most valuable wheat pennies, how to identify them, and where to sell them. Whether you’re a coin enthusiast or just stumbled upon an old penny, you might be holding onto a small fortune without even knowing it.
What Are Wheat Pennies?
Wheat pennies, officially called Lincoln Wheat Cents, were minted from 1909 to 1958. They get their name from the reverse design, which features two stylized wheat stalks. These coins were the first U.S. pennies to depict a real person—President Abraham Lincoln—to commemorate the 100th anniversary of his birth.
While many wheat pennies were mass-produced and remain common, certain years, mint marks, and error coins can be extremely rare and valuable.
The Most Valuable Wheat Pennies
Some wheat pennies are worth significantly more than their face value due to scarcity, historical significance, and minting errors. Below are the top three rarest and most valuable wheat pennies ever discovered.
1. 1943-D Bronze Wheat Penny – Worth up to $840,000+
During World War II, the U.S. Mint switched from copper to steel to preserve metal for wartime efforts. However, a few bronze planchets (blanks) from 1942 were mistakenly used in the 1943 production run. Only one verified 1943-D bronze penny exists, making it one of the rarest coins in U.S. history.
- Composition: Bronze (instead of wartime steel)
- Mint Location: Denver (D mint mark)
- Weight: 3.11 grams (compared to 2.7g steel pennies)
- Recent Sale Price: Sold for $840,000 at auction in 2010
2. 1909-S VDB Wheat Penny – Worth up to $360,000+
When the Lincoln cent debuted in 1909, it featured the initials “V.D.B.” for designer Victor David Brenner on the reverse side. However, public backlash over the visibility of the initials led to their removal after a limited production run. The San Francisco Mint (S mint mark) only produced 484,000 of these pennies, making them highly sought after today.
- Mint Location: San Francisco (S mint mark)
- Unique Feature: “VDB” initials on the bottom reverse
- Market Value: Up to $360,000+ in mint condition
3. 1955 Doubled Die Obverse Penny – Worth up to $125,000+
This coin features one of the most famous minting errors in U.S. history. The date and lettering on the obverse side appear clearly doubled due to a misalignment during the die creation process. Unlike the 1943-D Bronze or 1909-S VDB, this coin wasn’t rare because of limited production, but rather because of its highly visible die error.
- Circulation Estimate: 20,000 to 24,000 coins
- Market Value: Between $10,000 and $125,000, depending on condition
- How to Identify: Doubling is visible on the date and inscriptions, especially in “LIBERTY” and “IN GOD WE TRUST”
What Makes a Wheat Penny Valuable?
Several factors determine a wheat penny’s value:
| Factor | Explanation |
|---|---|
| Rarity | Fewer coins produced = higher value |
| Minting Errors | Mistakes like doubling or off-metal strikes increase collectibility |
| Mint Mark | Some mints (like San Francisco) produced fewer coins, making them rarer |
| Historical Significance | Coins from major historical periods, like WWII, tend to be worth more |
| Condition (Grading) | Higher-grade coins (MS-65 or better) sell for much more |
Coin Grading Scale
Coins are graded on a 1-70 scale, with 70 being a perfect, uncirculated coin.
- Poor (1-10): Heavily worn, barely identifiable
- Fine (20-40): Moderate wear but still recognizable
- Mint State (60-70): Uncirculated, nearly perfect condition
Professional grading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) authenticate and assign values to rare coins.
How to Check If Your Wheat Penny Is Valuable
Step 1: Check the Date and Mint Mark
Look at the year and the small letter below it:
- D = Denver Mint
- S = San Francisco Mint
- No Letter = Philadelphia Mint
If you have a 1909-S, 1943-D, or 1955 Doubled Die, your coin could be extremely valuable.
Step 2: Look for Errors or Doubling
Use a 10x magnifying glass to check for doubling on the date, letters, or inscriptions. Compare with verified error images from collector websites.
Step 3: Weigh Your Penny
- Steel pennies (wartime 1943) should weigh 2.7 grams
- Bronze pennies (regular wheat cents) weigh 3.11 grams
If you find a 1943 penny that weighs 3.11 grams, you could have a rare off-metal strike.
Step 4: Authenticate the Coin
Send your penny to PCGS or NGC for grading. Authentication ensures your coin is genuine and determines its market value.
Where to Sell Rare Wheat Pennies
If you’ve found a valuable wheat penny, here’s where to sell it:
- Auction Houses – Heritage Auctions, Stack’s Bowers
- Online Marketplaces – eBay, Etsy (ensure proper research before listing)
- Local Coin Dealers – Look for dealers registered with the American Numismatic Association (ANA)
- Coin Shows – Meet experienced collectors and buyers in person
- Online Coin Forums – Sites like CoinTalk or Reddit’s r/coins can help you determine value
That wheat penny in your drawer might just be a hidden gem. While the $99 million wheat penny is likely a myth, rare wheat pennies have been known to fetch hundreds of thousands of dollars.
Check the date, mint mark, weight, and possible errors to determine if your penny is valuable. If you think you’ve found something special, get it authenticated and graded—you might be sitting on a small fortune.
FAQs
What is the rarest wheat penny?
The 1943-D Bronze Wheat Penny is the rarest, with only one verified example.
Are all 1943 pennies valuable?
No, most 1943 pennies are made of steel and worth only a few cents. Only bronze 1943 pennies are rare and valuable.
Where can I authenticate my penny?
Use PCGS (www.pcgs.com) or NGC (www.ngccoin.com) for professional grading and authentication.
How can I sell my wheat penny?
Sell through auction houses, online marketplaces, or coin dealers for the best price.
