1937 Wheat Penny
The 1937 Wheat Penny is a U.S. cent featuring Abraham Lincoln on the obverse and wheat ears on the reverse. Made from 95% copper, its value typically ranges from a few cents to $5 in circulated condition, while uncirculated coins can be worth $10 to $50 or more, depending on quality and mint mark. Although the Philadelphia Mint was known for its excellent craftsmanship, this was the first year, up until 1944, when the coins were of even higher quality than previous years. Continue reading to learn more about 1937 wheat penny value.
History of the 1937 Wheat Penny
The 1937 Wheat Penny is an attractive coin that is very easy to find in most grades. This coin is well-struck and will add value to any Lincoln Cent series collection. 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.
1937 Wheat Penny Worth
The 1937 Wheat Penny value ranges from under seven hundred dollars to upwards of seven thousand dollars depending on the grade and coloring of the coins. Considering the quality of these coins, they are well worth the effort to find just the right one. It’s possible to find the 1937 Wheat Penny at a relatively affordable price, even in higher uncirculated grades, making this a valuable piece to add to any Wheat Penny series collection.
Type of coin: Penny
Year: 1937 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 309,170,000
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
1937 Wheat Penny Value
The value of a 1937 Wheat Penny varies based on its condition and mint mark. The highest prices paid for 1937 Wheat Pennies at coin auctions are usually for those in outstanding condition, often graded MS67 or higher with the "Red" (RD) designation. Here are some notable auction results:
- 1937 (Philadelphia) MS67 Red: These coins can fetch between $1,500 and $2,500 at auction.
- 1937-D (Denver) MS67 Red: Coins in this grade have been known to sell for around $1,500 to $2,000.
- 1937-S (San Francisco) MS67 Red: These coins are particularly rare in high grades and can command prices upwards of $2,500 to $3,500.
FAQ
What is the value of a 1937 Wheat Penny?
The value of a 1937 Wheat Penny depends on its condition and mint mark. In circulated condition, it typically ranges from $0.10 to $5.00. Uncirculated coins can range from $5 to over $100, with higher values for coins in top grades with the "Red" (RD) designation.
How many 1937 Wheat Pennies were minted?
In 1937, the Philadelphia Mint produced approximately 309,170,000 pennies, the Denver Mint produced about 56,360,000 pennies, and the San Francisco Mint produced around 26,720,000 pennies.
What are the mint marks for the 1937 Wheat Penny?
The 1937 Wheat Penny was minted in three locations: Philadelphia (no mint mark), Denver (D mint mark), and San Francisco (S mint mark).
What is the highest grade for a 1937 Wheat Penny?
The highest grade for a 1937 Wheat Penny is typically MS67 or MS68, with the "Red" (RD) designation being the most valuable. Coins in these grades can fetch high prices at auctions.
Are there any error varieties of the 1937 Wheat Penny?
Yes, there are some error varieties such as double dies, repunched mint marks (RPM), and off-center strikes. These error coins can be worth significantly more than regular issues depending on the type and severity of the error.
What makes a 1937 Wheat Penny valuable?
Factors that make a 1937 Wheat Penny valuable include its condition (grade), mint mark, rarity of any error varieties, and whether it has the "Red" (RD) designation. Coins with sharp details and original mint luster are more desirable.
Where can I sell a 1937 Wheat Penny?
You can sell a 1937 Wheat Penny through coin dealers, auction houses, and coin shows. Having the coin graded by a professional service can help you get the best price.
How do I preserve the condition of my 1937 Wheat Penny?
To preserve the condition of your 1937 Wheat Penny, store it in a cool, dry place, ideally in a coin holder or capsule to protect it from handling, moisture, and environmental factors. Avoid cleaning the coin, as this can reduce its value.
What are the key characteristics to look for in a high-grade 1937 Wheat Penny?
In a high-grade 1937 Wheat Penny, look for sharp details in Lincoln’s portrait, clear and distinct lines on the wheat stalks, and minimal wear or contact marks. The "Red" (RD) designation indicates that the coin has retained much of its original copper color, which adds to its value.
How can I identify a double die variety on a 1937 Wheat Penny?
A double die variety occurs when the design elements on the coin appear doubled due to a misalignment during the minting process. To identify a double die on a 1937 Wheat Penny, look for noticeable doubling on the date, "LIBERTY," and "IN GOD WE TRUST." Using magnification can help in distinguishing these varieties.
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