1955 Wheat Penny
The 1955 Wheat Penny had a total mintage of over 33 million coins struck at the Philadelphia Mint. This is a much smaller mintage compared to many of the previous years at the San Francisco, Denver, and Philadelphia Mint. It’s an especially small mintage for the Philadelphia Mint. This was one of the lowest mintages for the Wheat Penny at the Philadelphia Mint, yet the cost of the coin has stayed relatively low in comparison.
AUCTION RECORD: $38,400 • MS67+RD
History of the 1955 Wheat Penny
The 1955 Wheat Penny would make an excellent addition to any Lincoln Cent series collection. With the low mintage, these coins were often saved by collectors rather than being released into circulation. It’s uncertain if this is true for the 1955 Wheat Penny, but it’s possible to find this coin in higher Mint State grades. 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.
1955 Wheat Penny Worth
The 1955 Wheat Penny value ranges from around two thousand dollars to eight thousand dollars for the highest grades documented of this coin. The Wheat Penny comes in colors ranging from brown to brown-red to red. The Full Red versions typically command a higher price compared to the other colors. The 1955 Wheat Penny is an attractive coin that is worth the effort to find with a sharp strike and nice details.
1955-D Wheat Penny Value Chart
- Good (G4): The coin shows considerable wear, and major details are worn flat. Value: $0.05 - $0.10.
- Fine (F12): Moderate to considerable even wear. Entire design is bold with an overall pleasing appearance. Value: $0.10 - $0.20.
- Extremely Fine (XF40): Light wear on the coin's high points; all details are sharp. Value: $0.25 - $0.50.
- Uncirculated (MS60): No traces of wear. The coin may have contact marks and less luster than higher grades. Value: $0.75 - $2.
- Choice Uncirculated (MS63): A sharp and attractive coin with few contact marks and strong luster. Value: $3 - $5.
- Gem Uncirculated (MS65): A near-perfect coin with strong luster, very few contact marks, and outstanding eye appeal. Value: $10 - $20.
The most expensive 1955 Wheat Penny, known for its famous Double Die Obverse error, has reached astounding auction values due to its rarity and demand among collectors. This error resulted from a misalignment during the minting process, leading to noticeable doubling of the inscriptions and date on the coin's obverse side. Approximately 40,000 of these error coins were produced in a single night at the Philadelphia Mint, with about 22,000 entering circulation before the mistake was identified.
The value of these coins varies significantly based on their condition and coloration, with "red" (fully lustrous copper) examples being the most sought after. A brown 1955 Wheat Penny with the Double Die Obverse error sold for $1,500 at an auction in March 2019. An MS60 graded red example is valued by PCGS at $3,250, while an MS65 graded coin can soar in value to $52,500. The pinnacle of these error coins, graded MS65+ by PCGS, holds an estimated value of an astonishing $288,000 each.
Special Notes:
- Error Coins: Any 1955-D Wheat Pennies with minting errors or varieties can be worth significantly more than standard values listed above.
- Market Variability: Coin values fluctuate based on market demand, metal prices, and collector interest. The values provided are estimates and can change.
- Condition and Grading: Professional grading by a reputable service can provide a more accurate value based on the coin's specific condition.
1955 Wheat Penny Specifications
Type of coin: Penny
Year: 1955 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 33,058,000
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
Why is the 1955 Double Die Obverse Wheat Penny Expensive?
- Rarity: The 1955 DDO is a rare error that occurred in a limited number of pennies, making it highly sought after by collectors.
- Demand: Due to its rarity and the story behind its error, there's a high demand among numismatists and collectors, which drives up its value.
- Condition: Like all collectible coins, the condition (or grade) significantly affects its value. A 1955 DDO Wheat Penny in a higher grade, especially those that are uncirculated, can fetch much higher prices.
Value of the 1955 Double Die Obverse Wheat Penny
The value of a 1955 DDO Wheat Penny can vary widely based on its condition. Prices can range from a few hundred dollars for coins in lower grades to over $100,000 for examples in nearly perfect condition. The highest grades, which are rare, can command very high premiums at auctions.
Other Valuable 1955 Wheat Pennies
While the 1955 DDO Wheat Penny is the most famous for its value, other 1955 pennies can also be valuable, especially if they are in exceptionally high grades (MS-67 and above). However, these are much less expensive than the DDO variant but can still be worth significantly more than their face value.
FAQ
1. What is the 1955 Wheat Penny value in average condition?
The 1955 Wheat Penny value in average circulated condition is typically around $0.15 to $0.30. However, the value can be significantly higher for coins in uncirculated condition or with specific errors.
2. How does the condition of the 1955 Wheat Penny affect its value?
The condition of the 1955 Wheat Penny greatly affects its value. Uncirculated coins, especially those with a high grade, can be worth significantly more than those in circulated condition. A key factor is the presence of the "Double Die" error, which can make the coin much more valuable.
3. What makes the 1955 Double Die Wheat Penny so valuable?
The 1955 Double Die Wheat Penny is highly valuable due to a minting error that resulted in doubled lettering and numbers on the coin's obverse. This rarity and the demand among collectors make the 1955 Wheat Penny value for this error variant quite high, often reaching thousands of dollars depending on its condition.
4. Can the mint mark of a 1955 Wheat Penny affect its value?
The 1955 Wheat Penny was primarily minted in Philadelphia, which means most of these pennies do not have a mint mark. The value is more significantly affected by the coin's condition and the presence of errors, such as the Double Die, rather than the mint mark.
5. What is the highest recorded value for a 1955 Wheat Penny at auction?
The highest recorded value for a 1955 Wheat Penny, particularly the Double Die obverse variant, can exceed $100,000 at auction, depending on its grade and condition. This showcases the significant potential value of this coin among collectors.
6. How can I determine the value of my 1955 Wheat Penny?
To accurately determine the 1955 Wheat Penny value, it's recommended to consult with a professional coin grader or numismatist. They can assess the coin's condition, authenticity, and any errors, providing a more precise valuation.
7. Are there any common misconceptions about the 1955 Wheat Penny value?
A common misconception about the 1955 Wheat Penny value is that all 1955 pennies are worth a lot of money. In reality, it's the specific Double Die obverse error coin that holds significant value, while regular 1955 Wheat Pennies in circulated condition are relatively common and not as valuable.