1956 Wheat Penny
The 1956 Wheat Penny had a total mintage of over 420 million coins struck at the Philadelphia Mint. It’s possible to find the 1956 Lincoln Cent in both circulated and uncirculated grades, as the mintage is so high, especially compared to the past few years that had some of the lowest mintages for the Philadelphia Mint. The higher the grade with the 1956 Wheat Penny, the more scarce it becomes. Cherrypicking is advised to ensure a sharp strike and attractive surfaces and details. Continue reading to learn more about 1956 wheat penny value.
AUCTION RECORD: $4,995
Image source: PCGS
History of the 1956 Wheat Penny
The 1956 Wheat Penny would make a great addition 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.
1956 Wheat Penny Worth
The 1956 Wheat Penny value ranges from around sixteen hundred dollars to upwards of seven thousand dollars for the highest Mint State grades available. The Wheat Penny comes in colors ranging from brown to a red and brown coloring to a full red version. The full red versions typically command a higher price compared to the others. The Wheat Penny series is an affordable series for those looking to build a circulated grade coin collection for only a few hundred dollars, while also offering value for the serious collector.
Type of coin: Penny
Year: 1956 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 420,745,000
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
What is the 1956 Wheat Penny value?
The value of a 1956 Wheat Penny typically ranges from 15 cents for circulated examples to several thousand of dollars for coins in mint condition.
How rare is a 1956 Wheat Penny?
The 1956 Wheat Penny is not considered particularly rare, but coins in uncirculated or pristine condition can be more valuable.
What factors influence the 1956 Wheat Penny's value?
Condition, mint mark, and the presence of any errors or unique characteristics primarily determine the coin's value.
What is the highest value ever paid for a 1956 Wheat Penny?
While exact sale prices can vary, high-grade 1956 Wheat Pennies, especially those with errors, can fetch several hundred dollars.
Does the condition of the 1956 Wheat Penny significantly affect its value?
Yes, condition significantly impacts value, with higher grades (like uncirculated or proof) commanding much higher prices.
Are there any known errors on the 1956 Wheat Penny that increase its value?
Errors such as double dies, off-center strikes, or repunched mint marks can make a 1956 Wheat Penny more valuable.
How can I determine if my 1956 Wheat Penny is valuable?
Assess the coin’s condition, look for any mint marks or errors, and consult a reputable coin guide or a professional appraiser.
What is the average selling price of a 1956 Wheat Penny?
Circulated coins typically sell for around 15 cents to a few dollars, while uncirculated coins can fetch higher prices.
What makes the 1956 Wheat Penny unique?
As a part of the long-running Wheat Penny series, its uniqueness primarily comes from its condition, mint year, and any potential errors or rarities.
Can a 1956 Wheat Penny be a good investment?
While common 1956 pennies might not fetch high prices, those in excellent condition or with rare errors can be valuable to collectors.
What should I do if I find a 1956 Wheat Penny?
Examine its condition and any distinctive features, and consider having it appraised by a professional for an accurate valuation.
Where is the best place to sell a 1956 Wheat Penny?
Selling through reputable coin dealers, numismatic auctions, or online marketplaces can yield the best results.
What historical significance does the 1956 Wheat Penny hold?
It represents the later years of the Wheat Penny series, showcasing post-World War II American coinage history.
Are there any special collecting tips for 1956 Wheat Pennies?
Collectors should focus on acquiring high-grade examples or those with verifiable errors to add value to their collection.
How does the 1956 Wheat Penny fit into the overall Wheat Penny collection?
The 1956 Wheat Penny is an essential part of the series, representing the later production years and contributing to the complete set of Wheat Pennies spanning from 1909 to 1958.
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