Hello Friends, Do you know that the Lincoln Cent is actually the Lincoln Penny, first made in 1909? Nowadays, it is the most popular coin in the United States.
They were designed by a person who’s name is Victor David Brenner. On the front side, it features President Lincoln, while on the backside, it originally had two stalks of wheat. And because of this design, people call it the “wheat penny.”
The wheat design was in use from the year 1909 through 1958. In fact this is really an important time in American coin collecting history. Throughout the years the wheat pennies increased in value; some have mint errors and are getting rarer to find.
Okay, here is the untold story which ranks this particular penny in the list of collectible numismatic coins.
History of Wheat Penny
As we know, this coin was first made in 1909? And you will shocked to know that is still used in the USA. These coins are mints at mints in Philadelphia, Denver, and San Francisco.
If you look these coins closely, you will find a tiny mint mark. But the fun fact is that the coins from Philadelphia don’t have a mint mark at all.
One side (front side) of coin is look almost same as it look years ago, but it’s another side (back side) is changed a few times.
Back side of coin is changed continuously from 1958 to 1989 and then in 2009 to celebrate its 100th birthday.
From 1909 to 1981, these coins were designed using copper. But during world war II there wasn’t enough copper, so these coins are designed using steel.
Factors Affecting Wheat Penny Value
The value of wheat pennies primarily hinges on the coin itself. Amongst these aspects, elements like rarity, limited copies, and historical relevance have predominant roles. However, closer examination can provide more information about the Wheat penny value. Experts consider several key aspects:
Authenticity
There is a risk of getting counterfeit coins, so it is necessary to check the genuineness. A genuine coin will have specific mint marks and characteristics. These details differ based on the mint location (e.g., Philadelphia, Denver, and San Francisco). Philadelphia Mint, for instance, typically struck out more coins in circulation and has no mint mark.
Coins from this Mint are generally valued less than those struck by San Francisco and Denver mints (which carry “S” AND “V” mint marks, respectively) in terms of scarcity. Some shrewd dealer would try to sell you Philadelphia coins for higher prices. So be aware! To counter check the value of a particular coin, its authenticity and Mint Mark have to be verified first.
Condition
Specifically, the condition of a particular coin plays a substantial role in determining its worth. The circulated coins, no matter how valuable or impressive their history is, tend to be bought for less than the mint condition ones. Uncirculated coins are scarcer and, hence, more valuable among coin collectors due to their superior condition. Coins that have been preserved well will always be worth more.
Appearance
The overall look of a coin, especially when it is in mint condition, plays a crucial role in determining its worth. Factors include:
- Sheen: The fact that both sides of the coin are reflective in nature.
- Luster: The brightness and depth of the coin’s shine.
- Color: The coin’s hue, which can indicate its age and condition.
- Strike: The detail and definition of the writing and image on the face of the coin.
- Preservation Strategies: Techniques employed to ensure that the physical integrity of the coin is well preserved.
An appraisal can provide detailed insights into how these factors affect Wheat penny value. As it is quite obvious, a well-preserved penny will command a higher price compared to one in poorer condition. Find out more detailed information about a penny. Please visit this blog: Wheat Penny Value.
Noteworthy Wheat Pennies
Not every wheat penny will make you rich, as most typically trade for between three and five cents. While this might not sound like a fortune, it represents a 300%-500% return on the original value, which is a solid gain for long-term collectors. However, some of the wheat pennies are rumored to be valued at several thousand dollars. All of these are comparatively rare, and you may not even have one in your collection. It, therefore, only makes sense to look at your pennies a bit closer to determine if you really are that lucky. Some noteworthy pennies with high valuation are:
1.   1958-P D.D.O. Penny
Value: $100,000 – $200,000
This coin features one of the rarest doubled die obverse (D.D.O.) errors in wheat pennies. The inscriptions “IN GOD WE TRUST” and “LIBERTY” on the front of the coin are noticeably doubled. The year “1958” also has a hint of a double. However, it is considerably less apparent and may not be noticed without zooming in.
2.  1943 Bronze Penny
Value: $300,000+
In 1943, World War II required large amounts of copper, so the U. S. Mint had to replaced it with steel.
However, due to an error, a few copper planchets from 1942 were used in 1943. Many of these coins were minted at the Philadelphia Mint. This penny is also one of the most counterfeited; if it sticks to a magnet, it is counterfeit. Collectors should also be wary of altered dates where an “8” has been filed down to look like a “3.”
3.   1943-S Bronze Penny
Value: $500,000+
Bottom Line: Like the 1943 pre-production copper pennies struck at the Philadelphia Mint, this error coin was produced at the San Francisco Mint. Although slightly more plentiful than its 1943-D counterpart, only about five of these pennies are known to exist, making them extremely rare.
4.  1944-S Steel Penny
Value: $700,000 – $1,000,000
Bottom Line: This penny is another result of using leftover steel planchets from 1943 for 1944 production. It is the proof Mint of that year, and there are only two of them from the San Francisco Mint in existence.
5.  1943-D Bronze Penny
Value: $800,000 – $2 million
Bottom Line: Back in the day, a worker at the Denver Mint might have hand-fed a bronze planchet (that’s a blank coin) into the press and struck it twice. Pretty cool, right?
But wait, there’s another twist! Dr. Sol Taylor, a coin expert, thinks it might have been made on purpose by John R. Sinnock, who was the chief engraver of the U.S. Mint. And guess what? This special penny was found in the belongings of a woman Sinnock dated in the 1940s.
Conclusion
Many valuable wheat pennies are still out there, with some even circulating today. If you come across a wheat penny, take a closer look—the Wheat penny value can be a lucrative asset!
For a chance to own or add to your collection, check out the selection of unique numismatics and investment-grade bullion coins available at BOLD Precious Metals. Explore the offerings online to find rare and valuable coins that will not only refine your existing collection but also add investment value.
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