$2.2 Billion Lincoln Wheat Penny – Rare Coin Details and How to Spot One!

Published On: March 8, 2025

The world of rare coins is full of surprises, and for collectors, finding a valuable penny can be life-changing. The Lincoln Wheat Penny, minted from 1909 to 1958, is one of the most iconic and widely collected coins in U.S. history. While most are worth only a few cents, some rare versions have sold for thousands—or even hundreds of thousands—of dollars.

The rumor of a $2.2 billion Lincoln Wheat Penny is an exaggeration, but it does highlight the incredible value some pennies can hold. In this article, we’ll look into what makes certain Lincoln Wheat Pennies valuable, how to identify them, and what factors contribute to their rarity.

History

The Lincoln Wheat Penny was first introduced in 1909 to commemorate the 100th anniversary of President Abraham Lincoln’s birth. Designed by Victor David Brenner, the coin features an image of Lincoln on the front, while the back displays two stalks of wheat. The coin remained in circulation until 1958 when it was replaced by the Lincoln Memorial Cent.

One of the most controversial aspects of the 1909 penny was the inclusion of Brenner’s initials, “VDB,” on the reverse. Due to public criticism, the initials were removed shortly after the coin’s release, making the 1909-S VDB penny one of the most sought-after coins in numismatic history.

What Makes a Penny Valuable?

Not all Lincoln Wheat Pennies are valuable, but certain characteristics can significantly increase their worth. Here are some of the main factors:

Low Mintage – Coins produced in smaller quantities tend to be rarer and more valuable.
Minting Errors – Mistakes during the minting process, such as double dies or incorrect metal composition, can make a coin highly desirable.
Historical Significance – Certain coins represent key moments in history, adding to their appeal.
Condition – Coins in mint or uncirculated condition fetch higher prices than worn ones.

Rare Lincoln Wheat Pennies

Some Lincoln Wheat Pennies have reached staggering prices at auctions due to their rarity and demand. Here are a few of the most valuable ones:

1909-S VDB Lincoln Penny

Why it’s valuable: The first Lincoln Wheat Penny with Brenner’s initials, removed shortly after minting.
Mintage: Only 484,000 produced.
Auction price: A high-quality version sold for $5,040 in 2018.

1943-S Bronze Lincoln Penny

Why it’s valuable: Most 1943 pennies were made of steel due to wartime copper shortages, but a few were accidentally struck in bronze.
Rarity: Only six known to exist.
Auction price: One sold for $504,000 in 2019.

1992 Close AM Lincoln Penny

Why it’s valuable: A rare design error where the letters “A” and “M” in “AMERICA” are too close together.
Auction price: One sold for $26,000 in 2014.

How to Identify

If you’re wondering whether your Lincoln Wheat Penny is valuable, follow these steps:

Check the Date and Mint Mark – Look for key dates such as 1909-S, 1943-S, or 1992.
Look for Errors – Check for double dies, missing mint marks, or unusual spacing in lettering.
Assess Condition – A well-preserved penny is worth more. Grading services like PCGS or NGC can provide official valuations.
Consult an Expert – A professional numismatist or coin dealer can confirm whether your penny is rare.

Caring for Your Coins

To preserve your rare pennies, follow these tips:

Store them in protective coin holders or slabs to prevent damage.
Avoid cleaning them, as this can lower their value.
Keep them in a safe place, such as a secure storage box or deposit box.

While the idea of a $2.2 billion Lincoln Wheat Penny is just a myth, the excitement around rare pennies is very real. If you come across an old wheat penny, take a closer look—you might just have a hidden treasure in your hands. Whether you’re a seasoned collector or just getting started, knowing coin values and seeking expert advice can help you make the most of your collection.