Most Valuable Wheat Pennies – What are the most valuable wheat pennies right now? Learn everything about it right now! Coins already existed around the 5th or 6th century BCE. If you want to know about coins, then collecting coins is the most suitable hobby for you.
Why there are so many people collecting coins? This ancient form of payment is very special to the hearts of so many people. We will take you to a guide about this popular hobby and why people love to collect coins.
A Brief History of Collecting Coins
Before you know what the most valuable wheat pennies are, you need to know why people begin to collect coins in the first place. There is a brief history of it and how the hobby evolved from centuries ago until today.
Collecting coins started around ancient times. At that time only scholars and wealthy individuals were able to collect coins. The coins hold special value or history behind them. History said that scholar Augustus Caesar also collected coins.
History of Collecting Coin
In the 1800s, collecting coins began its popularity. Some middle-class people were able to collect US or UK coins for their collection. There was also an introductory book about coins. Some societies began preserving their coins as their investment.
Coins from early colonial to America’s Founding Fathers era become popular. That’s why some people back then tried to collect those types of coins.
It is such a goal for some coin collectors to have American coins. However, this phenomenon ended in 1857.
Why People Are So Obsessed with The Mint Mark?
Most valuable wheat pennies depend on the mint mark. It is a mark where the coin was struck Coin collectors would know where the coin was made because it has the mint mark. In the 1900s, coin collectors began crazy about the mint mark.
They would focus on their coins to see the mint mark, so they would know where the coins have been made.
Take a look at your coin now. You will notice a tiny letter on the front side.
If the coin has the letter “D”, it means that the coin was struck in the Denver Mint Facility. If the coin has the letter “P”, it means that the coin was struck in the Philadelphia Mint Facility.
Furthermore, if your coin has the letter “S”, it means that the coin was struck in the San Francisco Mint Facility.
However, the S pennies are no longer available today. Most coins are minted in either Denver or Philadelphia.
What is The Coin Board?
Around the 1930s, there was a thing called a coin board. This board or folder was familiar to coin collectors. This board helped the coin collectors to organize their coins. They can bring their collection into wider circles.
The board will hold individual coins and they can show off to the public. The coin board makes the public get access to coin collecting. Even children can start their coin collecting and they can pass the collection to their heirs.
Reasons Why People Collect Coins
Some reasons lead many people to collect coins. The hobby has already existed since ancient times, and it has survived until today. So, what are the reasons people collect coins?
1. The Challenge
People need challenges in their life. So, collecting coins can provide a challenge for them. It is also a fun aspect of collecting coins.
It can be difficult to collect all coins from the old version until the new one. There were also rare coins ( most valuable foreign coins )that are difficult to obtain since their value is very high.
The challenge of collecting coins is often the major reason why people begin to collect coins. People feel excited when they search and find a coin from a certain year in certain conditions.
The next reason why people collect coins is because of their accessibility. Almost everyone can start their coin collecting.
You can start collecting them by searching through your pocket, purse, or change. It’s also a fun thing to do for both children and adults.
This is also a major reason why people collect coins. Most valuable wheat pennies can give some good money to your pocket.
Although the coin may seem not valuable for now, years later the value may be different from now. People can pay you some money if you have a great collection.
Many people don’t realize that collecting coins can be for an educational purpose. You can learn a lot from your coin collection. You will learn about the history, production, and metal content of each coin.
Some coin collectors decide to do this hobby because they can learn about history, politics, and culture. Besides, it is also both fun and a great way to learn those things.
When people know the history of each coin that they have, they will appreciate its beauty. Thinking about how far this coin come to you.
Especially if the coin is from an old time. As you research the history of the coins, you will enjoy their beauty of the coin. You will also learn the art from here.
Start Your Coin Collection
The best part about collecting coins is that you can start today. It is such a fun and challenging activity.
When you carefully stored some pennies, they are worth more than the value of one cent. Below are the most valuable wheat pennies. The value will make you amazed.
How to Determine Penny Value
There is a standard to determine the value of a penny. Quality, rarity, and wear are the standard that uses to determine the value of your penny.
People commonly used the Sheldon Scale which would grade coins on a scale from 1, as the basic, to 70, as the most valuable penny.
There is another level which is the elite class of penny that is included in the list of the most valuable wheat pennies.
The List of Most Valuable Wheat Pennies in The World
Just like the Canadian penny 1867 to 1967 value article we wrote earlier, below are the most valuable wheat pennies in the world. Do you have one of them?
1. Indian Head Penny from 1864 With the ‘L’ on the Ribbon
The Indian Head Penny since 1864 with the ‘L’ on the ribbon is sold for $161,000 at auction. This coin is made of tin, copper, and zinc. The weight is 3.11 grams.
There is a history behind the design of this coin. The government made The Indian Head design start in 1859.
They had difficulty obtaining metal during the Civil War. So, around 1864, the government decided to use a bronze alloy mix with copper-nickel.
The letter ‘L’ was added to Lady Liberty’s war bonnet which is located in the tail of the ribbon. The coin with this design only produced 5 million coins. However, only a few that still in uncirculated condition.
2. 1877 Indian Head Penny
The 1877 Indian Head Penny was sold at $149,500. This coin is made of copper, zinc, and tin, the weight is 3.11 grams. This coin is the rarest Indian Head penny since the government only made 852,500 coins due to an economic slump around 1973.
3. 1914-D Lincoln Penny
A coin minted in the Denver Mint Facility is very rare right now. This coin is sold in an uncirculated condition. If you have it in less-than-perfect condition, you still can get around $100 or more.
4. 1926-S Lincoln Penny
The 1926 S Lincoln penny is one of the most high-quality pennies that the government has made. So, it’s normal to be sold at $149,500. This coin is sold in excellent condition.
Even if you sold this coin in worse condition, you still make the bank. Rumor said that only nine 1926 S Lincoln pennies were made in lesser quality.
5. S Lincoln Penny with Doubled Die Obverse 1969
The value of Lincoln pennies that were struck between 1959 and 1982 is worth more than other pennies. It is because the material is almost one hundred percent copper. This also results in a doubled die image.
6. 1914-S Lincoln Penny
There are more than 4 million coins that were minted in San Francisco. Hence, it has the letter “S” on it.
This coin is properly stored and in the uncirculated property. The color remains in its original color which is bright copper-red color, that’s why this coin can be sold for that much.
7. 1922 D Lincoln, Strong Reverse, No D, Die Pair 2
The Lincoln penny is one of the favorite coins for collectors. This coin has sold for $63,000 at auction. The 1922 D Lincoln, Strong Reverse, No D, Die Pair 2 is made of tin, copper, and zinc. This coin is 3.11 grams in weight.
The coin that was struck in the Denver Mint Facility with one or more damaged dies resulted in a coin with no mint mark. Meanwhile, coins that were struck with no mint mark are from the Philadelphia Mint Facility.
This coin has a sharper surface on the backside than the front side. The die was a fresh one that was used for the backside.
8. 1922 Lincoln Strong Reverse, Weak Observe, No D Wheat Penny
Don’t be surprised that this coin is sold at $48,000 at auction. The 1922 Lincoln Strong Reverse, Weak Observe, No D Wheat Penny is made of zinc, copper, and tin. The coin is 3.11 grams in weight.
This coin can value so much because the coin doesn’t have the mint mark on the front side. The back side is not as sharp as the front side. You can get more than $40,000 if you have this coin in excellent condition.
9. 1793 Flowing Hair Liberty Cap Large Cent Penny
1793 Flowing Hair Liberty Cap Large Cent Penny is also one of the most valuable wheat pennies which sold for $19,950 on E-bay. This coin is made of copper, and it is 13.48 grams in weight.
This is also a rare coin because the 1973 Flowing Hair Liberty Cap Large Cent Penny was produced in 1793. The Liberty Cap is also a rare design knowing that this design is the third version of the Flowing Hair coin.
This coin was only produced for 3 years before it was replaced by the Draped Bust type. If you have this rare coin with a smooth surface, you will get rich automatically.
10. 1873 Doubled ‘Closed 3’ Indian Head Penny
This coin has sold at auction for $12,650. The coin is 3.11 grams in weight. The coin is made of tin, copper, and zinc.
Why this coin is so expensive? Due to doubling, this coin is very valuable. You will notice the word “LIBERTY” which makes it more valuable. Moreover, the 1873 Doubled ‘Closed 3’ Indian Head Penny is one of the rare coins.
The amount of space in the number “3” on this coin also contributes a lot to the price. This coin is one of one million “closed 3” coins in the world. So, it is very rare to have an 1873 Doubled ‘Closed 3’ Indian Head Penny. This coin also has a red-brown color in uncirculated condition. Those are the 10 most valuable wheat pennies in the world.