Lincoln Wheat Penny Valuation: Your Ultimate Guide to Worth & Rarity [2025]

Wondering how much that old Lincoln Wheat Penny in your collection is worth? You're not alone. These iconic coins, minted from 1909 to 1958, hold a special place in American numismatic history. But pinpointing their value requires more than just a quick glance. Understanding the intricate factors that influence Lincoln Wheat Penny Valuation is crucial for both seasoned collectors and those simply curious about their pocket change. This comprehensive guide will equip you with the knowledge to accurately assess your Wheat Penny's worth, from identifying its key features to navigating the complexities of grading and rarity.Identifying Your Lincoln Wheat Penny:

 

Lincoln Wheat Penny Features

The Lincoln Wheat Penny, officially known as the Lincoln Cent, is instantly recognizable. Its obverse features a profile portrait of Abraham Lincoln, while the reverse showcases two stylized wheat stalks. To accurately value your penny, you need to identify its mint mark and composition.

• Mint Marks: These small letters, located below the date, indicate where the coin was minted:

• 'P' for Philadelphia (generally absent before 1979)

• 'D' for Denver

• 'S' for San Francisco

• Composition: Wheat Pennies were primarily made of 95% copper, with small amounts of tin and zinc. During 1943, due to wartime copper shortages, they were briefly struck in zinc-coated steel.

 

 

Key Factors Affecting Lincoln Wheat Penny Valuation:

Several factors determine the value of a Lincoln Wheat Penny. Understanding these elements is essential for accurate valuation.

• Condition/Grade:

• The coin's condition, or grade, is paramount. Grading ranges from 'Poor' to 'Uncirculated,' reflecting the coin's wear and preservation.

• Poor (PO-1): Heavily worn, barely legible.

• Good (G-4): Worn, but details are visible.

• Fine (F-12): Moderate wear, details are clear.

• Uncirculated (MS-60+): No wear, original luster.

• Grading services like NGC and PCGS provide professional assessments.

 

• Rarity:

• Certain dates and mint marks are significantly rarer than others.

• Notable rarities include:

• 1909-S VDB: The rarest Wheat Penny, with a limited mintage.

• 1914-D: A key date with a low mintage.

• 1943 Copper: Extremely rare, as most 1943 pennies were steel.

• Mintages are available from the U.S. Mint archives and reputable numismatic sources.

• Errors and Varieties:

• Doubled die errors, off-center strikes, and planchet errors can significantly increase a coin's value.

• The "VDB" initials on the reverse of the 1909 coins have a very interesting story.

• Visual Aids: (Include images of common and rare errors.)

• Market Demand:

• Current market trends, collector interest, and economic conditions influence coin values.

• Popular culture can also affect demand.

 

Lincoln Cent Grading Guide

PO-01
The date and some letters will remain legible, though the final digit may be nearly worn away. Lincoln’s bust will merge into the fields, losing distinct definition. On the reverse, central details will be visible, but the outer elements will be heavily worn, with only a few letters still discernible.

AG-03
Most details will be heavily worn, with the outer letters blending into the rim. Lincoln’s head will remain fully outlined, though the final digit of the date may be faint. The wheat ears or memorial building will have lost all distinguishable details.

G-04
The head will retain minimal details, with part of the ear and bow tie still visible. The date will be worn but remain clearly legible. The wheat design will be nearly flat, with only a few grains still distinguishable. On Memorial cents, the columns will be outlined, but Lincoln and the steps will be entirely worn away.

G-06
Most of Lincoln's details will be worn smooth, though some lines in the hair and coat may still be visible. The upper wheat ears will be mostly smooth, with only a few lines faintly discernible.

VG-08
The hair will be smooth but still outlined. The jacket fold and more than half of the bow tie will remain visible. About half of the wheat lines and most kernels can be seen. On Memorial cents, a few steps will be distinguishable, with the FG and Lincoln appearing weak but still visible.

VG-10
About a third of Lincoln’s hair detail and the jacket folds will remain visible. On the reverse, approximately half of the wheat lines at the top of the wheat ear will be discernible.

F-12
Some hair details will be visible at the top of Lincoln’s head, with a distinct outline of the lower jaw. The earlobe and bow tie knot will be clear, and there will be separation between the jacket and shirt. On the reverse, about 80% of the wheat lines at the top of the stalk will be visible, with well-defined kernels in the lower wheat stalk. Memorial cents will display about one-third of the steps, and most of Lincoln’s body will be visible on the statue.

F-15
Parts of the cheek and jaw will be distinct. The upper wheat lines will show more defined detail, and the grains will begin to appear. On Memorial cents, the columns will lack detail, and half of the steps will be worn smooth.

VF-20
Most of the hair detail on the top of the head will be visible, with the ear nearly fully intact. The bow tie will be worn but still distinguishable, and some details in the beard will remain. On the reverse, most separation lines in the tops of the wheat ears, along with the kernels, will be visible. The Memorial building will retain half of the steps and about half of the circles and semicircles at the top, while the columns will remain worn smooth.

VF-35
The hair at the back of the head will remain outlined, with only slight wear on the ear and bow tie. Some hair on the neck will still be visible. The lines in the wheat stalk will show minimal wear. On Memorial cents, the columns will retain some detail, and Lincoln’s statue will be outlined, though the legs will be faint or nearly worn away.

XF-40
Wear will be visible on the hair above the ear and on some of the high points at the top of the head. The ear’s outline will remain complete, with the sideburns and eyebrow ridge clearly visible. The high points of the wheat stalks will show wear. The Memorial building will display more than half of the steps, with some lines visible in the columns. The details at the top of the building will be outlined.

XF-45
A hint of mint luster will remain. Only minor wear will be noticeable on the cheeks and jaw, with slight wear on the high points of the hair. The wheat lines will remain sharp. The Memorial building will show minimal wear, with the steps clearly visible, and the lines on the columns will be distinguishable.

AU-50
About three-quarters of the mint luster will be visible. Traces of wear will appear on the cheek and jaw, with slight wear on the high points of the hair. The top of the wheat stalks will show some wear, and the memorial reverse will display only minimal wear on the steps, pillars, and other high points.

AU-53
About three-quarters of the mint luster will be visible. Traces of wear will appear on the cheek and jaw, with slight wear on the high points of the hair. The top of the wheat stalks will show some wear, and the memorial reverse will display only minimal wear on the steps, pillars, and other high points.

AU-55
Nearly all of the mint luster will be intact, with only a slight trace of wear on the jaw. A faint trace of wear will be visible on the wheat stalks or the steps of the Memorial Building.

AU-58
There will be minimal abrasion visible on the high points of the cheek and jaw, with slight wear on the wheat tips or steps of the Memorial. The coin will be free of noticeable spots or contact marks.

MS-60
An MS60 coin will display no signs of wear but may have noticeable spotting, contact marks, and hairlines. The mint luster will generally be dull and muted, and these coins are often considered less visually appealing.

MS-61
The coin will exhibit visible contact marks, spotting, and/or hairlines. The mint luster will be reduced but not as dull as in an MS60 coin. Planchet and striking defects may be noticeable, and there may be multiple rim dings.

MS-62
The coin will have overall acceptable eye appeal, though it will show numerous contact marks in the focal areas and rim dings. The mint luster will be subdued.

MS-63
(Choice) The coin will exhibit slightly diminished mint luster, with numerous small contact marks and possibly a few larger ones. The fields may show scuff marks. Overall, the coin's appearance will be average.

MS-64
The coin will display average mint luster, with numerous small contact marks and possibly a couple of heavier ones. Overall, it will have pleasant eye appeal.

MS-65
(Gem) – The MS65 coin will feature a strong strike and attractive mint luster. It may have a few contact marks and minor scuffing, but overall, it will offer excellent eye appeal.

MS-66
The coin will display full mint luster and a sharp strike. It may have a few minor contact marks, but its overall eye appeal will be above average.

MS-67
(Superb) The coin will feature exceptional mint luster and a crisp strike. There may be a few very small contact marks, no more than three or four, with clean fields. MS67 coins will offer outstanding eye appeal.

MS-68
The coin will display exceptional mint luster and a sharp strike. It may show three or four very light contact marks, with no hairlines or scuff marks. The overall eye appeal will be remarkable.

MS-69
The coin will have no more than a couple of barely noticeable contact marks. Its eye appeal will be outstanding.

MS-70
The coin will exhibit flawless mint luster and a perfect strike. There will be no visible contact marks, even under magnification, and it will have no hairlines, scuff marks, or planchet defects. The eye appeal will be flawless.

 

Lincoln Wheat Penny Valuation Guide (By Year and Mint Mark):

 

Date		Mintage	Good	Very Fine	Extremely Fine	Uncirculated
1909 Wheat Penny (VDB)		27,995,000	$15.00	$18.00	$19.00	$25.00
1909-S Wheat Penny  (VDB)		484,000	$600.00	$725.00	$850.00	$1,200.00
1909 Wheat Penny		72,702,618	$4.00	$7.00	$8.00	$17.00
1909-S Wheat Penny		1,825,000	$80.00	$130.00	$150.00	$300.00
1910 Wheat Penny		146,801,218	$0.35	$1.50	$4.00	$18.00
1910-S Wheat Penny		6,045,000	$17.00	$25.00	$45.00	$100.00
1911 Wheat Penny		101,177,787	$0.45	$2.50	$6.00	$21.00
1911-D Wheat Penny		12,672,000	$6.00	$20.00	$50.00	$95.00
1911-S Wheat Penny		4,026,000	$35.00	$60.00	$75.00	$185.00
1912 Wheat Penny		68,153,060	$1.25	$5.50	$1.00	$35.00
1912-D Wheat Penny		10,411,000	$7.00	$25.00	$65.00	$170.00
1912-S Wheat Penny		4,431,000	$20.00	$40.00	$75.00	$180.00
1913 Wheat Penny		76,532,352	$0.85	$4.00	$18.00	$35.00
1913-D Wheat Penny		15,804,000	$3.00	$10.00	$50.00	$110.00
1913-S Wheat Penny		6,101,000	$10.00	$30.00	$60.00	$175.00
1914 Wheat Penny		75,238,432	$0.75	$6.00	$20.00	$55.00
1914-D Wheat Penny		1,193,000	$150.00	$250.00	$700.00	$2,000.00
1914-S Wheat Penny		4,137,000	$20.00	$40.00	$85.00	$325.00
1915 Wheat Penny		29,092,120	$1.75	$18.00	$60.00	$90.00
1915-D Wheat Penny		22,050,000	$2.00	$7.00	$22.00	$85.00
1915-S Wheat Penny		4,833,000	$20.00	$35.00	$70.00	$200.00
1916 Wheat Penny		131,833,677	$0.30	$2.00	$8.00	$18.00
1916-D Wheat Penny		35,956,000	$1.00	$6.00	$15.00	$75.00
1916-S Wheat Penny		22,510,000	$1.75	$8.00	$25.00	$105.00
1917 Wheat Penny		196,429,785	$0.30	$2.00	$4.00	$16.00
1917-D Wheat Penny		55,120,000	$0.80	$4.50	$35.00	$80.00
1917-S Wheat Penny		32,620,000	$0.50	$2.50	$10.00	$75.00
1918 Wheat Penny		288,104,634	$0.20	$1.50	$3.00	$16.00
1918-D Wheat Penny		47,830,000	$0.75	$4.00	$12.00	$80.00
1918-S Wheat Penny		34,680,000	$0.50	$3.00	$11.00	$80.00
1919 Wheat Penny		392,021,000	$0.20	$1.00	$3.25	$14.00
1919-D Wheat Penny		57,154,000	$0.50	$4.00	$10.00	$65.00
1919-S Wheat Penny		139,760,000	$0.20	$2.00	$6.00	$50.00
1920 Wheat Penny		310,165,000	$0.20	$0.50	$2.25	$15.00
1920-D Wheat Penny		49,280,000	$1.00	$0.50	$19.00	$80.00
1920-S Wheat Penny		46,220,000	$0.50	$2.25	$10.00	$110.00
1921 Wheat Penny		39,157,000	$0.50	$2.10	$9.00	$50.00
1921-S Wheat Penny		15,274,000	$1.50	$7.00	$35.00	$135.00
1922-D Wheat Penny		7,160,000	$20.00	$27.00	$40.00	$110.00
1923 Wheat Penny		74,723,000	$0.35	$1.00	$5.00	$15.00
1923-S Wheat Penny		8,700,000	$5.00	$12.00	$40.00	$220.00
1924 Wheat Penny		75,178,000	$0.20	$0.85	$5.00	$24.00
1924-D Wheat Penny		2,520,000	$40.00	$60.00	$125.00	$300.00
1924-S Wheat Penny		11,696,000	$2.00	$5.50	$20.00	$125.00
1925 Wheat Penny		139,949,000	$0.20	$0.60	$3.00	$10.00
1925-D Wheat Penny		22,580,000	$1.00	$0.60	$13.00	$75.00
1925-S Wheat Penny		26,380,000	$1.00	$5.00	$12.00	$90.00
1926 Wheat Penny		157,088,000	$0.20	$4.00	$2.00	$8.00
1926-D Wheat Penny		28,020,000	$1.35	$0.50	$14.00	$85.00
1926-S Wheat Penny		4,550,000	$9.00	$5.25	$35.00	$155.00
1927 Wheat Penny		144,440,000	$0.20	$17.00	$2.00	$10.00
1927-D Wheat Penny		27,170,000	$1.25	$0.60	$7.50	$62.00
1927-S Wheat Penny		14,276,000	$1.50	$3.75	$15.00	$85.00
1928 Wheat Penny		134,116,000	$0.20	$5.00	$2.00	$9.00
1928-D Wheat Penny		31,170,000	$0.75	$0.60	$5.50	$37.00
1928-S Wheat Penny		17,266,000	$1.00	$3.00	$9.50	$75.00
1929 Wheat Penny		185,262,000	$0.20	$3.75	$2.00	$8.00
1929-D Wheat Penny		41,730,000	$0.40	$0.75	$5.50	$25.00
1929-S Wheat Penny		50,148,000	$0.50	$2.25	$5.80	$21.00
1930 Wheat Penny		157,415,000	$0.12	$0.50	$1.25	$6.00
1930-D Wheat Penny		40,100,000	$0.20	$0.55	$2.50	$12.00
1930-S Wheat Penny		24,286,000	$0.20	$0.60	$1.75	$10.00
1931 Wheat Penny		19,396,000	$0.50	$1.50	$4.00	$20.00
1931-D Wheat Penny		4,480,000	$5.00	$8.50	$13.50	$60.00
1931-S Wheat Penny		866,000	$60.00	$100.00	$125.00	$175.00
1932 Wheat Penny		9,062,000	$1.50	$2.50	$4.50	$20.00
1932-D Wheat Penny		10,500,000	$1.50	$2.75	$4.50	$19.00
1933 Wheat Penny		14,360,000	$1.50	$3.00	$6.25	$20.00
1933-D Wheat Penny		6,200,000	$3.50	$7.25	$12.00	$23.00
1934 Wheat Penny		219,080,000	$0.12	$0.30	$1.00	$7.00
1934-D Wheat Penny		28,446,000	$0.20	$0.75	$2.25	$20.00
1935 Wheat Penny		245,388,000	$0.15	$0.25	$0.50	$3.00
1935-D Wheat Penny		47,000,000	$0.15	$0.25	$0.50	$5.00
1935-S Wheat Penny		38,702,000	$0.15	$0.50	$2.00	$12.00
1936 Wheat Penny		309,632,000	$0.15	$0.50	$1.50	$3.00
1936-D Wheat Penny		40,620,000	$0.15	$0.50	$1.00	$3.00
1936-S Wheat Penny		29,130,000	$0.15	$0.55	$1.00	$5.00
1937 Wheat Penny		309,170,000	$0.15	$0.50	$1.00	$3.00
1937-D Wheat Penny		50,430,000	$0.15	$0.40	$1.00	$5.00
1937-S Wheat Penny		34,500,000	$0.15	$0.40	$1.00	$5.00
1938 Wheat Penny		156,682,000	$0.15	$0.40	$1.00	$4.00
1938-D Wheat Penny		20,010,000	$0.20	$0.80	$1.25	$4.00
1938-S Wheat Penny		15,180,000	$0.40	$0.75	$1.10	$4.00
1939 Wheat Penny		316,466,000	$0.15	$0.25	$0.50	$2.00
1939-D Wheat Penny		15,160,000	$0.50	$0.85	$1.25	$4.00
1939-S Wheat Penny		52,070,000	$0.15	$0.75	$1.00	$3.00
1940 Wheat Penny		586,810,000	$0.15	$0.40	$0.60	$2.00
1940-D Wheat Penny		81,390,000	$0.15	$0.60	$0.75	$3.00
1940-S Wheat Penny		112,940,000	$0.15	$0.50	$1.00	$3.00
1941 Wheat Penny		887,018,000	$0.15	$0.30	$0.60	$2.00
1941-D Wheat Penny		128,700,000	$0.15	$0.50	$1.00	$4.00
1941-S Wheat Penny		92,360,000	$0.15	$0.50	$1.00	$4.00
1942 Wheat Penny		657,796,000	$0.15	$0.25	$0.50	$1.00
1942-D Wheat Penny		206,698,000	$0.15	$0.25	$0.50	$1.00
1942-S Wheat Penny		85,590,000	$0.20	$0.85	$1.25	$7.00
1944 Wheat Penny		1,435,400,000	N/A	$0.20	$0.20	N/A
1944-D Wheat Penny		430,578,000	N/A	$0.20	$0.20	N/A
1944-S Wheat Penny		282,760,000	N/A	$0.20	$0.20	N/A
1945 Wheat Penny		1,040,515,000	N/A	$0.20	$0.20	N/A
1945-D Wheat Penny		266,268,000	N/A	$0.20	$0.20	N/A
1945-S Wheat Penny		121,770,000	N/A	$0.20	$0.20	N/A
1946 Wheat Penny		991,655,000	N/A	$0.20	$0.20	N/A
1946-D Wheat Penny		315,690,000	N/A	$0.20	$0.20	N/A
1946-S Wheat Penny		198,100,000	N/A	$0.20	$0.20	N/A
1947 Wheat Penny		190,555,000	N/A	$0.20	$0.20	N/A
1947-D Wheat Penny		194,750,000	N/A	$0.20	$0.20	N/A
1947-S Wheat Penny		99,000,000	N/A	$0.25	$0.25	N/A
1948 Wheat Penny		317,570,000	N/A	$0.20	$0.20	N/A
1948-D Wheat Penny		172,637,500	N/A	$0.20	$0.20	N/A
1948-S Wheat Penny		81,735,000	N/A	$0.30	$0.30	N/A
1949 Wheat Penny		217,775,000	N/A	$0.20	$0.20	N/A
1949-D Wheat Penny		153,132,500	N/A	$0.20	$0.20	N/A
1949-S Wheat Penny		64,290,000	N/A	$0.30	$0.30	N/A
1950 Wheat Penny		272,635,000	N/A	$0.20	$0.20	N/A
1950-D Wheat Penny		334,950,000	N/A	$0.20	$0.20	N/A
1950-S Wheat Penny		118,505,000	N/A	$0.25	$0.25	N/A
1951 Wheat Penny		284,576,000	N/A	$0.25	$0.25	N/A
1951-D Wheat Penny		625,355,000	N/A	$0.12	$0.12	N/A
1951-S Wheat Penny		136,010,000	N/A	$0.30	$0.30	N/A
1952 Wheat Penny		186,775,000	N/A	$0.15	$0.15	N/A
1952-D Wheat Penny		746,130,000	N/A	$0.15	$0.15	N/A
1952-S Wheat Penny		137,800,004	N/A	$0.20	$0.20	N/A
1953 Wheat Penny		256,755,000	N/A	$0.15	$0.15	N/A
1953-D Wheat Penny		700,515,000	N/A	$0.15	$0.15	N/A
1953-S Wheat Penny		181,835,000	N/A	$0.15	$0.15	N/A
1954 Wheat Penny		71,640,050	N/A	$0.35	$0.35	N/A
1954-D Wheat Penny		251,552,500	N/A	$0.12	$0.12	N/A
1954-S Wheat Penny		96,190,000	N/A	$0.12	$0.12	N/A
1955 Wheat Penny		330,958,200	N/A	$0.10	$0.12	N/A
1955-D Wheat Penny		263,257,500	N/A	$0.10	$0.12	N/A
1955-S Wheat Penny		44,610,000	N/A	$0.20	$0.12	N/A
1956 Wheat Penny		420,745,000	N/A	$0.10	$0.12	N/A
1956-D Wheat Penny		1,098,201,100	N/A	$0.10	$0.12	N/A
1957 Wheat Penny		282,540,000	N/A	$0.10	$0.12	N/A
1957-D Wheat Penny		1,051,342,000	N/A	$0.10	$0.12	N/A
1958 Wheat Penny		252,525,000	N/A	$0.10	$0.12	N/A
1958-D Wheat Penny		800,953,300	N/A	$0.10	$0.12	N/A
1959 Penny - Memorial Reverse
1960 Penny - Memorial Reverse
1961 Penny - Memorial Reverse
1962 Penny - Memorial Reverse
1963 Penny - Memorial Reverse
1964 Penny - Memorial Reverse
1964-D Penny - Memorial Reverse
1966 Penny - Memorial Reverse
1967 Penny - Memorial Reverse
1968 Penny - Memorial Reverse
1968 D penny - Memorial Reverse
1969 Penny - Memorial Reverse
1969 D Penny - Memorial Reverse
1970 Penny - Memorial Reverse
1971 Penny - Memorial Reverse
1972 Penny - Memorial Reverse
1973 Penny - Memorial Reverse
1974 Penny - Memorial Reverse
1975 Penny - Memorial Reverse
1976 Penny - Memorial Reverse
1977 Penny - Memorial Reverse
1978 Penny - Memorial Reverse
1979 Penny - Memorial Reverse
1980 Penny - Memorial Reverse
1981 Penny - Memorial Reverse
1982 Penny - Memorial Reverse
1982 D Penny - Memorial Reverse

*Source Red Book

 

How to Determine the Value of Your Lincoln Wheat Penny

Now that you understand the factors influencing value, let's explore how to determine the worth of your specific Lincoln Wheat Penny.

1. Self-Assessment:
   • Carefully examine your coin for wear, damage, and any distinguishing features.
   • Compare your coin to images of graded examples to estimate its grade.
   • Use online resources like PCGS Photograde and NGC Coin Explorer to assist in grading.
2. Professional Grading (Recommended):
   • For accurate and reliable grading, submit your coin to a reputable grading service like NGC or PCGS.
   • Certified coins receive a grade and are encapsulated in a protective holder, increasing their value and marketability.
3. Online Resources:
   • Utilize online price guides and auction records to research the value of your coin based on its year, mint mark, and grade.
   • Reputable sources include:
     • PCGS Price Guide
     • NGC Price Guide
     • Bullion Shark Guides
     • eBay (for recent sales data)
4. Spotting Fakes:
   • Be aware of counterfeit Lincoln Wheat Pennies.
   • Look for inconsistencies in design, weight, and metallic composition.
   • If unsure, consult a professional numismatist or grading service.

 

Storing and Preserving Your Lincoln Wheat Pennies

Proper storage is essential to maintain your Lincoln Wheat Pennies' condition and value.

• Handling:
  • Always handle coins by their edges to avoid fingerprints and damage.
  • Use cotton gloves when handling valuable coins.
• Storage Solutions:
  • Store coins in protective holders, such as:
    • 2x2 cardboard flips
    • PVC-free plastic flips
    • Air-tite capsules
    • Hard plastic slabs (for certified coins)
  • Organize your collection in albums or coin boxes.
• Environmental Considerations:
  • Store your collection in a cool, dry place away from direct sunlight and humidity.
  • Avoid extreme temperature fluctuations.

 

By understanding the factors that influence Lincoln Wheat Penny value and following the steps outlined in this guide, you can accurately assess your collection and make informed decisions about buying, selling, or preserving these iconic coins. Remember, knowledge is key in the world of coin collecting. Continue exploring, learning, and expanding your numismatic horizons!

FAQ 

What is the most valuable Lincoln Wheat Penny?

The 1909-S VDB Lincoln Wheat Penny is generally considered the most valuable, especially in high grades.

Are all 1943 Lincoln Pennies made of steel?

While the majority of 1943 pennies were struck in zinc-coated steel, a very small number were mistakenly made using copper planchets, making them extremely rare and valuable.

Where can I sell my Lincoln Wheat Pennies?

You can sell your coins through various channels, including:

• Local coin shops
• Online auction platforms 
• Consignment with a reputable coin dealer
• Coin shows and conventions