The Lincoln penny, known as the “Wheat Penny” for the wheat spikes on its reverse, is one of the most iconic and collectible coins of United States. Minted between 1909 and 1958, this penny not only revolutionized numismatic design by featuring the portrait of an American president for the first time, but also encapsulates significant historical moments and economic changes.
History of the Lincoln Penny
Origin and Historical Context: In 1909, to commemorate the centennial of Abraham Lincoln's birth, the Treasury Department decided to replace the penny's previous design (which featured a depiction of a Native American head) with a profile of President Lincoln. This change marked the first time an American leader appeared on a legal tender coin. The design was commissioned by sculptor Victor David Brenner, known for his skill in detailed portraiture.
Minting Periods: 1909-1958The Lincoln cent with wheat-ear reverse series was minted from 1909 to 1958. During this period, the penny's design remained relatively constant, with some minor variations on the obverse. The coin's composition also remained primarily bronze (copper with small amounts of tin and zinc) until the end of this period.
Reasons for the Change of Composition in 1943During World War II, copper became an essential material for the war effort. As a result, in 1943, the Lincoln cent was minted in zinc-coated steel instead of its traditional bronze composition. However, some coins from that year were mistakenly minted in copper, becoming highly prized rarities among collectors.
Economic and Cultural Impact of CoinsThe Lincoln penny not only facilitated everyday transactions but also became a symbol of national memory and respect for Abraham Lincoln. Its design and changes over the years reflect the priorities and challenges of American society in different eras.
Technical Specifications and Dimensions
Diameter: 19 mm
Thickness: 1,4 mm
Weight in grams: 3.11 grams, although the 1943 steel variants weigh around 2.7 grams.
Characteristics of the song: The edge of the coin is smooth, without inscriptions or grooves.
Design and Representation of the Currency
Obverse: The obverse features a portrait of Abraham Lincoln facing right, designed by Victor David Brenner. Above his head is the inscription “IN GOD WE TRUST,” to the left is “LIBERTY,” to the right is the year of issue, and below the year of issue is the mintmark (in some cases).
Back: The reverse features two ears of wheat framing the inscriptions “ONE CENT” and “UNITED STATES OF AMERICA.” At the top is the motto “E PLURIBUS UNUM.”
Symbolism of Each Design Element: The wheat stalks symbolize America's agricultural prosperity and abundance, while the inclusion of Lincoln's portrait pays tribute to his legacy and leadership.
Composition of the Currency and Changes in the Purity of Copper
Composition Before 1943 (95% Copper, 5% Tin and Zinc)From its inception in 1909 until 1942, the Lincoln cent was minted from an alloy of 95% copper and 5% tin and zinc.
Composition in 1943 (Zinc Coated Steel)In 1943, due to a copper shortage during World War II, zinc-coated steel was used to mint pennies. This composition resulted in coins that corroded easily and were mistaken for higher denominations, leading to their discontinuation after a year.
Composition After 1944 (95% Copper, 5% Zinc): From 1944 onwards, the original composition of 95% copper was resumed, but this time with 5% zinc, eliminating tin from the alloy.
Reasons for Composition Change (Impact on Costs and Economy): The changes in composition were directly related to the country's economic and material needs, especially during times of war, when certain metals were a priority for the war industry.
Examples of Variations in Specific YearsIn addition to the 1943 change, recycled ammunition casings were used to mint pennies in 1944, reflecting the wartime effort to reuse materials.
Manufacturing Mints and Mint Marks
List of Mints Where They Were MintedLincoln cents were minted at three main facilities of the United States Mint:
- Philadelphia (no mint mark): Operating since 1793, it was the country's first mint and produced most of the coins without a mint mark.
- Denver (brand “D”): Inaugurated in 1906, it began minting cents in 1911, identified with the “D” mark.
- San Francisco (brand “S”): Established in 1854, it produced Lincoln cents from 1909 to 1955, identified with the “S” mark.
Below is a table with relevant coinage information, including the year, mint mark, and number of coins minted:
| Year/Mint | coinage | Notes |
|---|---|---|
| 1909 | 27 995 000 | With initials "VDB" |
| 1909 | 72 702 618 | Without initials "VDB" |
| 1909 | 1 194 | With initials "VDB"; matte proof |
| 1909 | 2 618 | Without initials "VDB"; proof |
| 1909 | With initials "VDB"; double-died obverse, mintage included with 1909 VDB | |
| 1909 | 484 000 | With initials "VDB" |
| 1909 | 1 825 000 | Without initials "VDB" |
| 1909 | Without initials "VDB"; raised mintmark (S over horizontal S) | |
| 1910 | 146 801 218 | |
| 1910 | 4 118 | Matte Proof |
| 1910 | 6 045 000 | |
| 1911 | 101 177 787 | |
| 1911 | 1 725 | Matte Proof |
| 1911 D | 12 672 000 | |
| 1911 | 4 026 000 | |
| 1912 | 68 153 060 | |
| 1912 | 2 172 | |
| 1912 D | 10 411 000 | |
| 1912 | 4 431 000 | |
| 1913 | 76 532 352 | |
| 1913 | 2 983 | Matte Proof |
| 1913 D | 15 804 000 | |
| 1913 | 6 101 000 | |
| 1914 | 75 238 432 | |
| 1914 | 1 365 | Matte Proof |
| 1914 D | 1 193 000 | Modified/inauthentic mint marks exist |
| 1914 | 4 137 000 | |
| 1915 | 29 092 120 | |
| 1915 | 1 150 | Matte Proof |
| 1915 D | 22 050 000 | |
| 1915 | 4 833 000 | |
| 1916 | 131 833 677 | |
| 1916 | 1 050 | Matte Proof |
| 1916 D | 35 956 000 | |
| 1916 | 22 510 000 | |
| 1917 | 196 429 785 | |
| 1917 | Double die obverse, mintage included with 1917 | |
| 1917 D | 55 120 000 | |
| 1917 | 32 620 000 | |
| 1918 | 288 104 634 | |
| 1918 D | 47 830 000 | |
| 1918 | 34 680 000 | |
| 1919 | 392 021 000 | |
| 1919 D | 57 154 000 | |
| 1919 | 139 760 000 | |
| 1920 | 310 165 000 | |
| 1920 D | 49 280 000 | |
| 1920 | 46 220 000 | |
| 1921 | 39 157 000 | |
| 1921 | 15 274 000 | |
| 1922(D) | With faint D mintmark, mintage included with 1922 D | |
| 1922(D) | No mint mark D; multiple varieties exist, mintage included with 1922 D | |
| 1922 D | 7 160 000 | |
| 1923 | 74 723 000 | |
| 1923 | 8 700 000 | |
| 1924 | 75 178 000 | |
| 1924 D | 2 520 000 | |
| 1924 | 11 696 000 | |
| 1925 | 139 949 000 | |
| 1925 D | 22 580 000 | |
| 1925 | 26 380 000 | |
| 1926 | 157 088 000 | |
| 1926 D | 28 020 000 | |
| 1926 | 4 550 000 | |
| 1927 | 144 440 000 | |
| 1927 D | 27 170 000 | |
| 1927 | 14 276 000 | |
| 1928 | 134 116 000 | |
| 1928 D | 31 170 000 | |
| 1928 | 17 266 000 | Small mint mark |
| 1928 | Large mint mark | |
| 1929 | 185 262 000 | |
| 1929 D | 41 730 000 | |
| 1929 | 50 148 000 | |
| 1930 | 157 415 000 | |
| 1930 D | 40 100 000 | |
| 1930 | 24 286 000 | |
| 1931 | 19 396 000 | |
| 1931 D | 4 480 000 | |
| 1931 | 866 000 | |
| 1932 | 9 062 000 | |
| 1932 D | 10 500 000 | |
| 1933 | 14 360 000 | |
| 1933 D | 6 200 000 | |
| 1934 | 219 080 000 | |
| 1934 D | 28 446 000 | |
| 1935 | 245 388 000 | |
| 1935 D | 47 000 000 | |
| 1935 | 38 702 000 | |
| 1936 | 309 632 000 | |
| 1936 | 5 569 | Proof with satin finish |
| 1936 | Brilliant proof | |
| 1936 | Double-die obverse (multiple varieties), mintage included in 1936 | |
| 1936 D | 40 620 000 | |
| 1936 | 29 130 000 | |
| 1937 | 309 170 000 | |
| 1937 | 9 320 | Proof |
| 1937 D | 50 430 000 | |
| 1937 | 34 500 000 | |
| 1938 | 156 682 000 | |
| 1938 | 14 734 | Proof |
| 1938 D | 20 010 000 | |
| 1938 | 15 180 000 | |
| 1939 | 316 466 000 | |
| 1939 | 13 520 | Proof |
| 1939 D | 15 160 000 | |
| 1939 | 52 070 000 | |
| 1940 | 586 810 000 | |
| 1940 | 15 872 | Proof |
| 1940 D | 81 390 000 | |
| 1940 | 112 940 000 | |
| 1941 | 887 018 000 | |
| 1941 | 21 100 | Proof |
| 1941 | Double-die obverse (multiple varieties) | |
| 1941 D | 128 700 000 | |
| 1941 | 92 360 000 | |
| 1942 | 657 796 000 | |
| 1942 | 32 600 | Proof |
| 1942 D | 206 698 000 | |
| 1942 | 85 590 000 | |
| 1943 | 20 | Struck in copper rather than steel; estimated to be around 20 examples |
| 1943 D | 1 | Struck in copper rather than steel; 1 known example |
| 1943 | 20 | Struck in copper rather than steel; estimated to be around 20 examples |
| 1944 | 1 | Change in tin alloy composition |
| 1944 D | 430 578 000 | Change in tin alloy composition |
| 1944 D | Change in tin alloy composition; re-pierced mintmark (D over S; two varieties) | |
| 1944 | 282 760 000 | Change in tin alloy composition |
| 1945 | 1 | Change in tin alloy composition |
| 1945 D | 266 268 000 | Change in tin alloy composition |
| 1945 | 181 770 000 | Change in tin alloy composition |
| 1946 | 991 655 000 | Change in tin alloy composition |
| 1946 D | 315 690 000 | Change in tin alloy composition |
| 1946 | 198 100 000 | Change in tin alloy composition (various inverted mint marks exist) |
| 1946 | Change in tin alloy composition; mintmark re-pierced (S over D) | |
| 1947 | 190 555 000 | |
| 1947 D | 194 750 000 | |
| 1947 | 99 000 000 | |
| 1948 | 317 570 000 | |
| 1948 D | 172 637 500 | |
| 1948 | 81 735 000 | |
| 1949 | 217 775 000 | |
| 1949 D | 153 132 500 | |
| 1949 | 64 290 000 | |
| 1950 | 272 635 000 | |
| 1950 | 51 386 | Proof |
| 1950 D | 334 950 000 | |
| 1950 | 118 505 000 | |
| 1951 | 284 576 000 | |
| 1951 | 57 500 | Proof |
| 1951 D | 625 355 000 | |
| 1951 | 136 010 000 | |
| 1952 | 186 775 000 | |
| 1952 | 81 980 | Proof |
| 1952 D | 746 130 000 | |
| 1952 | 137 800 004 | |
| 1953 | 256 755 000 | |
| 1953 | 128 800 | Proof |
| 1953 D | 700 515 000 | |
| 1953 | 181 835 000 | |
| 1954 | 71 640 050 | |
| 1954 | 233 300 | Proof |
| 1954 D | 251 552 500 | |
| 1954 | 96 190 000 | |
| 1955 | 330 958 200 | |
| 1955 | Double die, included in the 1955 mintage | |
| 1955 | 378 200 | Proof |
| 1955 D | 563 257 500 | |
| 1955 | 44 610 000 | |
| 1956 | 420 745 000 | |
| 1956 | 669 384 | Proof |
| 1956 D | 1 | |
| 1956 D | Re-pierced mintmark (D over D) | |
| 1957 | 282 540 000 | |
| 1957 | 1 247 952 | Proof |
| 1957 D | 1 | |
| 1958 | 252 525 000 | |
| 1958 | 875 652 | Proof |
| 1958 | 2 | Double die with initials, only 2 are known |
| 1958 D | 800 953 300 |
Information partially obtained from numist
How to Identify Mint Marks on Coins
Mint marks are located on the obverse of the coin, just below the date. A “D” indicates Denver, an “S” indicates San Francisco, and no mark indicates Philadelphia. These marks are essential for determining the coin’s origin and, often, its value.
Current Numismatic Value
Several factors influence the value of these coins:
- State of conservation: Coins in better condition (uncirculated) have a significantly higher value.
- Year and Mint Mark: Some year and mint combinations are rarer and therefore more valuable.
- Errors and Varieties: Coins with minting errors, such as “double dies,” can fetch high prices.
Examples of Recent Prices at Numismatic Auctions or Markets
- 1909-S VDB: Considered one of the most valuable. A coin from this year bearing the San Francisco mintmark and the initials VDB fetched $168,000.00 at a Stack's Bowers auction.
- 1943 Copper: A rare error, as most were minted in steel, these coins can be worth tens of thousands of dollars. For example, at a Stack's Bowers auction, a penny with this error fetched $317,250.00 US dollars.
- 1958 Double Die: Known for its printing error, it fetched significant values among collectors. A coin with this error fetched $336,000.00 USD at a Stack's Bowers auction.
The 1909-1958 Lincoln cent is not only a cornerstone of American numismatics, but also a reflection of the country's history and evolution. Its innovative design, compositional changes, and the stories behind its variations make it a fascinating object of study and collection. We invite readers to explore more about these fascinating coins and discover the stories each tells.
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