First minted in 1909, the Lincoln Wheat Penny continues to be a popular "gateway coin" for many novice collectors. While the first year of issue has significant collector value, other varieties can also be highly sought after. The year of mintage, condition, and mint facility play significant roles in determining their worth. Also called "Wheat Reverse Cents" and "Lincoln Cents," these coins were struck at the Philadelphia, Denver, and San Francisco branches of the United States Mint. Interestingly, Philadelphia-minted coins generally exhibit better craftsmanship. This design holds the record for the longest-running coin design in US Mint history, and well-preserved wheat pennies are valued much higher than their worn counterparts.
The Lincoln Wheat Penny was designed by sculptor-engraver Victor David Brenner, whose design was personally selected by President Theodore Roosevelt to commemorate Abraham Lincoln's 100th birthday in 1909. Remarkably, Lincoln was the first person depicted on a circulating US coin. The obverse design closely resembles a plaque Brenner made for the Gorham Manufacturing Company in 1907 and an 1864 profile portrait of Lincoln. The inscriptions include "IN GOD WE TRUST" above Lincoln’s head, "LIBERTY" on the left, and the date on the right. The reverse, also designed by Brenner, features two wheat stalks flanking the denomination with "E PLURIBUS UNUM" above and "UNITED STATES OF AMERICA" below, giving the coin its "Wheat Penny" moniker.
Initially, Brenner's full name appeared on the obverse, but after objections from Mint Director Frank A. Leach, his initials were moved to the reverse. Following controversy over these initials, they were removed shortly after the penny's release on August 2, 1909, and reappeared in small letters below Lincoln’s shoulder in 1918, where they remain today.
Lincoln Wheat Cents vary in worth based on the mint of production and year. The “S” mint mark indicates production at the San Francisco facility and is highly sought after. Denver-minted coins feature a "D" mint mark, while Philadelphia coins have no mint mark, following traditional US Mint procedure.
Most Lincoln Wheat Pennies are valued at not much more than their face value, but those in good condition can be worth up to $20 or $30. Coins with certain dates, low mintages, or errors can be significantly valuable. The most well-known rare version is the 1909-S VDB, the lowest-mintage regular issue in the series, with only about 20,000 estimated survivors. Another rare variety is the 1943 Bronze/Copper Cent, created when copper planchets were accidentally left in the press during the switch to steel cents during World War II. Only 13 of these pennies have been discovered so far.
Here are some rare and valuable Lincoln Penny varieties:
To determine the condition and grade of your Lincoln Wheat Penny, consulting a professional like the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Company (NGC) is recommended. However, you can gauge these factors yourself by examining the top of the wheat stalks on the reverse. If the parallel lines at the top are visible, the coin may be in "Fine" condition or better. Worn-down tops indicate "Good" condition or worse. The coin’s overall details also play a role in grading. Generally, the better the condition of your Lincoln Wheat Penny, the more valuable it will be to collectors.
Lincoln Wheat Pennies are a fascinating and valuable addition to any collection. If you discover one in your possession, it's essential to determine its value accurately. At Bullion Hunters, we offer expert advice and a wide selection of collectible coins to help you build a robust collection. Visit our website or contact us today to explore our inventory and find the perfect Lincoln Wheat Penny for your collection. Our dedicated team is here to assist you in making informed decisions and enhancing your numismatic portfolio.