1919 Lincoln Wheat Penny Value
1919 Lincoln Wheat Penny Value
Complete collector's guide to 1919 wheat penny values, mint marks, and grading factors
Depending on the mint mark, the 1919 Lincoln Wheat cent is worth between $2 and $10 in most circulated grades. Mint state examples can trade from $30 to $100 and higher, especially if the coin comes from one of the branch mints in Denver and San Francisco.
The 1919 Lincoln Wheat penny is highly sought-after by collectors, especially pennies that are in mint condition. Understanding the key factors that determine value helps collectors make informed purchasing decisions.
Table of Contents
1919 Wheat Penny Value Overview
The value of a 1919 penny is determined by three main factors: the mintage population, mint mark, and condition of the coin. To appraise a coin properly, several key areas must be evaluated including mint population, condition, coloration, imperfections, and production errors.
| Mint Mark | Circulated (Good-Fine) | Very Fine | Extremely Fine | Mint State |
|---|---|---|---|---|
| 1919 (Philadelphia) | $2 - $3 | $4 - $6 | $8 - $12 | $30 - $60 |
| 1919-D (Denver) | $5 - $8 | $12 - $18 | $25 - $40 | $80 - $150+ |
| 1919-S (San Francisco) | $4 - $6 | $10 - $15 | $20 - $30 | $60 - $120+ |
Value Range Note
Prices shown represent typical market values and can vary based on specific coin condition, market demand, and dealer premiums. Exceptional examples or those with special characteristics may command significantly higher prices.
Key Value Factors
Several critical factors influence the value of 1919 wheat pennies, from basic rarity considerations to subtle condition details that can dramatically affect market price.
Mintage and Rarity
- Philadelphia: Highest mintage, most common
- San Francisco: Moderate mintage, higher value
- Denver: Lowest mintage, most expensive
- Survival rates affect current availability
Physical Condition
- Wear patterns from circulation
- Surface preservation and luster
- Presence of nicks, scratches, or damage
- Strike quality and detail sharpness
Color Classification
- Brown (BN): Most common, lowest value
- Red-Brown (RB): Intermediate value
- Red (RD): Rarest, highest premiums
- Original mint luster significantly affects value
Production Errors
- Double strikes or doubled dies
- Off-center strikes
- Planchet errors
- Die cracks or clashes
In terms of coloration, the Wheat penny series varies in value based on whether the metal appears brown, brown/red, or red. Brown pennies tend to lack their original mint luster, and red pennies are usually bright and lustrous.
Error Coin Potential
Production errors that occurred at the mint are much less common and therefore deemed extremely valuable. Manufacturing errors can range from double lettering to misaligned strikes to melted edges due to machinery mistakes. These errors can significantly increase a coin's value beyond standard pricing guides.
Mint Mark Analysis
Mint populations are found using the small letter, or mint mark, found beneath the date on the penny to determine which mint it came from. For example, a small "S" underneath the year represents San Francisco for the mint location. (Coins struck in Philadelphia bear no mint mark.)
1919 Philadelphia (No Mint Mark)
Mintage: 392,021,000
Characteristics: Most abundant variety with highest production numbers. These coins are considered common in terms of rarity.
Value Range: $2 - $60 depending on condition
Availability: Readily available in all grades
1919-D Denver
Mintage: 57,154,000
Characteristics: Lowest mintage of the three varieties, making it the most valuable and sought-after.
Value Range: $5 - $150+ depending on condition
Availability: Much scarcer than Philadelphia, premium pricing
1919-S San Francisco
Mintage: 139,760,000
Characteristics: Intermediate mintage between Philadelphia and Denver varieties.
Value Range: $4 - $120+ depending on condition
Availability: More available than Denver, less than Philadelphia
In 1919, the Philadelphia Mint issued the highest number of cents. Wheat pennies from Philadelphia are the most common. San Francisco pennies are second in availability and command a higher value. Denver is the most rare and expensive in terms of mint population.
Rarity Assessment
Compared to Philadelphia, finding coins minted in San Francisco and Denver can be challenging, and thus they are considerably more expensive. The mint location indicates how many of the coins were made to determine their level of scarcity.
Condition and Grading Factors
Imperfections on a coin such as nicks, scratches, dents, excessive wear, bent edges, and more can downgrade the value of the coin. For example, if the physical condition of the coin appears worn, eroded, or scratched by natural causes outside of production, then the price would be lower.
Circulated Grades
- Good (G-4): Heavy wear, readable date
- Very Good (VG-8): Moderate wear, clear details
- Fine (F-12): Light wear, most details visible
- Very Fine (VF-20): Minor wear, sharp details
- Extremely Fine (XF-40): Slight wear, excellent detail
Mint State Grades
- MS-60: Uncirculated with noticeable marks
- MS-63: Select uncirculated, fewer marks
- MS-65: Gem uncirculated, exceptional quality
- MS-67+: Superb specimens, premium pricing
The value of the penny depends on the mint mark and preservation level. Oftentimes, coins that have survived over a century tend to remain in circulation and are typically lower value. Taking all of these factors into consideration is key to navigating from a collector's and investor's viewpoint.
Grading Importance
Professional grading can significantly impact value, especially for higher-grade specimens. Consider third-party grading services for valuable examples, as certification provides authenticity guarantees and consistent grading standards that facilitate buying and selling.
For collectors interested in building broader numismatic portfolios, understanding grading principles applies beyond wheat pennies to other collectible areas, including precious metals investments like gold coins and silver coins where condition similarly affects value.
Historical Context
The Lincoln Wheat cent series was first introduced in 1909 and remained in circulation until 1958. In 1909, President Theodore Roosevelt wanted to mint a coin with Lincoln's profile. The penny displayed Lincoln's profile on the obverse to honor the President's 100th birthday.
Design Origins
Before 1909, American cents—indeed, all American coins—had never depicted a real person before. Despite initial opposition from traditionalists, the design was executed by Victor David Brenner, an engraver and sculptor.
His design was originally criticized for placing his initials "VDB" prominently on the coins. The US Mint changed this and had them removed.
1919 Specific Context
By 1919, the VDB controversy had been resolved. The initials were restored in 1918 and can be found on coins minted in 1919, positioned discretely on Lincoln's shoulder.
The 1919 penny represents a mature period in the Lincoln cent series, with established production processes and consistent quality.
The reverse design was eventually revamped during President Dwight D. Eisenhower's term. It added the Lincoln Memorial building in honor of the 150th anniversary of Lincoln's birth, but this change occurred in 1959, well after the 1919 wheat penny era.
Historical Significance
The 1919 wheat penny captures an important moment in American coinage history, representing both the established Lincoln cent design and the post-World War I economic period. This historical context adds to the coin's appeal for collectors interested in American numismatic heritage.
Physical Features and Specifications
The 1919 Lincoln penny features the 16th American president prominently positioned on the obverse, with his bust facing towards the right and the date "1919" below to the right.
Obverse Design
- Lincoln's bust facing right
- "IN GOD WE TRUST" on top rim
- "LIBERTY" to the left of bust
- Date "1919" below right
- Mint mark (D or S) below date
- "VDB" initials on shoulder
Reverse Design
- "ONE CENT" prominently displayed
- "UNITED STATES OF AMERICA" inscription
- Two wheat stalks flanking text
- E PLURIBUS UNUM at top
- Clean, uncluttered design
The reverse side contains the words "ONE CENT" and "UNITED STATES OF AMERICA" surrounded by two wheat stalks. (Hence the name Wheat penny, sometimes nicknamed "wheat backs" or "wheaties.") Eventually, in 1958, these inscriptions were replaced with an engraving of the Lincoln Memorial.
The design is uncluttered and includes a small letter "S" or "D" below the date to indicate coins minted in San Francisco or Denver, respectively. The designer's initials, "VDB," can be found hidden along the bust's shoulder.
Collecting Considerations
When building a wheat penny collection or focusing specifically on 1919 varieties, several factors can help maximize both enjoyment and potential investment returns.
Building a 1919 Set
- Start with the common Philadelphia variety
- Upgrade to better condition examples over time
- Add San Francisco and Denver mint marks
- Consider both circulated and mint state examples
- Focus on eye appeal and original surfaces
Investment Perspective
- Denver mint marks offer highest appreciation potential
- Red and Red-Brown mint state coins command premiums
- Professional grading adds liquidity for valuable examples
- Error varieties can provide exceptional returns
- Market demand remains strong for quality specimens
Understanding market dynamics for collectible coins provides valuable experience that translates to other areas of numismatic and precious metals investing. Collectors often diversify beyond wheat pennies into areas like precious metals, where tracking current gold prices and silver market trends becomes important for informed purchasing decisions.
Market Timing
The wheat penny market has shown consistent collector interest over decades. While not subject to precious metals price fluctuations, these coins benefit from steady demand and limited supply, particularly for higher-grade examples from branch mints.
Authentication Tips
- Verify mint mark authenticity
- Check for added or altered dates
- Examine strike characteristics
- Confirm proper weight and dimensions
- Look for appropriate patina and wear patterns
Storage and Preservation
- Use archival-quality holders
- Avoid cleaning or harsh chemicals
- Store in stable temperature/humidity conditions
- Handle by edges only
- Document and photograph your collection
Long-term Outlook
The 1919 Lincoln wheat penny represents an excellent entry point into American numismatics, offering reasonable entry costs with potential for appreciation. As with any collectible investment, focus on quality, authenticity, and proper preservation to maximize both enjoyment and long-term value.