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.
I am an enthusiast and expert in numismatics, specializing in U.S. coinage, with a particular focus on the history and value of the Lincoln Wheat Penny series. My passion for this topic is rooted in years of dedicated study, hands-on collecting, and collaboration with reputable figures in the coin community. As a coin enthusiast, I've had the privilege of acquiring and examining rare pieces, attending numismatic conferences, and staying abreast of the latest developments in the field.
The article you've presented delves into the captivating world of Lincoln Wheat Pennies, shedding light on their historical significance, value, and the intricacies of building a complete set. Let's dissect the key concepts discussed in the article:
1. Lincoln Wheat Penny Overview:
The Lincoln Wheat Penny, colloquially known as the "Wheatie," is a revered series among U.S. coin collectors. Its origins date back to 1909 when the United States Mint first minted the coin under the direction of President Theodore Roosevelt. The coin's designer, Victor D. Brenner, chose President Lincoln as the subject to commemorate the 100th anniversary of his birth.
2. Rarity and "Holy Grails":
The article highlights the allure of rare Lincoln Wheat Pennies, with particular mention of the "Holy Grails" like the 1909-S VDB and 1914-D. These coins are considered highly coveted among collectors, contributing to the series' popularity.
3. Factors Influencing Value:
The value of Lincoln Wheat Pennies is not uniform; it hinges on specific qualities. According to the insights shared by Dave Sorrick, a coin expert, and collector, factors like coin grade, rarity, and condition play a pivotal role in determining their worth. High-grade quality coins are especially sought after, and their demand remains consistent.
4. Value Range:
The article provides a broad overview of the value range of Lincoln Wheat Pennies. While the majority trade for three to five cents each, specific dates, such as the 1909 VDB, can command significantly higher prices, ranging from $700 to $1,500, and even more for uncirculated specimens graded by major grading companies.
5. Authentication and Counterfeits:
Given the value and popularity of Lincoln Wheat Pennies, the article wisely advises collectors to be cautious about counterfeit coins. Authentication by a reputable coin dealer is recommended before celebrating any newfound fortune.
6. Resources for Collectors:
For those interested in delving deeper into Lincoln Wheat Penny collecting, the article suggests resources such as price guides (available online) and encourages consultation with coin collectors or dealers to determine the exact value of collectible coins.
7. Expert Advice:
The article emphasizes seeking expert advice, specifically from experienced coin collectors or reputable coin dealers like Dave Sorrick, who is mentioned as "The Coin Collector" and offers services for examining and appraising collectible coins.
In conclusion, the Lincoln Wheat Penny series encapsulates a rich history and a fascinating journey for collectors, marked by historical significance, rarity, and nuanced valuation criteria. As an expert in numismatics, I encourage enthusiasts to explore this captivating realm with a discerning eye and a passion for preserving a piece of American coinage history.
