1920 Wheat Penny Value

As one of the first coins in history to feature the portrait of Abraham Lincoln, the 1920 Lincoln wheat penny plays a significant role in United States coinage. The value of the wheat penny series varies depending on condition, mint mark, and errors. Read on to learn more 1920 wheat penny value and which pennies are worth money. 

History of the 1920 Lincoln Wheat Penny

The Lincoln wheat penny, also known as the Wheat Cent, was first minted in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. The cent coin features an image of Lincoln on the front, designed by sculptor Victor David Brenner. Two wheat ears are featured on the back.

In 1920, the Lincoln wheat penny was produced at three different mint states: the Philadelphia Mint, the Denver Mint, and the San Francisco Mint. The coins minted in Philadelphia had no mint mark, while the ones from Denver had a small “D” mint mark and “S” for those produced in San Francisco.

This U.S. coin was produced in large numbers, with a total mintage of over 300 million coins across all three mints. Despite the high mintage, some of the coins were struck with errors or variations, which can make them more valuable to coin collectors.

Features of the 1920 Lincoln Wheat Penny

The 1920 Lincoln wheat penny has several distinguishing features that make it unique. Some of the critical elements of the coin include the following:

1. Obverse: The coin's obverse features a portrait of Abraham Lincoln facing to the right. “In God We Trust” is inscribed above Lincoln’s head. The year of the mintage “1920” is marked below.
2. Reverse: The coin's reverse features two stalks of wheat, with the words “ONE CENT” inscribed in the center. The motto “E PLURIBUS UNUM” (Latin for “Out of many, one”) is engraved above the wheat stalks, and the words “UNITED STATES OF AMERICA” are inscribed around the rim.
3. Mint marks: The 1920 Lincoln wheat penny was produced at three U.S. mints. The coins minted at the Philadelphia Mint have no mint mark, while the ones from the Denver Mint have a small “D” mint mark, and those from the San Francisco Mint have an “S” mint mark.
4. Composition: The 1920 Lincoln wheat penny’s metal composition includes 95% copper and 5% tin and zinc. The coin’s diameter is 19 mm, and it weighs 3.11 grams.
5. Variations: Some 1920 Lincoln wheat pennies were struck with errors or variations, which can make them more valuable to collectors. One of the most notable variations is the 1920-D Lincoln wheat penny with a doubled die obverse.

This means that the design was stamped twice, creating a noticeable doubling effect on the image of Lincoln. Another notable variation is the 1920-S Lincoln wheat penny with a weak or missing “S” mint mark.

What Are the Different Types of the Lincoln Wheat Cent?

The Lincoln Wheat Cent series, minted from 1909 to 1958, includes several types of coins that interest coin collectors and coin dealers.

Some of the critical kinds of Lincoln Wheat Cents include the following:

1909 VDB

The first Lincoln Wheat Cent was minted in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. This old coin features an image of Lincoln on the front and two stalks on the back. The initials “VDB” were added to the currency in honor of the designer, Victor David Brenner, but were later removed due to public criticism.

1909-S VDB

This is a rare variety of the 1909 Lincoln Wheat Cent with the initials “VDB” on the reverse. Only a small number of these coins were minted before the initials were removed, making them highly sought out by numismatists.

1914-D

This coin is considered one of the key dates in the Lincoln Wheat Cent series. It has a relatively low mintage of only over one million coins and is particularly difficult to find in high grades.

1922 Plain

This is another rare variety of the Lincoln Wheat Cent. Due to an error at the Denver Mint, a smaller number of 1922 coins were struck without the “D” mint mark, making them highly valuable to coin collectors.

1943 Steel Cent

During World War II, The U.S. Mint switched to using steel instead of copper to conserve precious metal resources for the war effort. The  1943 Steel Cent is one of the most famous coins in U.S. history and is highly prized by collectors.

1955 Doubled Die

This is one of the most famous and valuable varieties of the Lincoln Wheat Cent. Due to an error in the die-making process, some coins were struck with a noticeable double effect on the obverse, making them highly sought-after by numismatists.

These are just a few of the critical types of Lincoln Wheat Cents that coin collectors may be interested in. Many other variations and rare dates in the series can make collecting these copper pennies challenging and rewarding.

How Much Is the 1920 Wheat Penny Worth?

The value of a 1920 wheat penny can vary depending on the coin's specific mint mark, condition, and rarity. Some approximate values for the 1920 wheat penny coins include the following:

1920-D Wheat Penny Value

A 1920-D wheat penny minted in the Denver Mint, in circulated condition, is worth around $.25 to $1.00. In uncirculated condition, it can be worth $20 or more. Red mint state pieces can be worth $150 to $20,000.

1920-S Wheat Penny Value

A 1920-S wheat penny, minted in San Francisco, in circulated condition, is worth around $1 to $7. In uncirculated conditions, it can be worth $40 or more. Red uncirculated grades can be worth $1,000 to $10,000.

1920 No Mint Mark Wheat Penny Value

In the circulated condition, a 1920 no-mint mark wheat penny minted in Philadelphia is worth around $.10 to $1. In uncirculated condition, this valuable coin is worth $50 or more. Higher grades can be worth upwards of $10,000.

Important Penny Error Coins

There are several known error coins for wheat pennies. Some of the most important ones include the following:

• Doubled die errors: This happens when the die used to strike the coin is engraved with a doubled image. This error causes the currency to have a blurred or folded appearance.

• Off-center strikes: This error occurs when the coin is not struck in the center of the blank planchet, causing parts of the design to be missing or cut off.

• Repunched mint marks occur when the mint mark is stamped multiple times or in different positions on the coin.

• Repunched dates: This error occurs when the date on the coin is stamped multiple times or in different positions.

• Broadstrikes: This happens when the coin is struck without the retaining collar, causing the currency to have no rim and a larger-than-usual diameter.

• Clipped planchet: This error occurs when part of the coin’s planchet is cut off during the minting.

These are just some common wheat  penny errors, but there are many more. Each error can affect the coin's value differently, so it’s essential to have any potential errors professionally authenticated and appraised to determine their value.

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FAQ

How much is a 1920 penny worth?

A standard 1920 Lincoln Wheat Penny in circulated condition is typically worth about 20 cents to a few dollars. Uncirculated coins or those in mint condition can fetch higher prices, especially if they are well-preserved with clear details and luster.

Are there any rare 1920 pennies?

While the 1920 penny itself is not considered exceptionally rare, certain mint marks and conditions can make specific coins more valuable. High-grade examples are particularly sought after.

What are the key factors that affect the value of a 1920 penny?

The key factors include the coin’s condition, mint mark, and any potential errors or varieties. Coins in higher grades (MS+ or uncirculated) are typically more valuable.

What mint marks are found on 1920 pennies?

The 1920 penny was minted in Philadelphia (no mint mark), Denver (marked with a "D"), and San Francisco (marked with an "S"). The presence and type of mint mark can affect the coin’s value.

How can I tell if my 1920 penny is valuable?

Look for coins in excellent condition or those with lower mintages and mint marks from Denver or San Francisco. Also, check for rare errors, such as double dies or misstrikes.

What is the value of a 1920-D penny?

The 1920-D (Denver mint) penny is more valuable than its Philadelphia counterpart, typically worth from a few dollars in good condition to over $100 in uncirculated condition.

What is the value of a 1920-S penny?

A 1920-S (San Francisco mint) penny ranges in value from a few dollars in lower grades to several hundred dollars in uncirculated condition, depending on the coin’s overall appearance and market demand.

How does the grading condition affect the value of a 1920 penny?

The grade of the coin is critical; pennies graded higher on the Sheldon scale (e.g., MS 60 and above) are valued much higher due to their better preservation and finer details.

Are there any error coins from 1920 that are particularly valuable?

Error coins from 1920, such as those with off-center strikes, repunched mint marks, or double dies, are considered more valuable and collectible. These errors can significantly increase the coin's value.

Where can I sell my 1920 penny?

You can sell your 1920 penny through coin dealers, at coin shows, online auctions, or through specialized numismatic auction houses. For valuable coins, consider getting a professional grade from a recognized service like PCGS or NGC to maximize its resale value.

Sources:

Most Valuable Lincoln Wheat Pennies (Keys & Varieties) | The Spruce Crafts

Victor David Brenner | Abraham Lincoln | American | The Metropolitan Museum of Art

Historic Coin Production | U.S. Mint

Types of Mint Error Coins | The Spruce Crafts