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People buy wheat pennies because of their value as a numismatic coin. The numismatic, or coin collecting, value has risen since the original release of the wheat cent in 1909.
Though the wheat pennny, or wheat cent, holds a face value of only one cent, or one hundredth of a US dollar, people are willing to pay easily 3 times to 10 times face value to potentially find valuable rare coins.
Some are so valuable, they can fetch hundreds, thousands, or even millions of dollars. The famous million dollar penny is actually a 1943 copper penny minted out of San Francisco.
Rare Wheat pennies
Rare wheat pennies can be found still to date. The reason is because there are still wheat pennies in circulation as well as those who sell unsearched wheat pennies.
Finding truly unsearched wheat pennies is difficult given how old the valuable coins are at this point. But if you can find a good source, you could potentially find a truly rare and valuable cent. Many people also simply straight up buy wheat pennies from the general market that are already graded.
It’s important to realize that rare wheats are hard to find. Why are valuable wheat cents hard to find? Simply put, if they were easy to find, they wouldn’t be rare. That’s what makes it fun to search and hunt for those rare pennies and hope you get lucky. It’s similar to treasure hunting.
Can I still find Wheat Pennies in Circulation
Yes, but the numbers are dwindling each day. The wheat pennies in circulation are being removed by avid coin collectors around the country wanting to hoard wheat cents. Rare coins are getting harder and harder to find not just because of coin collectors, but also industrial coin sorting operations pulling out valuable coins. This is a good and a bad thing. The bad part is it is harder for you to find these fun rare coins by hand. The good part is that as coins disappear from circulation, the value of similar coins goes up as supply decreases.
So take advantage of the decreasing supply of these types of coins by collecting what you can while supply lasts. Otherwise, it may be too late. Especially if the penny does get eliminated, which many feel is inevitable.
Search, hunt, or buy your wheat pennies today before they’re all gone.