Wheat Penny Price Chart 1909–1958: The Wheat Penny, officially known as the Lincoln Cent, has captured the imagination of coin collectors and history enthusiasts for over a century. Struck from 1909 to 1958, the Wheat Penny features two ears of wheat on the reverse side, making it one of the most iconic and recognizable coins in American numismatics. While these pennies may seem like a relic of the past, their value has grown substantially over the years, especially for rare dates, mintmarks, and conditions. This guide will delve into the Wheat Penny price chart for the years 1909–1958, highlighting market trends and the factors that influence their value.
The Beginnings of the Wheat Penny (1909–1919)
The Wheat Penny made its debut in 1909, coinciding with the 100th anniversary of Abraham Lincoln’s birth. The coin’s reverse, designed by Victor David Brenner, featured two stalks of wheat, a symbol of the nation’s agricultural roots. The 1909 Wheat Penny is historically significant due to its role in commemorating Lincoln, but it’s also one of the most collectible coins in the series.
The first major distinction in value occurs in the 1909 series, with two notable versions: the 1909 VDB (Victor David Brenner) and the 1909 regular Lincoln. The 1909 VDB penny is particularly valuable due to the controversial inclusion of the artist’s initials on the reverse. The 1909 VDB penny in good condition can fetch over $100, and higher-grade coins can be worth thousands.
In the years following the initial release, Wheat Pennies were produced with high mintage numbers, but certain years still stand out in value. The 1914-D, for example, is one of the most sought-after dates in the series. The 1914-D Wheat Penny, with only 1.2 million coins minted, is considered rare, and it can command prices ranging from $50 in low-grade conditions to several thousand dollars in mint state quality.
The Roaring Twenties and Thirties (1920–1939)
The 1920s and 1930s were decades of high production for the Wheat Penny. Millions of coins were minted each year to support the country’s economy during the post-WWI era and the Great Depression. These years saw widespread circulation of the penny, meaning that most of the coins produced during this time are relatively common and not worth much in typical circulated conditions.
However, certain years stand out for collectors, such as the 1922-D, which was minted with a weak strike, resulting in a lot of coins with partial or no mintmark. The 1922-D Wheat Penny is a highly sought-after coin in any condition, with prices ranging from $150 for a low-grade example to over $2,000 in high grades. The key to finding valuable pennies from this period is looking for coins with little wear and higher-grade examples.
The 1931-S is another standout coin from the 1930s. With just 866,000 pieces minted, this coin is one of the rarest in the series. Even in lower-grade conditions, a 1931-S Wheat Penny can command prices around $100, and mint state examples can reach well over $1,000. This is an excellent example of how low mintage numbers directly impact the value of a coin.
The World War II Era and Beyond (1940–1958)
During the 1940s and 1950s, the Wheat Penny continued to circulate widely in the United States. The U.S. Mint began producing coins in massive quantities to support the country’s efforts during World War II, and as a result, most of the pennies minted during this period are considered common. However, the 1943 steel penny stands out as one of the most famous and valuable Wheat Pennies.
The 1943 steel penny is unique because, during World War II, the U.S. Mint switched to steel as a wartime measure to conserve copper for military needs. Most of these steel pennies are readily available, but the 1943 copper penny, struck by mistake, is among the rarest and most valuable coins. If you find a 1943 copper penny, it could be worth as much as $1 million, depending on its condition. However, these mistakes are extremely rare, and collectors should verify their find with a reputable coin dealer.
The 1944 steel penny is another rarity, but it’s far less common than the copper 1943. These error coins are usually priced at around $100, with higher-grade examples fetching more.
The late 1940s and 1950s saw an increase in mintage numbers, and coins from this era are generally less valuable. However, collectors still focus on well-preserved specimens from the 1940s and early 1950s, especially those with mintmarks like the 1949-D, 1950-D, and 1955. The 1955 double die obverse penny is one of the most famous varieties of this period, featuring a noticeable doubling of the date and lettering on the obverse. This error coin can fetch between $1,000 to $10,000 depending on condition.
Wheat Penny Market Trends
Over the decades, Wheat Pennies have seen significant increases in value, primarily driven by demand from collectors. Market trends show that the demand for these coins fluctuates based on their rarity, condition, and historical significance. As with most collectibles, condition plays a significant role in determining value. Coins in higher grades (such as MS-65 or higher) often command higher prices than those that have been worn through circulation.
The prices of rare Wheat Pennies have also been impacted by inflation and the overall state of the coin market. For example, during times of economic uncertainty, people may invest in tangible assets like coins, driving up prices. Additionally, the rise of online coin auctions has made it easier for collectors to find rare pieces, creating a larger market for Wheat Pennies, especially those in near-mint or mint condition.
Another factor influencing the market is the ongoing search for rare error coins, such as double dies or misprints. These coins can fetch much higher prices, especially if they are well-documented and in excellent condition. The 1955 double die, for instance, remains a popular target for collectors.
Wheat Penny Price Guide (1909–1958)
While exact values can fluctuate based on condition and market demand, here is a general guide to help you understand the approximate value of Wheat Pennies from 1909 to 1958:
- 1909 VDB: $100 – $3,000 (depending on grade)
- 1914-D: $50 – $10,000 (depending on grade)
- 1922-D: $150 – $2,500 (depending on grade)
- 1931-S: $100 – $1,500 (depending on grade)
- 1943 Copper: $100,000 – $1 million (depending on condition)
- 1943 Steel: $1 – $10 (common)
- 1944 Steel: $100 – $1,000 (error coin)
- 1955 Double Die Obverse: $1,000 – $10,000 (depending on grade)
These prices are just a starting point and should be verified with current market trends and a trusted coin dealer or auction house. Condition, rarity, and whether the coin has any significant error will drastically affect its price.
Conclusion
The Wheat Penny is a beloved piece of American history, and its revival in the world of coin collecting continues to captivate enthusiasts around the world. From the early days of the 1909 VDB to the rare 1943 copper penny, these coins offer a fascinating glimpse into U.S. minting history. Whether you’re a seasoned collector or just getting started, understanding the value of Wheat Pennies and the trends within the market will help guide you in your pursuit of these iconic coins. By keeping an eye on rare dates, mintmarks, and high-quality specimens, you can make informed decisions when adding to your collection or simply keeping track of the evolving value of these historic pennies.