Image source: Wikimedia Commons
A Bird’s Eye View of the 1929 Penny
Did you know that in 1929 approximately 185,262,000 pennies were minted? They were referred to as the 1929 pennies or the Lincoln Wheat Penny coins.
The 1929 penny was called a “Wheat Penny” because it had bars of wheat with the words “one cent” stamped at its back instead of the Lincoln Memorial.
If you would like to see how the 1929 penny looks like go and watch this video:
The 1929 penny came in varieties.
Some were minted in Philadelphia, others in Denver and some in San Francisco. The ones from Philadelphia had no mint marks. The ones from Denver had the letter D. Those from San Francisco had the letter S.
1929 penny errors
Coin collectors often fancy coins that have flaws.
The 1929 penny had found its way in the market of coin collectors not because of its metal content but because of some of its flaws. One of the errors seen in the 1929 penny is the weak imprint of the image that was brought about by accumulation of dirt and grease in the die used.
Coin collectors prefer to have the non-circulated pieces of this penny as its value becomes higher due to its rarity.
There are some pieces of the 1929 penny that have an error in the numbers. You would see a few where the last number 9 looks more like the number 7. The damage was brought about by a rolling or counting machine. In most cases the damage is seen in the last digit or letters.
How Much Is The 1929 Penny Worth?
In 1929, copper was considered a valuable metal.
The 1929 penny had no silver content. It was minted mostly of copper.
The value of this coin was never based on its metal content. The value of this penny was primarily based on the condition of the coin.
The 1929 penny can be valued from thirty five cents to as high as $135. The worth of the 1929 penny is dependent on its condition, markings it may have, if it has double stamping and where it was minted.
If the penny is all worn out, its worth goes down, but if it is still shiny then it can be worth more. Usually a penny that is not used in circulation and is kept as part of a collection is valued higher.
Another consideration in the worth of the 1929 penny is the price of copper when the coin is resold. This penny has 95% copper and the rest is alloy. So the value or worth of this penny can go up or down depending on the price of copper in the market.
Where it was minted is another factor in determining the worth of the 1929 penny.
The 1929 penny was minted in the Denver Mint, San Francisco Mint, Pennsylvania Mint and even in Carson City, Nevada.
The pennies minted in Carson City, Nevada can be worth more since rarely are coins minted there. Those that were minted in Denver and Pennsylvania are valued lower since they are the most common.
Coin collectors consider the 1929 wheat penny a good investment.
They can buy it cheap and resell it for a much higher price with all the factors for a good 1929 penny take into consideration. Here is another video that shows pieces of Lincoln wheat pennies in different conditions.
You will learn how to grade these pennies according and see for yourself if the coins in your keeping are worth more than their value.
Who would ever think that a penny can be worth something more? The 1929 penny sure has proven that this is possible.
Even if there were a lot minted during that time but the errors some had that made them rare pieces and collectors’ items and the value of copper that changes in the global economy and market have made the 1929 penny worth more than its value.
So if you are into coin collecting and plan to get something from your collections in the future, maybe the information this article has would be of help to you. Often getting informed becomes an advantage for us.