1918 Wheat Penny
The 1918 Wheat Penny is another Philadelphia Mint with an even larger mintage than the previous year, with over 288 million total coins struck. The 1918 Wheat Penny is known for many of the coins being well struck and attractive overall, making this an easy and accessible coin to add to your collection without too much effort. Continue reading to learn more about 1918 Wheat Penny value.
AUCTION RECORD: $2,070
Image source: PCGS
History of the 1918 Wheat Penny
The 1918 Wheat Penny is the first year that the designer, Victor David Brenner, had his initials reappear on the coin after 1909. This time his initials were placed under Lincoln’s shoulder on the obverse, as opposed to placement on the reverse. This is where they stayed until 2009. President Theodore Roosevelt wanted to prepare new coin designs that had more artistic merit. He chose Brenner based on a plaque he created with Lincoln’s profile. The Wheat Penny depicts a bust and profile of Abraham Lincoln on the obverse. The reverse features two stalks of durum wheat.
1918 Wheat Penny Worth
The 1918 Wheat Penny value can reach as high as $2,000 for higher grade Mint State brown varieties of the coin. It can reach as high as $22,000 for Full Red versions of the highest grade, making this a more accessible coin than some high-quality coins in other series. The Wheat Penny series is an affordable series for collectors looking to complete their project at a more accessible cost.
Type of coin: Penny
Year: 1918 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 288,104,634
Metal content: 95% Copper, 5% Tin and Zinc
Face value: 1 cent
Weight: 3.11 grams
Edge: Plain
Designer: Victor David Brenner
Diameter: 19.00 millimeters
FAQ
What is the 1918 Wheat Penny value?
The value of a 1918 Wheat Penny ranges from around 35 cents for circulated grades to over $900 for coins in mint condition.
How rare is the 1918 Wheat Penny?
While not exceptionally rare, the 1918 Wheat Penny can be valuable, especially in higher grades or with specific mint errors.
What factors affect the value of a 1918 Wheat Penny?
Condition, mint mark, and rarity of errors primarily affect its value.
What is the highest price ever paid for a 1918 Wheat Penny?
High-grade examples, particularly those with errors or in mint condition, can fetch several hundred dollars.
Does the condition of the 1918 Wheat Penny significantly affect its value?
Yes, condition greatly influences its value, with uncirculated or nearly uncirculated coins being worth much more.
Are there any known errors on the 1918 Wheat Penny that increase its value?
Errors like double dies, repunched mint marks, or off-center strikes can enhance the coin’s value.
How can I determine if my 1918 Wheat Penny is valuable?
Assess the coin's condition, check for mint marks and errors, and refer to coin value guides or consult with a numismatic expert.
What is the average selling price of a 1918 Wheat Penny?
Circulated 1918 Wheat Pennies typically sell for around 35 cents to a few dollars, with uncirculated or error coins fetching higher prices.
What makes the 1918 Wheat Penny unique compared to other Wheat Pennies?
Its age, being over 100 years old, adds historical value, and specific mint variations or errors can make it more unique.
Can a 1918 Wheat Penny be a good investment?
While common 1918 Wheat Pennies might not offer significant returns, rare error coins or high-grade examples can be a good investment.
What should I do if I find a 1918 Wheat Penny?
Examine it for condition and rare features, and consider having it professionally appraised to determine its true value.
Where is the best place to sell a 1918 Wheat Penny?
Coin dealers, numismatic auctions, and online platforms are suitable venues for selling valuable coins like the 1918 Wheat Penny.
What historical significance does the 1918 Wheat Penny hold?
Minted just after World War I, the 1918 Wheat Penny represents an important period in American history and numismatics.
Are there any special collecting tips for 1918 Wheat Pennies?
Collectors should focus on acquiring well-preserved coins, look for rare errors, and consider coins with clear mint marks.
How does the 1918 Wheat Penny fit into the overall Wheat Penny collection?
It is a significant piece of early 20th-century American coinage, representing the decade after the introduction of the Lincoln Wheat Penny series.
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