The US can move to throw away pennies, but that doesn’t mean you shouldn’t start throwing out your 1-cent pieces – especially if they contain certain grains in them.
Penny has undergone several design changes throughout its long history, dating back to 1793. They were first produced in chains surrounding the text “one cent,” in contrast to the image of Lady Liberty, and the chains were replaced by wreaths.
Then, in the early 1900s, President Abraham Lincoln replaced Liberty with a penny, bringing a new reverse design with wheat. It is wheat that helps you get some greens from collectors.
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Produced from 1909 to 1958, the penny was characterized by two bundles of wheat. (They will be exchanged for the image of the Lincoln Memorial in honor of Lincoln’s 150th birthday.)
During that time, several varieties were also created. Early on, the initials of sculptor sculptor Victor David Brenner appeared in reverse for Penny. Although the controversy removed his initials, they returned in 1918 just below Lincoln’s shoulders. In the early 1940s, the United States used zinc-coated steel instead of copper to make penny because it was necessary for World War II.
Today, wheat pennies are considered the most commonly collected US coin, so dealers are worth at least a few cents. Certain factors can be worth more than thousands of times more.
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According to Sorrick, the rarest one is the 1909 penny, which could be “worth between $700 and $1,500 depending on the coin’s performance.” The unrated, uncirculated, wheat penny of 1909 is worth between $2,000 and $3,000.
In January, the 1909 series highly rated wheat penny was sold at auction for $99,000.
Some wheat pennies do much more.
Boston, MA – February 12: A selection of wheat backpenny at Stack’s Bowers Galleries. (Photo by PAT Greenhouse/The Boston Globe by Getty Images)
One, built in Denver in 1943, sold in 2021 for $840,000, according to the Heritage Auctions list. Why, you might ask, did Penny attract such a price? Mainly because it was made of bronze rather than zinc-coated steel used by the United States at the time in war efforts.
A similar “no problem” 1943 Penny won $264,000 at auction earlier this year, Heritage Auctions previously announced. Another wheat penny from 1944 – made entirely of steel, giving it a silver look instead of copper or bronze – sold at auction for $168,000 in January.
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Does that mean your wheat storage is trying to make you quite wealthy? It’s not accurate.
Online guides can provide insight into how valuable a wheat penny is, but it is generally recommended to talk to an expert before listing coins on eBay. This applies to the old coins and cash you hold, Dustin Johnson, vice president of Mumismatics at Heritage Auctions, previously told Nexstar.
“The strange items are always put aside, but they don’t make them rare or grossly valuable,” he warned.
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