The Value of Wheat Pennies BY Year: Quick Summary
Wheat pennies (1909–1958) are an essential collecting area for beginner and experienced numismatists. Values vary dramatically by year, mint mark, and grade.
This guide explains how to read year-by-year worth, identify key dates, and make smart buying or selling choices.
Why Year Matters for Wheat Penny Values
Year and mint mark tell you how rare a coin is. Low mintage years and coins with errors or special varieties are usually worth more.
Condition is also crucial. Two pennies of the same year can be worth very different amounts depending on wear, luster, and damage.
Common vs Key Dates in Wheat Pennies
Most wheat pennies are common and worth only face value to pocket change collectors. However, specific years and mint marks are key dates that demand premiums.
- Key dates include low-mintage issues and coins from troubled production years.
- Some well-known valuable dates are 1909-S VDB, 1914-D, and the 1931-S in certain grades.
- Error coins and varieties, like doubled dies, can also be highly valuable regardless of year.
How to Use Year-by-Year Value Guides
Price guides list approximate values by year and grade. Use them as a starting point rather than an exact price. Market demand fluctuates, so values change.
Follow these steps when checking a coin:
- Identify the year and mint mark (D or S under the date).
- Assess the condition: Good (G), Fine (F), Very Fine (VF), Extremely Fine (EF), About Uncirculated (AU), or Mint State (MS).
- Look for known varieties or errors tied to that year.
- Check recent auction results or dealer listings to confirm current market value.
Grading Notes That Affect Value
Small differences in grading can drastically change value. Pay attention to the following features:
- Wear on Lincoln’s cheek and wheat stalks
- Original strike sharpness and luster
- Surface issues like scratches, corrosion, or cleaning damage
The term “wheat penny” comes from the two wheat stalks on the reverse. Some of the highest-value wheat pennies are those with minting errors or very low mintages from early years.
Notable Years and What to Look For
Below are general notes on important year ranges. Use a reliable price guide alongside these notes for exact values.
1909 to 1916: Early Lincoln Cents
1909 introduced the Lincoln cent. Look for the 1909-S VDB and the 1909-S without VDB. Early coins in high grade are very collectible.
1917 to 1929: Transitional Period
Many coins here are common, but watch for mint-marked issues and well-preserved specimens. The 1924-S and certain 1926 varieties can command a premium.
1930s: Great Depression Impact
Mintages fell in some years, creating semi-key dates. The 1931-S is an example that becomes considerably more valuable in higher grades.
1940s to 1958: War Years and Late Wheat Pennies
Wartime production led to special circumstances. The end of the wheat reverse in 1958 marked the transition to the Lincoln Memorial reverse in 1959.
Practical Tips for Collectors Using Year Values
Approach collecting with a plan. Decide whether you’re building a date-and-mint set, seeking high-grade coins, or hunting for errors.
- Start with common years in high grade to establish quality standards.
- Set a budget for chasing key dates and rare varieties.
- Use certification services for high-value coins to reassure buyers and preserve value.
Buying and Selling Strategy
When buying, inspect coins or request detailed photos and grading reports. When selling, compare offers from dealers, auction results, and online marketplaces.
Remember that certification (PCGS, NGC) often increases saleability and can narrow pricing differences for high-value years.
Case Study: A Beginner Uses Year Values to Build a Set
Sarah is a beginner collector who wanted a complete wheat penny set by date and mint. She started by reviewing a year-by-year guide to identify key dates to prioritize.
She saved for the few expensive key dates and bought common years in higher grades. Within two years she completed a representative set, focusing money on the low-mintage years and using certified coins for the most valuable dates.
This method reduced costs while ensuring the set had strong overall quality where it mattered most.
Final Checklist: Evaluating a Wheat Penny by Year
- Confirm the year and mint mark.
- Grade the coin conservatively or consult a dealer.
- Search for varieties or errors tied to that year.
- Compare recent sales and price guides for realistic value.
- Consider certification for coins expected to be high value.
Using a year-by-year approach helps you prioritize purchases and assess value accurately. Keep learning and reference current price guides and auction results to stay updated on market changes.