1928 Wheat Penny Value

The 1928 Wheat Penny had a total mintage of over 134 million coins struck at the Philadelphia Mint. The 1928 Wheat Penny is a fairly common coin in circulated grades up to mid-range Mint State uncirculated grades. As you get into the highest grades of this coin, the price is likely to come at a premium. Philadelphia minted Wheat Pennies were often well-struck and attractive, so it should be relatively easy to find a beautiful coin to add to your collection. Continue reading to learn more about 1928 wheat penny value.

AUCTION RECORD: $1,035 • F12

Image source:PCGS

History of the 1928 Wheat Penny

The 1928 Wheat Penny is a more affordable coin in circulated and lower Mint State grades. Cherrypicking is possible with this coin, as there are attractive specimens to be found. 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.

1928 Wheat Penny Worth

The 1928 Wheat Penny value ranges from around $1,000 to $9,000 for Mint State coins varying in colors from brown to red-brown to red. Full reds of the coin in higher grades will always command a higher price, as they are more highly sought after. Although the prices rise in full reds, the 1928 Wheat Penny is a relatively affordable coin in most grades compared to others in the Wheat Penny series.

Type of coin: Penny

Year: 1928 Wheat Penny

Wheat Penny Mint Mark: Philadelphia

Total mintage: 134,116,000

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 1928 Wheat Penny largely depends on its condition, mint mark, and any potential errors or varieties. Here's a general breakdown of its value:

No Mint Mark (Philadelphia)

Circulated Condition: Most circulated 1928 Wheat Pennies from the Philadelphia mint, which do not have a mint mark, are worth about 10 to 50 cents.
Uncirculated Condition: Uncirculated or mint state examples can range from $5 to $30 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 1928-D Wheat Penny is slightly more valuable in circulated condition than its Philadelphia counterpart, generally ranging from 20 cents to $2 or more.
Uncirculated Condition: Uncirculated 1928-D pennies can be worth $10 to $100 or more, with premium grades reaching higher values.

"S" Mint Mark (San Francisco)

Circulated Condition: The 1928-S Wheat Penny in circulated condition can range from 20 cents to a few dollars, depending on the level of wear.
Uncirculated Condition: Uncirculated examples of the 1928-S can range from $10 to $100 or more, with the price increasing significantly for coins in MS-65 or higher grades.

Errors and Varieties

Errors: Specific errors, such as double dies or off-center strikes, can increase the value of a 1928 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 1928 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.

FAQ

What is a 1928 Wheat Penny? A 1928 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 1928 Wheat Penny worth? The value of a 1928 Wheat Penny varies based on its condition and mint mark. Circulated coins are generally worth about 10 to 50 cents, while uncirculated coins can range from $5 to $100 or more, especially for coins with the "D" or "S" mint marks in higher grades.
Are there any rare 1928 Wheat Pennies? While the 1928 Wheat Penny is not considered rare in circulated condition, uncirculated examples, particularly those with high grades from the Denver ("D") and San Francisco ("S") mints, can be more valuable.
What errors can be found on a 1928 Wheat Penny? Errors on a 1928 Wheat Penny can include double dies, off-center strikes, and lamination errors. However, significant errors that dramatically increase the coin's value are not widely recognized for this specific year.
Does the 1928 Wheat Penny have a mint mark? Yes, the 1928 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 1928 Wheat Penny is valuable? To determine if your 1928 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 1928 Wheat Penny can have? The highest grade a 1928 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 1928 pennies are found in lower uncirculated grades, such as MS 63 to MS 65.
How do I care for my 1928 Wheat Penny? To care for your 1928 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 1928 Wheat Penny graded? If you believe your 1928 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 1928 Wheat Penny? You can sell your 1928 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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1928 Wheat Penny Value