Money -> Small-Cents -> Lincoln-Wheat-1909-1958

Probably one of the easiest coins to acquire for a coin collection is the wheat penny. This coin was a United States penny minted from 1909 to 1958. The coin goes by many names, including the Lincoln Wheat Cent and Wheatie, and was worth 1 cent at the time it was minted. While few are worth more than that today, some uncirculated mintings have gone for thousands of dollars at auction.

Most of us who had grandparents or parents who kept pennies in jars have been able to search through those coins and find at least one wheat penny or two. The front of the penny looks indistinguishable, at first glance at least, from the pennies minted today because they still bear the bust of Lincoln on the front (or obverse) side of the coin. The back of course is different, because the two wheat stalks that were on the reverse of the wheat penny were replaced with the Lincoln memorial in 1959.

The change in the reverse design, however, isn’t the only different between the wheat penny and the modern penny. And there are even variations among wheat pennies, depending on the year the penny was minted. Some of the wheat pennies produced in the beginning featured the initials of the sculptor, Victor David Brenner, on the reverse side of the coin below the wheat stalks.

This was a cause of controversy, however, and in 1918 the initials VDB were moved to the front of the coin. You must look very closely at a wheat penny from those early years and you’ll see the tiny initials on the bottom of Lincoln’s bust, below his shoulder. The coins produced before the change was made in California are more valuable than most other types of these pennies, because less than half a million were produced by that mint before the public complained enough about the prominent initial display to have it changed.

These early pennies are called “VDB” cents due to the placement of the initials. If you happen to find a 1909 wheat penny with those initials on the back below the wheat stalks that was minted in San Francisco, California, even if the coin is in poor condition, it could be worth hundreds of dollars. Mint coins with that configuration can go for much, much more. VDB cents minted in Philadelphia hold much less value, because more were produced. The 1914-D coins are also typically quite valuable.

A wheat penny with a minting error can also be valuable, such as the 1922 penny that looks plain because the die was full and couldn’t imprint the coin, and one produced in 1955 which appears minted twice, known as the doubled die coin.

If you can find lots of wheat pennies for very little money, you might enjoy looking for these different variations. Someone without an interest in the wheat penny who puts several up for auction in a lot might not even be aware that they’re selling a gem.

Originally posted 2008-11-17 14:00:16. Republished by Blog Post Promoter

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When it comes to collecting currency, there are many different types of collectors. There are those collectors that prefer to collect coins while others prefer paper. There are even divisions within these as to those who enjoy collecting rare pieces and others who only buy and sell the new notes. No matter which kind you are interested in, you will find collecting coins and paper money something that is fun and profitable for all who are involved in it. You may even find that you want to get the rest of the family involved in it.

Whenever you are getting started, it is good to know the difference between collecting coins and paper money. The first difference that you will notice is the age difference between the two. You will also notice a difference in handling and storage. Additionally, there is a difference between the way that the currencies are graded. It is a good idea to get to know the differences even if you plan on collecting both. This way, you will be able to get to know more about the collections that you have.

Historical Differences

Whenever looking at coins and paper money, you will notice right away that you will not find any paper currency which is over a century old. This is because the use of paper money is a relatively new concept. Coins have been used in one sense or another for a long time. Normally based on the value of the metal itself, these were easy to strike and easy to trade with others. It was not until people started to tire of lugging around pounds of money that they started using bills for higher values.

Handling and Storage

The main difference in terms of handling and storage for coins and paper money is the vessels that they will be stored in. It is important to make sure that you will be able to store everything in the type of container which was made for it so that you will be able to make sure that there will not be any problems with it being bent or scratched in any way. Otherwise, you will still use the same kinds of gloves as well as the same kinds of tweezers to handle your pieces while you are transferring them from one place to another.

Grading Differences

Grading is important for coins and paper money. It is important because it will help you to be able to determine the value of the things you have in your collection. Grades also help you to be able to know how much you should pay for something you are buying. While some companies will grade both kinds, there are others which will only grade one or the other. The grading for the currencies is different because of the fact that there are different requirements for what will make it more valuable. You should get to know what makes each kind more valuable.

Photo Credits: t3rmin4t0r

Originally posted 2011-06-13 03:22:09. Republished by Blog Post Promoter

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