The Lincoln Wheat Penny, first produced in 1909 and minted until 1958, is one of the most popular coins among collectors. It serves as a “gateway coin” for many new enthusiasts and is renowned not only for its historical significance but also for its enduring design and varied collector value.
Introduction
The Lincoln Wheat Penny was introduced in 1909 to commemorate President Abraham Lincoln and his legacy. Notably, it was the first circulating coin to feature a U.S. president—a decision made by President Theodore Roosevelt. While the 1909 pennies are especially prized by collectors, many other years and variants also command high interest and value based on factors such as mintage year, condition, and the mint facility where they were produced.
Design History
Origin and Inspiration
- Designer: The coin was designed by sculptor-engraver Victor David Brenner.
- Historical Significance: President Theodore Roosevelt selected Brenner’s design to honor Lincoln’s 100th birthday in 1909. Before this, it was considered undignified to feature a historical figure on a circulating coin.
- Influences: The design closely resembles a desk plaque Brenner created for the Gorham Manufacturing Company in 1907, as well as a profile portrait of Lincoln from 1864.
Obverse and Reverse Features
- Obverse (Front):
- Features a profile portrait of Abraham Lincoln facing right.
- Inscriptions include “IN GOD WE TRUST” above Lincoln’s head, “LIBERTY” on the left, and the date on the right.
- Reverse (Back):
- Displays two stalks of wheat framing the inscriptions “E PLURIBUS UNUM” and “UNITED STATES OF AMERICA.”
- The wheat design is the reason the coin is known as the Wheat Penny.
Changes and Controversies
- Brenner’s Initials: Initially, Brenner’s full name appeared on the obverse. After objections from Mint Director Frank A. Leach, his initials were moved to the reverse.
- Revisions: The initials were removed during production in August 1909 due to controversy but were reinstated in a smaller form on the obverse in 1918, where they remain today.
Key Features and Mint Marks
Lincoln Wheat Pennies were struck at three main U.S. Mint facilities, each identifiable by its mint mark:
- Philadelphia Mint:
- No mint mark is present as per traditional U.S. Mint procedure.
- Coins from Philadelphia are generally considered to be better made.
- Denver Mint:
- Marked with a “D” on the coin.
- San Francisco Mint:
- Identified by a small “S” mark.
- These coins are highly sought after due to their relatively lower mintage numbers.
Value and Key Dates
The value of a Lincoln Wheat Penny depends on its year, condition, and specific minting details. Certain varieties, like the 1909-S VDB and the rare 1943 Copper Wheat Penny, are particularly valuable. Below is a table summarizing some key dates and their estimated values for coins in good to fine condition:
| Year/Variant | Key Details | Estimated Value |
|---|---|---|
| 1909 | First year of issue; highly collectible | $3 – $6 |
| 1909-S VDB | Low mintage variant with Brenner’s initials | $400 – $800 |
| 1914-D | Notable Denver mint coin | $215 – $3,580 |
| 1922 “No D” | Rare variant with strong reverse design | $805 – $29,200 |
| 1931-S | High demand variant | $85 – $205 |
| 1943 Copper | Production error coin; extremely rare | $130,000 – $380,300 |
| 1958 Double Die Obverse (DDO) | Final year variant; record auction sale | Approximately $336,000 (auction record) |
Note: These estimates are based on coins in “Good” to “Fine” condition. Factors such as wear and preservation can significantly affect the coin’s market value.
Step-by-Step Guide to Evaluating Your Wheat Penny
For collectors looking to evaluate the condition and value of their Lincoln Wheat Penny, here is a simple guide:
- Examine the Coin’s Condition:
- Inspect the top of the wheat stalks on the reverse. If the parallel lines are clear and well-defined, the coin may be in “Fine” condition or better.
- Wear or worn-down details indicate a lower grade, such as “Good.”
- Identify the Mint Mark:
- Look for any mint marks (“D” for Denver, “S” for San Francisco).
- The absence of a mint mark generally indicates the coin was produced in Philadelphia.
- Verify the Date and Design Elements:
- Confirm the year of minting and check for any distinctive design features or errors.
- Compare with Price Guides:
- Use reliable online price guides or dealer resources to compare your coin’s condition with current market values.
- Consult a Professional:
- For an accurate assessment, consider having your coin evaluated by a professional numismatist.
Where to Purchase Lincoln Wheat Pennies
If you are interested in purchasing or selling Lincoln Wheat Pennies, consider the following resources:
- Coinsforsale.com
- eBay
- Additional References:
- USA Coin Book provides comprehensive pricing and historical data.
- Visit the United States Mint for official information on coin production and history.
Everything About Lincoln Wheat Penny
The Lincoln Wheat Penny remains a cherished piece of American history and a popular collectible. With its rich design heritage, variations based on mint marks, and a broad spectrum of values influenced by condition and rarity, this coin offers both historical significance and financial appeal. Whether you are a new collector or an experienced numismatist, understanding the details and evaluation process of the Wheat Penny can enhance your collecting experience and investment decisions.
Claire Bennett is a seasoned finance writer with over 8 years of experience, specializing in personal finance and investment strategies. She has contributed to top media outlets like Forbes and Business Insider.