What Is a 1919 Wheat Penny Worth?
The value of a 1919 Wheat penny varies significantly depending on its condition, but most circulated examples are worth between 20 cents and $1, with exceptionally well-preserved or rare varieties potentially reaching values in the hundreds or even thousands of dollars.
The Allure of the 1919 Wheat Penny
The Wheat penny, also known as the Wheat Back cent or Lincoln Wheat cent, is a beloved piece of American history. Minted from 1909 to 1958, it represents a pivotal period in the nation’s economic and social development. The 1919 Wheat penny, in particular, falls within a time of post-World War I recovery and growing industrialization. For collectors, these small copper discs are more than just currency; they are tangible links to the past. Their value lies not only in their metallic composition but also in their historical significance and collectibility.
Factors Influencing Value: The Condition Conundrum
The primary determinant of a 1919 Wheat penny’s worth is its condition, graded on a scale from Poor (or “Poor 1” in some grading schemes) to Mint State (MS60 to MS70). Condition dictates what collectors are willing to pay.
- Poor/Fair: Heavily worn with little to no detail visible. Minimal value.
- Good: Some details are visible, but significant wear is present. Low value.
- Very Good: More detail is visible, but wear is still apparent.
- Fine: Details are clearer, with moderate wear.
- Very Fine: Strong details with only light wear.
- Extremely Fine: Sharp details with minimal wear.
- About Uncirculated (AU): Very little wear, with most original detail intact.
- Mint State (MS): Uncirculated, with no wear. The higher the MS grade (MS65, MS67, etc.), the more valuable the coin.
The Mints: Location Matters
Three mints produced 1919 Wheat pennies: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mint mark is located below the date.
- 1919 (Philadelphia): Common, generally lower value unless in exceptional condition.
- 1919-D (Denver): Slightly scarcer than the Philadelphia issue, potentially more valuable.
- 1919-S (San Francisco): Scarcer than both the Philadelphia and Denver issues, often commanding a higher premium.
The following table summarizes the approximate mintage figures:
| Mint | Mintage |
|---|---|
| 1919 | 392,184,000 |
| 1919-D | 65,630,000 |
| 1919-S | 47,730,000 |
Identifying Errors and Varieties: The Holy Grail
Error coins can significantly increase the value of a 1919 Wheat penny. Common errors include:
- Double Die: A doubled image on the coin, typically on the obverse (Lincoln’s head). This requires careful examination.
- Off-Center Strike: The image is not centered on the coin, leaving a blank area.
- Repunched Mint Mark (RPM): The mint mark was struck more than once, resulting in a doubled or overlapping mark. This is more likely with older coins.
Identifying errors requires expertise and often the assistance of a professional numismatist (coin expert). Even slight errors can drastically increase a coin’s value.
Preserving Your 1919 Wheat Penny: A Care Guide
Proper storage is crucial to maintain or improve the value of your 1919 Wheat penny. Avoid touching the coin directly, as oils from your skin can damage it. Use cotton gloves when handling. Store the coin in a protective holder, such as a mylar flip or a hard plastic case. Avoid storing coins in PVC holders, as they can damage the coin over time. Maintain a stable temperature and humidity to prevent corrosion.
Frequently Asked Questions (FAQs)
How can I tell if my 1919 Wheat penny is worth getting graded?
If your 1919 Wheat penny appears to be in exceptionally good condition (minimal wear, strong details, original luster) or if you suspect it has a significant error or variety, it may be worth getting graded by a reputable grading service like PCGS or NGC. Grading provides an objective assessment of the coin’s condition and authenticity, increasing its market value.
What is the best way to clean a 1919 Wheat penny?
Never clean a collectible coin. Cleaning can remove the coin’s original surface and significantly reduce its value. If you are concerned about the coin’s appearance, consult a professional numismatist who can advise you on proper conservation techniques. Improper cleaning is a very common mistake.
Where can I sell my 1919 Wheat penny?
You can sell your 1919 Wheat penny through several channels:
- Coin Shops: Local coin shops are a convenient option, but they may not offer the highest prices.
- Online Auctions (eBay, etc.): Online auctions can reach a wider audience, but selling fees apply.
- Coin Shows: Coin shows provide opportunities to connect with collectors and dealers.
- Grading Services (PCGS, NGC): Some grading services also offer auction services or can connect you with reputable dealers. Research carefully before choosing a selling method.
What tools do I need to assess the condition of my 1919 Wheat penny?
You will need:
- Magnifying glass: A magnifying glass with good lighting is essential for examining details.
- Coin grading guide: A coin grading guide (such as the Official ANA Grading Standards for United States Coins) provides detailed descriptions of each grade.
- Protective gloves: Cotton gloves will prevent fingerprints and oils from damaging the coin.
- Well-lit workspace: A clear, well-lit workspace is crucial for accurate assessment.
Are there any specific 1919 Wheat penny errors that are particularly valuable?
While any error can increase value, notable errors include doubled die obverse (DDO) varieties. Look closely at the lettering and Lincoln’s features for any signs of doubling. Research specific DDO listings for 1919 pennies to compare your coin.
How does the color of the 1919 Wheat penny affect its value?
The color of a copper coin is often described as:
- Red (RD): The coin retains most of its original red luster.
- Red-Brown (RB): The coin has some red luster mixed with brown toning.
- Brown (BN): The coin has a mostly brown color with little or no red luster.
Generally, Red coins are more valuable than Red-Brown or Brown coins, assuming all other factors are equal.
What is “luster” and why is it important for coin value?
Luster refers to the way light reflects off the surface of a coin. Original mint luster is a crucial factor in determining a coin’s grade and value. Coins with strong, original luster are generally more desirable to collectors. Polishing or cleaning a coin removes luster.
Is it worth buying a 1919 Wheat penny as an investment?
Investing in coins requires research and expertise. While some 1919 Wheat pennies can be valuable, most are not considered high-return investments. Exceptional examples in high grades (MS65 or higher) or with rare errors may offer potential for appreciation, but understand the market fluctuations.
What is the difference between a “business strike” and a “proof” 1919 Wheat penny?
While 1919 Wheat pennies were not officially produced as proofs for collectors, some theories suggest experimental proof strikes may exist. However, standard 1919 pennies are all business strikes, made for general circulation. Proof coins have a sharper strike and a mirror-like surface.
What should I do if I find a 1919 Wheat penny in my pocket change?
Inspect it for condition, mint mark, and any potential errors. Consult a coin grading guide or a professional numismatist to assess its value. Even a circulated 1919 Wheat penny is a fun find and a piece of history! Don’t clean it!
How can I learn more about collecting Wheat pennies?
Numerous resources are available for learning about collecting Wheat pennies:
- Coin collecting books: Many books cover the history, grading, and values of Wheat pennies.
- Numismatic organizations: The American Numismatic Association (ANA) is a leading resource for coin collectors.
- Online forums and websites: Online forums and websites dedicated to coin collecting offer valuable information and discussion.
Can the value of a 1919 Wheat Penny change significantly over time?
Yes, the value of any coin, including a 1919 Wheat Penny, can fluctuate over time due to factors such as supply and demand, economic conditions, and changes in collector interest. Therefore, it’s essential to stay informed about the current market trends and seek updated appraisals for your coins.