Are Wheat Pennies Really Valuable? What’s Actually Worth Keeping
Almost every coin collector starts the same way — by finding a wheat penny in pocket change and wondering, “Is this worth anything?” With their old-fashioned design and historical charm, wheat cents (officially the Lincoln Wheat Reverse Cent, 1909–1958) have fascinated collectors for generations.
But not all wheat pennies are created equal. Some are worth only a few cents, while others can be worth thousands. Let’s break down what separates common wheat cents from the truly valuable ones.
A Quick History of Wheat Pennies
The Lincoln Wheat Cent debuted in 1909 to honor the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. circulating coin to feature a real person.
Designer Victor David Brenner created the famous portrait of Lincoln, with two wheat stalks on the reverse — symbolizing prosperity and strength.
Wheat cents were struck from 1909 to 1958, when the design changed to the Lincoln Memorial reverse in 1959.
Metal Composition
Wheat pennies are made of 95% copper and 5% tin and zinc — until 1943, when copper was needed for World War II. That year, cents were made of zinc-coated steel, creating the famous 1943 “steel penny.”
Which Wheat Pennies Are Actually Valuable?
1. Key Dates and Mint Marks
Certain dates and mint marks were struck in much lower quantities, making them highly collectible.
Here are the key wheat cent dates to look for:
YearMint MarkMintageNotes1909-S VDBS484,000The most famous key date; worth hundreds to thousands.1914-DD1.2 millionScarce; values range from $100+ in average grade.1922 No DNone—Missing mint mark due to die fill; major variety worth big money.1931-SS866,000Low mintage; collectible in any grade.1943 CopperP/D/S~40 knownExtremely rare off-metal error; worth tens of thousands.
Tip: Any early “S” mint mark (San Francisco) cent is worth checking — many are scarcer than their Philadelphia or Denver counterparts.
2. Errors and Varieties
Aside from key dates, some wheat cents are valuable because of minting mistakes or die varieties.
Look for:
1955 Doubled Die Obverse (DDO) — the letters and date show dramatic doubling; worth hundreds to thousands.
1944 Steel Cents — transitional errors from leftover 1943 planchets.
Repunched Mint Marks (RPMs) and Double Dies from the 1940s–1950s — these can bring $10–$100+.
3. Condition and Originality
Condition matters! A common wheat penny in Mint State (MS-65) condition can be worth several dollars, while a worn example might only fetch 2–3¢.
Avoid cleaning or polishing them — cleaned coins lose value fast. Natural toning and original surfaces are always preferred.
What Most Wheat Pennies Are Worth
The truth: Most wheat cents are worth between 2¢ and 10¢ each.
Common dates from the 1940s and 1950s were struck by the billions. Even a full roll of these will only bring a few dollars.
However, the fun of wheat pennies is the hunt — anyone can search rolls and jars for the few that are valuable, and the knowledge you gain is worth more than the coins themselves.
Tips for Collectors
Check every 1909–1930s cent carefully. Earlier dates are where most key finds hide.
Sort by mint mark: “S” and “D” mints are usually scarcer than “no mint mark” (Philadelphia).
Use a magnifier: Doubling, RPMs, and die cracks can be subtle.
Store properly: Keep coins dry and avoid PVC holders — copper reacts easily to moisture.
Reference tools: Use your coincollectingtools.com value guide to look up current prices.
Final Thoughts
Wheat pennies are a perfect gateway into the world of coin collecting. They’re inexpensive, full of history, and still hiding in collections and rolls today.
Most may only be worth face value — but the knowledge you gain while searching can lead you to spot the next rare variety or valuable coin others might miss.
Keep learning, keep checking dates, and you might just find a tiny copper treasure in your next handful of change.