Many pennies from the early 1900s hold significant value today due to their rarity, historical significance, or minting errors. These coins, minted between 1900 and 1940, can be worth hundreds or even thousands of dollars, making them highly sought after by collectors. Let’s explore the top ten most valuable pennies from this era and see what makes them so prized.
Top 10 Valuable Pennies from 1900 to 1940
1. 1909-S VDB Lincoln Penny
The 1909-S VDB Lincoln Penny is among the most famous and valuable pennies in American history. It was issued to commemorate Abraham Lincoln’s 100th birth anniversary and marked the first time a U.S. coin featured a president. The initials “VDB” represent Victor D. Brenner, the coin’s designer, and were inscribed on the reverse. With only 484,000 pieces minted, it is a rare find.
- Value Estimate: Up to $1,500 for circulated coins; significantly more for uncirculated examples.
2. 1914-D Lincoln Penny
Minted in Denver, the 1914-D Lincoln Penny is a rarity, with a mintage of only 1.2 million. This coin is highly valued by collectors, especially when found in mint state (MS) condition, where it can command thousands of dollars. Even in circulated condition, it remains valuable.
- Value Estimate: Up to $3,000 in uncirculated condition.
3. 1922 No D Lincoln Penny
The 1922 No D Lincoln Penny is famous for a minting error that omitted the Denver Mint’s “D” mark. Such error coins are highly coveted, and this particular penny stands out as one of the most valuable Lincoln cents. The absence of the mintmark makes it a key item in coin collecting.
- Value Estimate: Up to $12,000 for uncirculated coins.
4. 1931-S Lincoln Wheat Penny
With a limited production of only 866,000, the 1931-S Lincoln Wheat Penny is a sought-after coin from the early 20th century. Its scarcity in higher grades makes it desirable among collectors looking for a quality example of this issue.
- Value Estimate: Up to $200 in better grades; about $100 in circulated condition.
5. 1909-S Indian Head Penny
Before the Lincoln Penny series, the Indian Head Penny was popular. The 1909-S version marked the final year of this series, with only 309,000 coins minted. This low mintage makes it one of the rarest and most valuable Indian Head pennies.
- Value Estimate: Up to $500 in circulated condition; much more for uncirculated coins.
6. 1911-S Lincoln Wheat Penny
The 1911-S Lincoln Wheat Penny is another rare find from this period, with only 4 million minted. Although less scarce than some others on this list, its value can rise significantly for coins in excellent condition.
- Value Estimate: Up to $100 for higher grades.
7. 1917 Double Die Obverse Lincoln Penny
Mint errors often make coins more valuable, and the 1917 Double Die Obverse Lincoln Penny is a prime example. The date and inscriptions on the obverse are doubled, creating a unique appearance that attracts collectors.
- Value Estimate: Up to $3,500 for coins in pristine condition.
8. 1914-S Lincoln Wheat Penny
Although not as rare as its 1914-D counterpart, the 1914-S Lincoln Wheat Penny remains a valuable coin due to its relatively low mintage of 4 million. Coins in top condition can still command high prices.
- Value Estimate: Up to $1,000 for superior examples.
9. 1936 Lincoln Wheat Penny (Doubled Die Obverse)
The 1936 Lincoln Wheat Penny is another error coin that stands out due to the doubling on the obverse. The date and inscriptions exhibit a doubled image, making this coin a prized find.
- Value Estimate: Up to $1,800 for coins in higher grades.
10. 1909 VDB Proof Lincoln Penny
Although more common than the 1909-S VDB, the 1909 VDB Proof Lincoln Penny holds considerable value, especially when found in high-grade condition. Its proof status and limited availability make it appealing to collectors who appreciate coins in exceptional condition.
- Value Estimate: Up to $2,000.
| Coin | Year | Estimated Value | Key Features |
|---|---|---|---|
| 1909-S VDB Lincoln Penny | 1909 | Up to $1,500 | Designer initials “VDB” |
| 1914-D Lincoln Penny | 1914 | Up to $3,000 | Low mintage |
| 1922 No D Lincoln Penny | 1922 | Up to $12,000 | Missing Denver mintmark |
| 1931-S Lincoln Wheat Penny | 1931 | Up to $200 | Low mintage |
| 1909-S Indian Head Penny | 1909 | Up to $500 | Last year of Indian Head series |
| 1911-S Lincoln Wheat Penny | 1911 | Up to $100 | Low mintage |
| 1917 Double Die Obverse Lincoln Penny | 1917 | Up to $3,500 | Doubling on date and inscriptions |
| 1914-S Lincoln Wheat Penny | 1914 | Up to $1,000 | Low mintage |
| 1936 Lincoln Wheat Penny (Doubled Die) | 1936 | Up to $1,800 | Doubling on obverse |
| 1909 VDB Proof Lincoln Penny | 1909 | Up to $2,000 | Proof coin, limited availability |
These early 1900s pennies are not only valuable but also carry historical significance and unique features. Collectors highly prize coins with low mintages or distinct errors, as they represent opportunities to own rare pieces of American numismatic history.
If you suspect you have a valuable penny, consider having it authenticated and graded by a professional numismatist. A tiny coin might just turn out to be a small fortune.
What makes early 1900s pennies valuable?
Rarity, historical importance, low mintage, and unique features like minting errors significantly enhance their value.
How can I tell if my penny is valuable?
Check for distinguishing features such as mintmarks, errors, and condition. Professional appraisal and grading can also help determine its value.
Are error coins more valuable than regular coins?
Yes, minting errors often make coins more desirable to collectors, as they are usually rarer than standard coins.
