The 1909 wheat penny is worth between $3.70 (G4) and $117,500 (MS67RD) depending on the type of which there are 6 available.
Some 1909 wheat pennies also come with a Doubled Die Obverse, S/S or S over horizontal S error making them unique and adding more to the value.
The 1909 penny is considered to be rare due to the low numbers that were minted that year at the US Mints of Philadelphia and San Francisco.
This is mainly due to it being a new US one cent coin that was replacing the Indian Head of which there were 14,679,645 also minted that year.
The lower the number of coins that were minted in any particular year, the more valuable they become. Unfortunately you won't find a 1909 D penny as wheaties weren't minted in Denver until 1911.
One of the lowest minted Lincoln wheat cents is the 1909 S VDB at 484,000 which makes it a real collector's item.
In fact, a record auction price of $117,500 was paid for a 1909 S VDB in 2014. It was graded MS67RD by PCGS (Professional Coin Grading Services). Even a well worn 1909 S VDB is worth at least $800.
The V.D.B. on the reverse of some 1909 pennies is the initials of the designer Victor David Brenner.
After a few weeks of minting, the general public didn't approve of the designer's initials appearing on the new Lincoln wheat cents, so they were quickly removed it from later minted wheat pennies of that year and it never reappeared.
There were six different types of wheat back coins produced that year. The initial batch included the initials V.D.B. at the bottom center of the reverse.
There were 27,995,000 produced in Philadelphia worth between $12 - $8,225 and 484,000 produced in San Francisco worth between $804 - $117,500.
An early batch of 1,195 VDB proof coins were also produced in Philadelphia worth between $2,975 - $70,500.
The second batch to be minted didn't include the initials V.D.B.
There were 72,702,618 produced in Philadelphia worth between $3.70 - $6,580 and 1,825,000 produced in San Francisco worth between $106 - $69,000.
Another batch of 2,198 proof coins were also produced in Philadelphia worth between $716 - $3,290.
Watch the video below to find out more about how much 1909 Wheat pennies are worth.
There were three common errors that affected the 1909 Wheat penny. Philadelphia minted coins were affected by a Doubled Die Obverse error which usually happened when an additional, misaligned image was imprinted on to the die by the hub.
As you can see from the image above the date has an outline around it. Sometimes the error is obvious and easy to spot with the naked eye, but on occasion you may need a coin microscope to verify the existance of the Doubled Die Obverse error.
These error coins can be very valuable and a record auction price of $23,000 was paid in 2009 for a 1909 VDB MS67+RD with a Doubled Die Obverse error.
The other two main errors that affect the 1909 wheatie are known as the 'S over S' and 'S over horizontal S'.
These two mintmark errors also known as overmintmark errors occur when a second mintmark is punched over the top of an existing mintmark.
They can also affect the date and may even happen between two different US mint locations such as Denver and San Francisco appearing as a D over S.
A record auction price of $24,000 was paid in 2018 for a 1909 S MS67RD which had a S over horizontal S minting error.
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