Introduction
Once more, the very much sought-after Lincoln Wheat Penny is taking center stage in the headlines because of the new report of a very valuable rare variety supposedly worth $800,000. Why is this coin so unique? Could you have one in your pocket change? Let’s dive into its fascinating history, rarity, and how to spot this valuable penny.
A Brief History of the Lincoln Wheat Penny
Lincoln Wheat Penny was originally minted to honor President Abraham Lincoln in 1909. It was designed by Victor David Brenner and was the first American coin that accommodated an actual person rather than classic female liberty. The reverse of the coin featured two wheat stitches, which represent prosperity, and therefore it is generally called “wheat stalks.”.
The American coin manufactured these coins until 1958, and then he was substituted by the Lincoln Memorial Penny in 1959. Although they are old, some Lincoln Wheat Penny is still in style, and there are ultra-acreage types for thousands of them or even hundreds of hundreds or even hundreds of hundreds of hundreds of or even hundreds of hundreds of hundreds or even hundreds of hundreds or even hundreds of hundreds or even hundreds of hundreds of hundred thousand dollars.
Why is a Lincoln Wheat Penny Worth $800K?
There are several reasons why certain Lincoln Wheat Pennies are so valuable, and some particular versions sell for $800,000 or more. Some of the reasons why these krone are so valuable are:
1. Rare Minting Errors
The most valuable Lincoln was due to some of the pennies of a particular wheat, which rendered them special and highly sought after by collectors. These errors are:
- 1943 Copper Penny: During 1943, owing to copper shortage in times of war, American coin had manufactured penny made of steel-plated zinc. Some copper penny inadvertently was slaughtered through the then-available bronze planchets. It’s merely a few dozen handfuls and can vary anywhere from hundreds of thousands to million dollars.
- 1955 Double Die Penny: Perhaps one of the most popular error coins, this crown features a clear double impression of letters and date. Such scarce errors can be sold in top position for over $100,000.
2. Low Mintage Years
A few Lincoln Penny were minted in extremely small quantities, making them highly sought after. For instance:
- 1909-S VDB Penny: There were only 484,000 penny minting of these done, making them one of the rarest and most expensive Wheat Pennies. A pristine 1909-S VDB Penny can command over $100,000.
- 1922 No D Penny: Pennies struck in Denver during that year were mistakenly done without the “D” mintmark, making them extremely scarce. These can cost tens of thousands of dollars based on condition.
3. High-Grade Condition
- The condition of a coin has a significant impact on its worth. A coin state (MS-67 or better) graded coin can be quicker than a worn-out version of the same coin. Coins are extremely scarce in ancient, uncontrolled condition and can fetch top dollar at auction.
How to Check If You Have a Rare Wheat Penny
If you drop into an old Wheat Penny in your change, do these to verify its potential worth:
- Inspect the Year: The highest monies are dated 1909, 1914, 1922, 1943 and 1944.
- Inspect for Mint Marks: The letter (or none) below the date signifies the place of the date (D for Denver, s San Francisco S, and no marking for Philadelphia).
- Check for Errors: Look for doubling, mistakes or abnormal characteristics.
- Determine the Condition: Minimal wear, maximum value.
Where to Sell a Valuable Wheat Penny
If you think you possess a rare Lincoln Wheat Penny, try:
- Coin Dealers: Expert figures can assess and purchase valuable coins.
- Online Auction: places like eBay and legacy appeal to collectors willing to offer top dollars.
- Coin Show and Conventions: Excellent spot for specialists who make sense and seldom sell searches.
Final Thought
The notion that a $800,000 Lincoln Wheat Penny may remain hidden in circulation is thrilling. Although it’s rare, such money occasionally finds its way into Old Coins collections, attics or even other changes in jars. If you possess an old money collection, it could be the perfect moment to verify if you’re sitting on a small fortune. You never know. Your next lucky search might prove to be life-altering.
FAQ’s
How to determine Lincoln Wheat Penny?
The look is another detail for observation. Wheat Pennies features an image of Abraham Lincoln, and on the other direction, there are two wheat ears.
What is Lincoln Wheat Penny error?
Date and motto in this wheat penny double-die error are double-struck in the coins.