Lincoln wheat penny value: key dates, mintages and what to check

Most Lincoln wheat pennies (1909–1958) are common, but a short list of low-mintage dates, mint marks and varieties, led by the 1909-S VDB, 1914-D, 1922 No D and 1931-S, can be worth far more than face value. The date, the mint mark under it and the coin's condition decide which group yours belongs to.

By the Coin Scanner team · Updated 2026-10-13

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What a wheat penny is

"Wheat penny" is the collector nickname for the Lincoln cent struck with two ears of wheat on the back. The Mint's own design table records the type as first coined in June 1909 and first issued in August 1909, and its fiscal 1959 report says the Lincoln–wheat design was struck continuously until December 1958. In January 1959 the Lincoln Memorial replaced the wheat ears for the 150th anniversary of Lincoln's birth, while the portrait stayed the same. Both sides of the original coin were the work of sculptor Victor David Brenner, whose initials V.D.B. caused the first big rarity of the series (more on that below).

The metal changed three times

Knowing the composition helps you spot fakes and explains a few famous rarities.

• Bronze (1909–1942 and 1947–1958): the Mint's coinage table lists the bronze cent as 95% copper with 5% tin and zinc, at a standard weight of 48 grains (3.11 g).
• Zinc-coated steel (1943): to save copper during the war, the Mint struck steel cents from February to December 31, 1943. The Mint counted 1,093,838,670 of them across all three mints. Steel sticks to a magnet; bronze does not. See our 1943 steel penny guide.
• Copper-zinc "shell-case" alloy (1944–1946): from January 1, 1944 the cent was 95% copper and 5% zinc. The Mint explained that the change was possible because fired brass cartridge cases were available and were mixed with added copper. Authority for this alloy ran out on December 31, 1946, after which bronze returned.

Key dates and their mintages

Mintage is the number of coins a mint struck for a given year. A small mintage does not automatically mean a high value, but nearly every expensive wheat cent has one. Figures marked "Mint report" come from the calendar-year coinage tables in the Annual Reports of the Director of the Mint. The Mint did not report VDB and non-VDB 1909 cents separately, so those splits are the figures listed by Lincoln-cent reference sites.

For comparison, the Mint struck over 75 million cents at Philadelphia in 1914 alone, which shows how small the 1914-D's 1,193,000 really was.

How to check your wheat penny

1. Read the date. If it is 1909–1958 and the back shows two wheat ears, you have a wheat cent. Note whether the date falls on the key-date list above.
2. Find the mint mark. Look just below the date on the front. S is San Francisco, D is Denver, and no letter is Philadelphia. A 1922 cent with no mint mark is a special case, because Philadelphia made no cents that year.
3. Check the initials on 1909 coins. Tiny V.D.B. letters at the bottom center of the reverse mark the early 1909 issues.
4. Try a magnet on any 1943 cent. A 1943 cent that does not stick deserves expert attention; one that sticks is the normal steel issue.
5. Look for alterations. According to NGC, the 1909-S VDB is the most often faked U.S. coin it sees, and the 1914-D and 1922 No D are also on its top-ten list. Common tricks include adding a mint mark, removing one, or reshaping a digit. Scratches or tool marks around the date and mint mark are a warning sign.

What drives a wheat penny's value

• Date and mint mark: the single biggest factor. The same date can be common from one mint and scarce from another.
• Grade (condition): graders score coins from heavily worn to uncirculated. A sharp, unworn key date can be worth many times a worn one.
• Color: uncirculated bronze cents are described as red (RD), red-brown (RB) or brown (BN). Original red color brings a premium.
• Variety or error: doubled dies, missing mint marks and wrong-metal strikes form their own market.
• Authenticity and certification: because key dates are so often altered, buyers pay more for coins certified by an independent grading service.

To get a quick idea of where your coin stands, scan both sides with Coin Scanner: it reads the date and mint mark from your photos and gives an estimated value range. Treat that as a starting point. Prices change, and only a professional grading and authentication service can confirm a key date and assign a grade.

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