1924 Wheat Penny Value

The 1924 Wheat Penny had a total mintage of over 75 million from the Philadelphia Mint. This is one of the harder coins to find in Mint State in red varieties from the Philadelphia Mint during the 1920s. Although it’s difficult to find in higher grades, it’s a fairly affordable and easy-to-find coin in general. It is the 3rd scarcest of the Philadelphia minted coins in the highest grades across all color varieties as well. Continue reading to learn more about 1924 wheat penny value.

AUCTION RECORD: $247 • MS65BN

Image Source: PCGS

History of the 1924 Wheat Penny

The 1924 Wheat Penny would make an attractive addition to any Wheat Penny series collection. Philadelphia Mint coins typically have a sharp strike and are well-made overall. This makes it possible to find a valuable coin at more affordable prices. The Wheat Penny was designed by Victor David Brenner. 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.

1924 Wheat Penny Worth

The 1924 Wheat Penny value ranges from around $200 for uncirculated Mint State coins in the brown variety, which is very affordable for a high-quality coin, all the way up towards $38,000 for Mint State red varieties. When searching for your own 1924 Wheat Penny, look for a sharp strike, and attractive surfaces. Overall, 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: 1924 Wheat Penny

Wheat Penny Mint Mark: Philadelphia

Total mintage: 75,178,000

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

The value of a 1924 Wheat Penny varies significantly based on its condition, mint mark, and any potential errors or varieties. Here's a general overview of its value:

No Mint Mark (Philadelphia)

Circulated Condition: Most circulated 1924 Wheat Pennies from the Philadelphia mint, which do not have a mint mark, are worth about 15 cents to $2.
Uncirculated Condition: Uncirculated or mint state examples can range from $20 to $100 or more, depending on the grade. Coins in higher uncirculated grades (MS-65 and above) can fetch higher prices, especially if they have retained their original mint luster.

"D" Mint Mark (Denver)

Circulated Condition: The 1924-D Wheat Penny is more valuable, with circulated examples ranging from $20 to over $100, depending on the condition.
Uncirculated Condition: Uncirculated 1924-D pennies are quite rare and valuable, with prices starting around $300 and can go up significantly for coins in higher grades.

"S" Mint Mark (San Francisco)

Circulated Condition: The 1924-S Wheat Penny in circulated condition can range from $1 to $10, with the value increasing based on how well-preserved the coin is.
Uncirculated Condition: Like the Denver mint, uncirculated examples of the 1924-S are scarce and sought after, with values starting at $100 and going up significantly for higher grades.

Errors and Varieties

Errors: Specific errors, such as double dies, off-center strikes, or repunched mint marks, can increase the value of a 1924 Wheat Penny. However, significant and widely recognized errors for this specific year are not commonly noted.
Varieties: While there are no major varieties for the 1924 Wheat Penny that significantly impact its value, collectors always seek unique features that might set a coin apart.

Considerations

Condition: The coin's condition is a critical factor in determining its value. Higher grades, indicated by less wear and more original detail, command higher prices.
Market Fluctuations: The values mentioned can fluctuate based on the current market demand for Wheat Pennies and the overall interest in coin collecting.
Professional Grading: For the most accurate assessment of a coin's grade and value, consider having it professionally graded by a reputable service like PCGS or NGC.

Remember, the prices mentioned are estimates and can vary based on several factors, including the coin's appearance, market demand, and where it's sold. For the most precise valuation, consult with a professional numismatist or a reputable coin dealer.

FAQ

What is a 1924 Wheat Penny? A 1924 Wheat Penny is a one-cent coin produced by the United States Mint as part of the Lincoln Wheat Penny series, which ran from 1909 to 1958. It features President Abraham Lincoln on the obverse and two wheat ears on the reverse, symbolizing national prosperity.
How much is a 1924 Wheat Penny worth? The value of a 1924 Wheat Penny depends on its condition and mint mark. Circulated coins without a mint mark are generally worth about 15 cents to $2. The 1924-D (Denver) variant in circulated condition can range from $20 to over $100, and the 1924-S (San Francisco) from $1 to $10. Uncirculated coins can be significantly more valuable, especially those from the Denver mint.
Are there any rare 1924 Wheat Pennies? The 1924-D Wheat Penny is considered the rarest and most valuable of the 1924 variants, especially in uncirculated condition. The 1924-S is also sought after in higher grades.
What errors can be found on a 1924 Wheat Penny? While significant errors that dramatically increase the coin's value are not widely recognized for the 1924 Wheat Penny, collectors look for common errors such as double dies, off-center strikes, and repunched mint marks.
Does the 1924 Wheat Penny have a mint mark? Yes, the 1924 Wheat Penny can have a mint mark. Coins minted in Philadelphia do not have a mint mark, while those minted in Denver and San Francisco bear "D" and "S" mint marks, respectively.
How can I tell if my 1924 Wheat Penny is valuable? To determine if your 1924 Wheat Penny is valuable, examine its condition, check for a mint mark, and consult a current price guide or a professional coin appraiser. Coins in higher grades or those with errors tend to be more valuable.
What is the highest grade a 1924 Wheat Penny can have? The highest grade a 1924 Wheat Penny can have is MS 70 (Mint State Perfect), but such a grade is extremely rare for coins of this age. Most high-value 1924 pennies are found in lower uncirculated grades, such as MS 63 to MS 65.
How do I care for my 1924 Wheat Penny? To care for your 1924 Wheat Penny, handle it by the edges to avoid transferring oils from your skin, store it in a cool, dry place, and use acid-free holders or albums designed for coin storage to protect its condition.
Is it worth getting a 1924 Wheat Penny graded? If you believe your 1924 Wheat Penny is in exceptional condition or has a potential error, it may be worth getting it graded by a reputable grading service like PCGS or NGC. Grading can authenticate and assess the coin's condition, potentially increasing its value.
Where can I sell my 1924 Wheat Penny? You can sell your 1924 Wheat Penny through coin dealers, auctions, online marketplaces, or numismatic shows. For valuable or rare examples, consider consulting with a professional numismatist to ensure you receive a fair price.

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1924 Wheat Penny Value