The history of the Wheat Penny produced from 1909 to 1958 staying a symbol of American stability, we see the story of the American dream inside a small copper disc.
Although the government made hundreds of billions of these coins, several pieces exist having a price at auctions making even rich investors feel surprised.
The most valuable Wheat Pennies are selling for 100,000 or 500,000 or even 1,700,000 dollars, these results appearing at auction houses like Heritage Auctions are not dreams but real facts.
Auction Records:
1943-D Copper: $1,700,000 (2010)
1943-S Copper: $1,000,000 (2012)
1944-S Steel: $373,750 (2008)
1943 Philly Copper: $372,000 (2021)
1909-S VDB (MS-67 RD): $117,500 (2014)
1955 DDO (MS-65 RD): $124,875 (2018)
The Absolute Record Holder — 1943-D Bronze Lincoln Cent
The copper cent of 1943 made in Denver stays the most famous piece.
The History of the Mistake
Moving officially to steel cents with zinc coating in 1943 because of the need to save copper for the war, the USA changed the production of money. However, a bronze piece from 1942 staying inside the machines in Denver and falling into the press, a unique 1943-D copper coin appeared.
Auction Triumph
Organizing a private sale through the Legend Numismatics company in 2010, experts sold this piece for an incredible 1,700,000 dollars. Being the highest price ever paid for a Lincoln cent at that time, this sale surprised everyone.
Why is it so expensive? Uniqueness. Being the only confirmed copper piece from Denver for the year 1943, this coin represents a "missing link" for a collector wanting to finish a full series.
1943-S Bronze Cent — The One of San Francisco
Following the giant from Denver, we see its "brother" from San Francisco having only about five or six copper pieces known for the year 1943.
Record Sale
Selling a piece in MS-62 Brown condition for 1,000,000 dollars in 2012, an auction showed the power of rarity. Later, in 2018, another piece having a slightly better quality sold for 504,000 dollars.
The Meaning of Color: Even having a brown color (BN), the rarity of the metal stays more important than the beauty of the surface. Holding such a coin, a person immediately joins the group of the richest collectors in the world.
1943 Philadelphia Bronze Cent — "The Mistake of a Lifetime"
Appearing more often than the coins from the West, the Philadelphia copper cents of 1943 having about 15 or 20 known pieces still have a very high price.
Trading Results
Selling one of the best surviving pieces in MS-63 Red-Brown for 372,000 dollars in 2021, the auction market showed high demand.
Another piece belonging to Bob Simpson before the sale regularly reaches prices between 250,000 and 350,000 dollars.
Interesting Fact: Having a legend in the 1940s about Henry Ford promising a new car to anyone finding such a cent, people searched for them everywhere. Although this story was a myth, the real price of the coin today allows buying ten modern Ford Mustang cars.
The Opposite Rarity — 1944-S Steel Cent
The mistake being copper in 1943, the situation changed in 1944 when the mints started using copper again but some steel pieces stayed in the machines in San Francisco.
Auction Record
Selling a 1944-S Steel Cent in MS-66 condition for 373,750 dollars in 2008, the auction house found a happy buyer.
Why is it important? Keeping a steel coin in MS-66 condition being a miracle, this piece looks perfect. Steel getting rust very quickly and losing its shine, this coin kept its original light, creating a "perfect storm" at the auction because of the metal mistake.
The King of Normal Coins — 1909-S VDB in Perfect Condition
Not all expensive coins being mistakes, the 1909-S VDB stays the most famous "Key Date" having a huge price when the condition is perfect, you may know such details from the best coin value app.
Sale for a Million?
Although most of these coins cost from 1,000 to 3,000 dollars, pieces having "Gem Uncirculated" condition break records:
Selling a 1909-S VDB coin in MS-67 Red grade for 117,500 dollars in 2014, the market showed its respect.
Finding or certifying an MS-68 RD piece in the future, experts believe its price will easily go above 250,000 dollars.
1955 Doubled Die Obverse — The Icon of Collecting
Not being the rarest coin with 20,000 pieces known, it stays the most recognizable because of the very clear double image of the date and letters.
Auction Peaks
Selling a 1955 DDO piece in MS-65 Red condition for 124,875 dollars in 2018, the auction house reached a high result.
The Magic of the Grade: A normal 1955 DDO coin found in a pocket costing about 1,000 dollars, the jump to 124 thousand appears because of the "Red" color and no small marks. Being a fight for the status of the "best coin in the world," this auction was very exciting.
1914-D and 1922 "No D" — The Quiet Giants of Denver
1914-D
The production in Denver in 1914 being very small, coins in MS-66 Red condition reached a price of 152,750 dollars in 2017.
1922 "No D" (Die Pair 2)
Being the only mint making cents in 1922, Denver produced some coins where the letter "D" disappeared because the machines were old. Selling the best MS-64 RD piece for 67,500 dollars, the auction showed a high price, but experts think it should be even higher today.
The Psychology of Auctions — Why Do People Pay Millions?
Analyzing the info from the coin scanner app free, we must understand that the price is not only about the metal or rarity.
Ego Competition: Meeting at the auction, two millionaires wanting to have the "best known" (Top Pop) piece start a financial fight.
Investment in History: Rare coins growing in price faster than gold during difficult times, the 1943 Copper Cent stays a great asset. Not being possible to "print" more of them, these coins keep their value.
Finishing the Collection: Needing this specific coin to reach the first place in the PCGS Set Registry, a collector pays any price.
The Future of Wheat Penny Prices
The trend of the last ten years showing that prices for ultra-rare Wheat Pennies will grow, we see a strong market. Searching with new digital technologies and finding fewer "wild" coins, we see that confirmed rare pieces become even more special.
Seeing a 1943-D sale for 1.7 million dollars, we do not see just a purchase of a coin but an act of saving a historical object. Surviving the war and staying beautiful after 80 years, these coins are priceless for a real collector, the auction price being only a temporary number on paper.
