The Lincoln Wheat Penny is a famous American currency. This 1909 coin has been used for transactions and as a collector's item for over a century. Common Lincoln Wheat Pennies are worth a few cents, while uncommon ones can reach high prices.
A $1 billion Lincoln Wheat Penny is a myth—could it still be in circulation? Let's investigate rare coins, what makes them precious, and whether you can find one.
The Lincoln Wheat Penny was introduced in 1909 to honor President Lincoln. Instead of the Indian Head cent, it had Lincoln's face on the obverse and two wheat stalks on the reverse.
The currency was manufactured until 1958, with different mint marks and features to distinguish each year.
The Lincoln Wheat Penny was mostly a useful money for ordinary transactions. Some of these coins become desirable to collectors due to variances and minting faults. Collectors and aficionados hunt out rare coins to preserve the coin's legacy.
Not all Lincoln Wheat Pennies are equal. Most of these coins are worth one cent, but a small number are rare, minting faults, and historically significant. To value a Lincoln Wheat Penny, consider numerous aspects that might greatly impact its value.
The year and mint mark (the letter indicating where a coin was made) determine its worth. The controversial design of the 1909-S VDB penny makes it valuable. The coin became a collector's item once the “VDB” initials on the reverse were deleted shortly after its debut. Due to its low mintage, the 1914-D penny is valued.
Minting faults make Lincoln Wheat Pennies valuable. Famous mistake coins include 1943 copper pennies. Some copper planchets were used to strike pennies during World War II instead of steel. This blunder created a million-dollar coin. A 1943 copper cent sold for $1.7 million in 2010!
Coin condition greatly affects value. Preserved and barely worn coins are worth more than circulated ones. Grades vary from Poor (P-1) to Perfect Mint State (MS-70). Perfect coins sell for more than worn ones.
Coins follow supply and demand. Rare coins with fewer copies are worth more. Due to its low mintage, the 1909-S VDB penny is worth far more than a standard penny. More popular coins command greater prices.