1928 Penny Value – The Lincoln penny has a face value of $1.00 today, which is practically insignificant. Despite this, the 1928 Lincoln pennies have a collectors market value much greater than their face value. The coin’s age, state of preservation, and historical significance are all contributing factors. It’s simple to see why 1928 Lincoln pennies are a must-have for virtually every collector after you account for these factors.
The profile picture of former President Abraham Lincoln can be seen on the obverse side of the 1928 Lincoln.
His picture is enlarged from the coin’s surface, appearing in great detail. A raised inscription reading “Liberty” is seen on the President’s left, and a 1928 year of minting is seen on his right. A raised inscription will read “In God We Trust,” arching overtop.
A raised inscription indicating the coin’s “One Cent” face value dominates the coin’s reverse in the center.
Two stalks of wheat, one on each side, will also be seen in the center, along with a message that says “United States of America.” The Latin and classically American phrase “E Pluribus Unum” arches above the top outer edge of these wheat stalks, giving the Lincoln penny its moniker “Wheat Penny.”
1928 Penny Value: Types
The relatively plentiful availability of one-cent coins from 1928 reflects the fact that it is a common year among Lincoln Wheat Penny coins.
There were tens of millions of 1928 Pennies struck across the board at all three mints in operation in 1927 (Philadelphia, Denver, and San Francisco).
134,116,000 Lincoln Pennies were produced at the Philadelphia Mint (no mint mark), 31,170,000 at the Denver Mint (mint mark: D), and 17,266,000 at the San Francisco Mint (mint mark: S) in 1928.
1928 Penny No Mint Mark Value
In 1928, the Philadelphia cent was ranked as follows on a rarity scale: Abundant. As a result of their use in commerce, the initial huge supply has decreased over time. The wheat series’ popularity keeps this early period (1909 to 1933) pennies in high demand.
The most important factor in determining value is the condition. If Lincoln’s picture is highly detailed, it becomes above average. A good coin is indicated by hair that is clearly separated from the forehead.
Lastly, there are 1928 pennies that have never been circulated as money. They are rather uncommon in comparison to other species.
An uncirculated 1928 wheat penny has a value of $10 to $25. Many, however, are more valuable.
Professional Coin Grading Service (PCGS) and Certified Acceptance Corporation (CAC) both approved this 1928 uncirculated penny, which was graded MS-67+ Red by them and sold for $9,000 in 2019.
1928 D Penny Value
The majority of Denver 1928 cents stayed in circulation for a long period of time. Those encountered today are generally heavy users. These coins are still coveted by collectors, but only in superbly detailed specimens. Young and beginning collectors value the basic value of circulated coins, which is an inexpensive option.
If the wheat stalks show grains inside the stalks and fine separated lines towards the ends, your coin has an above-average condition. Inspect the reverse of your coin. The value of higher-grade coins increases swiftly. Note the difference between fine and extremely fine grades on the chart.
Lastly, there are uncirculated examples. These are difficult to come by — you’ll need to comb through an antique coin collection or a coin dealer to find them. In circulation, you won’t find a 1928-D penny.
They’re worth between $40 and $100 each. In 2022, a PCGS-graded MS-66 RD penny sold for $12,600 at auction! How far “up” does that go?
1928 S Penny Value
In excellent condition, the 1928 S wheat penny is worth roughly $1. The value is about $3.75 in excellent condition. The value is roughly $10 in excellent condition.
For coins rated MS 60, the value is roughly $100 in uncirculated conditions. Uncirculated coins grading MS 63 might cost $125 or more.
An MS-66 RD coin certified by PCGS and auctioned in 2020 for $45,600 is the most valuable 1928-S penny ever produced.
1928 Wheat Penny Error List
The pennies that weren’t manufactured properly are among the most valuable 1928 wheat pennies! Error coins are the term for these.
Several of them are priced at a few dollars. Some are worth a lot of money. What year’s penny should you be looking for? The most common 1928 wheat penny mistakes are listed below…
1928 Pennies with Doubled Die Errors
Doubled dies are something that you may have heard about. A coin struck by a hub that was imprinted twice at slightly different angles is known as a doubled die.
Minor variations on doubled dies Others are more dramatic, to say the least. The renowned 1955 doubled die penny, for example, is not worth the big bucks. The majority of doubled dies are rather small, and they aren’t particularly intriguing. Several of them, on the other hand, is worth a lot of money!
Several doubled dies pennies from 1928 exist in varying degrees of rarity. The date is shown to have a minor doubling. Others depict Lincoln’s eyelid doubling. The wheat stalks and the inscription E PLURIBUS UNUM on some 1928-D pennies show doubling on the reverse (tails side).
Similar pieces trade for between $5 and $20 when 1928 doubled die pennies don’t trade very often.
1928 Pennies with BIE Errors
On the obverse, there’s occasionally a little vertical line between the letters “B” and “E.” A die crack is to blame for this.
When an old or abused die begins to crack, it’s known as a die crack or die break. Cracks are prevalent in and around letters and other design components, especially near the edges. BIE pennies may be worth $10 to $20 depending on the variety.
1928 Pennies with No VDB Errors
The initials of Lincoln cent creator Victor David Brenner — who created the cent in 1909 — are visible on a lot of photos of Lincoln pennies that don’t display the letters “VDB.”
The VDB is supposed to appear just under Lincoln’s shoulder on 1928 pennies. Anyhow, the characters are tiny and thus difficult to read. Although the VDB initials are often obliterated by significant wear, this does not imply that they were included in error; rather, it suggests they were missing.
Grease could, however, get into the lettering on the die and make the initials strike-through incorrectly, resulting in a strikethrough mistake. An uncirculated penny or a coin with just minor wear would make this mistake more evident.
Minor strikethrough errors on 1928 pennies are common, however, collectors may pay $10 to $15 or more for coins like this because of their rarity.
1928 Pennies with Off-Center Errors
As a class, off-center error pennies are rather frequent. The rarer and more valuable they are, the more off-center they are.
Small off-center pennies (ones that are less than 5% off center) have little or no value over face value. The value, however, increases as the strike becomes 5% or more off center. If the strike is reasonably far off, they are even more precious if the date is still totally legible.
Off-center pennies with a 10% to 20% off-center discrepancy may bring $100 or more if they’re in such condition. It’s worth $250 for 50% or more off-center pieces.
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
Grading The 1928 Lincoln Penny
The condition of these coins is inconsistent since they were produced in 1928. As a result, collectors try to acquire coins that have been well-preserved over time. Even if a coin’s age is apparent, it is still highly coveted.
Most collector-worthy 1928 Lincoln pennies will be graded, regardless of their condition. The different grades are listed below, along with what they imply for the condition of a Lincoln penny.
– Uncirculated Grade: A coin with no wear to the surface is classified as an uncirculated grade. Collectors prize and seek out a 1928 penny value in this top-tier condition. To verify the grade, a check of all elevated locations is required.
Lincoln’s hair is elevated above the coin’s field from the beginning of the design. As a sequence of flat patches, any circulation wear tends to reveal over the hair waves. The metal acquires a lustrous appearance when it is minted with a smooth finish. This luster is quickly eliminated, and the brilliance is dulled.
Even color and absence of marks add to the appeal of a mint state coin when judging its aesthetics. A good example of an unblemished surface is one that is highly collectible.
– Very Fine: Lincoln’s jawbone and cheekbone are intact, but they’re still distinct. Wheat heads aren’t worn, which is unusual.
– Good Condition: The condition of Excellent is defined as extensive wear resulting in large patches of flatness. All contours of Lincoln’s face are worn smooth within the central region.
Lincoln’s hair is mostly flat at the top of his head. Just main features are separated in minor waves of hair that have merged.
The number of visible features that stand out on a coin as it gets heavily worn increases its worth. A plus is the fact that legends are separated from the edge. It’s necessary to include a bold date. For the grade, a strong technical rating with excellent eye appeal is combined.
– MS 60 Uncirculated: There are no signs of wear on MS 60 uncirculated. There may be a few stains, abrasions, or surface marks on the coin, but it has luster.
– MS 63: There are some blemishes or contact marks in the major focal areas, which make it uncirculated. The coin’s luster might be less visible.
For Mint State coins ranging in color from brown to red-brown to red, the 1928 Wheat Penny value ranges from $1,000 to $9,000. Since they are more sought after, full reds of the coin in higher grades will always command a higher price. The 1928 Wheat Penny is a reasonably priced coin in most grades compared to other Wheat Pennies in the series, despite the fact that prices rise in full reds.