1958 Penny Value – The Lincoln penny was minted for many years before being replaced by the Jefferson penny. Yet, as a consequence of this, there are numerous types of Lincoln pennies that have been manufactured throughout the years. The penny’s value is particularly high since the Wheat Penny design was last used in 1958.
Of course, these coins ( 1958 penny ) will only gain in value as they are no longer produced.
About The 1958 Lincoln Wheat Penny
The US Mint started shifting its production of Wheat Pennies about 1950 (1950 penny value), with the Mint producing the most.
Prior to 1950, Philadelphia produced the most pennies, with Denver producing a little more. Denver produced the majority of pennies after 1950, with Philadelphia producing a lesser quantity.
The 1958 Wheat Penny was minted 252,525,000 times, according to the Philadelphia Mint. The Mint would produce a Lincoln cent with the original wheat stalk reverse for the last time in 1958. This is only around a fourth of what was minted at the Denver facility. In 1959, the Mint plans to use a Lincoln Memorial motif as the reverse motif instead.
With it being one of the most recognized coins no longer in circulation, the Wheat Penny’s legacy lives on. The Wheat Penny is the most common form of collectible for most collectors, and it was the first coin that attracted many to coin collecting.
1958 Lincoln Penny Design
One of the most important figures in American history was honored with the design of the 1958 Lincoln penny. Victor D., the designer, is responsible. The coin obverse featured a former President Abraham Lincoln image, which Brenner created.
The motto IN GOD WE TRUST is etched along the coin edge, above Lincoln’s head. On Lincoln’s left, you’ll see the word LIBERTY, and on his right, you’ll see a date and mint mark.
Large lettering ONE CENT is centered on the coin reverse, which is simple. You may also see the inscription UNITED STATES OF AMERICA surrounded by two wheat stalks on both sides of the flag. On the top, a Latin phrase E PLURIBUS UNUM is usually found.
- Mintage: 3
- Year: 1958
- Type: Wheat Penny
- Minted at: Philadelphia (No Mint Mark)
- Designer – Engraver: Victor D Brenner
- Face Value: 0.01 USD
- Price: 15 cents-$5.00
- Metal Composition: 95% Copper – 5% Tin and Zinc
- Diameter: 19 mm
- Mass / Weight: 3.11 grams
1958 Lincoln Penny Types: Identify the Listing Of 1958 Penny
The 1958 Lincoln pennies made at several mints don’t vary much. The mint mark, which is positioned right beside the date, is the only thing that distinguishes them.
This year, two mints created Lincoln Pennies: Pennies produced in Philadelphia didn’t have a particular mint mark, whereas pennies made in Denver did.
In total, including proofs minted in Philadelphia, two mints produced 1,054,353,952 Lincoln wheat pennies this year.
1958 Lincoln Penny Without Mint Mark
The rarity scale for Philadelphia variety 1958 pennies is high. The “old” design cents were preserved from circulation the following year when the design was changed.
Many of them started a penny wheat collection. Mint State pieces are a must-have condition for collectors. Several are still bright as if they had just been minted. A 1958 penny with just slight signs of wear is typical.
1958 Proof Lincoln Penny
The Philadelphia mint also produced proof pennies in 1958, as it had done every year before. Unlike other coins with a mint finish, the design of 875,652 proofs took much longer. In addition, since the grainy top coat made several objects seem brand new, many of them lost their matte luster over time.
Lincoln pennies, like regular pennies, were struck in 1958. The standard coins, on the other hand, have a rotund flange while these have a flat rim.
One more Lincoln penny type exists than the common variety, and it is less common. Its matte finish and reflective surface set it apart from other pieces in terms of design and lettering.
The value of those matte-finished 1958 Lincoln cents is much higher than that of ordinary cents.
1958 D Lincoln Penny
The 1958 “D” mint variety wheat cents were struck for 800,953,000. Due to the end-of-design status, large supplies remain due to savings at the time. On the rarity scale, it’s rated as abundant.
Collectors are looking for a 1958-D penny in mint condition, with no wear to the surface. Both expert and beginning collections appreciate these high-condition coins because they are reasonably priced.
When assembling a circulated set, circulated coins with good detail on the reverse wheat stalks are in demand.
- The high price for Lincoln Cent (Wheat Reverse), 1958 Doubled Die Obverse MS in Auction Record by STACK’S BOWERS MS64RD sold for $336,000 in 2018.
- The high price for Lincoln Cent (Wheat Reverse), 1958 PR in Auction Record by Heritage Auctions PR68DC sold for $12,337 in 2017.
- The high price for Lincoln Cent (Wheat Reverse), 1958 MS in Auction Record by Heritage Auctions MS67RD sold for $9,000 in 2019.
- The high price for Lincoln Cent (Wheat Reverse), 1958-D MS in Auction Record by Heritage Auctions MS67+RD sold for $3,360 in 2019.
1958 Lincoln Penny Value Grading
The condition – grade of the coin is reflected in the value differences shown on the chart. The pictures and descriptions are used to determine and compare the degree of wear on the surface. Images and descriptions are used to identify collector quality.
The uncirculated sample photograph serves as a great example of the entire amount of original detail on a coin without any wear to the surface. Review it first.
– Uncirculated Grade: Mint State – Uncirculated pennies are sought after by many Lincoln cent collectors who want to put together a lovely display. A 1958 penny in high grade is a scarce and cost-effective collectible. Intact luster and no wear to the surface are important criteria for mint-state coins.
The example penny has a full coverage of luster and is classified as an uncirculated grade. Luster is a delicate, transparent layer that can be seen to detect wear.
These regions are prone to circulation contact, as well as his hair above the temple, so inspect Lincoln’s cheek and jawline first. Next, confirm the metal’s texture matches the surrounding areas by following the coat line down from the collar.
This 1958 wheat cent has been struck with detailed images of Lincoln and lettering. The luster is fully brilliant, matching the design’s appeal. Last year’s wheat penny is a visually appealing coin.
– Extremely Fine Grade: Little patches of flatness start to emerge on the full design after just a brief time in circulation. Extremely Fine is a grade indicated by moderate visible wear.
The top parts of the hair above and behind the temple are somewhat flattened. A little blended area above the ear separates waves of hair. At the highest points of the cheek and jaw, there is a noticeable smoothness, which extends from the collar to the shirt.
These parts, including the temple, cheek, jaw, and coat line, remain somewhat rounded with just a touch of flatness. This demonstrates the extremely fine degree.
With a detailed portrait of Lincoln remaining, lightly circulated wheat cents are affordable and sought by young and beginning collectors. The further appeal of this coin is a lack of distracting marks. Toning in shades of soft tans and browns is undisturbed.
– Evaluate Toning of 1958 Penny: Examining a collection of mint state pennies allows you to view the various hues and toning possibilities of the 1958 Penny. The depth of toning is determined by time and level of protection. Toning does not imply wear-metal removal. The toning judgment is used to calculate aesthetic value.
The brilliant luster 1958 cent is in the first position, with just a little toning. On the center, 1958 cent, look for a little color warming. On the high slopes and fields, moderate toning is starting to develop.
The far-right coin exhibits a predominantly brown color. Lincoln’s jawline and cheek are free of wear, as seen in all examples. The shirt’s original texture is still visible through his coat line.
Uncirculated cents with a variety of toning can be found in Mint State – uncirculated. Toned to bright wheat cents have a similar range of value. Collectors build individual preferences for toning as they debate whether or not to add a coin to a set. Pleasing, original, and brilliant luster is highly valued in broad terms.
Toning improves or detracts from the appearance at any time. The evenly distributed colors on the central coin are especially noteworthy. The value of an uncirculated wheat cent-toned brown is usually lower.
Wheat pennies in good to the heavy condition are available in large numbers. Many of the wheat designs from the 1950s have survived because they were removed from circulation. Wheat cents are based on circulated coins.
An average circulated coin shows wear flattening many of the bold features of Lincoln, having passed the acceptable stage of extremely fine. His hair is now linked to the temple. The cheek and jaw are covered by flat areas, for example. High-profile elements are noticeably missing.
A nice natural brown toning is seen on each of the coins, which is a big plus. Large marks also help to minimize market acceptance, as well as a lack of distractions.
See Also: 1951 Penny Value, 1953 Penny Value, 1910 Penny Value, 1912 Penny Value, 1920 Penny Value
1958 Doubled Die Lincoln Wheat Penny: Rare
The 1958 Doubled Die Error is one of Wheat Pennies’ most common and valuable mistakes. Just three specimens are known to exist, and just two have been certified by PCGS, a third-party grader.
On the obverse of the coin, doubling is quite apparent. The letters “IN GOD WE TRUST” and “LIBERTY” have significant doubling and overlap. As compared to the 1958 example, many doubled-die coins do not exhibit as much doubling.
The die that strikes the coin has doubled parts from the hub, resulting in a doubling of this kind. This doubling is usually moderate throughout most of the time, however, it is more pronounced in specific coins, such as the 1958 Wheat Penny.
The 1958 DDO Wheat Penny has been auctioned for extraordinary prices due to the rarity and severity of the mistake. An MS-64 example sold for $100,000 a few years ago! The MS-65 specimens are currently selling for an astounding $200,000.
Someone generally has a coin with a light strike or machine doubling, which is not the same as a doubled die, when they discover what seems to be a 1958 mistake penny.
Or, excessive wear of dies, die preparation mistakes, or other factors may result in die deterioration doubling, which is similar to a 1958 penny mistake.
How Much is a 1958 Penny Worth?
Uncirculated pieces are worth less than a penny. The MS-60 condition is worth $0.30, whereas the MS-65 condition is worth $8. MS-65 and MS-66 coins have a significant price difference, with MS-66 coins selling for $30.
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
Are All 1958 Pennies Valuable?
This popular American coin received a new design after 1958, the final year of minting for this penny. Since the entire circulation was over a billion coins this year, this coin is not particularly rare. While the 1958 penny value is modest, it is still a popular item among collectors, as with most other pennies.
Notes: ” The United States had its final race in 1958. The Wheat Cent would be released by Mint. The Lincoln Memorial would be shown on the reverse of the penny after 1958. This year, the San Francisco mint did not produce any wheat pennies. The mint in Philadelphia also produced 875 thousand proof pennies, which are worth roughly $8 apiece. They are only available in Denver and Philadelphia “.
At the auction, the finest 1958 Wheat Cent MS67+ and MS68 specimens have sold for $3,000 to $8,000. Finding a coin in such a condition is really close to impossible. Although error coins are worth much more, the 1958 Lincoln Cent is worth on average $1 to $4.50, whether from Denver or Philadelphia. In 1958, it was a pretty good year if you enjoy coin roll hunting and looking for mistakes.