This guide helps collectors use a Wheat Penny Price Chart 1909–1940 to estimate values and prioritize coins for grading or sale. It focuses on practical steps, the most important dates, and the grading factors that affect market prices.
Wheat Penny Price Chart 1909–1940: How to Use a Chart
A price chart lists typical market values for coins by date, mint mark, and grade. Charts often use abbreviations for grades such as G (Good), VG (Very Good), F (Fine), VF (Very Fine), EF/XF (Extremely Fine), AU (About Uncirculated), and MS (Mint State).
Use this approach when reading a chart:
- Match the year and mint mark exactly.
- Compare your coin’s visible wear to the grade descriptions.
- Start with conservative grades if you are not a grader; choose a professional grade to confirm higher values.
Reading Grades and Price Tiers
Charts usually separate values by common, scarce, and key dates. Common dates may be worth face value to a few dollars in low grades. Scarce or key dates can move to hundreds or thousands of dollars in high grades.
Remember that certified (slabbed) coins generally command higher, more consistent prices than raw coins shown on charts.
Key Dates in a Wheat Penny Price Chart 1909–1940
Some dates and varieties are traditionally the most valuable for early Lincoln cents. A quick checklist:
- 1909-S VDB — First-year design with designer initials VDB on the reverse; low mintages make it a top early rarity.
- 1909-S (mint mark variations) — Any 1909-S examples deserve close inspection for VDB or non-VDB varieties.
- 1914-D — A low mintage Denver issue often listed as a key date for collectors.
- 1922 no D — Philadelphia-struck coins without a mint mark appear on price charts as a valuable variety in higher grades.
- 1931-S — San Francisco mintage is low relative to common years, making this date scarce in higher grades.
Charts will show the same date with large spreads between worn and mint-state coins. Use the chart to prioritize which coins to have graded or conserved.
Example Value Bands
Price charts typically show bands like these for an early-era wheat penny:
- Common low-grade (G–F): modest premiums, often $0.05–$5.
- Mid-grade (VF–AU): collectible interest increases, often $5–$100 depending on date.
- High-grade (MS): sharp increases for scarce dates, ranging from hundreds to thousands for key issues.
Factors That Affect Wheat Penny Prices 1909–1940
Several consistent factors influence where a coin lands on a price chart. Consider these when consulting a chart or selling a coin.
- Grade and eye appeal — Higher grade equals higher value; clean surfaces and original color help price.
- Mint mark and mintage — Lower mintage mint marks usually appear as higher values on charts.
- Varieties and errors — VDB, repunched mint marks, doubled dies, and other varieties are separately listed or annotated on charts.
- Certification — Graded coins by major services (PCGS, NGC) often fetch chart-top values.
- Market conditions — Bullion cycles, hobby interest, and recent auction results shift chart pricing over time.
Using Auction Results With a Price Chart
Compare auction final prices to chart values to judge whether the chart is current. Auctions provide real-world sale prices that can validate or update chart ranges.
Keep a small spreadsheet of similar recent sales to track trends for specific dates you own or want to buy.
The Lincoln cent introduced in 1909 was the first U.S. coin to feature a real person on a regular-issue coin. That 1909 first year makes many varieties especially collectible.
Practical Steps for Using a Wheat Penny Price Chart
Follow this checklist when you consult a chart to value a wheat penny from 1909–1940.
- Confirm the date and look for a mint mark (S, D, or none).
- Assess the grade conservatively; use reference photos to compare wear patterns.
- Check the chart for the date/grade combination and note the price tier.
- Search recent sales for the same date and grade to verify the chart price.
- Decide whether to sell raw, slab for certification, or retain for a collection based on the gap between raw and certified prices.
Small Case Study: Using the Chart to Decide Grading
A collector found a 1914-D wheat penny in a coin roll at a local bank. The coin looked above average for wear, so they checked a Wheat Penny Price Chart 1909–1940.
The chart showed a large value jump between AU and MS grades for 1914-D. After comparing the coin to grade photos, the collector sent it for professional grading. The certified result placed the coin in a high AU grade, and the final sale price at a specialist dealer was significantly higher than the raw-chart value.
Lesson: When a chart shows large spreads between adjacent grades for a date, professional grading can be worth the cost.
Final Tips for Collectors Using a Wheat Penny Price Chart 1909–1940
- Always cross-check multiple price charts and recent auction results before pricing a coin.
- Keep coins in simple flips or 2×2 holders to avoid damage before grading.
- Learn basic grading yourself, but rely on third-party grading for high-value coins.
- Note that charts are guides, not guarantees—actual sale prices depend on demand and condition.
Using a Wheat Penny Price Chart 1909–1940 correctly helps you identify valuable coins, decide when to grade, and set realistic sale expectations. Keep charts updated and verify with recent sales for the most accurate results.