This Lincoln Wheat Penny Could Be Worth $15 Million

The Wheat cent series was struck for circulation at Philadelphia, Denver, and San Francisco. It includes common dates, key dates, proofs, and several famous rare coins, which is why it remains one of the most collected U.S. coin series. 

Well-known better dates out of the Lincoln wheat penny value chart include the 1909-S VDB, 1914-D, 1922 No D, 1909-S, and 1931-S.

What Is a Lincoln Wheat Penny?

A Lincoln Wheat cent is the first Lincoln coin type issued by the United States. It debuted in 1909 to mark the 100th anniversary of Abraham Lincoln’s birth. 

Lincoln’s portrait is on the obverse (by Victor David Brenner). The reverse shows two wheat ears. The U.S. Mint used that reverse design from 1909 through 1958.

How Much Is a Wheat Penny Worth Today?

In today’s market, common average-circulated pieces usually sit in the low-cost range, often around 25¢ to 50¢ each in bulk retail. A practical benchmark is APMEX’s 1909–1958 Wheat Cent 50-count average-circulated roll at $14.99, or about 30 cents per coin, and APMEX notes that these rolls are most likely dated 1940–1958.

Better early-date circulated coins can bring about $1 to $10 or more. APMEX lists examples such as a 1919-D in Good/VG at $2.99, a 1921 in XF at $12.99, and a 1920-D in Fine at $4.99.

Scarcer regular issues no longer belong in the cheap pile. APMEX shows a 1923-S in Fine at $29.99 and a 1924-D in VF at $69.99, while PCGS shows a 1931-S in MS63BN with a $225 price-guide value.

After that come the true key dates and major varieties. A 1909-S VDB in VF30BN sold at Stack’s Bowers in May 2025 for $1,050, and PCGS lists a $1,350 price-guide value for that grade. The 1955 Doubled Die Obverse is in a higher tier still: PCGS says examples trade for $2,500 to $3,000 up to AU58BN; select MS64RD can bring $15,000 or more.

At the top end are the coins most collectors never see in person. These are the famous off-metal errors and top rarities. PCGS lists a 1943 Bronze cent with a $372,000 auction record, and the 1943-D Bronze is even higher in the rankings.

Frame the Market

• Common circulated: about 25¢–50¢ each

• Better circulated early dates: about $1–$15

• Scarcer dates and nicer collector coins: about $25–$250+

• Key dates and major varieties: about $1,000–$15,000+

• Expensive error coins: six figures

What Determines the Value

A Lincoln wheat penny value rare, i.e. rarity, depends on these factors:

• Date — earlier coins are often better, especially low-mintage years;

• Mint mark — coins from Denver (D) or San Francisco (S) can be scarcer than Philadelphia pieces;

• Condition — cleaner coins with less wear usually sell for more;

• Color — on copper cents, Red (RD) coins are worth more than Red-Brown (RB) or Brown (BN) pieces;

• Variety or error — doubled dies, No D coins, wrong planchets, and other real mint-made errors can raise the price sharply;

• Original surfaces — cleaned, damaged, or spotted coins usually bring less;

• Collector demand — key dates and famous varieties stay stronger because more buyers want them.

Lincoln Wheat Penny Value by Year (1909–1958)

* 1943 here means the regular 1943 steel wheat penny values.

** 1944 here means the regular bronze cent issues. 

The rare 1943 bronze and 1944 steel pieces are off-metal errors and are not included in this chart because they have much higher 1943 and 1944 wheat penny value numbers.

Most Valuable Lincoln Wheat Pennies

1. 1943-D Bronze Cent

During WWII, the U.S. Mint shifted from copper to steel to conserve resources. But a few leftover bronze planchets accidentally made their way into the Denver mint's production line. That accident birthed the Lincoln wheat penny $15 million urban legend. The only authentic Denver-minted bronze example has a 1943 wheat penny value equal to $3.3 million.

2. 1909-S VDB Lincoln Cent

This first-year coin included the designer's initials “V.D.B.” on the reverse. The backlash led to its removal within weeks.

Only 20,000–25,000 are thought to still exist in collectible condition. Its status has led to rumors of a Lincoln wheat penny valued at $121 million still in circulation, which continues to stir public imagination. In reality, the 1909 wheat penny value is much lower. 

3. 1914-D Lincoln Cent

Unlike its 1909 predecessor, this coin was not hoarded. It is the definition of any Lincoln wheat penny rare valuable collection.

The design follows Brenner’s standard layout, without any change from the 1909 issue. However, the “D” mintmark beneath the date is the defining characteristic. Fine condition examples cost $1,500+, with MS-63 versions hitting $75,000. 

4. 1922 “No D” Cent

This one challenges the eyes: is it a Denver one... or not? Only the Denver mint produced pennies in 1922. But some coins had the “D” mintmark disappear. This was not by plan — rather, the dies used were so heavily polished that the mintmark was worn away.

Genuine “No D” coins can fetch $20,000+. It is a highlight in any valuation rare coin discussion.

5. 1955 DDO Cent

A doubled die resulted in overlapping inscriptions, especially in "LIBERTY" and "IN GOD WE TRUST." The obverse of this coin exhibits one of the most dramatic doubling errors in U.S. coin history. “LIBERTY,” “IN GOD WE TRUST,” and the date appear visibly doubled, as if printed twice. This 1955 wheat penny value is from $1,000 to over $100,000.

6. 1944 Steel Cent

Steel in 1944? That shouldn’t happen. But it did. A few leftover steel planchets from 1943 were accidentally used in 1944. This 1944 steel wheat penny has a value over $180,000.

• 1944 D wheat penny value: $30,000 - $500,000

• 1944 wheat penny value no mint mark / P: $25,000 - $500,000

Unlike the bronze pennies of the era, this coin is shiny, gray, and magnetic due to its steel composition. The reverse, with wheat stalks, often shows higher wear due to the hardness of the steel.

Wheat Penny Value Chart

On March 18, 2026, the following price leaders can be identified based on PCGS data:

Rare Wheat Penny Errors (Overview)

The most important rare errors and varieties include:

• 1943 bronze cents — struck on bronze planchets instead of steel

• 1944 steel cents — struck on leftover steel planchets instead of bronze

• 1955 Doubled Die Obverse — strong doubling on the date and lettering

• 1922 No D — missing Denver mint mark on a circulation strike

• RPMs and overmintmarks — repunched or overlapping mint marks

• Off-center strikes — part of the design is missing because the planchet was misaligned

• Clipped planchets — the coin is missing a curved piece of metal

• Struck-through errors — foreign material affected the design during striking

• Lamination errors — peeling or split metal caused by planchet flaws

“A remarkable 1919 Lincoln Wheat Cent graded PCGS MS-69 RD with a CAC green sticker will appear at auction through GreatCollections on March 22, 2026.”
— CoinWeek 
Auctions 

How to Identify Valuable Wheat Pennies

1. Confirm it is a Wheat cent. The reverse should show two wheat ears, and the series runs from 1909 to 1958.

2. Check the date first. Better dates include coins such as 1909-S VDB, 1909-S, 1914-D, 1922 No D, and 1931-S.

3. Check the mint mark. Look below the date. D means Denver, S means San Francisco, and no mint mark usually means Philadelphia. On cents, the mint mark can change the value sharply.

4. Look for major varieties, not minor damage. On a 1955 Doubled Die, the doubling is obvious on the date, LIBERTY, and IN GOD WE TRUST. On a 1922 No D, the missing mint mark is the key feature.

5. Separate real errors from wear or damage. Scratches, stains, and circulation damage usually do not add value. Clear mint-made mistakes such as off-metal strikes, strong doubling, clipped planchets, or struck-through errors are the ones worth closer review.

6. Check the condition last. A rare date in low grade can still be valuable, but a common date usually needs much better preservation to bring a real premium.

How to Know What You Really Have

Want to determine if your coin is an iconic rare Lincoln cent or just pocket change? You need tech, precision and numismatic know-how. 

Start scanning. Start valuing. Start discovering history.

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