Wheat Penny Values: Key Dates That Are Actually Worth Money
Affiliate disclosure: we may earn a commission when a reader opens an account through links on this page. The commission has no effect on what you pay or on what we publish. We are not a financial or tax advisor; consult a licensed advisor for your situation. Last reviewed August 2026.
Short on time? The essentials
- The Lincoln wheat cent ran from 1909 to 1958, with the wheat-ears reverse designed by Victor D. Brenner and the bronze composition set at 95 percent copper.
- Circulated common-date wheat cents typically trade in the few-cents to a-quarter range because billions were minted and enough survived to make them plentiful today.
- The 1909-S VDB is the rarest by date and mint mark, with only 484,000 struck for release, making it the coin most collectors chase first per Wikipedia citing the U.S. Mint record.
- The 1914-D was struck at Denver with a reported mintage of 1,193,000. The date is heavily counterfeited, and any raw 1914-D deserves independent authentication before a sale.
- The 1922 plain cent is a Denver strike where the D mint mark filled with die grease and dropped off certain coins. Denver was the sole mint that produced cents in 1922.
- The 1931-S has a reported mintage of 866,000, one of the lower San Francisco figures of the wheat era, and it carries a real collector premium in original grade.
- Wheat cents weigh 3.11 grams for the bronze years and 2.702 grams for the 1943 zinc-plated steel wartime issue, at a diameter of 19.05 mm per the U.S. Mint composition record.
- The famous 1943 copper cent is not part of this key-date list; it is a separate wartime error with its own guide on this site.
On this page
Why the wheat cent matters
The Lincoln wheat cent was released on August 2, 1909, to mark the 100th anniversary of Abraham Lincoln's birth. It was the first regularly circulating US coin to carry the portrait of a real person. Sculptor Victor D. Brenner designed both the obverse portrait and the two-stalks-of-wheat reverse.
The wheat reverse stayed in production from 1909 through 1958, then gave way to the Lincoln Memorial reverse in 1959. Across those 50 years the Philadelphia, Denver, and San Francisco mints together struck many billions of wheat cents. That is why most surviving examples are common and inexpensive today.
The set does contain a small number of scarce dates. Those scarce coins carry real collector demand because their reported mintages are low compared to the rest of the series. This guide focuses on the four dates that a general searcher is most likely to be holding without knowing it.
The four key dates worth real money
Four wheat cents drive most of the value conversation for a casual collector or an inheritor sorting a jar of pennies. Each one is scarce because its mintage was low, its survival rate was hurt by circulation, or a die anomaly created a genuine variety collectors chase.
| Date and mint | Reported mintage | Why it is a key date |
|---|---|---|
| 1909-S VDB | 484,000 | Rarest wheat cent by date and mint mark. Struck at San Francisco with Brenner's initials on the reverse before they were removed within days of release. Common target of counterfeits. |
| 1914-D | 1,193,000 | Denver-struck cent with a low mintage for the era. Heavily counterfeited from altered 1944-D cents where the second 4 was reshaped into a 1. Authentication is standard practice before sale. |
| 1922 plain (no D) | Included in the 7,160,000 Denver total | Denver was the only mint that produced cents in 1922. Certain dies became clogged with grease and grime, leaving coins with a weak or missing D. The strong-reverse no-D variety is the recognized rarity. |
| 1931-S | 866,000 | San Francisco cent from the Depression era with one of the lowest mintages of the wheat series. Common in circulated grades because collectors saved them at the time. |
Sources: Wikipedia Lincoln cent mintage figures compiled from US Mint production records, and the Wikipedia Lincoln cent article for the 1909-S VDB and 1922 plain narratives. Checked August 2026.
1909-S VDB: the headline rarity
Brenner placed his initials in bold letters at the base of the wheat reverse. Public reaction was quick, and the Mint removed the initials within days of the August 1909 release. San Francisco struck only 484,000 cents with the initials before the change took effect.
That 484,000 figure is the lowest of any wheat cent by date and mint mark. Original mint-red examples with sharp strike are actively pursued by collectors of the series. Any 1909-S VDB should be independently authenticated before you accept a valuation.
1914-D: low mintage and a counterfeit problem
Denver struck 1,193,000 cents dated 1914. The date was saved less aggressively than the 1909-S VDB because it did not have the initials story attached to it. That gap between mintage and survival is why circulated examples still bring a meaningful premium.
The 1914-D is the most commonly counterfeited wheat cent. The Wikipedia mintage table itself flags the date with a note that many counterfeits exist. Independent grading is standard practice for any 1914-D before a serious sale.
1922 plain: the die-grease variety from Denver
The recession of 1922 lowered demand for pennies and only Denver produced them that year. Philadelphia made every die for every mint at the time, and Denver kept using its dies past their normal life. Certain dies became so packed with grease and grit that the D mint mark stopped printing.
The result is a Denver-struck cent that shows no visible mint mark. Collectors and grading services recognize a specific strong-reverse die pair as the true 1922 no-D variety. Weak-D and no-D coins from other dies exist and trade at lower premiums.
1931-S: a Depression-era San Francisco strike
San Francisco struck 866,000 cents dated 1931 as circulation slowed during the Depression. Word of the low mintage traveled fast in the collector community. Many pieces were pulled from circulation almost immediately, so mint-state survivors are more available than the mintage might suggest.
Circulated 1931-S cents still bring a real premium because the base mintage is small and general demand for the coin has held for decades. Original surfaces without cleaning or artificial retoning grade higher and sell for more.
Verified specifications of a wheat cent
Every genuine bronze wheat cent shares the same physical specifications. The table below is the baseline. A coin that fails one of these tests is either a counterfeit, an altered piece, a wartime steel issue from 1943, or a shell-case bronze from 1944 through 1946.
| Attribute | Bronze wheat cent | 1943 wartime steel cent |
|---|---|---|
| Composition | 95 percent copper, with the balance in tin or zinc from 1909 through 1942 and 1944 through 1958. Shell-case brass in 1944 through 1946. | Low-carbon steel core with a thin zinc plating, approximately 99 percent steel by mass. |
| Weight | 3.11 grams | 2.702 grams |
| Diameter | 19.05 mm (0.750 inch) | 19.05 mm (0.750 inch) |
| Edge | Plain | Plain |
| Magnet test | Does not stick | Sticks strongly to a household magnet |
| Obverse | Abraham Lincoln portrait by Victor D. Brenner | Abraham Lincoln portrait by Victor D. Brenner |
| Reverse | Two stalks of wheat by Victor D. Brenner | Two stalks of wheat by Victor D. Brenner |
| Mints | Philadelphia (no mint mark), Denver (D), San Francisco (S) | Same three mints, with the mint mark under the date |
Sources: Wikipedia Lincoln cent article citing the US Mint composition record, and the U.S. Mint historical composition and specifications reference. Checked August 2026.
The mint mark sits on the obverse, just below the date. Philadelphia coins carry no mint mark for wheat-cent-era production. Denver coins show a small D. San Francisco coins show a small S.
The 60-second check on any wheat cent
Before assuming a wheat cent is either common or a treasure, run this fast sequence. It filters out the common dates in about a minute and flags the few pieces that deserve a closer look under magnification.
- Read the date first. Every wheat cent shows a four-digit year on the obverse between 1909 and 1958. If your coin has a different reverse design, it is not a wheat cent at all.
- Find the mint mark under the date. No mark means Philadelphia. A small D means Denver. A small S means San Francisco. Absence or presence of the mark is what turns a common date into a key date.
- Match against the four key dates. The list is short: 1909-S VDB, 1914-D, 1922 plain (Denver only that year), and 1931-S. If your coin does not match one of those four, it is almost certainly a common date.
- Weigh it if the year is 1943. A 1943 cent should be steel and stick to a magnet. A 1943 cent that does not stick and weighs 3.11 grams is a candidate for the rare copper error and belongs in the 1943 steel and copper cent guide.
- Look at the surfaces before you sell. Original brown, red-brown, or red surfaces grade higher than cleaned or heavily worn coins. Do not polish anything.
- Get authentication before any large sale. Key dates and possible errors deserve certification from an independent grading service. Verbal appraisals and social-media photo opinions do not carry weight in the marketplace.
Melt-floor math on a wheat cent
Counterfeits and altered dates
The wheat cent is one of the most commonly faked US coin series because a small change to a date or mint mark can appear to multiply value. The 1914-D and 1909-S VDB attract the most alterations. The 1922 plain also generates confusion because die wear on other 1922-D coins can mimic the true no-D variety.
Three alterations show up again and again. A 1944-D can be reshaped so that the second 4 looks like a 1, mimicking a 1914-D. A plain 1909 or a 1909-S without initials can have VDB tooled onto the reverse, or an S added below the date, to fake the headline rarity. A Denver 1922 coin can also have its mint mark polished off to imitate the 1922 plain variety.
None of these alterations pass a modern grading room. Weight, die-marker analysis, and surface inspection under magnification catch the reshaping and the tooling every time.
The takeaway is simple. Any wheat cent presented as a key date should be certified by an independent third-party grader before any meaningful money changes hands. Never sell a raw key-date candidate to a walk-in buyer based on their say-so.
Roll searching as a hobby
A number of collectors search boxes and rolls of cents from a bank in the hope of finding a wheat penny that slipped back into circulation. The odds are low, and the finds are usually common dates from the 1940s and 1950s, but the pastime is inexpensive and educational.
A standard bank box holds 50 rolls of 50 cents each, or 2,500 pennies, at a cost of 25 dollars. Any wheat cent found is a pull, and any pre-1959 pull covers itself several times over at retail. Serious searchers keep the wheat cents and return the modern zinc cents to the bank.
Two caveats. First, most banks will let you return unsearched coin only if you deposit it, not exchange it. Second, the value of pulls is educational and personal, not a business plan. Treat roll searching as the coin-collecting equivalent of gardening.
What your wheat penny is probably not
Most wheat pennies pulled from a jar, a drawer, or an inherited collection are not the coins the owner hopes for. It is more useful to know the honest patterns than to be sold on possibility. The list below is what a random wheat cent most often turns out to be.
A common date from the 1940s or 1950s. Well over half of surviving wheat cents came from the last two decades of production, when mintages ran into the hundreds of millions per year. Circulated common dates trade in the few-cents range in bulk.
A worn or cleaned key date without certification. A raw 1909-S VDB or 1914-D in low grade with cleaning is worth far less than a lightly worn original example. Certification separates the two and is the only proof that changes a buyer's price.
An altered date piece. Someone reshaped a digit or added a mint mark to fake a key date. Side-by-side with a genuine example, the digit shape and mint mark placement give the alteration away.
A common 1943 steel cent, not a rare copper error. Nearly every 1943 cent is the wartime steel issue that sticks to a magnet. The copper error is genuinely rare and belongs in its own guide, not on this page.
A weak-D 1922 that is not the recognized no-D variety. A partial or faint D from other 1922 dies is not the no-D key. Only the strong-reverse die-pair no-D variety commands the top premium.
A well-preserved common date with mint red surface. Occasionally a common-date wheat cent has held its original red color and shows a sharp strike. Those pieces command a small premium over face, but they are not the coins that fund a retirement.
Wheat penny FAQ
What is a wheat penny?
A wheat penny is a Lincoln one-cent coin with two stalks of wheat on the reverse. The US Mint produced this design from 1909 through 1958, using bronze in most years and zinc-plated steel for 1943 only. The reverse design changed to the Lincoln Memorial in 1959.
How much is a common wheat penny worth?
A worn common-date wheat cent trades from a few cents to about a quarter depending on year, mint, and condition. Uncirculated examples with original red surfaces sell for a modest premium. Only the key dates and certified high grades bring meaningful money.
What are the most valuable wheat pennies?
The four key dates that a general searcher is most likely to encounter are the 1909-S VDB with a reported mintage of 484,000, the 1914-D at 1,193,000, the 1922 plain no-D die variety from Denver, and the 1931-S at 866,000. Each carries a strong premium in any grade, and much more in certified original condition.
How do I read the mint mark on a wheat penny?
The mint mark appears on the obverse just below the date. No mark means Philadelphia. A small D means Denver. A small S means San Francisco. The mint mark is the single most valuable piece of data on any wheat cent because it decides whether the coin is common or a key.
Are wheat pennies made of copper?
Bronze wheat pennies from 1909 through 1942 and 1944 through 1958 are 95 percent copper, with the balance in tin or zinc. The 1943 cent was struck in zinc-plated steel to save copper for World War II production. Shell-case brass was used briefly from 1944 through 1946.
Should I clean my wheat pennies?
No. Cleaning strips the natural surface a grader looks for and drops the grade an independent service will assign. A cleaned key-date wheat cent sells for a fraction of an original example. If a coin looks dirty, leave it alone and let the buyer see it as found.
Is a 1943 steel cent a wheat penny?
Yes. The 1943 zinc-plated steel cent uses the same Lincoln obverse and wheat reverse as every other cent from 1909 through 1958. It is part of the wheat cent series. It is not part of the four key-date list because tens of millions of the steel version survive.
What about the 1955 doubled die cent?
The 1955 doubled die obverse cent is a famous variety with strong doubling on LIBERTY and the date. It is not part of the low-mintage key-date list but is a well-known error worth a real premium in any grade. Doubling on other 1955 cents is usually machine-doubling and carries no premium.
Where should I sell wheat pennies?
For a jar of common circulated wheat cents, a local coin shop or a well-reviewed dealer at a coin show is fastest. For a suspected key date, get the coin certified by an independent third-party grading service before you contact a buyer. Never sell an uncertified key date at street prices.
Sources
- Wikipedia, Lincoln cent mintage figures. Compiled from US Mint production records. Reference for the 1909-S mintage of 484,000, the 1914-D mintage of 1,193,000, the 1922-D total of 7,160,000 with the counterfeit note, and the 1931-S mintage of 866,000. en.wikipedia.org/wiki/Lincoln_cent_mintage_figures. Checked August 2026.
- Wikipedia, Lincoln cent. Reference for the wheat cent era running 1909 through 1958, the Victor D. Brenner design credit, the 1909 VDB removal story, the 1922 die-grease no-D narrative, the 95 percent copper composition for 1909 through 1942 and 1944 through 1982, the 3.11 gram bronze weight, and the 19.05 mm diameter. en.wikipedia.org/wiki/Lincoln_cent. Checked August 2026.
- United States Mint. Coin Specifications and Composition. Reference for the 19.05 mm diameter, the 3.11 gram bronze cent weight, and the wartime 1943 steel composition. usmint.gov/learn/history-and-artistry. Checked August 2026.
- Wikipedia, 1943 steel cent. Reference for the wartime shift to zinc-plated steel, the 2.702 gram wartime weight, and the separate history of the 1943 copper error that is not part of the wheat cent key-date list. en.wikipedia.org/wiki/1943_steel_cent. Checked August 2026.
- Professional Coin Grading Service (PCGS). CoinFacts, entries for the 1909-S VDB, 1914-D, 1922 no D, and 1931-S Lincoln cents. Reference for third-party authentication standards, variety attribution on the 1922 no D, and the counterfeit note on the 1914-D. pcgs.com/coinfacts. Checked August 2026.
- Numismatic Guaranty Company (NGC). NGC Coin Explorer, entries for the Lincoln wheat cent series with mintage, grading, and counterfeit-detection notes on the 1909-S VDB and 1914-D. ngccoin.com/coin-explorer. Checked August 2026.
- United States Treasury. Interim Rule Prohibiting the Exportation, Melting, or Treatment of 5-Cent and One-Cent Coins, published in the Federal Register, December 2006. Basis for the general US prohibition on melting one-cent coins for the metal. govinfo.gov Federal Register notice. Checked August 2026.