The Lincoln Wheat Penny, a coin that has captured the hearts of collectors and history enthusiasts alike, holds a special place in American numismatics.
Minted from 1909 to 1958, this small copper coin tells a story of artistic innovation, economic changes, and the enduring legacy of one of America’s most beloved presidents.
Origins and Design
The Lincoln Wheat Penny was born out of President Theodore Roosevelt’s desire to beautify American coinage.
In 1908, he commissioned sculptor Victor David Brenner to design a coin commemorating the 100th anniversary of Abraham Lincoln’s birth.
Brenner’s design featured Lincoln’s profile on the obverse, a radical departure from the tradition of depicting allegorical figures on American coins.
The reverse of the coin showcased two wheat stalks framing the words “ONE CENT” and “UNITED STATES OF AMERICA.”
This simple yet elegant design gave the coin its popular nickname: the Wheat Penny. The wheat symbolized America’s agricultural abundance and prosperity, resonating with the nation’s identity as a breadbasket to the world.
Minting History and Variations
Over its nearly five-decade production run, the Lincoln Wheat Penny saw numerous variations and interesting quirks.
The Philadelphia, Denver, and San Francisco mints produced these coins, with mint marks “D” and “S” appearing on coins from the latter two facilities, respectively.
One of the most famous variations is the 1909-S VDB penny. These coins, minted in San Francisco, bore Brenner’s initials “VDB” on the reverse.
However, public outcry over the prominence of the designer’s signature led to the removal of the initials after just a few days of production, making the 1909-S VDB one of the most sought-after coins in the series.
Another notable variation is the 1922 “Plain” penny. Due to a worn die at the Denver mint, some 1922-D pennies were struck without the mint mark, creating a rare and valuable error coin.
Composition Changes and Wartime Modifications
The Lincoln Wheat Penny underwent significant composition changes during its lifespan, reflecting the economic realities of the times.
Initially composed of 95% copper and 5% tin and zinc, the coin’s makeup was altered during World War II due to copper shortages.
In 1943, the U.S. Mint produced steel cents coated with zinc. These “steelies” are easily identifiable by their silver color and magnetic properties.
However, the steel composition proved problematic, as the coins rusted easily and were often confused with dimes. In 1944, the Mint returned to a copper alloy, using recycled shell casings to meet production needs.
Key Dates and Rarities
Certain dates and mint marks in the Lincoln Wheat Penny series are particularly prized by collectors due to their rarity or historical significance. Some of the most notable include:
1909-S VDB: As mentioned earlier, this coin’s limited production run makes it highly valuable.
1914-D: Low mintage numbers make this Denver-minted coin a key date in the series.
1922 “Plain”: This error coin, lacking a mint mark, is a favorite among collectors.
1931-S: Another low-mintage year, with only 866,000 coins produced.
1955 Double Die Obverse: A striking error resulted in a noticeable doubling of the date and inscriptions.
These rarities can command significant premiums, with well-preserved specimens fetching thousands of dollars at auction.
The End of an Era and Transition to Memorial Reverse
As the 150th anniversary of Lincoln’s birth approached, the U.S. Mint decided to update the reverse design of the penny.
In 1958, the last Lincoln Wheat Pennies were struck, ending a 50-year run. The following year, the new Lincoln Memorial reverse design by Frank Gasparro was introduced, marking the beginning of a new era for the Lincoln cent.
Collecting and Grading
The Lincoln Wheat Penny series remains one of the most popular among coin collectors, both novice and experienced.
Its long production run, variety of mint marks, and occasional rarities make it an accessible yet challenging series to complete.
Grading Lincoln Wheat Pennies follows standard numismatic practices, with coins rated on a scale from Poor (P-1) to Perfect Mint State (MS-70). Key factors in grading include:
Wear on Lincoln’s hair and cheek
Preservation of wheat stalk details
Overall luster and color
Presence or absence of contact marks
Professional grading services like PCGS and NGC offer third-party authentication and grading, which can significantly impact a coin’s value and collectibility.
Historical Context and Cultural Impact
The Lincoln Wheat Penny’s lifespan coincided with some of the most tumultuous and transformative periods in American history.
From the tail end of the Progressive Era through two World Wars and into the beginning of the Cold War, these small copper coins passed through countless hands, bearing silent witness to the nation’s triumphs and struggles.
During the Great Depression, a Lincoln Wheat Penny could buy a newspaper or a piece of candy. In wartime, children collected them for scrap metal drives. The coin’s ubiquity made it a tangible connection to history for generations of Americans.
The Lincoln Wheat Penny also played a role in nurturing the hobby of coin collecting in the United States.
Many collectors began their numismatic journeys by searching through pocket change for wheat pennies, learning about mint marks, dates, and the thrill of finding something rare or valuable.
Legacy and Continued Interest
Though no longer in circulation, Lincoln Wheat Pennies continue to captivate collectors and history buffs.
Their enduring popularity is evidenced by the thriving market for these coins and the numerous books, articles, and online resources dedicated to their study.
The series has also inspired subsequent coin designs. The four different reverse designs used on the 2009 Lincoln Cent, celebrating the bicentennial of Lincoln’s birth, paid homage to the wheat penny era with a modernized version of the wheat stalk design.
Preservation and Care
For collectors and enthusiasts, proper preservation of Lincoln Wheat Pennies is crucial. Coins should be stored in appropriate holders or albums that do not contain PVC, which can damage the coin’s surface over time. Handling should be minimized and done by the edges to avoid leaving fingerprints or causing wear.
Cleaning coins is generally discouraged in numismatics, as improper cleaning can significantly reduce a coin’s value. Natural patina is often desirable, particularly on copper coins like the wheat penny.
Investment Potential
While collecting should primarily be driven by passion rather than profit, Lincoln Wheat Pennies have shown potential as investments.
Key dates and high-grade specimens have appreciated significantly over the years. However, as with any investment, thorough research and caution are advised.
The market for these coins can be influenced by various factors, including overall economic conditions, trends in the collectibles market, and discoveries of previously unknown hoards or rarities.
Educational Value
Beyond their collectible and potential investment value, Lincoln Wheat Pennies offer significant educational opportunities. They can be used to teach about:
American history and the life of Abraham Lincoln
The evolution of U.S. coinage and mint operations
Economic concepts like inflation (comparing the penny’s purchasing power over time)
Metallurgy and the properties of different metals used in coinage
Many schools and educational programs have incorporated coin collecting, often focusing on wheat pennies, as a way to engage students in history and economics.
Lincoln Wheat Penny
The Lincoln Wheat Penny, with its simple yet iconic design, stands as a testament to a bygone era in American coinage.
It represents more than just a means of commerce; it’s a tangible piece of history that connects us to the past. From the hands of farmers during the Great Depression to the pockets of soldiers in World War II, these small copper discs have been silent witnesses to the American story.
For collectors, the wheat penny series offers a lifetime of discovery, with its myriad varieties, error coins, and key dates. For historians, it provides insight into the economic and cultural shifts of the first half of the 20th century.
And for the average American, finding a wheat penny in change or in an old jar can still bring a moment of excitement and connection to our shared heritage.
As we move further into the digital age, where physical currency is becoming less common, the Lincoln Wheat Penny serves as a reminder of the artistry, history, and community that can be found in something as simple as a one-cent coin.
It continues to inspire new generations of collectors and history enthusiasts, ensuring that the legacy of this humble yet significant piece of Americana will endure for years to come.