The 1938 wheat pennies have value as numismatic coins. Keep reading to learn more about these one cent coins.
Specifications
Type: Wheat Penny
Year: 1938
Face Value: $0.01
Composition: 95% copper, 5% tin and zinc
Total Weight: 3.11 grams
The US minted the 1938 wheat penny with no mint mark and also the 1938 D wheat penny and 1938 S wheat penny. The mint mark, when present, can be found on the obverse side of the coin below the date.
| Series | Location | Quantity Minted |
|---|---|---|
| 1938 | Philadelphia | 156,682,000 |
| 1938 D | Denver | 20,010,000 |
| 1938 S | San Francisco | 15,180,000 |
Value
The 1938 wheat penny with no mint mark is worth around $0.15 in good condition. In very fine condition the value is around $0.40. In extremely fine condition the value is around $1. In uncirculated condition the price is around $4 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $7.
The 1938 D wheat penny is worth around $0.20 in good condition. In very fine condition the value is around $0.80. In extremely fine condition the value is around $1.25. In uncirculated condition the price is around $4 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $7.
The 1938 S wheat penny is worth around $0.40 in good condition. In very fine condition the value is around $0.75. In extremely fine condition the value is around $1.10. In uncirculated condition the price is around $4 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $6.
Proof coins with no mint mark are available and they are each valued at around $60 in PR 63 condition. There were 14,734 proof coins minted.
Grading System
Good- The date is worn but visible. The lines in the wheat heads are not visible. The rims on the coin are full.
Very fine- Lincoln's jawbone and cheekbone are worn but still separated. The wheat heads are not worn.
Extremely fine- There is only slight wear on the coin. All of the details are sharp.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 63 choice uncirculated- In the major focal areas there are some blemishes or contact marks. The coin's luster might not be as prominent.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
Sources:
The Red Book
See also: