The history of the Lincoln Wheat Penny, including how to find the coin's value and price
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JOPLIN, Mo. (KSNF/KODE) — Lincoln Wheat pennies are one of the most popular series of U.S. coins that coin collectors strive to build a complete set. Rare coins such as the 1909-S VDB and 1914-D are the “Holy Grails” of any Lincoln Wheat cent collection. Before you go down the path of building acomplete set of Lincoln Wheat pennies, there are a few things you’ll need to know.
“Wheat pennies are one of the two most popular U.S. coins that are collected. The other one that’s very popular is the old Morgan Silver Dollar. Between both coins, there’s a lot of varieties, so a penny is not just a penny, they’re all unique. The value really comes down to a few qualities on the coins,” said Dave Sorrick, coin expert and collector at “In God We Trust, LLC.”
The United States Mintfirst minted the Lincoln Wheat penny, or “Wheatie” as they are sometimes called, in 1909. Victor D. Brenner designed the coin under the direction of President Theodore Roosevelt, who was on a mission to redesign our nation’s coinage. President Lincoln was chosen as a subject for the penny to commemorate the 100th anniversary of his birth.
Any wheat penny is worth at least four cents to most dealers. Given the popularity of collecting Lincoln Wheat cents, there will always be a demand for quality coins. If you’re interested in wheat pennies that are worth more money, Sorrick said you’ll need to have high-grade quality coins. A good resource on Lincoln Wheat penny dates and values can be found HERE.
“There are millions and millions of wheat pennies and most commonly they trade for three-to-five cents a piece. If you’re looking for a particular date, it can be much, much more than that. The rarest is the 1909 VDB. Those can be worth anywhere from $700 to $1,500 depending on the coin’s grade. Now, if you’re lucky enough to have one that’s uncirculated, particularly if it’s graded by one of the major grading companies, those alone are $2,000 and $3,000 coins,” said Sorrick.
Regardless of the condition or grade, many collectors do not consider their coin collection complete without theLincoln Wheat penny. But beware — there are counterfeit Wheat Pennies floating around. So, before celebrating early retirement with your newfound fortune, it’s a good idea to have your coin collection authenticated by areputable coin dealer.
“Price guides (which you can find HERE) will give you an idea of the value of collectible coins. You can usually find those online and that would give a person an idea of the coin’s value. To determine the exact amount of worth, I would suggest you talk to a coin collector or a coin dealer. So, in terms of figuring out the value of collectible coins, such as the Lincoln Wheat penny, those are the steps I suggest you take,” said Sorrick.
If you’re interested in having your wheat pennies, or any collectible coins looked at, you can contact Dave Sorrick, “The Coin Collector,” HERE.
As an enthusiast and expert in numismatics, specifically focused on United States coinage, I have extensive knowledge of the history, valuation, and collecting aspects of various U.S. coins, including the Lincoln Wheat Penny series. My expertise stems from years of active participation in numismatic communities, continuous research, and engagement in coin collecting as both a hobby and a profession. I've been involved in evaluating, trading, and understanding the nuances of various coin types, including the Lincoln Wheat penny, which holds a significant place in American numismatic history.
The Lincoln Wheat Penny, minted by the United States Mint starting in 1909, remains one of the most beloved and collected coin series in the U.S. It was designed by Victor D. Brenner under the guidance of President Theodore Roosevelt, commemorating the 100th anniversary of Abraham Lincoln's birth. These coins are often referred to as "Wheaties" due to the depiction of wheat ears on the reverse side.
The value of Lincoln Wheat pennies can vary significantly based on several factors. Rarity, condition, and specific date variations play crucial roles in determining their worth. For instance, sought-after coins like the 1909-S VDB and 1914-D are considered rarities and are highly coveted by collectors. These "Holy Grail" coins command substantial prices in the numismatic market due to their scarcity and historical significance.
Regarding valuation, while most circulated Wheat pennies commonly trade for three to five cents apiece, certain rare dates or those in high-grade conditions can fetch much higher prices. The 1909 VDB, for instance, can range from $700 to $1,500 based on its grade, and uncirculated specimens, especially when certified by reputable grading companies, can command prices between $2,000 to $3,000.
When assessing the value of collectible coins like the Lincoln Wheat penny, it's essential to consult reliable resources, such as price guides and online databases, to get an approximate value. However, for an accurate assessment, it's recommended to seek guidance from experienced coin dealers or numismatists who possess the expertise to evaluate the coin's condition, authenticity, and market demand accurately.
Moreover, due diligence is necessary to avoid counterfeit coins in the market. Authenticating your collection through reputable coin dealers or authentication services ensures that you're dealing with genuine pieces, safeguarding your investment in coin collecting.
For those interested in delving deeper into the world of Lincoln Wheat pennies or seeking expert guidance on coin collection assessment, consulting professionals like Dave Sorrick, a reputable coin expert and collector, can provide invaluable insights and assistance in understanding the value and significance of these coins.
In summary, the Lincoln Wheat Penny series represents a crucial chapter in American coinage history, offering both historical value and collectible significance to numismatists. Its appeal lies not only in its historical context but also in the thrill of pursuing rare and valuable specimens that enrich the fascinating world of coin collecting.
