1938 Lincoln Wheat Penny Value Guide

The 1938 Lincoln Wheat Penny is a classic bronze cent designed by Victor David Brenner to honor the 100th anniversary of Abraham Lincoln's birth. As a pre-WWII issue, it remains a staple for collectors transitioning from common circulated coins to more historic vintage sets.

What Is 1938 Lincoln Wheat Penny Worth?

The typical price range for 1938 Lincoln Wheat Penny is $1 - $1 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• Mint State (MS) condition significantly increases value compared to heavily circulated examples.
• The presence of original 'Red' (RD) luster is more desirable than 'Brown' (BN) specimens.
• Mint marks from Denver (D) or San Francisco (S) can carry a slight premium over Philadelphia strikes.
• Surface preservation, including the absence of scratches, spots, or heavy wear on Lincoln's cheek and the wheat lines.

How to Identify 1938 Lincoln Wheat Penny?

• Check the obverse for the 1938 date located to the right of Lincoln's bust.
• Verify the reverse features two distinct stalks of wheat flanking the words 'ONE CENT'.
• Look for a mint mark (D for Denver or S for San Francisco) below the date; no mark indicates Philadelphia.
• Confirm the material is a bronze alloy, which should have a reddish-brown or chocolate patina if original.

History of 1938 Lincoln Wheat Penny

The Lincoln Wheat Penny, designed by Victor David Brenner, was first issued in 1909 to commemorate the 100th anniversary of Abraham Lincoln's birth. It replaced the Indian Head Cent and was the first US coin to feature a real person. The 'wheat' design on the reverse was used until 1958, after which it was replaced by the Lincoln Memorial design.