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Lincoln Wheat Penny Prices

How Much Should I Pay to Purchase a Lincoln Wheat Penny?

By , About.com Guide

Lincoln Wheat Cent Example
Image Courtesy of: Heritage Auction Galleries, Ha.com

 

This will give you an idea of how much money you should pay to a coin dealer to purchase a Lincoln Wheat penny that was minted between 1909 to 1958.  The catalog prices below provide average coin prices based upon the condition of the coin.  Coins are considered "circulated" if they have wear on them from being used in commerce. They are referred to as "uncirculated" if they show no signs of wear because they were never used. The pictures below illustrate examples of each condition.

Introduction to Coin Prices

There are many factors that go into determining the price that a dealer charges for coins. An understanding of how the coin market works will help. If the coin dealer runs out of 1909-S VDB Lincoln Wheat pennies, she cannot just call the mint and order more of them because the mint does not make coins dated 1909 anymore. The coin dealer must replenish her supply by buying coins from other dealers or people that come into her store. What she pays you for that coin is known as the "wholesale price" or "value." If you want to buy that 1909-S VDB from the coin dealer, that is known as the "retail price" or "price."

Condition or Grade Examples

Lincoln Wheat penny Average Circulated Condition Circulated Lincoln Wheat penny Average Uncirculated Condition Uncirculated
Click on the photos above for a larger image.
Photos courtesy of Teletrade Coin Auctions, www.teletrade.com

Mint Marks

Lincoln Wheat pennies were produced at three different mints: Philadelphia (no mint mark), Denver (D) and San Francisco (S).  As illustrated in the picture below, the mint mark is located on the obverse of the coin, just below the date on the lower right-hand side.

Lincoln Wheat pennyXX mint mark location
Mint Mark Location
Images Courtesy of: Heritage Auction Galleries, Ha.com


Location of V.D.B. on 1909 Lincolon Cent
Location of V.D.B. on 1909 Cent
On some 1909 pennies, Victor David Brenner's (V.D.B.) initials were included on the reverse.
Image Courtesy of: Heritage Auction Galleries, Ha.com

Lincoln Wheat Penny Average Prices

The following table lists the average price (what you can expect to pay to a dealer) that you would pay to purchase a Lincoln Wheat penny. The first column lists the date and mint mark (see the photo above) followed by the price of an average circulated ("Avg Circ") coin and the average price for an uncirculated ("Avg Unc") one. These are approximate values and the actual price that a particular dealer charges will vary depending on the actual grade of the coin and a number of other factors.

Date Avg Circ Avg Unc Date Avg Circ Avg Unc
1909 $2.60 $16.00 1936 $0.14 $2.80
1909 VDB $8.50 $23.00 1936-D $0.18 $5.90
1909-S $80.00 $320.00 1936-S $0.21 $6.50
1909-S Over Horiz. S $90.00 $350.00 1937 $0.13 $2.20
1909-S VDB $700.00 $1,800.00 1937-D $0.16 $3.30
1910 $0.25 $21.00 1937-S $0.16 $3.10
1910-S $11.40 $100.00 1938 $0.11 $4.00
1911 $0.61 $32.00 1938-D $0.25 $5.40
1911-D $6.30 $130.00 1938-S $0.29 $4.20
1911-S $33.00 $230.00 1939 $0.10 $2.30
1912 $1.40 $40.00 1939-D $0.34 $2.90
1912-D $7.40 $170.00 1939-S $0.17 $2.70
1912-S $22.00 $200.00 1940 $0.08 $1.80
1913 $0.95 $42.00 1940-D $0.12 $2.30
1913-D $3.20 $130.00 1940-S $0.12 $2.50
1913-S $11.60 $220.00 1941 $0.08 $1.50
1914 $0.95 $51.00 1941-D $0.16 $2.70
1914-D $170.00 $2,800.00 1941-S $0.19 $3.10
1914-S $19.00 $370.00 1942 $0.09 $1.50
1915 $2.50 $90.00 1942-D $0.10 $1.80
1915-D $2.20 $90.00 1942-S $0.18 $5.00
1915-S $15.00 $230.00 1943 Steel $0.11 $2.80
1916 $0.29 $24.00 1943-D Steel $0.14 $3.50
1916-D $1.30 $80.00 1943-S Steel $0.18 $6.00
1916-S $2.50 $110.00 1943 Bronze $25,000.00 $120,000.00
Date Avg Circ Avg Unc Date Avg Circ Avg Unc
1917 $0.20 $22.00 1943-D Bronze $85,000.00 $280,000.00
1917 Dbl Die Obv $140.00 $4,400.00 1943-S Bronze $100,000.00 $300,000.00
1917-D $0.80 $100.00 1944 $0.05 $1.50
1917-S $0.67 $120.00 1944 Steel $4,000.00 $100,000.00
1918 $0.25 $26.00 1944-D $0.10 $0.94
1918-D $1.00 $110.00 1944-D D Over S $75.00 $380.00
1918-S $0.66 $120.00 1944-S $0.06 $1.40
1919 $0.24 $18.00 1945 $0.05 $1.10
1919-D $0.81 $75.00 1945-D $0.05 $1.10
1919-S $0.57 $80.00 1945-S $0.06 $1.10
1920 $0.25 $16.00 1946 $0.05 $1.00
1920-D $0.91 $90.00 1946-D $0.05 $1.00
1920-S $0.64 $130.00 1946-S $0.07 $1.00
1921 $0.45 $49.00 1946-S S Over D $14.30 $230.00
1921-S $2.50 $160.00 1947 $0.05 $1.40
1922 No "D" $660.00 $17,300.00 1947-D $0.06 $0.90
1922-D $14.60 $110.00 1947-S $0.06 $1.00
1923 $0.33 $20.00 1948 $0.05 $1.00
1923-S $2.20 $280.00 1948-D $0.06 $1.00
1924 $0.20 $32.00 1948-S $0.06 $1.20
1924-D $22.00 $300.00 1949 $0.05 $1.10
1924-S $1.40 $170.00 1949-D $0.06 $1.00
1925 $0.14 $14.40 1949-S $0.07 $2.00
1925-D $0.87 $80.00 1950 $0.05 $1.00
1925-S $0.72 $160.00 1950-D $0.05 $1.00
Date Avg Circ Avg Unc Date Avg Circ Avg Unc
1926 $0.17 $12.80 1950-S $0.05 $0.90
1926-D $0.36 $90.00 1951 $0.05 $1.00
1926-S $2.40 $260.00 1951-D $0.05 $1.00
1927 $0.16 $11.80 1951-S $0.05 $1.00
1927-D $0.36 $80.00 1952 $0.05 $1.20
1927-S $0.78 $100.00 1952-D $0.05 $0.90
1928 $0.16 $12.00 1952-S $0.05 $2.00
1928-D $0.32 $41.00 1953 $0.05 $1.00
1928-S $0.49 $80.00 1953-D $0.05 $0.90
1929 $0.15 $11.00 1953-S $0.05 $1.00
1929-D $0.27 $29.00 1954 $0.05 $1.00
1929-S $0.25 $26.00 1954-D $0.06 $0.60
1930 $0.15 $6.60 1954-S $0.05 $0.60
1930-D $0.24 $20.00 1955 $0.06 $0.50
1930-S $0.27 $13.70 1955 Dbl. Die $1,000.00 $2,600.00
1931 $0.54 $24.00 1955-D $0.05 $0.50
1931-D $2.80 $67.00 1955-S $0.05 $0.50
1931-S $80.00 $170.00 1956 $0.05 $0.50
1932 $1.50 $22.00 1956-D $0.05 $0.50
1932-D $1.10 $26.00 1957 $0.05 $0.60
1933 $1.20 $24.00 1957-D $0.05 $0.60
1933-D $2.10 $26.00 1958 $0.05 $0.50
1934 $0.18 $5.20 1958-D $0.05 $0.60
1934-D $0.24 $13.60 Date Set $30.00 $800.00
1935 $0.13 $3.60 Date-Mint Set $550.00 $9,000.00
1935-D $0.21 $5.40
1935-S $0.25 $13.30

These prices have been compiled through my personal analysis of the coin market, referencing publications such as Coin Prices, Coin World, "The Official Red Book; A Guide Book of U.S. Coins," published auction results and consulting with various coin dealers.

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