Wheat pennies are among the most collectible coins in the United States, and some ultra-rare varieties are still being found in circulation today. While most wheat pennies are worth only a few cents above their face value, certain rare examples have been sold for prices exceeding $500,000.
These coins are prized by collectors and can bring a significant fortune if found in good condition. Here are seven of the rarest wheat pennies to keep an eye out for, any one of which could be hiding in your change!
1. 1909-S VDB Wheat Penny
This penny was the first to bear the initials of its designer, Victor David Brenner. However, after public backlash over the prominence of the initials, the U.S. Mint removed them. The 1909-S VDB penny is incredibly rare because only 484,000 were minted before the change was made. In top condition, this penny can fetch over $500,000.
2. 1914-D Wheat Penny
Minted in Denver, the 1914-D wheat penny is one of the most valuable due to its low mintage of only 1.1 million coins. This coin is highly sought after by collectors, and one in excellent condition can sell for well over $500,000, making it a must-have for any serious numismatist.
3. 1922 No D Wheat Penny
In 1922, pennies were only minted in Denver, but a minting error resulted in some coins missing the “D” mint mark. This error makes the 1922 No D wheat penny incredibly rare and highly valuable. In pristine condition, this coin has been known to sell for upwards of $500,000.
4. 1931-S Wheat Penny
The 1931-S wheat penny is another low-mintage coin, with only 866,000 produced. While not as rare as some others on this list, its scarcity still makes it highly valuable to collectors, with high-grade specimens fetching significant sums. It has sold for over $500,000 in some cases.
5. 1943 Copper Wheat Penny
During World War II, the U.S. Mint switched to using steel to conserve copper for the war effort. However, a few 1943 pennies were mistakenly struck in copper, making them incredibly rare. These coins can be worth over $500,000 in the right condition, with some even surpassing the million-dollar mark.
6. 1944 Steel Wheat Penny
Just as some 1943 pennies were mistakenly struck in copper, a few 1944 pennies were mistakenly struck in steel. These coins are among the rarest wheat pennies, and a single one in near-perfect condition can sell for more than $500,000.
7. 1955 Double Die Wheat Penny
The 1955 double die wheat penny is famous for its noticeable doubling of the date and lettering. This error makes it highly desirable to collectors. While not as rare as the other coins on this list, its unique appearance and demand can drive prices over $500,000, especially for coins in uncirculated condition.
Coin Name | Year | Rarity Level | Estimated Value ($) |
---|---|---|---|
1909-S VDB Wheat Penny | 1909 | Extremely Rare | 500,000+ |
1914-D Wheat Penny | 1914 | Rare | 500,000+ |
1922 No D Wheat Penny | 1922 | Very Rare | 500,000+ |
1931-S Wheat Penny | 1931 | Rare | 500,000+ |
1943 Copper Wheat Penny | 1943 | Extremely Rare | 500,000+ |
1944 Steel Wheat Penny | 1944 | Extremely Rare | 500,000+ |
1955 Double Die Wheat Penny | 1955 | Rare | 500,000+ |
Ultra-rare wheat pennies like these can still be found in circulation today, though the chances are slim. If you come across one, it’s essential to handle it carefully and get it professionally appraised, as even slight damage can significantly affect its value. Keep an eye on your change—you might just have a treasure on your hands!
FAQs
1. How can I tell if I have a rare wheat penny?
You can identify a rare wheat penny by looking for key features such as the mint mark, date, and any unusual characteristics like doubling or errors. Using a magnifying glass and coin guide can help you spot these rare traits.
2. What makes these wheat pennies so valuable?
The value of these wheat pennies comes from their rarity and condition. Coins with low mintages, errors, or those made from the wrong metal are highly sought after by collectors, which drives up their value.
3. Should I get my wheat penny graded?
Yes, if you believe you have a rare wheat penny, it is advisable to get it graded by a professional coin grading service. A high grade can significantly increase the coin’s value.
4. Where can I sell my rare wheat penny?
Rare wheat pennies can be sold at coin auctions, to dealers, or through online platforms like eBay. Having the coin graded will help verify its authenticity and condition, making it easier to sell at a higher price.
5. What condition does my penny need to be in to be valuable?
The condition, or grade, of a penny is crucial to its value. Coins in uncirculated or mint condition are worth the most. Even minor wear can reduce the value significantly.