1938 Wheat Penny
The 1938 Wheat Penny had a total mintage of over 156 million coins struck at the Philadelphia Mint. While this is a massive total mintage, it is smaller than some of the previous Wheat Pennies struck at the Philadelphia Mint. The 1938 Wheat Penny is a plentiful coin that can be found relatively easily in most circulated and uncirculated grades. Continue reading to learn more about 1938 wheat penny value.
Image source: PCGS
AUCTION RECORD: $834 • AU58
History of the 1938 Wheat Penny
The 1938 Wheat Penny is an attractive coin that usually has a solid strike. Cherrypicking should be easy with this coin due to the plentiful nature of it. Although most coins command a higher price for red varieties of the coin, one coin with a brown coloring sold for over $24,000 in 2020. 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.
1938 Wheat Penny Worth
The 1938 Wheat Penny value ranges from the hundreds to tens of thousands depending on the grade and coloring of the coin. This would make an attractive coin for any Wheat Penny series collection. The Wheat Penny series is great for the novice and experienced collector alike, and a full collection could be obtained for a few hundred dollars depending on what you’re looking for.
Type of coin: Penny
Year: 1938 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 156,682,000
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
1938 Wheat Penny Value
The value of a 1925 Wheat Penny varies based on its condition and mint mark. The prices paid for 1938 Wheat Pennies at coin auctions can vary based on their condition and mint mark. Here are some notable auction results:
- 1938 (Philadelphia) MS67 Red: These coins can fetch around $1,000 to $1,500 at auction.
- 1938-D (Denver) MS67 Red: Coins in this grade have been known to sell for approximately $500 to $800.
- 1938-S (San Francisco) MS67 Red: These coins are rarer in high grades and can command prices upwards of $1,500 to $2,000.
FAQ
What is the value of a 1938 Wheat Penny?
The value of a 1938 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 1938 Wheat Pennies were minted?
In 1938, the Philadelphia Mint produced approximately 157,445,000 pennies, the Denver Mint produced about 21,274,000 pennies, and the San Francisco Mint produced around 21,310,000 pennies.
What are the mint marks for the 1938 Wheat Penny?
The 1938 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 1938 Wheat Penny?
The highest grade for a 1938 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 1938 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 1938 Wheat Penny valuable?
Factors that make a 1938 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 1938 Wheat Penny?
You can sell a 1938 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 1938 Wheat Penny?
To preserve the condition of your 1938 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 1938 Wheat Penny?
In a high-grade 1938 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 1938 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 1938 Wheat Penny, look for noticeable doubling on the date, "LIBERTY," and "IN GOD WE TRUST." Using magnification can help in distinguishing these varieties.
Learn more about: 1943 steel penny value, how many quarters in a roll, 1944 penny value, buy rare coins, dimes worth money, nickels worth money, 1964 quarter value, eisenhower dollar value, 1936 buffalo nickel value, what year quarters are silver, how much is a quarter worth, 1925 wheat penny value, 1940 wheat penny value.