wheat penny

Are later wheat pennies not very popular to coin colectors? Like a 1920's wheat penny-is that worthy as being part of your coin collection, or not?

 

Log in or Sign up to hide this ad.

i keep every wheat penny I get from rolls, change, or anything

 

Welcome to the forum

Wheaties sell for about 3 cents for average ciruclated condition. There are of course some sizeable exceptions. Like most coins, the age alone doesn't increase its value much. A coins overall condition, rarity, and desirability are the real determining factors. A good online reference to US Coins in general is www.coinfacts.com.

 

There are many dates I specifically look for in the 20's and beyond. Just take the 20's and 30's alone...these are dates I look for:

1920-S
1921-S
1922-D
1922- NO D (you have to be very lucky to find one of these)
1923-S
1924-D
1924-S
1925-S
1926-S
1927-S
1928-S
1931-D
1931-S
1932
1932-D
1933-D

For instance, everybody gets excited about the 1931-S. True only 866,000 were minted but a 1931-D in MS65RD condition is actually worth more than a 31-S MS65! These early depression year coins are tough to find in high grades as people back than actually circulated these cents (for food) versus hoarding them.

All of the above dates would sell for at least a $1 minimum in VG condition and the better the grade, their prices go up quickly.

Just wait to 2009 when the 100th anniversary Lincolns (4 differant reverses) hits the streets...I am betting a lot more people will be introduced into the hobby.

Start saving your 1909 Lincolns today! They will be hot in 4 years!

 

If the 1931-S only has a mintage of 866,000 how come Its worth less than the 1914-D with a mintage of 1,193,000?

 

Surviability!

Not many people knew in 1914 and the immediate years afterward that the 1914-D would be a key date coin...so they were circulated just like the previous Denver minted Lincolns.

After all, there weren't low mintage Denver minted Lincolns in 1911, 1912, and 1913, but in 1914 the mint produced just over a million 1914-D's.

So they were circulated, spent, lost, and very few were hoarded and collected.

The 1931-S was a differant story. Collectors were well aware that San Francisco was NOT going to mint Lincolns going forward (they stopped until 1935) and word quickly went out that less than a million 1931-S were minted. So...these 1931's quickly were saved and quickly pulled from circulation. Actually, finding a 1931-S in XF conditions or better is relatively easy. Finding a 1914-D in XF condition or better is extremely rare. If you find one, have it graded because there are many fakes out there (like a 1944-D "shaved" down to look like a 1914-D).

Mintage numbers are important, but coins that are saved in sock drawers instead of used in commerce plays the part in grading. Look at the 1955-S...the last "S" mint until 1968. Word got out that 1955-S would be the "last" year and compared to other mintage numbers of the times, it had relatively low mintage numbers. What happend? People saved ROLLS of these coins. You can easily buy a 1955-S graded Lincoln in MS66 for around $10-15.

Mintage numbers, survial rates, grade and of course...market demand all play a role in the price of these coins.

 

Allright-thanks for the information everyone. It's appreciated. I'll be on the lookout for those coins Midas-
waterbed22

 

Thanks for the info Midas!

 

Hey Midas- why the 1909 wheat pennies? Any particular reaseon? just wondering.
waterbed22

 

100 hundred year anniversary

 

That makes the lincoln penny the longest coin serries in US history right?

 

Yes it does...and one of the most collected.

 

I think I'm going to be able to complete this set this year!! (date and mintmark)....nothing high grade...just mixed circulated coins and also a few BU....
I don't know if the set will go up in 2009 but I think some coins will...some seem way low while other seem high.

Speedy

 

I am one away...the 55 DDO. Recently I picked up a VF30 22 Plain Strong Reverse in an old PCGS holder. That put me back...but it was all part of the hunt.

 

Well I'm not doing to 55DD or the 22-P...as I don't think of them as "real" coins...they are errors in one way...

Speedy

 

Your right...but when I tell other collectors I have a "complete" set, they always seem to ask if I have the 22 Plain and the 55 DDO. I explain that those are not true dates and are errors, but they still ask if I have them.

As for grades, for 1929 to current, they are all MS63 or better grades. Before 1929, they are mainly AU/BU range (except for the 1914-D which is VF and my 1923-S (XF).

This is the result of years of buying, selling and upgrading each slot. My big leap was a 1909S VDB in MS63BN condition. But I am gald I bought it years back as I could sell it for almost twice what I paid for it.

 

I might pick up the 22-P someday and I would like the 55DD but I just don't count them in the set.

I saw a S VDB MS63RB (I think it was 63--maybe it was 64) a few years ago for $3,000.00...the guy still has it but he said he is not trying to sell it any more...at least not to many people.

Speedy

 

My is a 63BN...the RB and RD are jsut way too high for me

 

Amen...know what your talking about!

Speedy

 

what exactly is a 55 DDO? i know its a penny from 1955 (haha, i could be a detective!) but i'm not sure what the error exactly is?