By ARU 
Wheat pennies, minted from 1909 to 1958, are some of the most well-known and beloved coins in American history. Featuring the iconic image of two stalks of wheat on the reverse, these pennies were in circulation for nearly half a century. While most wheat pennies are only worth their face value of one cent, some are incredibly rare and highly valuable, especially those with unique features, errors, or low mintage numbers.
If you’re a coin collector or just interested in the history of U.S. currency, you might have a rare wheat penny in your collection that could be worth much more than just one cent. In this article, we’ll highlight the 10 most valuable wheat pennies and explain what makes them so special.
1. 1909-S VDB Wheat Penny – The Most Famous Rare Coin
The 1909-S VDB is perhaps the most famous and sought-after wheat penny of all. This coin was the first to feature the initials “VDB” (for designer Victor David Brenner) on the reverse, located at the bottom of the wheat stalks. The 1909-S VDB penny was produced at the San Francisco Mint, and a very limited number of these coins were minted. As a result, it’s incredibly rare and valuable.
- Value: In good condition, the 1909-S VDB wheat penny is worth around $1,000. In higher grades, especially in mint state (MS-65 or higher), this coin can be worth $10,000 or more. A well-preserved example could even fetch upwards of $100,000 at auction.
2. 1914-D Wheat Penny – A Rare Mintmark Coin
The 1914-D wheat penny, minted in Denver, is another highly sought-after coin. Due to a low mintage and high demand, this penny is considered one of the most valuable in the series. The “D” mintmark indicates it was produced at the Denver Mint, and only a limited number were made that year, making it much rarer than other pennies from the same period.
- Value: A 1914-D wheat penny in good condition is typically worth $500 to $1,000. In excellent or uncirculated condition, it can easily be worth $2,000 or more. Coins in higher grades (MS-65 or higher) could reach values of $10,000 or more.
3. 1922 No D Wheat Penny – The Famous Mintmark Error
The 1922 No D wheat penny is one of the most famous error coins in the wheat penny series. This coin is unique because it was intended to have a “D” mintmark (from the Denver Mint), but the mintmark was either weakly struck or completely absent. As a result, the 1922 No D penny is incredibly rare and highly valuable, especially for collectors interested in error coins.
- Value: A 1922 No D wheat penny in good condition is worth about $400 to $800. In higher grades, it can be worth $2,000 or more. A coin in excellent or uncirculated condition can fetch up to $10,000 or higher, depending on its quality.
4. 1931-S Wheat Penny – The Low-Mintage Coin
The 1931-S wheat penny, minted at the San Francisco Mint, is considered one of the most valuable and rarest coins in the entire wheat penny series. Only a small number of these pennies were made, making it a rare find for collectors. While it may not be as famous as other rare pennies, its scarcity makes it highly sought after.
- Value: A 1931-S wheat penny in good condition can be worth around $100 to $150. In higher grades, such as MS-65, the coin can reach values of $500 to $1,000 or more. Coins in uncirculated or gem condition can fetch even higher prices.
5. 1909 VDB Wheat Penny – The First Year of the Series
The 1909 VDB wheat penny is significant because it marks the first year the wheat penny series was minted. It was also the first U.S. coin to feature the initials of its designer, Victor David Brenner, on the reverse. Although it’s not as rare as the 1909-S VDB, the 1909 VDB still holds significant value due to its historical importance and popularity among collectors.
- Value: A 1909 VDB wheat penny in good condition can be worth around $100 to $150. In higher grades, such as MS-65 or higher, it can be worth between $500 and $1,000. The most pristine examples can easily fetch thousands of dollars.
6. 1924-D Wheat Penny – A Rare Mintmark Coin
The 1924-D wheat penny, minted in Denver, is another rare and valuable coin from the wheat penny series. Although its mintage was not as low as other rarer years, it is still considered scarce, especially in higher grades. Collectors often seek this coin for its low availability in uncirculated conditions.
- Value: A 1924-D wheat penny in good condition may be worth around $30 to $50. In uncirculated or higher grades, it can be worth $500 to $1,000. Coins in MS-65 or better condition may fetch upwards of $2,000.
7. 1937-D 3-Legged Wheat Penny – The Famous Error Coin
The 1937-D 3-legged wheat penny is one of the most famous error coins in U.S. coinage. This coin features a distinct error where one of the legs of the buffalo on the reverse is missing, giving the appearance of a “three-legged” buffalo. The 1937-D 3-legged penny is highly collectible and can be worth much more than a regular wheat penny.
- Value: A 1937-D 3-legged wheat penny in good condition can be worth around $300 to $500. In uncirculated or higher grades, it can easily reach values of $2,000 to $5,000 or more, depending on its quality.
8. 1929-S Wheat Penny – Scarcity Drives Value
The 1929-S wheat penny is a rare coin that is difficult to find in good condition due to its low mintage. This penny was minted at the San Francisco Mint, and its scarcity makes it valuable to collectors. While not as well-known as other rarer pennies, the 1929-S is a must-have for serious collectors of the wheat penny series.
- Value: A 1929-S wheat penny in good condition may be worth around $30 to $50. In higher grades, such as MS-65 or higher, the coin can be worth $1,000 or more. Coins in excellent condition can fetch even higher prices.
9. 1943 Copper Wheat Penny – The Most Famous Wartime Error
The 1943 copper wheat penny is one of the most famous error coins in U.S. history. During World War II, the U.S. Mint switched from using copper to steel for pennies to conserve copper for wartime production. However, a small number of 1943 pennies were mistakenly struck on copper planchets, making them highly valuable and rare.
- Value: A 1943 copper wheat penny in good condition is worth around $100,000 to $200,000 or more, depending on its grade. Coins in higher grades can fetch even higher amounts, making it one of the most valuable error coins in U.S. history.
10. 1911-S Wheat Penny – Rare Mintmark Coin
The 1911-S wheat penny, minted at the San Francisco Mint, is another rare and valuable coin in the wheat penny series. Although not as famous as other rare pennies, it is highly sought after due to its low mintage and difficulty to find in good condition.
- Value: A 1911-S wheat penny in good condition is typically worth around $50 to $100. In higher grades, such as MS-65, it can be worth between $500 and $1,000 or more. Coins in uncirculated or gem condition may fetch higher prices.
Factors That Affect the Value of Wheat Pennies
Several factors can impact the value of a wheat penny, including:
- Rarity: Coins with lower mintages or those that were struck during years of low production tend to be more valuable.
- Condition: Coins that are in excellent or uncirculated condition are worth significantly more than those with wear and damage.
- Mintmark: Coins minted in certain locations (such as “D” for Denver or “S” for San Francisco) are often rarer and more valuable.
- Errors: Wheat pennies with minting errors, such as the 1922 No D or 1943 copper error, are highly collectible and often worth much more than regular coins.
- Demand: The popularity of certain years or specific error coins can drive up demand and increase their value.
Conclusion: Wheat Pennies and Their Lasting Appeal
Wheat pennies remain a fascinating part of U.S. coin history, and some of these coins are worth far more than their original one-cent value. Whether you have a rare 1909-S VDB penny or a 1943 copper error coin, there’s a good chance that your wheat penny could be worth a small fortune. As always, it’s important to have your coins professionally graded to determine their true value, especially if you suspect they might be rare or valuable. Happy collecting!