1950 Wheat Penny
The 1950 Wheat Penny had a total mintage of over 272 million coins from the Philadelphia Mint. The 1950 Wheat Penny is a sought after coin that is more difficult to find in higher Mint State grades than some of the other coins in the series. In the highest uncirculated grades, it is believed that there are less than 20 examples in existence. Cherrypicking is advised with this coin to ensure a sharp strike and attractive surfaces. Continue reading to learn more about 1950 wheat penny value.
AUCTION RECORD: $489 • MS63
Image source: PCGS
History of the 1950 Wheat Penny
The 1950 Wheat Penny is an attractive coin that would make a great addition to any Lincoln Cent series collection. While it is scarce in the highest uncirculated grades, it is relatively easy to find in most circulated and uncirculated grades up to a certain point. 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.
1950 Wheat Penny Worth
The 1950 Wheat Penny value ranges from around a thousand dollars to upwards of ten thousand dollars for some of the highest grades available on the market. It can be difficult to find higher Mint State grades of the coin, and they will likely go for a premium. The Wheat Penny comes in colors ranging from brown to red-brown to red, with the red variety commanding higher prices than the other colors. The Wheat Penny series is an affordable series for those looking to build a circulated grade coin collection for only a few hundred dollars.
The 1950 Wheat Penny is part of the Lincoln Wheat Cent series minted from 1909 to 1958. While the 1950 Wheat Penny is relatively common and was produced in large quantities, making it easily accessible to collectors, certain conditions or rare varieties can enhance its value. Here's an overview of the most valuable 1950 Wheat Pennies, focusing on their condition and any special varieties:
1. 1950 No Mint Mark (Philadelphia)
- Mintage: 272,635,000
- Value Range: Circulated coins are generally worth only a few cents. However, uncirculated examples, particularly those in higher grades (MS-65 and above), can be worth $1 to $20. Exceptionally well-preserved coins graded MS-67 or higher can fetch up to $100 or more.
2. 1950-D (Denver)
- Mintage: 334,950,000
- Value Range: Like the Philadelphia issue, circulated 1950-D pennies are worth a few cents. Uncirculated coins in grades MS-65 and higher can range from $1 to $30. Coins in premium uncirculated conditions (MS-67 or higher) might command prices of $100 to $200+.
3. 1950-S (San Francisco)
- Mintage: 118,505,000
- Value Range: Circulated 1950-S Wheat Pennies are valued at a few cents. Uncirculated examples, especially those in grades MS-65 and above, can be worth $1 to $40. Top-grade specimens (MS-67 or higher) can reach values of $100 to $300+, with the price varying based on the coin's eye appeal and market demand.
Special Considerations for Value
- Condition and Grade: The value of a 1950 Wheat Penny increases significantly with its condition. Coins in uncirculated condition with high grades and original mint luster are particularly sought after by collectors.
- Full Red (RD) Designation: Coins that have retained their original copper luster (referred to as "Red" or "RD") are more valuable. The grading scale includes designations such as Red (RD), Red-Brown (RB), and Brown (BN), with "Red" coins being the most desirable.
- Errors and Varieties: Specific errors or varieties on a 1950 Wheat Penny can increase its value. However, widely recognized errors for this year are not commonly noted, unlike other years in the series.
Type of coin: Penny
Year: 1950 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 272,635,000
Metal content: 95% Copper, 5% Zinc and Tin
Face value: 1 cent
Weight: 3.11 grams
Edge: Plain
Designer: Victor David Brenner
Diameter: 19.00 millimeters
FAQ
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What is a 1950 Wheat Penny? A 1950 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 stalks on the reverse, symbolizing national prosperity.
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How much is a 1950 Wheat Penny worth? The value of a 1950 Wheat Penny varies based on its condition and mint mark. Circulated coins are generally worth only a few cents. However, uncirculated coins in pristine condition can fetch $1 to $20, with premium grades (MS-67 or higher) potentially reaching $100 or more.
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Are there any rare 1950 Wheat Pennies? While the 1950 Wheat Penny itself is not considered rare due to its high mintage, coins in uncirculated condition with full original luster or those with specific mint marks ("D" for Denver and "S" for San Francisco) in high grades can be more valuable to collectors.
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What are the mint marks on a 1950 Wheat Penny? The 1950 Wheat Penny can come with three possible mint marks: none (Philadelphia), "D" (Denver), and "S" (San Francisco). The mint mark is located below the date on the obverse side of the coin.
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How can I tell if my 1950 Wheat Penny is valuable? To determine if your 1950 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 less common mint marks tend to be more valuable.
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What is the highest grade a 1950 Wheat Penny can have? The highest grade a 1950 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 1950 pennies are found in lower uncirculated grades, such as MS 63 to MS 65.
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Can a 1950 Wheat Penny have errors? Yes, like any coin, the 1950 Wheat Penny can have minting errors, such as double dies, off-center strikes, or repunched mint marks. While not commonly reported for this year, errors can significantly increase a coin's value.
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How do I care for my 1950 Wheat Penny? To care for your 1950 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.
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Is it worth getting a 1950 Wheat Penny graded? If you believe your 1950 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.
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Where can I sell my 1950 Wheat Penny? You can sell your 1950 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.
Learn more about 1941 Wheat Penny, 1942 Wheat Penny, 1944 Wheat Penny, 1945 Wheat Penny, 1946 Wheat Penny, 1952 Wheat Penny, 1953 Wheat Penny, 1953-D Wheat Penny, 1955 Wheat Penny, 1956 Wheat Penny, 1956 D Wheat Penny, 1957 Wheat Penny, 1957 D Wheat Penny, 1958 Wheat Penny, 1958 D Wheat Penny, 1919 wheat penny, 1920 wheat penny.