1918 Penny Value – During 1918, San Francisco’s official mintage struck a minted wheat penny of Lincoln pennies, with a total amount of 34.680.000, along with the S minted mark. This penny has a face value of one penny, or $0.01, however, the worth is much more worth behind its initial face value. The typical 1918 penny value is around $0.6 and $35 if it is in circulated condition, however, the price will jump high.
Before knowing the 1918 penny value today, first, we need to take a look at the history behind this penny, why some of them might be worth a lot of money, and basically how to find the 1918 wheat penny.
The 1918 wheat penny, also known as Lincoln wheat pennies, is a series of pennies that first appeared in 1909. It was minted to replace the older Indian head penny, as the commercial penny changed.
This penny specifies that it has a bust of U.S president, Abraham Lincoln, with the motto of “IN GOD WE TRUST” on top of him, “LIBERTY” on the side, and the date of minting.
On the other facet of the coin, we can see the “ONE CENT” mark, along with the typical ears of wheat on each side.
It is made from a combination of copper and tin, both of which are valuable metals ( for more please check the article about most valuable foreign coins ).
The composition of this coin is 95% copper, with the rest being tin and zinc. These specimens are minted in San Francisco in 1918, and also in Denver mintage.
It has a lot of other specimens, with 1918 wheat penny no mint mark specimens, 1918 penny no mint mark, 1918 s penny, along with 1918 d penny.
First, let’s take a look at the composition, and specifications of this 1918 Lincoln wheat ear penny shall we?
1918 Lincoln Wheat Penny Specifications:
Here are the initial specifications for the 1918 Lincoln wheat penny
- Initial face value: $0.01 or 1 cent
- Composition: 95% Copper, 5% Tin and Zinc
- Weight: 3.11 g or 0.109 ounces
- Diameter: 19 mm or 0.75 inch
- Thickness: 0.05 inches or 1.5 mm
- Shape: round
- Edge design: Plain
The coin itself is pretty unique because you can see the initials of the designers at the bottom rim of the coin. This is one reason that increases the 1918 penny value, but several other reasons might increase the grading of the 1918 penny value.
The original penny of this series in 1909 had this unique design of the designer’s initials but was later removed from the public, because it is too prominent, and US official mintage has removed the controversial letters of the designer’s initials in the same year.
However, in 1918, the initials reappear, now in more discreet locations, right under the shoulder of Lincoln’s bust.
These discreet initials normally disappear once the penny has been older, and spent its time in circulation, has it is very rare to have a mint that still has these special discreet initials. However, nowadays, this won’t change much in the 1918 penny value.
So, to answer the question of how much is a 1918 penny worth we need to understand the wheat penny types.
Each of these types has a different value, and worth, as well as different grading. You would need to understand each of these types if you want to know more about the 1918 penny and know which pennies are worth your money or not.
Type Of 1918 Lincoln Wheat Penny
Generally, there are three types of Lincoln wheat penny, the S wheat penny, the d wheat penny, and the 1918 Lincoln penny.
Each of them is different because they are minted in different states, and circulated in quite different markets of course. There is also a difference in the number of coins that have been circulated and produced.
Based on its type, each of the 1918 wheat penny values could be different, depending on rarities, oddities, as well as value.
To understand more about how it was graded, and what types of the wheat penny you should keep or you should buy, here is the type of the 1918 Lincoln Wheat penny dollar.
1918 Lincoln Wheat Penny: No Mint Mark
The first specimen is the 1918 Lincoln wheat penny, minted in Philadelphia with a total amount of 288.104.635 pennies in the year of 1918.
The abundance of this number makes it such a common series of coins and makes the 1918 penny value very cheap.
With the good quality of the 1918 Lincoln penny value from $0.2, to the fine grade of $3, this is one of the most common series of this penny.
1918 S Wheat Penny
The 1918 s penny is minted in San Francisco with a precise amount of 34.690.000 in production and circulation. This typical penny has an S minted mark on it that differentiates it from other types.
The 1918 s wheat penny value is worth around $0.6 for a good grade, and a fine grade could be worth around $35. However, the special MS 63 grade could be worth more than $205.
The quality grade is at least on the very fine grade that could be worth around $56, and beyond that, there are also finer grades of rare MS60 to MS65. MS65 could be worth more than $200 to even reach $900 in auctions. This is due to the grade MS65 being a scarce grade that could be valued due to its significant rarities.
1918 D Wheat Penny
D wheat penny is minted in 1918, in Denver states. It is one of the most common grades of the series, and it is produced for around 48.830.000 pieces of D wheat coin. It is very common, and you can easily bring this type of coin for around $0.8 for a good grade, and $40.
Even though the D wheat is very common, there are quite good values of the 1918 d penny. Some of the 1918 d wheat penny value could be higher than it looks, especially some of the uncirculated specimens.
It could be worth more than $100 to $150, and even the most expensive D wheat penny value that has been sold in auctions is MS 67.
The most expensive wheat penny are the specimens of MS 67 D red Lincoln penny that are worth around $60.000.
Notable 1918 Wheat Penny Error List: You Should Keep An Eye On
One thing that can affect the value of antique coins such as the 1918 Lincoln wheat penny is an error. Error pennies are pennies specimens that contain some errors, like a pre-punched mint mark, cracked mint mark, and so on.
These errors are slight in the mintage, usually caused by environmental damage, or damage while in circulations, however very rarely known, are the mintage errors for the penny.
The 1918 penny value normally would be worth around $0.6 to $2, for good grades. And $27 to $95 for a finer grade, however, if you have an error penny, the 1918 penny value could inflate so much more, due to the rarities in the error itself.
Finding an error penny is quite hard, and even the chances of finding an error penny that is worth more are very small.
However, if you are extra lucky, and able to find certain error pennies, then you should know that some of them can be sold at a quite high value, even increasing the value of the usual 1918 penny to 10 or even 20 times more.
To make sure you know which error penny is worth your time, here are a few notable wheat penny errors you should take note
Off-Center Wheat Penny
It is one of the appreciated rare coins since it has a significant off-center error mintage. The off-center error happens when the mintage is punching the mark off-center, making them have an off-center balance in the coin.
To this day, there are at least 5 to 10 percent off-center coins that are mostly worth around 10 bucks to 20 bucks. However, some 50% of off-center errors can cost more than a hundred dollars.
Die To Crack Penny
A die crack penny is a penny that has small bumps on the surface, this sometimes results in having more weight, more metal composition, and overall more worth than the usual penny.
These changes oftentimes result from damage, environmental exposure, gouges, and cracks on the die.
The die crack penny, is worth around $3 to $5 apiece; however significant cracks might improve the price by up to $10 to $20.
Die Cud Penny
It is similar to a die crack penny when bumps appear on the penny, but now instead of the coin surface, it is on the rim of each coin, For this error, it is often worth around $50 to $100 which is quite a hefty amount of money.
Re-Punched Mint Mark
Mintage might sometimes punch on the die, stamped with the mint mark twice, this is called re-punched mint mark. Some coin collectors will pay around $5 to $20, and if the error is quite significant, might result in more value than usual.
No Mint Mark Wheat Penny
There is also a 1918 wheat penny with no mint mark value that could be inflated due to the errors. No mint mark error is when the mintage didn’t stamp the mint mark properly, and faded out due to the damage, and environmental exposure. These error coins could be worth around $5 to $15.
Frequently Asked Questions Regarding About 1918 Lincoln Wheat Penny
What is a 1918 Penny Worth
Typically, the most common 1918 penny would cost you around $0.6 to $3. However, the price could differ depending on the grade of quality, types of pennies (It can be 1918, 1918 S, or the 1918 D), and also some error pennies.
The 1918 penny value can be worth more if there are significant types of quality, rare grade, and also has rare errors that many collectors appreciate.
How Much is a 1918 Wheat Penny Worth
The 1918 penny value can be quite fluctuated based on the grading, quality, rarities, and the type of pennies themselves.
It is best to get to know the rarities and the worth of each penny before deciding to purchase, or collect a certain 1918 wheat Lincoln pennies.
Sometimes, the standard price for an old 1918 penny could fluctuate due to the increasing price of precious metal inside of each penny.
The 1918 penny contains Copper and Zinc, a precious metal that weighs its value more than a penny or $0.01 nowadays.
With the increase in precious metal price, the worth of the old undiluted, unclipped, and uncirculated 1918 Lincoln penny could inflate.
Looking for More Information About Coins? Check Other Years From This Lincoln ( Wheat ) Penny Series:
1909 1910 1911 1912
1913 1914 1915 1916
1917 1918 1919 1920
1921 1922 1923 1924
1925 1926 1927 1928
1929 1930 1931 1932
1933 1934 1935 1936
1937 1938 1939 1940
1941 1942 1943 1944
1945 1946 1947 1948
1949 1950 1951 1952
1953 1954 1955 1956
For further information, you can contact your local coin grading service to know the standard price of the 1918 Lincoln penny, and know its value of its today. If you have a 1918 Lincoln penny you want to try selling, you can also grade them in coin grading to see its value, and get to know its price.
Is a 1918 Penny Worth Anything?
Typically, not every 1918 Lincoln penny could be worth anything; some would just get you around $0.6 at max, while others might get you a few bucks. It is true, that some rare specimens of 1918 could reach for around hundreds of dollars, but finding them is incredibly rare, and you need to trade them with several coin collectors.
Is a 1918 wheat penny worth anything? That depends on the grade, quality, and the rarities the 1918 coin might bring. If you have rare wheat pennies, then the price could go up from around $10 to $20.
To this day, the most expensive 1918 Lincoln penny that has been auctioned off is the MS 67 Special grade, Red Lincoln wheat penny of 1918, with the top price of $60.000, auctioned in 2016.
So in conclusion, don’t just throw off your 1918 penny yet, some of 1918 might have more intrinsic value than you might think. If you are unsure if your 1918 penny value could be worthy of your time, then you can try grading it in your nearest coin grading service. You can also try your luck in coin hunting, and try to hunt rarer error pennies.