In 1956, the U.S. Mint struck over 1.5 billion Lincoln cents, making this copper coin highly common today. As a result, the 1956 penny value is generally low, even in well-preserved conditions. Only exceptional, red-toned examples in top grades are worth more than just a few dollars.
There are three main varieties of the 1956 cent: the Philadelphia issue (no mint mark), the Denver issue (D mint mark), and proof coins. Many of these are still found in circulation, so if you collect lower-grade coins, adding one is easy. However, if you prefer mint-state examples, you’ll likely need to spend around 5 to 10 cents.
1956 Penny Value Chart by Condition:
| Condition | 1956 No Mint Mark | 1956 D | 1956 D Over Shadow D |
|---|---|---|---|
| Good | – | – | $3.50 |
| Very Good | – | – | $6.05 |
| Fine | $0.06 | $0.06 | $8.36 |
| Very Fine | $0.12 | $0.12 | $12 |
| Extra Fine | $0.14 | $0.14 | $29 |
| AU | $0.18 | $0.18 | $36 |
| MS 60 | $0.41 | $0.35 | $41 |
| MS 63 | $1.20 | $1.20 | $89 |
| PR 63 | $7.05 | – | – |
History of the 1956 Penny
The 1956 Wheat penny is part of a long-running series that began in 1909, marking the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person on the obverse, designed by Victor David Brenner. The reverse showcased two wheat stalks, symbolizing America’s agricultural roots.
1956 Penny Types and Mintage:
| Mint Location | Coin Type | Mintage |
|---|---|---|
| Philadelphia | 1956 no mint mark penny | 420,745,000 |
| Philadelphia | 1956 proof penny | 669,384 |
| Denver | 1956 D penny | 1,098,201,100 |
| Total | – | 1,519,615,484 |
Just over half a century later, in 1959, the U.S. Mint updated the penny’s reverse to commemorate Lincoln’s 150th birthday, replacing the wheat design with the Lincoln Memorial, created by Frank Gasparro. That means 1956 Wheat pennies were among the last to feature the original reverse design.
Features of the 1956 Penny
The obverse of the 1956 penny
This coin is widely recognized by two popular names. The most common, the Lincoln penny, comes from the image of the 16th U.S. President, Abraham Lincoln, featured on the obverse. However, among collectors, it’s also often referred to as the Wheat penny, a nickname inspired by the two wheat stalks depicted on the reverse.
Abraham Lincoln served as President from 1861 to 1865, leading the nation through the Civil War and playing a vital role in the abolition of slavery. Tragically, his life was cut short by assassination, but the nation honored his legacy by making him the first real person to appear on a U.S. coin—a fitting tribute to a leader who shaped the country’s future.
The reverse of the 1956 penny
As mentioned earlier, the reverse of the 1956 Wheat penny features two wheat stalks, along with key elements such as the coin’s face value (“ONE CENT”), the country’s name (“UNITED STATES OF AMERICA”), and the Latin motto “E PLURIBUS UNUM,” which means “Out of many, one”—a tribute to the unity of the American states.
1956 Penny Details:
- Face Value: One cent ($0.01)
- Weight: 0.10970 ounces (3.11 g)
- Composition: 95% copper, with small amounts of zinc or tin
- Thickness: 0.06 inches (1.52 mm)
- Diameter: 0.75 inches (19.05 mm)
- Shape: Round
- Edge: Plain (smooth)
⚠️ Note: There was a small error in your previous text—the diameter is 0.75 inches, not 1.75 inches.
Other Features of the 1956 Penny
The 1956 penny is primarily made of copper, with small admixtures of zinc or tin. This round coin has a thickness of 0.06 inches (1.52 mm), a weight of 0.10970 ounces (3.11 g), and a diameter of 0.75 inches (19.05 mm). Its edge is plain, without any reeding or lettering.
1956 Penny Grading
When determining the value of your 1956 penny, the condition (or grade) of the coin is one of the most important factors. Coin grading ranges from heavily worn pieces (GOOD) to flawless, uncirculated examples (MS or Mint State). Additionally, the color of the coin—whether Red (RD), Red-Brown (RB), or Brown (BN)—also plays a significant role in its market value.
Grading Scale Overview:
| # | Grade |
|---|---|
| 1 | Basal State-1 |
| 2 | Fair |
| 3 | Very Fair |
| 4–6 | Good (G) |
| 7–10 | Very Good (VG) |
| 12–15 | Fine (F) |
| 20–30 | Very Fine (VF) |
| 40 | Extremely Fine (EF or XF) |
| 50 | About Uncirculated (AU) |
| 60 | Mint State (MS 60) |
| 65 | Mint State (MS 65) |
| 70 | Mint State (MS 70) |
To accurately assess your coin’s grade and value, be sure to consult a professional grading guide or certified coin expert. Understanding your coin’s position on this scale is essential before buying, selling, or valuing it.
1956 Penny Value Guides
In 1956, the U.S. Mint struck a total of 1,519,615,484 Lincoln Wheat pennies across two facilities. The Denver Mint was responsible for the majority, producing more than 2.5 times the number of regular circulation coins compared to the Philadelphia Mint. However, only Philadelphia minted proof coins, which were specially made for collectors and are generally more valuable in higher grades.
1956 no mint mark Penny Value
In 1956, the Philadelphia Mint struck a total of 420,745,000 pennies without a mint mark. The copper composition of these coins influences their color, which can range from brown to red-brown to red. These shades have a significant impact on the coin’s value, with red coins generally being the most valuable.
Value by Color:
- Brown (BN): These coins typically range in price from $0.25 to $45, depending on their grade. The highest recorded auction price for a brown penny was $1,610 in 2004.
- Red-Brown (RB): The value for red-brown coins generally falls between $0.35 and $55. The auction record for this type is $820.
- Red (RD): Red pennies are the most sought-after, with prices ranging from $0.55 to $900. A rare 1956 penny in MS 67+ fetched an astonishing $57,600 at an auction in 2022.
The coins minted in 1956 are typically graded between MS 63 and MS 67, with the highest grades commanding the best prices. The sharpness of detail, surface quality, and minimal signs of wear or discoloration contribute to higher values.
1956 penny (proof) Value
Collectors with larger budgets often seek red pennies with cameo contrast, which have a distinct look where the design stands out sharply from the background. These coins typically range in value from:
- PR 65: Around $42
- PR 68: Up to $900
The deep cameo (DCAM) coins, which have an even stronger contrast, are valued significantly higher:
- PR 64 DCAM: Estimated at $175
- PR 65 DCAM: Estimated at $215
- PR 66 DCAM: Estimated at $275
- PR 67 DCAM: Estimated at $725
For the highest-grade PR 68 DCAM pennies, the value is around $5,750, though the record price for this type was an impressive $16,100 at auction in 2003.
1956 D Wheat penny
In 1956, the Denver Mint produced more than double the mintage of the Philadelphia Mint, with a total of 1,098,201,100 pennies. The most affordable 1956 pennies are typically those with a brown color, which are valued between $0.25 and $45.
For red-brown-toned coins, their value ranges from $0.35 to $55, depending on the coin’s grade. However, red Lincoln cents tend to be the most valuable. Most of these coins are priced between $0.55 and $26, but those graded MS 67 can be valued anywhere from $200 to $300.
While most 1956 pennies tend to sell for under $1,000, one exceptional coin caught the attention of collectors. A 1956 MS 67+ red penny with a D mint mark sold for an impressive $18,000 in 2022.
Rare 1956 Penny Errors List
Re-punched mint mark
A re-punched mint mark is an error caused by the double striking of the mint mark, often due to misalignment of the second punch. This imperfection can vary in appearance, but it’s most commonly found when the mint mark is struck more than once, slightly off-center.
The 1956 D/D penny (with a re-punched mint mark) typically ranges in value from $15 to $370, depending on the coin’s condition and color. Red-toned specimens tend to be worth more. However, certain examples can be exceptionally valuable, reaching over $1,000 at auctions due to their rarity and demand.
The D Mint Mark Above Shadow D
This type of 1956 penny features the standard D mint mark, but it is positioned above the shadow of a second, faintly visible D mint mark—a result of a re-punched mint mark (RPM) error. This variety is relatively rare and is typically valued around $100, depending on the condition and quality of the coin.
DDO/DDR (Doubled Die Obverse/Reverse)
The DDO (Doubled Die Obverse) and DDR (Doubled Die Reverse) minting errors are common in pennies, despite the U.S. Mint’s efforts to eliminate them before releasing the coins into circulation. These errors occur when the coin is struck multiple times, causing doubled images on either the obverse (front) or reverse (back) of the coin, or on both sides.
Most DDO/DDR pennies typically range in value from $100 to $325, depending on the size and visibility of the doubled image. However, some rare examples can fetch significantly higher prices at auction. Notably, the record prices are:
- $995 for a red DDR penny in PR 68 grade
- $1,187 for a red DDO penny in PR 68 grade
Double Denomination Error (Penny Struck on the Wrong Planchet)
The double denomination error occurs when a penny is struck on the wrong planchet, which sometimes happened due to the U.S. Mint producing various coin types in 1956. Some notable planchet errors include pennies being struck on:
- Honduras 1-cent planchet
- Dime (10-cent) planchet
- Elliptical planchet
These uncommon errors can be quite valuable. For example, a penny struck on a dime planchet typically sells for between $1,500 and $1,700. These coins are lighter than standard pennies, weighing only 0.084657 ounces (2.4 g), and feature cut-off inscriptions due to the incorrect planchet size.
A 1956 penny struck on a Honduras Centavo planchet is even lighter, weighing just 0.052911 ounces (1.5 g). This error results in a penny missing a significant portion of its outer edge. The most expensive example of this error sold for $2,070.
Additionally, there are rare pennies minted on elliptical planchets, which create eye-shaped coins. One such elliptical planchet penny was sold for $290 in 2021.
Where to sell your penny?
Now that you know the value of your penny, you might be wondering where to sell it. Don’t worry: here’s a guide to some of the best online platforms where you can easily sell your coins, along with their advantages and disadvantages.
Discover the best platforms for selling coins online (pros and cons).
FAQ about the 1956 Wheat Penny
1. Why is the 1956 Wheat Penny important in U.S. coinage history?
The 1956 Wheat Penny is important as it is part of the final years of the Wheat reverse design used on U.S. pennies. After 1958, the design was changed to the Lincoln Memorial reverse, marking the end of the Wheat series that had been in use since 1909. The 1956 penny also has some significant varieties, including rare error coins, which make it interesting to collectors of U.S. numismatics.
2. What is the metal composition of the 1956 Wheat Penny?
The 1956 Wheat Penny is made of:
- 95% copper
- 5% zinc
This composition was standard for pennies from 1909 to 1942 and from 1944 to 1958, before the U.S. Mint switched to a copper-plated zinc alloy in 1962. The copper composition gives the 1956 penny its distinctive reddish-brown color when in good condition.
3. How many 1956 Wheat Pennies were minted?
The 1956 Wheat Penny had a high mintage, with the following numbers:
- Philadelphia (no mintmark): 1,130,530,000
- Denver (D): 430,280,000
- San Francisco (S): 28,350,000
With a total mintage of over 1.5 billion pennies, the 1956 Wheat Penny is relatively common, but it is still collected for its historical significance as part of the final years of the Wheat reverse design.
4. What is the value of a 1956 Wheat Penny today?
The value of a 1956 Wheat Penny depends on its condition and any error varieties:
- Regular circulated coins: Typically worth around $0.05 to $0.25.
- Uncirculated coins: Coins graded MS-63 or MS-64 can be worth around $1 to $10.
- High-grade coins: Coins graded MS-65 or higher may be worth between $20 and $40.
- Error coins: There are varieties and errors in the 1956 penny, such as double die errors or off-center strikes, which may increase its value. Error coins can command higher prices depending on their rarity and condition.
5. Are there any notable error varieties in the 1956 Wheat Penny?
Yes, the 1956 Wheat Penny has a few notable error varieties that collectors find intriguing:
- Double Die Obverse (DDO): Some 1956 pennies show signs of a doubled die on the obverse, particularly in the “LIBERTY” and “IN GOD WE TRUST” inscriptions. This error occurs when a coin is struck multiple times, resulting in a doubling effect on the letters.
- Off-center strikes: Like many other years, some 1956 pennies were struck off-center, which can make the design appear misaligned or incomplete. These coins are considered more valuable for collectors seeking unusual errors.
- Die cracks and other minor errors: Some 1956 pennies also show die cracks or cud marks, which are raised areas caused by die damage. These minor errors can increase a coin’s collectibility.
Coins with error varieties are generally more valuable than regular 1956 pennies in standard condition.
6. How does the 1956 Wheat Penny compare to other years in the Wheat series?
The 1956 Wheat Penny is considered more common than some other years in the Wheat series due to the high mintage of over 1.5 billion pennies. However, it still holds historical significance as part of the final year before the transition to the Lincoln Memorial reverse design.
Compared to earlier years, such as those from the 1930s and 1940s, the 1956 penny is relatively abundant, but it still remains desirable among collectors who specialize in the Wheat series. The high-grade uncirculated coins and error varieties from 1956 are of particular interest.
7. How can I identify a high-grade 1956 Wheat Penny?
To identify a high-grade 1956 Wheat Penny, look for:
- Sharp details: The Lincoln portrait, wheat stalks, and inscriptions should be well-defined with little to no wear.
- Minimal wear: A high-grade coin will show no wear on Lincoln’s features, the wheat stalks, or the rim. The coin should appear as though it has never been in circulation.
- Clean surfaces: High-grade coins should have clean, smooth surfaces with no scratches, abrasions, or signs of handling.
- Luster: Uncirculated coins will retain their original luster, appearing shiny with a reflective surface. Coins with MS-65 or higher grades will have very few imperfections and should shine brightly.
Coins that exhibit sharp details, minimal wear, and original luster are valuable to collectors and can command higher prices.
