Wheat pennies are among the most popular and collectible coins in the United States, with many enthusiasts scouring through their coin jars, looking for the rarest and most valuable versions. The U.S. Mint produced these iconic coins from 1909 to 1958, featuring the image of two stalks of wheat on the reverse side.
While most of these coins are worth only a few cents due to their wide mintage, there are some exceptionally rare wheat pennies that can fetch a hefty price—some even going for over $300,000.
In this article, we will explore six of the most valuable wheat pennies, their unique characteristics, and why they are worth such astronomical amounts.
1. 1943 Copper Wheat Penny
The 1943 copper wheat penny is undoubtedly one of the most famous and valuable wheat pennies in existence.
Due to a minting error, a small number of copper pennies were struck instead of the standard steel pennies that were supposed to be made during World War II. These copper pennies are extremely rare, with only a few known to have survived.
Key Features of the 1943 Copper Wheat Penny:
- Minted: 1943
- Mintage: Only a handful of these copper pennies were struck by mistake.
- Condition: In perfect condition, this coin can fetch over $300,000.
- Value: Due to its rarity and error, the 1943 copper wheat penny can be valued at over $300,000, with some high-quality coins reaching prices as high as $1 million.
2. 1914-D Wheat Penny
The 1914-D wheat penny is another prized collector’s item. With a mintage of just 1.19 million coins, the 1914-D is a low-mintage coin that stands out as one of the rarest and most valuable wheat pennies in existence.
Many of these coins were heavily circulated, meaning only a few remain in high grades, making them worth considerably more.
Key Features of the 1914-D Wheat Penny:
- Minted: 1914 at the Denver Mint
- Mintage: 1.19 million
- Condition: High-quality, well-preserved examples in mint condition can be worth $300,000 or more.
- Value: In excellent condition, the 1914-D can fetch upwards of $300,000, especially in higher grades like MS-65 or higher.
3. 1922 Plain Wheat Penny
The 1922 Plain wheat penny is another highly valuable coin. It features an unusual error where the “D” mintmark was missing from the coin.
While the 1922 coin was originally supposed to be minted in Denver with a “D” mintmark, a small batch was struck without it, making it one of the most sought-after error coins.
Key Features of the 1922 Plain Wheat Penny:
- Minted: 1922 at the Denver Mint
- Mintage: Approximately 7.16 million, but the number of “Plain” coins is much smaller.
- Condition: The value can rise dramatically for coins in mint condition, especially those in higher grades.
- Value: Depending on condition, the 1922 Plain wheat penny can sell for more than $300,000, with well-preserved coins reaching even higher amounts.
4. 1931-S Wheat Penny
The 1931-S wheat penny is one of the rarest and most valuable coins in the entire wheat penny series. The San Francisco Mint produced only 866,000 of these coins, making them highly sought after by collectors.
As a result, well-preserved coins in mint condition can command a high price at auction.
Key Features of the 1931-S Wheat Penny:
- Minted: 1931 at the San Francisco Mint
- Mintage: 866,000
- Condition: Well-preserved examples in MS-65 or higher grades are worth substantially more.
- Value: This rare coin can fetch over $300,000 in exceptional condition, with some examples selling for even more at auctions.
5. 1909-S VDB Wheat Penny
The 1909-S VDB wheat penny is one of the most sought-after coins in American numismatics. It was the first penny to feature the initials “VDB” for its designer, Victor David Brenner.
Due to public backlash, the U.S. Mint ceased including the initials on future pennies, which makes the 1909-S VDB highly collectible.
Key Features of the 1909-S VDB Wheat Penny:
- Minted: 1909 at the San Francisco Mint
- Mintage: 484,000
- Condition: The coin’s value increases significantly for higher-grade examples.
- Value: The 1909-S VDB wheat penny can be worth $300,000 or more, depending on its condition. High-grade coins are especially valuable and often sell for top dollar at auctions.
6. 1921 Wheat Penny
The 1921 wheat penny is another rare coin in the series, due to a relatively low mintage and limited surviving examples in mint condition. This coin is often overlooked, but collectors have begun to appreciate its rarity, driving up its value.
Key Features of the 1921 Wheat Penny:
- Minted: 1921
- Mintage: 7.1 million
- Condition: Coins in MS-65 or higher grades are much more valuable than those in lower grades.
- Value: In top condition, the 1921 wheat penny can sell for $300,000 or more, making it a great find for collectors.
6 Wheat Pennies Worth Over $300,000
| Coin Name | Mint Year | Mintage | Key Features | Value Range (Depending on Condition) |
|---|---|---|---|---|
| 1943 Copper Wheat Penny | 1943 | Very limited | Minting error (copper instead of steel) | $300,000 – $1,000,000 |
| 1914-D Wheat Penny | 1914 | 1.19 million | Low mintage, rare | $300,000+ |
| 1922 Plain Wheat Penny | 1922 | 7.16 million | Missing “D” mintmark | $300,000+ |
| 1931-S Wheat Penny | 1931 | 866,000 | Low mintage | $300,000+ |
| 1909-S VDB Wheat Penny | 1909 | 484,000 | First penny with VDB initials | $300,000+ |
| 1921 Wheat Penny | 1921 | 7.1 million | Low mintage | $300,000+ |
The world of coin collecting is full of hidden treasures, and some wheat pennies are among the rarest and most valuable coins in existence today. The 1943 copper wheat penny, 1914-D, 1922 Plain, 1931-S, 1909-S VDB, and 1921 wheat pennies are just a few examples of coins that can fetch over $300,000, and in some cases, much more.
If you find yourself holding one of these rare pennies, you could be sitting on a small fortune. Always have your coins professionally graded to understand their true value and ensure you’re getting the best price when you sell.
FAQs
How do I know if my wheat penny is valuable?
The value of your wheat penny depends on its year, mintmark, rarity, and condition. Some pennies, like the 1943 copper wheat penny, are incredibly rare and valuable, especially in high grades.
What is the most valuable wheat penny?
The 1943 copper wheat penny is generally considered the most valuable, with some coins selling for over $1 million in perfect condition due to its minting error.
How can I sell my valuable wheat penny?
You can sell your wheat penny through reputable coin dealers, auction houses, or online marketplaces. Make sure to have the coin professionally graded to get the best price.
What is the condition of a coin that makes it worth more?
Coins in mint condition, especially those graded MS-65 or higher, are generally worth more. Coins that are free from wear, scratches, or discoloration fetch the highest prices.