How to Tell the Value of a Wheat Penny
Wheat pennies, also known as the Lincoln Wheat Cent, are one cent coins that circulated in the United States between 1909 and 1958. While most of the more valuable Wheat pennies are held in private collections, there are still a few that circulate from time to time, so when you find one you might be curious about its value. Determining the value of a Wheat penny is relatively easy.
Instructions
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Inspect the penny for signs of wear. Constant circulation wears on coins, occasionally rubbing them down so many of their unique features become indistinguishable. A well-worn Wheat penny will diminish in value severely, so if you happen upon a rare, unworn Wheat penny, put it in a safe place to keep it from becoming defaced.
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Learn about Wheat pennies and the special issues that were made over the years. For example, in 1909, the SVDB Wheat penny, which is currently worth about $525 if in extremely fine condition, contained the designer's initials, increasing the value.
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Look for mintmarks on your Wheat penny. Mintmarks tell you where the penny was made, and those containing mintmarks like D (Denver) and S (San Francisco) may be slightly more valuable than coins without mintmarks.
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Learn the standard numismatic information about coin condition and grading. There are eight levels of coin grading: Proof (PRF), Uncirculated (UNC), Extremely fine (XF), Very fine (VF), Fine (F), Very good (VG), Good (G) and Poor (PR). Each of these gradings also has a numerical grade, and knowing this terminology will help you identify values when you are making comparisons.
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Obtain and study a current coin collector's guide. Current guides are essential, as the values of coins change frequently and you don't want to sell yourself shorty by relying on an old guide.
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Have the coin appraised by a certified coin dealer. Well-versed coin dealers can help you determine the value of your Wheat penny and put you in touch with collectors if you are interested in selling.
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