1934 Wheat Penny Value

1934 Wheat Penny Value

The 1934 Wheat Penny is a popular collectible U.S. cent featuring Abraham Lincoln and wheat stalks. As part of the Wheat Penny series, it appeals to collectors due to its historical significance and design. Its collectibility is influenced by factors such as mint mark, condition, and rarity, making it a sought-after coin among numismatists. Collectors can find this coin in brown, red-brown, and full red varieties up to some of the highest uncirculated grades. Continue reading to learn more about 1934 wheat penny value.

 

AUCTION RECORD: $12,650 • MS68

Image source: PCGS 

Type of coin: Penny

Year: 1934 Wheat Penny

Wheat Penny Mint Mark: Philadelphia

Total mintage: 219,080,000

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

 

1934 Wheat Penny Value

As of 2024, the value of a 1934 Wheat Penny typically ranges from about $0.10 to $5.00 in circulated condition, with higher values for uncirculated examples, which can range from $10 to $50 or more. The coin’s value is influenced by its condition, mint mark, and rarity, with well-preserved specimens commanding higher prices.

History of the 1934 Wheat Penny

The 1934 Wheat Penny is an attractive coin that is worth the effort to cherrypick for exactly the coin that you want. The Philadelphia Mint was known for their excellent craftsmanship, with most of these coins featuring a sharp strike and attractive surfaces. The Wheat Penny was designed by Victor David Brenner. At the time, 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.

1934 Wheat Penny Worth

The 1934 Wheat Penny value ranges from over $1200 to upwards of $12,000 for the highest grades of this coin available on the market. The Wheat Penny series is accessible for the novice and experienced collectors alike, with a little bit of something for everyone. One could create a Lincoln Cent collection for just a couple hundred dollars for circulated grades, or spend thousands aiming for a certified collection.  

The value of a 1934 Wheat Penny can vary significantly based on its condition, any potential errors, and whether it has a mint mark. Generally, the 1934 Wheat Penny is considered relatively common in circulated grades, but its value increases in higher uncirculated grades. Here's a general breakdown of its value:

• Circulated Condition: In circulated condition, a 1934 Wheat Penny is typically valued at a few cents to a couple of dollars. Most coins in this condition show signs of wear and use.

• Uncirculated Condition: Uncirculated or mint state 1934 Wheat Pennies can be worth $10 to $20 or more, depending on the grade. Coins with the designation MS-63 (Mint State) might fall into this range, while higher grades like MS-65 and above can fetch higher prices, potentially exceeding $50 to $100 in some cases, especially if they display full original mint luster and have no significant marks or blemishes.

• Errors and Varieties: Any 1934 Wheat Pennies with errors or varieties, such as double dies, could be worth more than standard issues. However, notable errors for this specific year are not widely recognized, so significant premiums over the above values are less common.

• No Mint Mark: The 1934 Wheat Penny from the Philadelphia Mint does not have a mint mark and represents the bulk of the pennies from this year. Its value follows the general guidelines mentioned above.

• Mint Marks: The 1934 Wheat Penny does not have variations from the Denver (D) or San Francisco (S) mints for this particular year, as all were minted in Philadelphia.

When determining the value of your 1934 Wheat Penny, consider having it evaluated by a professional, especially if it appears to be in uncirculated condition or if you suspect it might have collectible errors.

The 1934 Wheat Penny, while generally common in circulation, can become significantly more valuable if it features certain errors. While there are no widely recognized major errors for this specific year that dramatically increase its value compared to other more notable error coins in the Wheat Penny series, collectors still value and seek out any deviations from the standard minting process. Here are some types of errors that could potentially be found on a 1934 Wheat Penny and might add to its value:

1. Double Die Obverse or Reverse: This error occurs when the coin's design is impressed twice by the die, slightly offset, causing a noticeable doubling of letters, numbers, or design elements. Double die errors are sought after by collectors.

2. Off-center Strikes: Coins struck off-center, where part of the design is missing from being improperly aligned with the die, can be valuable depending on the degree of misalignment.

3. Repunched Mint Mark (RPM): Although the 1934 Wheat Penny does not have a mint mark (as it was minted in Philadelphia), in general, coins from years with mint marks can have value added if the mint mark was repunched over an initial, slightly misplaced strike.

4. Die Cracks and Cuds: Die cracks occur when fissures in the die create raised lines on the coin's surface. A cud happens when a piece of the die breaks off, leaving a raised, unstruck area on the coin. Both can add interest and value.

5. Lamination Errors: These errors happen when impurities in the metal cause parts of the coin's surface to peel or flake away. Lamination errors can make a coin more unique and collectible.

FAQ

1. What is a 1934 Wheat Penny? A 1934 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 the bust of President Abraham Lincoln on the obverse and two wheat stalks on the reverse, symbolizing national prosperity.

2. How much is a 1934 Wheat Penny worth? The value of a 1934 Wheat Penny varies based on its condition. Circulated examples are generally worth a few cents to a couple of dollars. In uncirculated condition, its value can range from $10 to over $100 for coins in premium grades.

3. Are there any rare 1934 Wheat Pennies? While the 1934 Wheat Penny is not considered rare in circulated conditions, uncirculated examples with high grades (MS-65 and above) or with specific errors can be more valuable and sought after by collectors.

4. What errors can be found on a 1934 Wheat Penny? Errors on a 1934 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 year.

5. Does the 1934 Wheat Penny have a mint mark? The 1934 Wheat Penny minted in Philadelphia does not have a mint mark. The Philadelphia Mint was the only facility that produced Wheat Pennies in 1934, so all coins from this year will lack a mint mark.

6. How can I tell if my 1934 Wheat Penny is valuable? To determine if your 1934 Wheat Penny is valuable, examine its condition, look for any errors, and consult a current price guide or a professional coin appraiser. Coins in higher grades or those with errors tend to be more valuable.

7. What is the highest grade a 1934 Wheat Penny can have? The highest grade a 1934 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 1934 pennies are found in lower uncirculated grades, such as MS 63 to MS 65.

8. How do I care for my 1934 Wheat Penny? To care for your 1934 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.

9. Is it worth getting a 1934 Wheat Penny graded? If you believe your 1934 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.

10. Where can I sell my 1934 Wheat Penny? You can sell your 1934 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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