A Lincoln Wheat Penny Worth $34 Million Might Be in Your Change!

Does that old penny lingering in your pocket hold some serious value? Most coins that glide through our hands are just that, coins; some, however, get auctioned off to the vomiting price in zealous bidding sometimes close to millions. One of them is very much the Lincoln Wheat Penny, a tiny slice of American history that could make you much richer than you would have ever imagined. This article talks about the Lincoln Wheat Penny, the history surrounding it, and how certain rare versions of this lowly coin have turned into quite a big deal with lots of money, plus tips on how to identify any potential treasure hiding away in your pocket change!

Lincoln Wheat Penny Is Worth $34 Million

Lincoln Wheat Penny—priceless and historic, yet for many of these coins, their moneymaking capacities are under discussion among numismatists; certain rare variants are attracting monstrous prices. There are a few which, when listed for sale, can fetch upwards of hundreds of thousands of dollars or even more: the rare 1943-D bronze cent, rarer 1909-S VDB penny, rare 1955 double-die penny, the list can go on. Hence, if you ever come across an old penny, it might just be worth your while to check whether it is a precious collectible. Oh, and perhaps an appraiser should be consulted beforehand; you may just get carried away with little worth!

Learn the history and features of these rare coins to become an informed collector or investor yourself, and in so doing, perhaps find your own piece of American numismatic history.

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History of the Lincoln Wheat Penny

Now, before we get straight away into describing the rare varieties of the Lincoln Wheat Penny, let us consider a brief history of the coin. The Lincoln Wheat Penny was first minted in 1909, marking the centennial of Abraham Lincoln’s birth. The coin was designed by the sculptor Victor David Brenner, who is also famous for designing the reverse of the penny that was to later show the Lincoln Memorial from 1959 onward.

Originally, the design had Lincoln’s face on the obverse and two stalks of wheat on the reverse, hence the name Wheat Penny. These wheat stalks were meant as a tribute to America’s agricultural roots, which symbolize the strength and prosperity of the nation. Over the years, demand for changes in the design has been heard, but not enough to temporary halt its being in circulation until replaced in 1958 by the Lincoln Memorial cent.

And while many Wheat Pennies have little demand and are worth nothing more than their face value, an error in the minting process or some other special attributes can make some of them highly sought after by collectors.

The Most Valuable Lincoln Wheat Pennies

Now about the Lincoln Wheat Pennies which proved to be extremely high-in-value. These coins possess either rare minting errors, limited production, or other unique characteristics that set them apart from the rest. Here are some of the most famous of the most valuable:

1.1943-D Bronze Cent

The 1943-D Bronze Cent is one of the most famous Lincoln Wheat Pennies. In 1943, the U.S. Mint switched to producing steel-made pennies due to copper shortages during World War II. However, due to a mistake, a small number of those bronze planchets (copper-based metal discs used to produce pennies) were mistakenly used to strike some of the 1943 pennies. Those bronze pennies are extremely rare, with only a few units known to exist.

One such 1943-D Bronze Cent, hammered for $840,000 on auction! If you should find a 1943 penny, take a good long look at it to see if it has been minted on a bronze planchet. Assuming that anything in it just may be crazy.

2. 1909-S VDB Penny

Another one for penniless collectors is the 1909-S VDB Penny-the Lincoln Wheat edition of such coins. What makes it different from others is that its reverse bears the initials VDB, which spell out the designer’s name Victor David Brenner. Almost immediately after the release, there was an outcry about the prominence of the initials of the designer, and the Mint very quickly issued a halt of production for all pennies dating to 1909 with the VDB mark.

Due to this, very few 1909-S VDB pennies were produced, which resulted in a very high degree of rarity with regard to these coins. Depending on conditions, the prices for these coins can go well into thousands.

3. 1955 Double Die Penny

Another celebrity in the rare and very much sought Lincoln Wheat Pennies is the 1955 Double Die Penny. This comes from amint error because the die used to strike the coin is not aligned properly with the making of the image doubled. This effect also gives the coin a unique appearance because of the prominent doubling on its date and the word “LIBERTY” on the obverse.

To connoisseurs and serious collectors of coins, the 1955 Double Die Penny is regarded as a must-have, and some example of it in mint condition count up to tens of thousands of dollars.

The Lincoln Wheat Penny Valued at $305K, Still in Circulation

Why Are Some Coins Valued Higher Than Others?

There are many things that make a coin valuable; here is a breakdown of those factors:

• Rarity: A coin is deemed valuable when it is difficult to find. Limited mintage or errors at some point during production increases one’s rarity.
• Condition: Mint State (MS) or Uncirculated coins are valued significantly higher than their worn or damaged counterparts. Some of the grading companies, for example, PCGS and NGC, assign grades to coins based on their condition.
• Demand: Coins that are popular among collectors, like the 1909-S VDB Penny, become expensive due to their demand.
• Minting Errors: Mint errors, for example, double die errors or misaligned strikes, are also considered quite more valuable than the normal coins because of their uniqueness.

How to Spot a Rare Lincoln Wheat Penny

The majority of Lincoln Wheat pennies hold little value but some versions are very precious. How can you identify such rare specimens in your own collection or in pocket change? Here are some tips to detect value:

1. Check for Minting Errors
   The most valuable Lincoln Wheat Pennies are, in many cases, worth a fortune on account of minting errors. Double die strikes are commonly found; that is to say, the image appears more than once on the coin. Misaligned dies can cause the coin to be pushed off center while being struck. These errors can surely add much value to the coin.

1. Pay Attention to Date and Mint Mark
   Some dates and mint marks are more valuable than others. For instance, you will find that the 1909-S VDB is very desirable, and so is the 1943-D Bronze Cent. Check what year your coin is dated and, most importantly, look for the mint mark-located on the obverse under Lincoln’s date-that could indicate that this is a rather rare version.
2. Examine Condition
   Condition has a considerable effect on value in coins. Mint State (MS) or Uncirculated coins are usually far more valuable than heavily circulated coins. Do not clean coins, because this decreases their worth by scratching or otherwise damaging them.
3. Speak to a Professional
   If you think you have discovered a rare Lincoln Wheat Penny, have it evaluated by a reputable coin dealer, or consult a knowledgeable numismatist to authenticate the item. It is helpful to know whether your penny is indeed valuable and how well to take care of it.

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