Correct term is a Cent, pennies are what the British have... But, unless it's in Uncirculated condition, maybe around .05 cents - .10 cents
Cent and penny are used interchangeably. The coin says ONE CENT but a bank will sell you a roll of pennys. In the grade of Extremely Fine 1950 Cents list at 20 cents regardless of mintmark.
We aren't taught any better in school the differance between a penny and a cent. But, if you know where to sell 1950's wheat cents in EF for .20 cents, please let me know. Penny: Cent:
"But, if you know where to sell 1950's wheat cents in EF for .20 cents, please let me know." The price I quoted is an "average" retail value. It was taken from the May 2005 Coin Prices magazine and represents the approximate price one might pay if one were buying it from a dealer. Perhaps there is a rough "Rule Of Thumb" for figuring the price one might get if one were selling to a dealer? Maybe stated as a percentage of retail for those without access to Grey sheet information? This would be much more helpful than a lecture on semantics.
That's the problem with price guides like the one you mention in Coin Prices - you can't really use a percentage or rule of thumb because the values listed in the price guides are not realistic to begin with. Some of the time they are off by 50% - other times they are off by 200 - 300%. The best rule of thumb there is - is to not believe what you read in the price guides. I have yet to EVER see one be accurate.
