Many people keep jars of old pennies and never check dates or mint marks. Among those common coins, a few Lincoln Wheat pennies are rare enough to fetch $70,000 or more in the right condition.
How to identify Lincoln Wheat Pennies Worth $70K
Start by looking closely at dates, mint marks, and obvious errors. Most Wheat pennies are low value, but a handful of types and mistakes are highly sought after by collectors and auction houses.
Use a good loupe (10x) and proper lighting to inspect the coin. Take clear photos of both sides and note any doubled dies, missing mint marks, or die cracks.
Key dates and varieties to check
- 1909-S VDB — A famous early Lincoln cent with designer initials VDB on the reverse. High-grade examples are extremely valuable.
- 1914-D — Low-mintage Denver issue; high-grade specimens are scarce and can command large prices.
- 1922 Plain (No D) — Many 1922-D pennies appear without a D due to a filled die; those in high mint state are rare.
- 1955 Doubled Die Obverse — A dramatic doubling on the date and inscriptions that is easy to spot with a magnifier and valuable in top grades.
These are some of the types most often associated with five-figure and six-figure prices when well-preserved. Other error coins and very high-grade common dates can also reach $70K or more.
Condition and grading for Lincoln Wheat Pennies Worth $70K
Condition matters more than anything else. Most Wheat pennies are common in circulated grades. To reach $70K, a coin typically needs to be in high AU (About Uncirculated) or Mint State (MS60+) condition.
Professional grading by services like PCGS or NGC provides a reliable grade and authentication. A certified grade often unlocks collector and auction interest and protects you from misattributed value.
Step-by-step: What to do if you find a potential high-value penny
- Inspect the coin carefully with a loupe or macro camera.
- Compare to reference photos from PCGS, NGC, and the Red Book.
- Look for mint marks (small letters under the date) and clear doubling or missing letters.
- Take high-resolution photos of obverse and reverse under good light.
- Consider submitting the coin for professional grading if it appears rare and well-preserved.
Safe storage and handling
Handle coins by their edges and keep them in acid-free holders or coin flips. Avoid cleaning a potentially valuable coin, as cleaning usually destroys market value.
Store coins in a cool, dry place away from direct sunlight and humidity. For very valuable coins, consider a safe or bank deposit box.
Selling or appraising Lincoln Wheat Pennies Worth $70K
If you believe you own a rare penny, get multiple opinions before selling. Start with reputable grading services for authentication.
Options for sale include specialist coin dealers, major auction houses, and online platforms that cater to certified coins. Auctions often bring the highest prices for rare, high-grade examples.
- Get a written appraisal or grading submission from PCGS/NGC.
- Contact a few reputable dealers for estimates.
- Choose an auction house if the coin is expected to exceed a dealer’s typical buying range.
Fees and commissions to expect
Professional grading has fees and turnaround times. Auction houses charge seller commissions and insurance. Factor these costs into your plan so you know the likely net proceeds.
Resources and references for further research
Trusted resources speed identification and valuation. Use coin guides and online price databases to get a sense of rarity and recent sale prices.
- PCGS CoinFacts and price guides
- NGC Coin Explorer and Census data
- R.S. Yeoman’s Guide Book of United States Coins (Red Book)
- Major auction results (Heritage, Stack’s Bowers, etc.)
Some Lincoln Wheat penny errors were caused by filled mint marks or misplaced dies. A coin that looks ordinary at a glance can be rare if the mint mark is missing or doubled from a die issue.
Case study: A jar-find that became a high-value coin
A retired teacher emptied a jar of pennies and noticed one with a bold doubled date and doubled letters. After photographing it and checking guides, she submitted it for grading.
The coin was authenticated as a 1955 Doubled Die Obverse in high grade. The professional grade opened auction interest, and the coin later sold for more than $70,000 to a private collector.
The key steps that led to the sale were careful handling, professional grading, and working with an auction house experienced in rare cents.
Quick checklist: Do this if you find a suspected rare Wheat penny
- Do not clean the coin.
- Handle by the edge and photograph both sides.
- Compare to trusted reference images.
- Submit to PCGS or NGC for authentication and grading if it looks rare.
- Seek multiple selling avenues and get written estimates.
Finding a valuable Lincoln Wheat penny is rare, but not impossible. With careful inspection, proper handling, and professional grading, what looks like pocket change could be a significant asset.
