The 1909-S VDB is the key date of the wheat penny series. Only 484,000 were struck, and even a worn one is worth several hundred dollars.
Most wheat pennies are common copper cents worth a few cents to a few dimes each. The dates in this table are the exceptions — the low-mintage San Francisco and Denver issues, plus two famous varieties, that turn a 3-cent coin into a $100 coin or more. Values are hedged ranges for typical circulated examples; certified and high-grade coins sell for more.
Wheat Penny Key Dates at a Glance
| Date | Mintage | Why it matters | Typical circulated value |
|---|---|---|---|
| 1909-S VDB | 484,000 | The key date — first year, San Francisco, designer’s initials on the reverse | About $600–$900 in worn grades |
| 1909-S | 1,825,000 | Same first-year San Francisco issue without the VDB initials | About $100–$175 |
| 1914-D | 1,193,000 | The Denver key — second most wanted regular date in the series | About $150–$250 in worn grades |
| 1931-S | 866,000 | Lowest mintage of the 1930s; Depression-era production cut | About $65–$100 |
| 1922 No D (variety) | Part of 7,160,000 struck at Denver | A worn Denver die left some 1922 cents with no visible mintmark | About $500+ for a genuine strong No D |
| 1955 Doubled Die (variety) | Estimated 20,000–24,000 released | Dramatic doubled date and lettering, visible without a loupe | About $900–$1,400 circulated |
Why the 1909-S VDB Sits on Top
The Lincoln cent launched in 1909 with designer Victor David Brenner’s initials — VDB — at the bottom of the reverse. Complaints that the initials were too prominent got them removed within the first year, and San Francisco had struck only 484,000 cents with them before the change. That short run, in the first year of America’s most collected series, is the whole story: every serious Lincoln cent set needs one, and there were never enough to go around. Philadelphia’s 1909 VDB is common (nearly 28 million struck); the S mintmark is what makes it the key. The same first-year logic drives the Indian Head penny it replaced, whose own 1909-S is that series’ key.
The Two Errors Every Searcher Hears About
Two wheat-era mistakes are famous enough to check for, and rare enough to be skeptical of. The 1943 copper cent — a few bronze planchets left over from 1942 struck with 1943 steel-cent dies — is one of the most valuable U.S. coins known, with genuine examples selling for six and seven figures; almost every “1943 copper penny” offered is a copper-plated steel cent or an altered 1948, and a magnet settles most of them (a plated steel cent sticks, a genuine bronze one does not). Its mirror image, the 1944 steel cent, is covered in our 1944 wheat penny value guide. The 1955 doubled die in the table above is the realistic find of the three: thousands entered circulation in the Boston and New York areas, and the doubling is bold enough to spot across a table.
What Common Wheat Pennies Are Worth
Everything not in the table is a common date, and common wheat pennies trade on copper and nostalgia, not rarity: roughly 10 to 25 cents each in small lots for typical circulated coins, and a few cents each in bulk rolls. Each coin holds 3.11 grams of 95% copper (the 1943 steel cent and the 1944–46 shell-case cents excepted), so bulk prices track copper loosely without ever being pure melt plays. The large cents and Flying Eagle cents that came before the wheat design are where the older copper money sits — the wheat series is the last copper cent most people can still pull from a roll, a jar, or an estate lot, which is exactly why its few key dates keep their premiums.
Shop Copper
Modern copper is the wheat penny’s bulk descendant: the 1 oz Copper Round – Buffalo Design carries a classic American design in a full ounce of copper, and the Kilo Copper Bar – Frontier Mint is the stacker’s format. Sort any wheat rolls you already own against the table above before they go anywhere — the 1909-S VDB and 1914-D are still found in inherited lots.
Frequently Asked Questions
What is the rarest wheat penny?
The 1909-S VDB is the rarest regular-issue wheat penny, with 484,000 struck. The 1943 copper error is rarer still — only a few dozen are known — but it is a mint error, not a regular issue, and nearly all examples offered for sale are fakes or altered coins.
Which wheat pennies are worth money?
The 1909-S VDB, 1909-S, 1914-D and 1931-S are the key and semi-key dates. The 1922 No D and 1955 doubled die varieties also carry strong premiums. Every other date is a common coin worth roughly 10 to 25 cents in typical circulated condition.
How much is a 1914-D wheat penny worth?
A genuine 1914-D is worth roughly $150–$250 in worn circulated grades, and much more uncirculated. It is heavily counterfeited — most fakes are altered 1944-D cents with the first 4 re-cut into a 1 — so certification matters on this date.
Are wheat pennies worth keeping?
Yes. Even common dates are worth several times face value for their copper and collector demand, and every roll is worth a date check against the key-date list before it is spent or sold as bulk — the series’ keys are still found in circulation-era accumulations.
What does VDB mean on a wheat penny?
VDB are the initials of Victor David Brenner, the Lincoln cent’s designer. They appear at the base of the reverse on early 1909 cents, were removed later that year, and returned in small form on Lincoln’s shoulder in 1918. A 1909 penny with VDB and an S mintmark is the key date of the series.
Educational content only — not financial advice.