The 1932 Wheat Penny is a fascinating piece for coin collectors, minted during the depths of the Great Depression. Though the U.S. Mint did not strike massive quantities of pennies in 1932, the coins that do exist are prized for their historical relevance, rarity, and potential for unique errors.
1932 Wheat Penny Value Chart (Brown Coins)
Below is a general price guide for 1932 Wheat Pennies in brown condition (typical for circulated coins). Prices can vary depending on condition and whether there are any mint errors.
| Mint Mark | Good (G-4) | Fine (F-12) | Very Fine (VF-20) | Extremely Fine (EF-40) | Uncirculated (MS-60+) |
|---|---|---|---|---|---|
| No Mint Mark | $1.00 – $2.00 | $2.00 – $4.00 | $4.00 – $7.00 | $7.00 – $15.00 | $30.00 – $75.00+ |
| D (Denver) | $2.00 – $4.00 | $4.00 – $7.00 | $7.00 – $15.00 | $15.00 – $30.00 | $50.00 – $100.00+ |
| S (San Francisco) | $2.00 – $4.00 | $4.00 – $8.00 | $8.00 – $20.00 | $20.00 – $40.00 | $60.00 – $150.00+ |
🔍 Higher-grade coins (MS-65 and above) and coins with unique errors can fetch several hundred dollars.
History of the 1932 Wheat Penny
The 1932 Wheat Penny was struck during one of the toughest economic times in U.S. history. Amidst the Great Depression, the demand for coinage dropped, and the U.S. Mint reduced production significantly. This resulted in lower mintage numbers, making these coins relatively scarce today—especially in mint state.
Despite these challenging times, the familiar design of the Lincoln cent endured, symbolizing resilience and unity in the face of adversity.
1932 Wheat Penny Types
There are three types of 1932 Wheat Pennies, differentiated by their mint marks:
- No Mint Mark – Struck in Philadelphia
- D Mint Mark – Struck in Denver
- S Mint Mark – Struck in San Francisco
Each mint produced limited quantities, making all types worth collecting, especially in better conditions.
Features of the 1932 Wheat Penny
The 1932 Wheat Penny has several distinguishing features:
- Obverse: Portrait of Abraham Lincoln, facing right
- Reverse: Two stylized wheat ears flanking the denomination “ONE CENT”
- Edge: Plain
Designed by Victor D. Brenner, this classic design was introduced in 1909 and continued through 1958.
The Obverse of the 1932 Wheat Penny
The obverse (front) features Lincoln’s profile with the words:
- “IN GOD WE TRUST” along the top
- “LIBERTY” to the left
- The date “1932” to the right
This design has remained iconic in American numismatics.
The Reverse of the 1932 Wheat Penny
The reverse (back) displays:
- The denomination “ONE CENT” in large font
- “UNITED STATES OF AMERICA” underneath
- “E PLURIBUS UNUM” across the top
- Two wheat stalks curving along the sides
This is the signature design of the Wheat Penny series, symbolizing agricultural strength and national unity.
1932 Wheat Penny Details
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% tin and zinc
- Weight: 3.11 grams
- Diameter: 19 mm
- Edge: Plain
- Mints: Philadelphia (no mint mark), Denver (D), San Francisco (S)
Other Features of the 1932 Wheat Penny
What makes the 1932 Wheat Penny particularly appealing to collectors is its:
- Low mintage across all mints
- Historical context (Great Depression era)
- Potential for rare mint errors
- Strong collector demand
These coins are often targeted for Lincoln cent sets or as standalone investments.
1932 Wheat Penny Grading Guides
Grading coins is essential in determining their value. Here’s a simplified guide:
- Good (G-4): Heavy wear, major details visible
- Fine (F-12): Moderate wear, clear design
- Very Fine (VF-20): Light even wear, strong detail
- Extremely Fine (EF-40): Slight wear, near sharp features
- Uncirculated (MS-60 to MS-70): No wear, mint luster, high value
Coins graded MS-65 or higher are the most valuable and hardest to find.
1932 Wheat Penny Value Guides
Depending on condition and rarity, the values vary significantly:
- Low-grade coins: $1.00 to $5.00
- Mid-grade coins: $7.00 to $30.00
- Uncirculated: $30.00 to $150.00+
- Rare errors / MS-65+: $200.00 and up
1932 No Mint Mark Wheat Penny Value
- Minted in Philadelphia
- Common but still collectible
- Value: $1.00 to $75.00+ depending on grade
1932 D Wheat Penny Value
- Minted in Denver
- Less common than Philadelphia issues
- Value: $2.00 to $100.00+, with uncirculated coins fetching much more
1932 S Wheat Penny Value
- Minted in San Francisco
- Considered the rarest of the three
- Value: $2.00 to $150.00+, depending on condition and rarity
Rare 1932 Wheat Penny Errors List
Mint errors dramatically increase a coin’s value. Look out for:
- Double Die Obverse (DDO) – Doubling in the date or lettering
- Off-Center Strikes – Part of the design is missing or shifted
- Repunched Mint Marks (RPM) – Overlapping mint marks due to multiple strikes
- Clipped Planchets – Small crescent missing from the coin
- Die Cracks – Raised lines caused by breaks in the mint die
Rare errors can increase value by hundreds of dollars, especially in uncirculated condition.
The 1932 Wheat Penny stands as a testament to American resilience and a fascinating piece of numismatic history. With its low mintage, Great Depression-era origin, and potential for valuable errors, it remains a must-have for collectors. Whether you’re hunting for a high-grade specimen or a rare error coin, the 1932 Wheat Penny offers significant potential in both value and storytelling.
