Wheat pennies (Lincoln cents with wheat stalks on the reverse) were minted from 1909 to 1958. Collectors prize them for historic importance, key dates, and striking errors. This guide explains wheat penny values through the years, how to identify important types, and practical steps to grade and sell.
Wheat Penny Values Through the Years — How Value Is Determined
Value depends on three main factors: date and mint mark, condition (grade), and rarity or error type. A common circulated wheat penny from the 1940s often holds only face or modest value. A key-date or rare error can be worth hundreds to thousands.
Professional grading, market demand, and coin appearance (toning, strike quality) all influence prices. Always verify with up-to-date price guides or recent auction results before buying or selling.
Key Terms Collectors Use
- Grade — Condition scale from Poor to Mint State (MS).
- Mint mark — Letter indicating mint: D (Denver), S (San Francisco), none (Philadelphia).
- Key date — A year-mint combination that is scarce and valuable.
- Error coin — Minting mistake such as doubled die, wrong planchet, or misstruck pieces.
Value Timeline by Decade
Tracking wheat penny values through the years helps identify which decades offer common pieces and which hold rarities. Below is a practical decade-by-decade overview to guide collectors.
1909–1919: Birth of the Lincoln Cent
The first wheat cents (1909) include the VDB initials on the reverse, later removed and reintroduced in limited 1909-S VDB examples. Early issues and low-mintage strikes can be valuable even in lower grades.
- Look for: 1909-S VDB, 1909 (regular), and low-mintage Philadelphia pieces.
- Value note: Early specimens are often sought by date sets; prices rise sharply with grade.
1920s–1930s: Mixed Availability
The 1920s have pockets of scarcity like the 1922 Plain (notable among specialists). The 1930s saw reduced demand during the Depression but include several semi-key dates.
- Look for: 1922 Plain (various strikes), 1931-S (scarce in higher grades).
1940s: War Years and the 1943 Anomaly
Most 1943 cents are steel-coated zinc because copper was reserved for the war effort. A few 1943 bronze cents exist and are among the most valuable wheat pennies.
- Look for: 1943 bronze error pennies, 1943-D/S steel cents in exceptional condition.
1950s: Common End of the Series and Famous Errors
The late 1950s are generally common, but famous errors like the 1955 doubled die obverse remain highly collectible.
- Look for: 1955 Doubled Die Obverse, high-grade 1958-S examples.
Key Dates and Error Types That Drive Value
When assessing wheat penny values through the years, prioritize known key dates and errors. These often dominate auction results and dealer interest.
- 1909-S VDB — Early VDB initials make this a classic key date.
- 1914-D — Low mintage and collector demand.
- 1922 Plain (various varieties) — Specialist interest for die varieties.
- 1931-S — Scarce compared with other 1930s issues.
- 1943 Bronze — Extremely rare; auction prices are often very high.
- 1955 Doubled Die Obverse — One of the most famous doubled dies among U.S. coins.
How to Check for Errors and Varieties
Use a loupe (5x–10x), compare both obverse and reverse to high-quality photos, and consult die variety guides. Doubled dies show thick doubling on letters and numerals; wrong-metal planchets have different color and weight.
Wheat pennies were produced for 50 years and remain a popular starter set—collectors often aim to gather one of each year and mint mark from 1909 to 1958.
Practical Grading and Selling Tips
Grading is central to wheat penny values through the years. Learn basic grade differences: Good (G), Very Fine (VF), Extremely Fine (EF), About Uncirculated (AU), and Mint State (MS).
For most sellers, professional grading by PCGS or NGC is worthwhile only for high-value or rare pieces. For common coins, local dealers or online marketplaces can offer reasonable returns.
- Inspect for wear on Lincoln’s cheek and wheat stalks — these areas show grade most clearly.
- Weigh coins if you suspect wrong-metal planchets (e.g., 1943 bronze vs steel).
- Get multiple price opinions from online price guides and recent auction results.
Where to Sell or Buy
Options include local coin shops, reputable auction houses, online marketplaces, and coin shows. For rare wheat pennies, choose a specialist auction or a dealer who handles certified coins.
Case Study: Finding Value in a Roll
A collector bought a roll of 1950s cents from a garage sale to fill a date set. Among common coins, one turned out to show heavy doubling on the date and letters. After photographing and consulting an expert, it was identified as a well-struck doubled die variety and sold through an auction house for several hundred dollars. The total profit covered the cost of multiple rolls and added a rare piece to the collection.
Final Checklist for Collectors
- Learn the common key dates and error types for wheat pennies.
- Use a loupe and weight scale for initial inspection.
- Compare to up-to-date price guides and recent auction sales.
- Consider professional grading only for high-value candidates.
- Document provenance and keep coins in inert holders to preserve value.
Wheat penny values through the years vary widely. With careful inspection, basic grading knowledge, and attention to known key dates and errors, collectors can build valuable sets or spot hidden treasures in everyday change.