Lincoln pennies are some of the most iconic coins produced by the U.S. Mint. Among them, Wheat pennies and Memorial cents stand out as some of the most widely collected pieces in American coinage. These coins were minted in high numbers, and it’s still possible to find examples in excellent condition with high grades.
However, evaluating these pennies can be a complicated process, especially when determining their value. For this reason, hiring a professional appraiser is often the best course of action. Nevertheless, having an understanding of how to grade Lincoln Wheat pennies on your own can be helpful, particularly when dealing with more affordable pieces that fall within lower grade ranges.
Grading Standards
Coins often exhibit signs of wear and damage after circulating for a period, while those in mint state can show “bag marks” due to friction and contact with other coins in bags. Regardless of the type of wear, any form of damage plays a crucial role in determining a coin’s grade.
Throughout history, collectors have developed various grading systems, but in the 1970s, the modified Sheldon scale became the standard.
The Sheldon scale was created by Dr. William Sheldon, an American psychologist, eugenicist, and numismatist. This scale assigns a grade of 1 to the worst possible condition of a coin, while the highest quality specimens are ranked with a grade of 70.
Understanding Grades for Lincoln Wheat Penny
The Lincoln Wheat penny, featuring two wheat stalks on the reverse, was first minted in 1909. Initially, the Philadelphia and San Francisco mints produced the first sets of these coins.
The Denver mint joined in two years later, in 1911. All three mints produced large quantities of the coins, and many of them remained in circulation until 1958, when the US Mint released the last batch of Wheat pennies.
Wheat Penny Specifications:
- Compound: Copper with alloy tin and zinc
- Face Value: One cent ($0.01)
- Coin Diameter: 0.75 inches (19.05 mm)
- Coin Weight: 0.11 ounces (3.11 g)
- Coin Thickness: 0.06 inches (1.52 mm)
Grading Wheat pennies can be a challenging task, but by following established grading standards and the Sheldon scale, it becomes much easier. However, some coins, especially those with poor strikes, still require special attention.
For example, many pennies minted between 1911 and 1927 at the Denver and San Francisco mints suffered from mis-strikes due to worn-out dies. These poorly imprinted designs can lead to confusion when grading the coins today.
Another important factor to consider when grading Wheat pennies is their toning. As with other copper coins, the interplay between color variations and luster is crucial to the overall evaluation of the coin’s condition.
Most collectors prefer specimens with red mint toning, as these are considered the most desirable. However, most Wheat pennies that have survived over time tend to be brown or multi-colored due to the natural aging process. While there is no strict rule for color classification, the following markings are commonly used to indicate the coin’s color:
- RD: Red – The most sought-after color, representing coins with a vibrant, bright red hue.
- RB: Red-Brown – Coins that have a mix of red and brown coloring, often seen in slightly worn or aged coins.
- BN: Brown – The least collectible of the three, these coins have a predominantly brown color, often due to heavy oxidation or wear.
How to Grade Wheat Pennies?
Most collectors aim for the most accurate grading possible for their coins. As a result, they typically rely on specialized companies and professional appraisers to ensure a precise evaluation. While professional services are often preferred, Sheldon’s scale can be helpful for those looking to perform a more approximate coin assessment on their own. It simplifies the grading process and provides a reliable framework for evaluating a coin’s condition.
1. About Good (AG)
These Lincoln pennies are heavily worn, with much of the design barely distinguishable. The wear on the inscriptions and date is so significant that they are nearly illegible. Some parts of the rim have merged with the lettering due to wear.
Obverse
Only the outline of Lincoln’s head is visible, as most of the portrait is flattened. The design details are no longer recognizable. While the inscriptions and minting date are still readable, they are faint and often blend into the rim.
Reverse
The reverse shows wear across the entire surface. It may be possible to discern faint traces of the wheat ears, but most of the grains are flat. The inscriptions are readable, though the wear on the letters is evident.
2. Good (G, G 4, and G 6)
Coins graded in this condition are notably worn, but the main design elements are still recognizable, even if only as outlines in some cases. The inscriptions and date are legible, though certain areas may be less visible. The rim is mostly intact.
Obverse
Lincoln’s bust is noticeably worn, with details on his portrait being weak, especially in areas like the cheek, jawline, and above the ear. However, some details remain visible on the top of his head and coat. The minting date and inscriptions are readable and distinct from the coin’s rim.
Reverse
The reverse design is mostly flattened, with the lines at the ends of the wheat stalks merged. Most of the wheat grains are indistinguishable. The letters in the inscriptions are still recognizable, but they are faint and worn.
3. Very Good (VG, VG 8, and VG 10)
Wheat cents graded at this level show noticeable wear, but the design is still identifiable. While the main features are defined, finer details are largely missing.
Obverse
Although much of Lincoln’s portrait is smooth, you can still make out the outline of his hair, jaw, and cheek. Some details of the ear and bow tie are also recognizable. The inscriptions and date remain legible.
Reverse
The wheat stalks show more details in coins of this grade. Many wheat grains are distinguishable, and almost half of the lines at the tops of the stalks are visible. The inscriptions are readable, and the letters appear clear and defined.
4. Fine (F, F 12, and F 15)
Pennies in the Fine grade exhibit moderate wear across both sides of the coin. The main design elements are still clear, and the inscriptions and date are bold and fully legible.
Obverse
Many details of Lincoln’s hair are visible right away. Wear is mainly noticeable on the highest points, but most of the hair curls are still clear. His jaw and cheek are smooth, yet well-defined.
Reverse
The separation of most of the upper lines on the wheat stalks is noticeable, though some wear is evident. The wheat grains can be distinguished, though they appear mostly flat. The inscriptions are easy to read.
5. Very Fine (VF, VF 20, VF 25, VF 30, and VF 35)
Wheat pennies graded at this level show all the main design features with only slight wear on the highest points of the relief, resulting in a gentle flatness.
Obverse
There is light wear across most of the portrait, but nearly all the details of Lincoln’s face and hair are visible. The bow tie and his ear are clearly defined.
Reverse
The lines of the wheat stalks on the reverse are well-defined, although slight wear is still noticeable. The wheat grains are easily distinguishable, though they may appear partially flat.
6. Extra Fine (EF 40 and EF 45)
Coins in this grade have only experienced a brief period of circulation. The wear begins to appear at the highest points of the design, but most of the finer details remain intact.
The original copper luster starts to fade, and the red toning transitions to brown. Some traces of mint luster may still be visible in limited areas.
Obverse
In this grade, Lincoln’s hair is well-defined with most of the small details visible. You can clearly distinguish the line separating his cheek and jaw, the edges of his coat, and the bow tie knot. Light wear is evident on the hair above the ear and on the cheek and jaw.
Reverse
The parallel lines at the ends of the wheat ears are clearly separated. Wheat grains inside the stalks are visible with no merging, and the inscriptions are sharp and readable.
7. About Uncirculated (AU 50, AU 55, and AU 58)
Wheat pennies graded at this level exhibit minimal signs of wear, mostly on the highest points of the design. These coins are well-preserved and retain nearly full mint luster.
Obverse
All the design details are crisp and clear, with very light wear visible on the highest points of Lincoln’s face, such as the jaw and cheek. There are no smooth or flat areas, and the overall detail remains sharp.
Reverse
On the reverse, slight wear marks are visible on the top of the wheat ears. However, all the lines and wheat grains are clearly distinguishable, with no noticeable flatness in the design. The overall details remain sharp and well-defined.
8. Mint State (from MS 60 to MS 70)
Wheat pennies in the highest grades are in pristine condition and represent the best quality. Since they are uncirculated coins, they retain their original mint luster.
While finding Wheat pennies in the mint state is relatively common, achieving grades higher than MS 67 is rare due to contact marks and scratches that occur from prolonged contact with canvas bags.
Summary
Grading Wheat pennies is not an exact science, as it relies on established guidelines, but subjective interpretations can lead to minor disagreements among collectors. This variability in assessment, especially for rare and valuable coins, is why it’s advisable to consult professional appraisers when evaluating such specimens.
