Wheat pennies from 1924 are not particularly rare; they are in fact quite common. The Philadelphia Mint released over 75 million wheat pennies in 1924; this figure does not reflect pennies that were not released into circulation.
Just because the 1924 wheat penny is not rare does not mean it is not valuable. At minimum, an average wheat penny is worth 75 cents, which is 75 times its face value. If the penny is in perfect condition, it can be worth up to $450. The most valuable is the 1924 S wheat penny, which can be worth up to $485 in perfect condition.