1923 Penny Value – The Lincoln penny has been in circulation for almost a century and a half. Despite this, the coin has seen various design changes throughout the years. Little differences from what you would see on a penny produced today can be seen on the 1923 Lincoln penny, for example. Collectors everywhere are attracted to the differences in the 1923 Lincoln penny.
The obverse side, however, dates from 1923, and it resembles the contemporary penny in design. The picture of Abraham Lincoln, facing rightward, appears in the center section of the obverse. A raised inscription indicating the year of minting will be directly in front of his vision. On the other side, there is a modest inscription that says, “Liberty,” and the words “In God We Trust” is arching above.
On the coin’s reverse, the “One Cent” face value and the phrase “United States of America” arch across the top, dominating the center section. A stalk of wheat dominates both sides of the coin’s reverse.
Wheat pennies were produced in 1923 by the United States Mint, with no mint mark. On the obverse side of the coin beneath the date, there is a mint mark if it is present.
1923 Lincoln Penny Types
In 1923, two different types of wheat cents were released: Philadelphia and San Francisco. It’s a little difficult to track down. Gold manufacturing at the Denver mint drowned out the normal circulation of cents. It spent the year preparing and refining gold and silver, then striking it into double eagles and silver dollars. It usually contributed millions of pennies.
1923 Wheat Penny With No Mint Mark
In good condition, the 1923 wheat penny with no mint mark is worth around $0.40. The value is roughly $1 in excellent condition. The value is roughly $5 in exceptional circumstances. Coins with an MS 60 grade are currently selling for roughly $15 in uncirculated conditions. Uncirculated coins with an MS 63 grade might go for about $30 each.
1923 S Lincoln Wheat Penny Value
1923 S Lincoln Cent Wheat Penny Value is determined by the coin’s color: red, brown, or brown (the images below show examples of each).
A typical worth of $5.00 each in G4 (Good) is an example. All other grade values will be in between those two, with an MS63 Brown (Mint State) being worth $310. Brown coins have a value of $1.00, but red/brown or red coins will be worth more. PCGS or NGC grading firms will also have to grade important examples.
Except for 1943, Lincoln Wheat Cents were coined from 1909 to 1958 and are commonly referred to as pennies. Steel planchets were used to strike them in 1943. Copper is a common name for the alloy, although the make-up is technically bronze (see specifications below).
1923 Lincoln Penny Grading
One aspect of determining value is the grade of a collectible coin. A coin’s condition is classified as good, fair, or poor by collectors. Grades ranging from Good to Uncirculated are listed on the value chart. The grade of wheat cents is shown in the following images.
The preservation of condition is a cause for concern. The importance of keeping value is dependent on proper storage in a dry place. If exposed to humid air, copper becomes susceptible to becoming a deep brown color. These old pennies are well-protected from the environment thanks to a container with a tight lid.
Uncirculated Grade Condition: An uncirculated – mint state wheat cent has a full coverage of mint luster across the entire surface of the coin, which is used to identify an uncirculated grade. Luster is the metal’s striking process, which leaves a delicate texture on it. The gloss and brilliance from the highest design sections are diminished when handling a coin.
A very high-profile line indicating a lapel is discovered in Lincoln’s coat. The shirt, prone to wear, is separated by a fold in the lapel. From the collar downward, evaluate the luster on the upper margins of the lapel.
Wheat cents in mint condition are a prize for collectors. The importance of eyesight cannot be emphasized enough. The bright surfaces and even light toning of the 1923 Lincoln cent design are outstanding.
Good Condition: This coin has seen considerable circulation for years, with scratch marks on its surface as a result. Even on the President’s hair, you can see deep scratches and a smooth appearance, without fine details. This coin is considered a collectible as long as the date and letters in the inscriptions are visible.
Fine Grade Condition: In Fine grade, heavy wear can be seen in the center sections of a wheat cent. The outside edges are usually somewhat worn, with major features remaining. Although a lapel can be seen starting at the bowtie and extending downward, Lincoln’s coat has been flattened from wear. The lapel line at the coat and shirt is separated by contours of high and low, with a tiny depression in between.
The wheat penny provides a good illustration of positive eye appeal. There are no huge symbols, and the legends and dates remain intact.
Extremely Fine Grade Condition: After joining circulation, the wear on high-profile surfaces of wheat pennies begins to flatten. In the Extremely Fine grades, moderate levels of wear define a coin. A lapel with an edge over the coat and a fold separating the shirt is part of Lincoln’s coat. In the extremely fine grade, both of these features are high relief and exhibit a moderate degree of wear. The lapel and shirt must be separated by a full, obvious line.
Wheat cents that have only been lightly circulated are collectible. Further examples with bold elements and many small details are added to the value. Major contours are still visible, and distinct waves of hair are still defined in the example. Fine details are highlighted by a pleasant brown toning.
1923 Lincoln Penny Errors
Many 1923 Lincoln pennies have flaws that greatly diminish their worth. The following are the most intriguing:
Discolored 1923 Lincoln Penny
Copper produces three penny variants based on its surface shade when it comes into contact with oxygen. Original luster red coins, red-brown pieces, and the worst brown ones may all be found.
As a broad dark shade band appears on the coin reverse, you’ll initially notice uneven toning. The coin’s value would be drastically decreased as a result of this.
For example, the red-brown piece is worth roughly twice or three times as much as the 1923 RD Lincoln penny.
The 1923 Lincoln Penny With The Missing Date Or Letters In Inscriptions
Depending on which piece fails, these coins will be worth variously. In higher grades, excessively worn specimens without visible lettering will cost less than regular ones. The filthy, frequently greasy dies caused certain letters to be missing from the pennies they produced.
These days, a similar piece costs $50 to $150. At least $500 can be made using pennies pressed less than usual.
You can also find pennies with often errors, like:
- You should pay at least $15 for the 1923 Lincoln penny with a BIE error in the word LIBERTY
- The 1923 off-center Lincoln penny is typically worth $10 to $50
- The rare 1923 doubled die Lincoln penny with a doubled President’s eyelid can cost $25 to $100
- The 1923 Lincoln penny with die cracks costs $3
How Much Are 1923 Wheat Penny Errors Worth?
The specific error and the individual coin itself influence the answer to this question.
Typical 1923 Error Pennies And Their Values
Here are values for the 1923 error pennies you’re most likely to come across:
- A 1923 off-center Lincoln cent — $10 to $50+
- 1923 pennies with die cracks — $3+
- The 1923 wheat penny with “BIE” error in “LIBERTY” — $15+
1923 Doubled Die Penny Error Value
A 1923 Lincoln cent with a doubled die is at least one of the known varieties. Lincoln’s eyelid is doubled on the 1923 doubling of the penny. Since these doubled die error coins don’t trade often, market data is scarce; however, similarly doubled die pennies are worth anywhere between $25 and $100… or more.
1923 Penny Error With Missing Letters
So, as you’ve undoubtedly determined by now, a 1923 wheat penny with no mintmark was produced at the Philadelphia Mint. What if part of an inscription or date is missing on a 1923 penny? The following are the estimated values of Lincoln cents with missing letters in 1923:
A penny with missing letters isn’t worth much at all if the lettering has been worn away completely.
That 1923 penny with missing letters is worth a lot more if the penny was struck by a die with grease, or if something happened to the die while it was striking the coin.
A die-adjustment strike (which struck the coin with less pressure than usual) might be worth up to $500, whereas a grease-filled mistake may be worth up to $150.
To ensure you have a genuine mistake coin rather than one that has post-mint damage, it’s best to have the currency assessed in person by a certified numismatic specialist (such as a coin dealer).
What’s The Most Valuable 1923 Penny?
How much did the most valuable 1923 wheat penny sell for? Because it almost certainly costs more than your car, hang on to your hat! In 2018, a 1923-S penny was auctioned for $66,000 after being graded MS-65 Red by Professional Coin Grading Service and certified by the Certified Acceptance Corporation. That’s a lot of money, isn’t it?
Is a 1923 Wheat Penny Rare?
Because so many of these coins were circulated heavily, finding a 1923 Lincoln is rare. Lincoln pennies that have not been completely damaged while in circulation are assigned to the Fine grade.
Looking for More Information About Coins? Check Other Years From This Lincoln ( Wheat ) Penny Series:
What Happened to The Lincoln Wheat Penny In 1923?
Lincoln Wheat Penny coin production increased significantly in 1923, and mintage figures more than eleven folded from the number of Lincoln Cents released in 1922. Lincoln Cents were still only produced in two places (Philadelphia and San Francisco), and Minting numbers were still far lower than they had been previously.
Among the most popular American coins ever minted is the 1923 Lincoln penny, which is a century old. Despite the fact that several specimens are uncommon or include well-known faults, those minted in this year are neither uncommon nor highly valuable. Many collectors, on the other hand, value an item like this because of its historical significance.