For the record, that is an oxymoron. A "Wheat Penny" is a Lincoln Cent with wheat ears on the reverse. Wheat Cents were minted 1909-1958.
to hobo i know what a wheat cent is, i have about 400 ranging from 1910-1958 and i have one indian head penny from 1898
You must be very wealthy to afford to have a collection like that. The way you describe your 1898, that, alone, is probably worth at least 5X its face value.
im still counting them but 1898-1949,1957,1958 i have 680 and have the years 1950-1956 still to count, i havent got it aprised it was a gift from my dad he has been collecting them for me and i also have a blank penny!!!
Is it comparable to this, in terms of wear? This is a VG10. An 1898 in this condition, problem-free (no cleaning, damage, etc.), is worth about $3. Lance.
Without a photo, this is probably the best way to do this. Compare it to the coins here: http://www.pcgs.com/photograde/#/Indian/Grades Then, post what grade you'd say it compares to. Then people could post a value for you. But, it's probably worth a few bucks the way you describe it. BTW, I also love wheat cents. One of my favorite coins to stockpile.