The Lincoln Wheat Penny Valued at 8000 Million: The world of rare coins and valuable coinage has always attracted history buffs and collectors. One such name is Lincoln Wheat Penny, which is frequently in the news. Recently it was claimed that a rare Lincoln Wheat Penny could be valued at as much as $85,000 million (roughly $85 billion). Naturally, this raises questions: Does such a coin actually exist? And if it does, is it currently circulating? Let’s investigate the veracity of this claim, as well as the facts of its founding value.
What is Lincoln Wheat Penny?
The Lincoln Wheat Penny, also referred to as the Wheat Cent, was an American coin produced from the year 1909 to 1958. The front or obverse side of the coin bore the image of a true American person, i.e., President Abraham Lincoln. The reverse side had a picture of two wheat ears, purported to symbolize prosperity.
Some Lincoln Wheat Pennies are precious and rare, with their values attached to historical meaning, minting errors, and limited periods of production. As to the claim that just one Wheat Penny could be worth $85,000 million, however, it requires further scrutiny.
What Drives the Price of a Lincoln Wheat Penny?
The price of any coin depends on several factors. In the case of the Lincoln Wheat Penny, there are mainly four factors that influence it:
1. Rare Minting Errors
Sometimes, some errors remain while minting coins, which makes them rare and collectible. Some of the famous minting errors of the Lincoln Wheat Penny are:
- 1955 Double Die Penny – In this, the numbers and letters appear in double image.
- 1922 No D Penny – The Denver Mint forgot to put the ‘D’ mint mark.
- 1943 Bronze Penny – It was accidentally minted in bronze instead of steel during World War II.
2. Limited Mintage
Just some years in minting have produced a very small number of coins, making them too popular. The example is a 1909-S VDB Wheat Penny, which was struck in very limited numbers and is one of the most sought-after coins.
3. Condition and Grading of the Coin
The better the coin, the more likely an increased price. Coins of MS (Mint State) 65 or better graded by such organizations as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company) demand premium prices.
4. Historical Importance
Old coins by their nature, especially Lincoln wheat pennies dating from the early1900s, tend toward great historical significance and popularity in the collections.
Is any Lincoln wheat penny really worth $85,000 million?
There is no truth to this claim. The most expensive coin ever sold was the 1933 Saint-Gaudens Double Eagle, which sold for $18.9 million. While the 1943 bronze Lincoln wheat penny has recorded a maximum price of $1.7 million.
The $85,000 million (ie $85 billion) price is a completely false claim, as no such coin has ever been sold in history.
What are the most valuable Lincoln wheat pennies?
Below are the estimated prices of some rare and valuable Lincoln Wheat Pennies:
| Coin | Estimated Value |
|---|---|
| 1909-S VDB | $1,000 – $100,000+ |
| 1914-D | $2,000 – $100,000+ |
| 1922 No D Error | $5,000 – $100,000+ |
| 1943 Bronze Penny | $100,000 – $1.7 million |
| 1955 Double Die | $1,500 – $125,000+ |
Are Lincoln Wheat Pennies Still in Circulation?
The Lincoln Wheat Penny was discontinued after 1958, but some coins can still be seen in circulation. However, it is very rare to find any highly valuable Wheat Penny in general transactions. Most are kept safe by collectors.
If you find a Lincoln Wheat Penny, be sure to check its mint date, mint mark, and condition—it may be worth more than you expect!
Conclusion
Lincoln Wheat Pennies are very popular with coin collectors, but the notion that a Wheat Penny will get you $85,000 million is a ridiculous myth. The highest price ever paid for a Wheat Penny at auction was for a specific 1943 bronze penny, which sold for $1.7 million.
If you enjoy coins, then the best thing to do is to have all the coins looked at by a professional numismatist to find out if any of them are actually worth something valuable. Who knows? There might be a rare treasure right inside that pocket of yours!
FAQs On The Lincoln Wheat Penny Valued at 8000 Million
Q. Why does the value of the Lincoln Wheat Penny increase?
A. The coin’s value increases due to its rarity, minting errors, limited production, good condition, and historical significance.
Q. What is the most expensive Lincoln Wheat Penny?
A. The most expensive Lincoln Wheat Penny ever sold is the 1943 Bronze Penny, which has reached a maximum price of $1.7 million.
Q. Does an $85,000 million Wheat Penny really exist?
A. No, this is a false claim. No Wheat Penny has ever been worth that much.