Lincoln Wheat Penny Value Chart: Rare $30M Coins & Key Dates

The $2.3 Million Mystery: Lincoln Wheat Penny Values Decoded

Historical Significance: 1st US Coin Featuring a Real Person (1909)

When the U.S. Mint released the Lincoln Wheat Cent in 1909, it broke with over a century of tradition.

It became the first U.S. coin to feature a real person, replacing classical allegories with the unmistakable face of Abraham Lincoln.
Designed by Victor David Brenner, it debuted on the centennial of Lincoln's birth.
Its reverse—a pair of wheat ears—was a symbol of prosperity and growth, but the real story was on the obverse: a bold shift in how America honored its heroes.

The initials "V.D.B." on the reverse caused controversy and were removed shortly after, creating an instant rarity in the 1909-S VDB—a coin that collectors still chase today, as it's a valuable Lincoln Wheat penny.

obverse and reverse of a Brown 1909 S VDB penny

Why Do Some Lincoln Pennies Sell for Millions?

Not all these coins are created equal. While most are worth just a few cents, a select few may be in a Lincoln Wheat penny $177 million valuation list. Here's what sets them apart:

1. Rarity

The 1909-S VDB, with just 484,000 minted, is the holy grail of early Lincoln cents.
Low-mintage dates like the 1931-S and 1914-D also hold strong collector appeal.

2. Mint Errors

The 1943 Bronze Cent. During WWII, pennies were supposed to be made from steel to conserve copper. But a few bronze planchets slipped through the presses. One sold for $2.3 million—making it the most valuable Lincoln cent ever.
The 1955 Doubled Die Obverse, with its eerie, doubled inscriptions, remains one of the most iconic U.S. coin errors.
The 1922 "No D" error, where Denver-minted coins lost their mint mark due to worn dies, is a fascinating rarity that commands thousands.

3. Composition Counts

Most pennies are copper. But the 1943 Steel Cent, coated in zinc, stands out with its silvery color—valuable in high grade.
Even more valuable: the accidental 1944 Steel Cent, struck on leftover wartime planchets when production had returned to copper. These are ultra-rare anomalies.

Top 10 Most Valuable Lincoln Wheat Pennies Ever Sold

Rank	Year	Mint Mark	Variety / Feature	Grade	Sale Price	Auction House & Year
1	1943	D	Bronze Planchet	PCGS MS64BN	$1,700,000	Legend Rare Coin Auctions, 2010
2	1943	— (Phila.)	Bronze Planchet	PCGS MS63BN	$840,000	Stack's Bowers, 2021
3	1944	S	Steel Planchet	PCGS MS66	$408,000	Heritage Auctions, 2021
4	1909	S VDB	First Year, Low Mintage	PCGS MS67RD	$258,500	Stack's Bowers, 2014
5	1944	— (Phila.)	Steel Planchet	NGC MS64	$180,000	Heritage Auctions, 2021
6	1922	No D	Strong Reverse Variety	PCGS MS64BN	$74,750	Heritage Auctions, 2008
7	1955	—	Doubled Die Obverse	PCGS MS65+RD	$50,300	Heritage Auctions, 2018
8	1914	D	Key Date	PCGS MS66+RD	$29,375	Heritage Auctions, 2018
9	1931	S	Depression-Era Low Mintage	PCGS MS66RD	$18,600	Heritage Auctions, 2004
10	1909	S	No VDB	PCGS MS67RD	$16,100	Heritage Auctions, 2006

1. 1943-D Bronze Cent — $1,700,000

1943-D Bronze Cent, one of the most valuable lincoln wheat penny pieces

Grade: PCGS MS64BN
Auction: Legend Rare Coin Auctions, January 2010

You may have heard about a very rare 1943 bronze Lincoln Wheat penny is worth $2.3 million. Not so much, but also expensive is the 1st in our list.

In 1943, the U.S. Mint shifted cent production from bronze to zinc-coated steel to conserve copper for WWII. But in Denver, a single rare Lincoln Wheat penny 1943 planchet from the previous year somehow remained in the machinery. The result? A one-of-a-kind coin—the only confirmed 1943-D Lincoln cent struck on a bronze planchet.

This specimen features deep brown surfaces, even luster, and remarkably well-preserved detail for a coin that should not exist. Its uniqueness and eye appeal led to the 1943-D Lincoln bronze Wheat penny record-breaking sale of $1.7 million, making it the most expensive Lincoln cent ever sold and one of the rarest U.S. coins in existence.

2. 1943 Bronze Cent (Philadelphia) — $840,000

1943 Bronze Cent (Philadelphia) with a high lincoln wheat penny value

Grade: PCGS MS63BN
Auction: Stack's Bowers Galleries, March 2021

Here's another rare 1943 Lincoln Wheat penny. Philadelphia also mistakenly struck a few 1943 bronze cents. With the vast majority made of steel, these bronze strays are incredibly rare—only about 12 examples are known from the Philadelphia Mint. This coin, graded MS63BN, displays chocolate-brown surfaces with sharp details and only minor contact marks.

The mistake likely occurred at the start of a production run, when leftover bronze blanks from 1942 were not removed. Yes, it's not a Lincoln Wheat penny value $4 million, but its error status and solid condition explain why this example fetched $840,000.

3. 1944-S Steel Cent — $408,000

1944-S Steel Cent that is a rare lincoln wheat penny

Grade: PCGS MS66
Auction: Heritage Auctions, August 2021

After reverting to copper in 1944, the U.S. Mint unintentionally used leftover steel blanks at the San Francisco facility. This 1944 Lincoln Wheat penny (S) is the finest graded example, earning PCGS MS66 and displaying icy, reflective surfaces with a faint blue-gray hue typical of WWII steel planchets.

Only two or three 1944-S steel cents are confirmed, making this coin ultra-rare by both date and composition. It sold for a staggering $408,000, setting a new benchmark for transitional errors and reinforcing the enduring appeal of wrong-planchet cents.

Some collectors even believe that such a coin can be a Lincoln Wheat penny $159 million value piece.

4. 1909-S VDB — $258,500

Grade: PCGS MS67RD
Auction: Stack's Bowers, July 2014

You already know that a Lincoln Wheat penny, minted 1909-1958, rare variations can be worth millions. Here's the next one.

The 1909-S VDB penny is the most iconic regular-issue Lincoln cent. With just 484,000 coins minted, it combines historical importance (first year of issue, first real person on U.S. coinage) with political controversy (removal of designer Victor D. Brenner's initials due to public backlash).

This particular coin, graded MS67RD, is tied for the finest known. The surfaces blaze with original red luster, and the strike is razor-sharp, with every wheat stalk and detail on Lincoln's profile fully defined. It brought $258,500 at auction, not a Lincoln Wheat penny $2.2 billion value,—but proof that even non-error Wheat Cents can command six figures if preserved perfectly.

5. 1944 Steel Cent (Philadelphia) — $180,000

Grade: NGC MS64
Auction: Heritage Auctions, January 2021

While 1944 cents were supposed to return to bronze, a small number of leftover 1943 steel blanks were mistakenly used. The Philadelphia Mint produced the largest number of steel planchet errors in 1944, but they remain exceptionally rare, with fewer than 20 known.

This MS64 example features smooth steel-gray fields, minimal spotting, and a well-centered strike. It stands as a testament to the chaotic transition of wartime minting. Its $180,000 sale cements its place among the most valuable post-war cents ever discovered. Who knows, it may become a Lincoln Wheat penny $15 million worth specimen!

6. 1922 No D (Strong Reverse) — $74,750

1922 No D (Strong Reverse) - rare lincoln wheat penny

Grade: PCGS MS64BN
Auction: Heritage Auctions, February 2008

Here's the next one from the Lincoln Wheat penny value chart. In 1922, all Lincoln cents were minted in Denver. However, one die pair—overused and poorly aligned—produced coins missing the "D" mint mark entirely. Only the variety with a strong reverse (Die Pair #2) is recognized as a collectible error.

This coin, MS64BN, is among the most iconic rare Lincoln Wheat penny examples of the variety. Its surfaces are smooth and evenly toned, with crisp detail on the wheat ears and Lincoln's coat.

It sold for $74,750, marking the high-end value of one of the most popular die varieties in U.S. coinage.

7. 1955 Doubled Die Obverse — $50,300

1955 Doubled Die Obverse iconic rare lincoln wheat penny

Grade: PCGS MS65+RD
Auction: Heritage Auctions, June 2018

Not a 30 million dollar Lincoln Wheat penny, but still valuable. No Lincoln cent is more famous than the 1955 Doubled Die Obverse. The doubling on "LIBERTY," "IN GOD WE TRUST," and the date is bold and unmistakable—easily visible to the naked eye.

This example, graded MS65+RD, is one of the finest red specimens known, with vivid copper luster and minimal contact. It sold for $50,300.

8. 1914-D — $29,375

Grade: PCGS MS66+RD
Auction: Heritage Auctions, February 2018

The 1914-D is the key date of the early rare Lincoln Wheat pennies outside of the 1909-S VDB. With just over 1.1 million minted, most circulated heavily. This specimen, however, is graded MS66+RD—placing it among the finest known survivors.

The coin displays full, frosty red luster and flawless design detail. It represents the ultimate version of a coin many collectors have in worn grades.

It brought $29,375, a significant jump over lower Mint State examples.

9. 1931-S — $18,600

Grade: PCGS MS66RD
Auction: Heritage Auctions, August 2004

Minted at the tail end of the Great Depression, the 1931-S had a mintage of only 866,000. Most were saved in rolls, but high-grade red coins are still scarce.

This MS66RD example boasts great luster, clean surfaces, and strong detail—qualities that elevated it to $18,600 at auction. For collectors completing a top-tier Lincoln registry set, it's a required and highly competitive acquisition.

10. 1909-S (No VDB) — $16,100

Grade: PCGS MS67RD
Auction: Heritage Auctions, January 2006

While often overshadowed by the VDB variant, the plain 1909-S is itself quite rare, with just 1.8 million coins struck. This MS67RD example is one of the highest-graded coins of this type, with glowing red luster and satiny surfaces.

The design is perfectly struck, and the coin's flawless preservation earned it a strong $16,100 sale price. One day it may become a 4.3 million dollar Lincoln Wheat penny!

The 1943 Copper Phenomenon

A Wartime Coining Error

In 1943, the U.S. Mint switched cent production from bronze to zinc-coated steel to preserve copper for ammunition and military equipment during World War II. The change was announced, tested, and successfully implemented.

But something unexpected happened.

Approximately 40 bronze planchets—the leftover copper blanks from 1942—were accidentally fed into the presses at the Philadelphia, Denver, and San Francisco Mints. These bronze strays were stamped with 1943 dies and quietly released into circulation, i.e. Lincoln Wheat penny 1943 copper specimens.

How Rare Are They?

Philadelphia Mint: ~15 confirmed
Denver Mint: 1 known specimen (sold for $1.7 million)
San Francisco Mint: ~6–7 confirmed

How to Spot a Real 1943 Copper Lincoln Wheat Penny

Because of their value, 1943 bronze cents are among the most frequently counterfeited coins in the world.

Here's how to tell the real from the faked:

1. Use a Magnet

Steel cents will stick.
Genuine bronze cents will not.

If it's magnetic—it's fake or steel.

2. Weigh It Precisely

Bronze cents should weigh approximately 3.11 grams.
Steel cents weigh about 2.70 grams.
Use a precision scale, preferably to the hundredth of a gram.

3. Examine the Color and Surface

Real 1943 bronze cents have a smooth chocolate or reddish-brown tone.
Steel cents that have been re-plated to look like copper often appear shiny, artificial, or too red.

4. Authenticate Professionally

Genuine 1943 bronze cents should always be graded by PCGS or NGC.
Lincoln Wheat penny valuation rare coin is a must.

Valuation Factors Explained: What Makes It Valuable

Not all Lincoln Wheat Pennies are created equal. Two coins with the same date can have different values—one might be worth a few cents, the other a few thousand dollars. Understanding the Lincoln Wheat penny valuation concerns drives collector demand and market price.

1. Condition: The Grading Scale from Poor to Perfect

A coin's condition, also known as its grade, is one of the most significant factors in determining the Lincoln Wheat penny rare value. Grading assesses wear, luster, strike sharpness, and eye appeal.

Below is the standardized Sheldon Scale used by grading services like PCGS and NGC:

Grade	Description	Visual Clues
P-1	Poor	Barely identifiable; date may be faint or missing
G-4	Good	Heavy wear; major details visible, but flat
VG-8	Very Good	Basic features visible, but no fine detail
F-12	Fine	Moderate wear; LIBERTY visible, but worn
VF-20	Very Fine	All major elements sharp; slight wear on high points
EF-40	Extremely Fine	Minor wear on highest points, good luster remains
AU-50	About Uncirculated	Nearly full detail; slight wear on the high points
MS-60	Mint State (Uncirculated)	No wear; average luster and strike, several marks
MS-65	Choice Gem Mint State	Strong luster, sharp strike, minor flaws
MS-70	Perfect Mint State	Flawless under 5x magnification (extremely rare and Lincoln Wheat penny valuable coin)

Why It Matters:

A 1914-D in G-4 might sell for $300, while in MS-65+RD, it could exceed $25,000.
Collectors pay steep premiums for coins with original mint red color (RD), full luster, and clean surfaces.

2. Mint Marks: Tiny Letters, Huge Impact

Mint Location	Mint Mark	Common Abbreviation	Example
Philadelphia	(none)	—	1944
Denver	D	1943-D	Lower mintages on some key dates
San Francisco	S	1909-S, 1931-S	Known for early rarities and clean strikes

Mint Mark Lincoln Wheat Penny Billion Dollar Valuation:

1909-S VDB – Only 484,000 made
1914-D – Scarce and highly sought after
1931-S – Just 866,000 minted during the Great Depression

3. Error Types: The Flawed Coins Worth a Fortune

Certain cents are Lincoln Wheat penny rare collectible valuable specimens not because they're perfect—but because they're not.

Most Valuable Errors and Varieties:

Doubled Die Obverse (DDO)

1941 Lincoln Wheat Penny Doubled Die Obverse MS66 Red PCGS

Caused by die misalignment during hubbing.
Famous Example: 1955 DDO – strong doubling of date and inscriptions
Lincoln Wheat penny price value: $1,000 to $50,000+ depending on grade

Repunched Mint Marks (RPMs)

1959 Lincoln Wheat Penny Repunched Mintmark, FS-501 MS65 Red PCGS

A mint mark punched over another (e.g., D over S)
Example: 1944-D/S RPM
Lincoln Wheat penny value price: $30 to $2,000+, depending on clarity and condition

Off-Center Strikes

1998-D Lincoln Penny Struck 60% Off-Center MS62 Red NGC

Blanks misaligned during striking
Coins 10–50% off-center with full date/mint mark can fetch $100–$2,000+

Wrong Planchet Errors

1956 Lincoln Penny Struck on a Silver Dime Planchet AU58 PCGS

A coin struck on a planchet meant for another denomination or metal
Example: 1943 bronze cent, 1944 steel cent
The Lincoln Wheat penny coin value: $100,000 to $2.3 million

Spotting Fakes: 4 Red Flags

As they climb in Lincoln Wheat penny value rare coin, so do forgeries. Here are four quick ways to spot a fake before it costs you.

1. Wrong Weight

Real bronze cents (pre-1982): 3.11g
1943 steel cents: 2.70g
If a "1943 copper" weighs 2.7g, it's just steel with plating.

2. Fake Mint Marks or Toning

Look for added mint marks (often misaligned or oddly shaped).
Avoid coins with unnatural colors (bright red, neon blue, splotchy tones).
Check for tool marks near the date.

3. Machine Doubling ≠ Doubled Die

True doubled dies (like 1955) show bold, uniform doubling.
Machine doubling looks flat or shelf-like—not a Lincoln Wheat penny rare valuable piece.

4. Unrealistic Prices

A "1920-D Lincoln Wheat penny $110 million"? Fake listing.
High-value coins should be graded by PCGS/NGC and priced within market norms.

obverse and reverse of a 1920-D Lincoln Wheat penny

Where to Sell & Authenticate

Before selling a valuable Lincoln Wheat Penny, get it authenticated and choose the right platform.

Top Grading Services

PCGS and NGC are the gold standard.
Cost: $30–$150 depending on service level.
Why grade? Boosts value, proves authenticity, and builds buyer trust.

Where to Sell

Auction Houses (for $1,000+ coins)

Best for rare, graded, or error coins.
Top names: Heritage, Stack's Bowers, GreatCollections
Pros: Maximum exposure, higher prices
Cons: 10–20% fee, longer payout

Private Dealers/Coin Shops (for <$500 coins)

Fast cash, in-person deals
Good for bulk or mid-value pieces
But: Lower offers and potential undervaluing

How to Identify It

Not sure if your coin is rare? Think about the Lincoln Wheat penny million dollar value? Coin ID Scanner makes it easy, as it:

Instantly scans and identifies coins using your phone's camera
Gives estimate Lincoln Wheat penny values based on market data
Lets you digitally manage your collection

FAQs

What is a Lincoln Wheat Penny and Why is it Called That?

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It's a U.S. one-cent coin minted from 1909 to 1958 with wheat ears on the reverse—hence the name.

How Much is a Lincoln Wheat Penny Worth?

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Most are worth 1–50¢, but key dates and errors can reach $1,000+ or even over $1 million.

What Factors Determine a Wheat Penny's Value?

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Date, mint mark, condition, metal composition, and mint errors are the biggest factors.

How Can I Identify a Potentially Valuable Wheat Penny?

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Check for rare dates (1909-S VDB, 1914-D), errors (1955 DDO, 1943 bronze), and get it weighed.

What are the Most Valuable Lincoln Wheat Pennies Ever Found?

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The 1943-D bronze cent ($1.7M) and 1944-S steel cent ($408K) top the list.

What Does "VDB" Stand For on the 1909 Penny?

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The initials of designer Victor David Brenner, found on the reverse of early 1909 cents.

How Can I Tell if My 1943 Penny is the Valuable Copper Version?

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Use a magnet (copper won't stick) and weigh it—real copper = 3.11g, steel = 2.7g.

What Should I Do If I Believe I've Found an Extremely Valuable Penny?

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Don't clean it. Weigh it, test it, and get it graded by PCGS or NGC before selling.

Are the Rumors of Multi-Million Dollar Wheat Pennies Real?

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Yes—but only rare errors like the 1943 bronze cent have sold for $1M+. Most are not, like the 1946 Lincoln Wheat penny.

Lincoln Wheat Penny Value: Is Yours Worth $15 Million?

Simon Albrecht

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