By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The Lincoln Wheat Cent – A Coin Collecting Classic
The Lincoln Wheat Cent has been a favorite of collectors for many years. Part of the appeal is the fact that it is first circulating U.S. coin to feature the likeness of a real person – that person being the 16th President of the United States Abraham Lincoln (1809-1865), one of the most respected and admired leaders in this country’s history. The Lincoln Cent was first issued during the centenary of his birth.
Another part of the appeal of the Wheat Cent is that, with few exceptions, millions of them were issued each year. Combined with the coin’s low face value, this makes the Lincoln Wheat Cent a type that nearly everyone is able to collect, no matter the age or budget.
Nevertheless, the series contains enough rarities and varieties to hold the interest of the serious numismatist. And arguably more than any other coin, the Lincoln Cent is one of the few coin types whose rarities have become well known even by those who are not collectors. Many who don’t know or don’t care about the difference between, for example, the Draped Bust and Capped Bust Large Cents nonetheless have probably heard of the 1909-S VDB and the 1955 Doubled Die Obverse ‘pennies’, and may even know about the 1943 Copper Cent or the 1960 Large Date and Small Date varieties.
The first year of the design includes the V.D.B. varieties that prominently display the initials of the designer, Victor D. Brenner, on the reverse, something that caused controversy at the time even though designers had previously placed their initials on U.S. coins. Because Brenner’s initials were subsequently removed (and then reinstated in a less conspicuous location on the obverse in 1918), the 1909 V.D.B. and 1909-S V.D.B. Cents are considered a separate type.
Lincoln Wheat Cents were made of bronze most years, with a couple of variations during the years of World War II. Because copper was a critical war material, cents in 1943 were produced on zinc-coated steel planchets. That event resulted in the inadvertent creation of two Lincoln Cent rarities: copper (bronze) cents dated 1943, and steel cents dated 1944. From 1944 through 1946, Wheat Cents were produced from reused shell cases, whose bronze composition was nearly identical to the original issues (minus the tin).
Millions of business strike Wheat Cents were produced almost every year, useful in commerce at the time (and for entertainment in the often colorfully-named penny arcades) but today often relegated to “help yourself if needed” cent boxes near cash registers. Collector interest in the type grew more slowly, not taking off until the low-mintage 1931-S was extensively publicized, along with the advent of coin boards in the early 1930s.
Tens of thousands of business strike cents are listed in PCGS and NGC census/population reports, categorized by color definition (BN, RB, and RD, for Brown, Red-Brown, and Red), with many in Mint States grades of MS60 and finer. Prices are modest for most issues up to and including Premium Gem, and for some dates to Superb Gem. Coins with the Red-Brown or Red designations command significant premiums for cents produced through the mid-1930s, with Red cents often very expensive or extremely expensive. From the mid-1930s forward, most certified Wheat Cents have been classified as Red. Higher-priced issues include the 1914-D, the 1917 Doubled Die Obverse, the 1922 No D, the 1936 Doubled Die Obverse, the 1955 Doubled Die Obverse, the 1958 Doubled Die Obverse, and many pre-1936 Red-designated cents graded MS65 and finer.
Both World War I and World War II affected the production of Lincoln Cent Proofs. Those struck from 1909 through 1916 have a Matte or Satin finish, but production ended near the start of the “Great War”. When production resumed in 1936, both Satin and Brilliant finish Proof cents were minted, but thereafter Proofs were brilliant finish only until production ended again with the 1942 issue. No cent Proofs were made during and immediately after the WWII years, from 1943 through 1949.
Thousands of Proof Wheat Cents have been certified, many as Cameo and Deep Cameo, though fewer with the 1936 and earlier Matte or Satin finish. Prices are modest for most issues even as Superb Gem, though Red and Deep Cameo coins are often very expensive. Proofs minted in 1936 and earlier are generally more expensive than those produced after 1936.
In-Depth Wheat Cent Date Analysis by CoinWeek Notes
The 1914-D Lincoln Cent was produced in low numbers. Few were saved in Mint State, making this one of the toughest dates to collect in the entire series.
- 1910
- 1911-D
- 1916
- 1918
- 1918-S
- 1922-D – Including the 1922 “Plain D” or “No D”
- 1925
- 1928-S
- 1929
- 1929-D
- 1931-D
- 1931-S
- 1934-D
- 1936
- 1938-D
- 1943-D Copper
The 1943-D Copper Cent is a unique off-metal transitional error that, were it to sell at public auction, would be worth at least one million dollars.
Exclusive Coverage on CoinWeek
CoinWeek analyzed the market for the 1909-S VDB Lincoln Cent and noted strong growth for this coin over the past five years.
Notable Collections
- Joshua and Ally Walsh: The #1 All-Time finest set of Lincoln Cents when sold by Heritage Auctions. The Walsh sale marked a high point for the series that was only surpassed by the sale of the Blay Collection in 2023. Jack Lee was a major purchaser of Walsh coins. Unfortunately, he did not hold them long enough to turn a profit on many of them.
- Jack Lee: #1 All-Time Registry Set of Lincoln Cents when sold by Heritage Auctions on December 4, 2008. Nearly all coins were Superb Gems. Many pieces sold at a slight discount based on recent auction records.
- Stewart Blay: Blay assembled his historic collection of Lincoln Cents over the course of multiple decades, choosing only the finest coins after studied in-person inspection. Incontrovertibly the finest set every assembled. After Blay’s passing, his Lincoln Cent collection (including Memorial Cents) brought $7.7 million when sold by GreatCollections on January 15, 2023.
Design
Obverse:
A right-facing Abraham Lincoln occupies most of the obverse. At the top, inside a raised rim and above Lincoln’s head is the motto IN GOD WE TRUST, the first appearance of that motto on the one-cent coin. To the left of the portrait is the word LIBERTY, and to the right and slightly lower is the date. Lincoln Wheat Cents were minted at Philadelphia, Denver, and San Francisco; D and S mintmarks appear below the date. Cents produced for 1918 and subsequent years have the designer’s initials V.D.B. on the bottom bevel of Lincoln’s shoulder.
Reverse:
The reverse has a prominent display of the denomination ONE CENT at the top center, each word on a separate line, and below that UNITED STATES OF AMERICA in two lines. E PLURIBUS UNUM, with a center dot between the words, arcs along the top inside a raised rim. To both the left and the right of the center text, and curved to follow the rim, are stylized images of the seed head of wheat, called “wheat ears” by many, and the source for the type name.
Edge:
The edge of all Lincoln Cents is plain or smooth.
Lincoln Wheat Cent Varieties
A sampling of the known varieties of the Wheat Cent include the 1909-S, S Over Horizontal S; the 1917 Doubled Die Obverse; the 1922 No D and Weak D (from either a filled die or an excessively polished die as Philadelphia did not produce cents in 1922); the 1936 Doubled Die Obverse; the 1943 Copper or Bronze and 1944 Steel off-metal rarities; the 1944-D, D Over S; the 1946-S, S Over D; the 1955 Doubled Die Obverse; the 1956-D, D Above Shadow D; and the 1958 Doubled Die Obverse. Many other varieties exist.
Coin Specifications
| Lincoln Wheat Cent | |
| Years of Issue: | 1909-58 |
| Mintage (Circulation): | High: 1,435,400,000 (1944); Low: 866,000 (1931-S) |
| Mintage (Proof): | High: 1,247,952 (1957); Low: 600 (1916) |
| Alloy: | .950 copper, .050 tin and zinc (1909-42 and 1947-58); zinc-coated steel (1943); .950 copper, .050 zinc (1944-46) |
| Weight: | 3.11 g (1909-42 and 1944-58); 2.70 g (1943) |
| Diameter: | 19.00 mm |
| Edge: | Plain |
| OBV Designer: | Victor D. Brenner |
| REV Designer: | Victor D. Brenner |
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Additional References
Bowers, Q. David. The Experts Guide to Collecting and Investing in Rare Coins. Whitman Publishing.
–. A Guide Book of Lincoln Cents. Whitman Publishing.
–. A Guide Book of United States Type Coins. Whitman Publishing.
Breen, Walter. Walter Breen’s Encyclopedia of U.S. Coins. Doubleday.
Guth, Ron, and Jeff Garrett. United States Coinage: A Study by Type. Whitman Publishing.
Lange, David W. The Complete Guide to Lincoln Cents. Zyrus Press.
–. Coin Collecting Boards of the 1930s and 1940s. Pennyboard Press.
Taxay, Don. The U.S. Mint and Coinage. Arco Publishing.
Yeoman, R.S., and Kenneth Bressett (editor). The Official Red Book: A Guide Book of United States Coins. Whitman Publishing.
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I have two wheat pennies that have stars on them
@Ric Reynolds Lincoln cents are often modified by private firms to make novelty pieces or giveaways. These are considered to be altered items with not additional numismatic value.
It was the Lincoln Cent that really started a national trend of saving cents by date and mintmark. For my school days in the 1950 s, I cannot think of a student or classmate who did not collect coins or knew someone who collected coins.
I have some pennies dating from 1940- 1979 some with marking and some without. I also have some 1990 – 1992. I also have a 1940 nickle, quarter with 3 sets of initials and there r a few Queen Elizabeth 11 1969,1977 and one 1979 pennies.
This is such an informative article especially for a beginner like me, thank you!
Very interesting. My son’s are more knowledgeable than I am and have some rare ones. One needs to be sent off but can’t afford to have it appraised. Thank you.
Interesting information about wheat pennies, how about the rarity and the value of?
Is there really a market value if someone has coin from as far back as 1900’s?
Hello, thanks for the information…. I need all that’s available. Natalie R. ANTHONY
My name is Lisa I have 1940 wheat penny and 1950 all the way up to 1959 wheat pennies and having nickel 1946 I don’t know how much they go for I wanted to appraise them
I have a lot of coins pennies nickels quarters half dollars dollars, but who can you trust.
I have a coin that has a Lincoln head on one side and a dime on the other side. In my mind, based on displacement, there is no way the coins could have been “glued” together.
Fused maybe? Mistake in printing?
@Rocket What you’re describing is called a magician’s coin, a novelty item made by carefully cutting apart two different coins, then swapping and fusing the sides. They sell for a few dollars in gift and novelty shops.
There almost certainly is a seam, but precision machining makes it almost impossible to detect without magnification. It’s very unlikely to be a minting (as opposed to “printing”) error.
I really like how this coin can be used by all types of collectors. Everyone from a casual collector to high end experts can enjoy collecting coins.
I have a 1908 wheat penny in very good condition ! What’s the Value ?
@Eric Jones As the story notes, wheat cent production began in 1909. If the cent is dated 1908 it would be an Indian Head cent. The value depends on whether it has a small “S” mint mark on the back. Without a mint mark it’s worth a dollar or two in average condition. If it does have an “S” mint mark, it would have to be examined in person to determine its value.
I have 1800 ang 1900 wheat pennies all thru 1960 alot of them how do I clean them and where do I get the. Appraisal I don’t trust many coin dealers.
@William Arvin The first rule of cleaning coins is DON’T DO IT. Unless done with professional methods, cleaning damages a coin’s surface and reduces its value.
As the article notes wheat cents were minted from 1909 to 1958 so any cents dated 1800, 1900, or 1960 would be different varieties – a Large cent, an Indian Head cent, and a Lincoln Memorial cent to be specific. If you won’t take them to a dealer to be evaluated, you might try going to a local coin club to see if any experienced collectors could help. While there are many online sites giving values, it’s difficult for an inexperienced collector to know which are accurate and which aren’t. In particular stay away from general auction sites because they’re not carefully monitored for accuracy.
P.S. I think you mean “a lot”. Two words, not one. Hope that helps!
How much is a 1945 silver penny worth?
@Ray Martinez The US never made silver cents. Among other things they’d be worth more than dimes due to their size. But as the article notes, *1943* cents were struck in zinc-plated steel due to wartime metal shortages. If the zinc isn’t badly oxidized these coins have a somewhat silvery appearance; I suspect you have a coin with that date that may have slight damage making the ending “3” look like a “5”.
Over a billion steel cents were struck in 1943 and many were saved as curiosities. In average condition they retail for 25¢ to a dollar.
I have (1958) Penny and 2 – (2009) Pennies
I have a Indian head Nickle but the other side of it is upside down And facing the wrong way is this normal
@Latisha Please check the other coins in your pocket change. ALL US coins are minted with the obverse and reverse oriented 180º opposite to each other so yes this is normal.
I have my collection and amongst them I have in good condition 1850s flying eagle pennies if anyone is interested..
Hello .just happen to be browsing in my phone.been looking for something like this.i have a 1918 wheat penny.1925wheat penny.1958.1955.1956.all wheat.can you tell me what they worth.and who do I sell them to.thank you.
The Lincoln Cent… first depiction of the Executive of the country would never have come about if not for one trailblazing President… Theodore Roosevelt.
Teddy Roosevelt’s vision may have started as a young boy holding a Large Cent buying some Licorice, maybe Tweezlers, at Macys department store. This is possibly where the story of the Wheat Cent should begin.
I have 1909 indian head penny .I have 1912,1913,1914,1915,1916,1917,1918,1919 wheat penny I have 1920s and 1930
I have a roll of 1964 d penny I have a roll of 1969 d pennies
How much are they worth
I think I got some old coins like that how much would it be worth
Love this site
I have a 1909 wheat penny but I don’t know if it is a vdb because it’s in a piece of jewelry that my father in law gave me when I was 17 years old and you can’t see the whole back..I am almost 65 now. What is it worth please email me to let me know.Thank you.
I have a penny with a unscore between the R and T
R.I.P.
fingers crossed
I love collecting “wheaties” as I have find memories of my father – who incidentally left me with 3 bank bags of unsearched ‘wheaties’ that I will look at one day!!
Lincoln cents were the first thing I collected as a kid. Still love them!
Coming up on my 70th birthday and want to acquire a 1955 DD this year to celebrate.
My earliest cent, and one of the things that led me to collecting, is a 1798 Draped Bust Large Cent that came down through the family. Large die crack on the reverse, and in less than stellar condition, it’s still one of my favorites. I also love my 1955-S cent, sadly it is not one of the Double Die versions =D
I have 5 huge jugs full of pennies I have been collecting for 60 years. It might be time to sort through them.
If only I had saved all my pocket change as a kid!!
Found a lot of useful information.
The kind of Wheaties you don’t want to eat
I have a 1908 wheat penny in very good condition ! What’s the Value ?
I still save every one I come across.
Always liked wheat pennies, they’re a great way to get kids interested in coins for very little money
who wants pennies? I DO!
Now that the one cent piece is no longer produced, the chance of getting a wheatie in your change has all but disappeared. Sad.
I have several Wheat Pennies saved.
I wish I had taken the time to check all the pennies I have cashed it throughout the years.
I love the wheat penny. Its my favorite of all coins. 2nd is Jefferson /War Nickels then Buffalo Nickels
The wheat penny is the first coin that started my collection, many years ago,
Came across this article while I had my Dansco Lincoln Penny collector book out on my desk. Brought back memories when my Grandma got me started collecting around 5yo. I’ve got most of the holes filled going back to 1909 – just not any of the extra special ones.
My husband was handed a ‘wheat cent’ in change at a market last month!
Love the wheat pennies
As a collector I am heartbroken by the discontinuation of the penny. I know people talk about the cost of minting pennies, but truthfully, while it may cost more to make the penny and nickel, it costs less to make dimes and quarters. Maybe a better option would have been to decrease production for some cost savings or perhaps finding another metal to use instead of the horrible plated zinc composite.
Finding Wheat pennies in change is how I started my daughter collecting.
I’m wondering what the final price will be for the last pennies minted. I know I can’t afford them unfortunately.
Excellent article
Excellent article
It’s fun to assemble a graded set of Wheat Ear Cents.
I wish I had 25,000 ’09 S VDB’s
Will pennies become more or less valuable after they cease to be minted?
My dad gave me a 1909 S VDB penny when I was a child just starting to collect coins and I am
72 years old now and still have it to pass down to my son.
The first coins collected as a kid were wheat cents. My grandparents had some old indian cents and liberty nickels that interested me, being unusual (to me), and my collecting interest took off. Been collecting now for 65 years. I’ll miss the cent, but I believe it’s time to retire the “penny”.
Thank you for another great reference article. I have a large collection of US cents…and am always looking for more to add to my collection.
This is one of the most comprehensive articles that I have found covering the Lincoln Wheat penny. It has everything you want to know all in one place, learned a few new things about the circulating penny.
I remember sorting through my dad’s change in the 50s and he bought me a blue book for them and I had it filled until my younger brothers stole a few at a time to buy candy.
I love wheat pennies, have many
Sad to read the US mint has stopped minting the penny, one of my favorites to collect.
Sad to see the Lincoln Cent go. Although, the Zinc Cents were largely garbage, and I was not a fan of the Shield Reverse.
Fun to collect wheat cents even knowing they have nominal value
It is amazing to read of the variations in tie Lincoln Wheat penny. Your article has tweaked my interest in reviewing my collection for oddities.
I enjoy collecting the Wheat cent.
Good , informative article.
First US coin to feature a person.. hadn’t really thought to consider that before reading that today.
I started collecting pennies as a youngster,decades later they have become a good investment.
Wheat pennies and Lincoln cents have always been my main focus of collecting. Thank you for a wonderful article on a usually ignored coin!
Should have never gotten rid of the wheat penny. I understand that Lincoln wason the front and his Memorial building on the back, but none of the other US coins are like that; no Washington Monuments on the Quarter and such.
They’re getting harder to find these days.
Looks like I’ll have to go through all of my pennie’s!!
Nice coin
Very informative article. Thanks for the detailed information and a great read. I’m always looking for wheat pennies in my spare change.
The homeless in DC leak pennies and I always pick them up. If they only knew how valuable some pennies can be!
Goodbye Lincoln cent ☹️
The 1955 double die penny got me interested in coin collecting as a child. It’s a shame that 2025 will be the last year for penny. Hopefully it will spark an interest in young children in trying to locate and 2025 pennies
Started My Lincoln Cents Collection in 1959 when i was 7 years old with my mom
Started my penny collection in 1959 when i was 7 years old with my mom
Love Wheat Pennies
My 8 year old Nephew just started collecting so I set him up with a bunch of extra Wheaties I had.
The Lincoln wheat cent is what got my interest started in coin collecting. I would save as many as I could when I found them in change during the late 80s and the early 90s. It paid a great homage to the Indian Cent and other coins from the 19th century with the wreath design on the reverse.
I feel like the wheat cent reverse should never have been changed.
Great article!
Lincoln cents is where I started collecting. Always my GO TO coin. Great article.
I pulled a lot of wheaties from circulation in the 1970’s. It was a thrill to find “s” mint coins and any pre-1940 Lincoln with a mint mark.
I have always loved the Wheaties. Surprisingly I still get one in change from time to time.
Like a lot of people Linclon cent were my gateway to collecting
Always fun searching these pennies. Still save all the wheaties I find.
very good article
As a paper boy starting in 1955, I literally had a ton of these go through my hands. Not to mention more than a few Indian heads. Always wished I had held onto a few more.
Start hording those Lincoln cents! Good luck on the coin giveaway everybody!
Awesome Article. Thank you for sharing
Thank you for such an informative article. Whenever I get pennies, I always look for and separate out the wheat cents. I now have new info to go back and look through what I have.
I have one of those!
Thanks for this wheat penny article. Most of us boomers started collecting with the wheat penny. It was easy to get 100 pennies at the bank to sort through and start filling our Whitman folders. What joy!
This was a challenging series to collect Lincoln Cent. I can honestly say when you have it completed it is rewarding.
Thanks – as a kid my folks used to tell me to save “leaf pennies.” I never knew all the variations before this!
This is such an informative article especially for a beginner like me.
I have been collecting these for years
I have enjoyed collecting cents with my dad and now my granddaughter over the years. I hate to see them stop being made they are such fun to look at with a scope.