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The Real Value of Wheat Pennies
By Jeff Leftwich
Wheat pennies are United States one cent coins that were issued between 1909 and 1958. They are also known as Lincoln wheat cents. The obverse and the reverse were designed by a famous New York sculptor named Victor David Brenner. The pennies got their name from the two wheat stalks engraved on the reverse of the coins. These pennies replaced the Indian Head design which is in circulation from 1859 to 1909. Wheat pennies enjoyed almost 50 years of production. Several of them are of scarce date and mint mark combination that survived two world wars, The Great Depression and societal changes. These may be the reasons why these coins are considered highly valuable among coin collectors. Coin collectors can never consider their collections complete without the wheat pennies. The most sought after are those with the sculptor’s initial VDB on it and minted in San Francisco, California. Only 484,000 of these coins were produced due to public outcry. Thus, a high grade mint condition of VDB wheat penny can fetch between $6,000 and $12,000, and sometimes even more. Another valuable wheat pennies are the 1909-S VDB and 1914-D. This is because these are error coins. Uncirculated specimens can sell up to $5,500. A 1909-S wheat penny can sell up to $500, a 1922 coin with no mint mark is valued between $650 and $40,000, a 1931-S around $250 and a 1955 Doubled-Die can sell from $950 to $5,000. If you happen to have a few of these wheat pennies, you may want to consider consulting a coin dealer to appraise their actual value. This is due to the fact that not all wheat pennies are valuable. If the wheat penny is worn and minted on a highly common date, it is less likely to fetch as much. With some of them valued with just a little over than $0.10.
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Thank you for this valuable information. This inspries me to organize my collection of pennies, I have several steel pennies and two with NO impression on the front nor the back.
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This intel was contributed by jake149
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May, 2012
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