Lincoln Penny : Wheat Penny

Lincoln Penny (1959 to 2025)

The penny or one-cent coin is the lowest denomination of the United States's currency. The most recent version of the penny is the Lincoln cent. The Lincoln Penny was made of 95% copper, 5% zinc from 1959 until 1985. Since 1985 it has been minted with 97.5% zinc, 2.5% copper. It's basically a zinc core with a "very" thin copper jacket.

Some people collect pennies older than 1986 and sell them in bulk, as the metal melt value is worth almost 3x the face value. It is illegal to melt these coins down, otherwise we might not have any pennies older than 1986 in circulation. The Lincoln Penny replaced the Wheat Penny (1909-1958) in 1959.

Wheat Penny (1909-1958)

The Wheat Penny is a classic iconic early 21st century American coin with a face value of 1 cent that was minted from 1909 to 1958. The Wheat Penny is also known by collecctors as the Wheat Cent. The coin is made out of mostly copper, but steel versions of the coin were issued during World War II.

Indian Head Penny (1859-1909)

The face value of the Indian Head Penny is 1 cent. The chemical composition is 88% copper and 12% nickel from the years 1859-1864. The composition changes in 1965 to 95% copper, 5% tin (sometimes zinc was used in place of copper). These coins are popular with persons sharing Native American heritage, while approximately 2 million individuals are enrolled as members of a tribe.

As with most coins of this age, the Indian Head Penny is worth many times more than it's face value indicates. Prices are well above the $10 mark for all of these coins (even in less than mint state) up until about 1879 at which time the minimum is still about $1 to $3 on average.

Breakdown of U.S. Penny coin series:

• Flying Eagle (1856-1858): First small cent, short-lived.
• Indian Head (1859-1909): Preceded Lincoln.
• Lincoln Wheat (1909-1958): Lincoln's profile, wheat stalks on reverse; key dates include 1909-S VDB, 1914-D, 1931-S.
• Lincoln Memorial (1959-2008): Lincoln Memorial on reverse; 1999 Wide AM is a notable error.
• Lincoln Bicentennial (2009): Four unique reverses.
• Lincoln Union Shield (2010-Present): Shield on reverse.

Key Composition Changes

• 1909-1942: 95% Copper, 5% Tin/Zinc.
• 1943: Zinc-coated Steel (wartime).
• 1944-1946: Copper (shell casing bronze).
• 1947-1982 (mostly): Copper/Bronze.
• Mid-1982-Present: Zinc core with copper plating (97.5% Zinc).

Valuable Error & Key Dates

• 1909-S VDB: Key date, low mintage.
• 1922-D "No D": Scarce, no mint mark.
• 1931-S: Key date, low mintage.
• 1943 Copper: Rare copper penny from steel year.
• 1955 Doubled Die: Prominent doubling on date/letters.
• 1972 Doubled Die Obverse (DDO): Valuable doubling.
• 1999-P Wide AM: Spacing error, valuable.
• 1983 Copper (Error): Pennies struck on copper planchets accidentally.