The Lincoln penny was produced for a long period of time, and in many ways is still being produced today. The modern version of the penny does closely resemble the coin from 1922, however the 1922 variety is infinitely more desirable and valuable. Thanks to when it was minted, the design, and the fact that it is still around today, any 1922 Lincoln penny carries with it some inherent value that has nothing to do with its metal composition.
On the coin’s obverse you will notice the central part dominated by the image of Abraham Lincoln. To either side of the former president you will also notice inscriptions, one with the word “Liberty” and one of the 1922 year of minting. Across the top of the coin is an inscription which reads “In God We Trust.”
The 1922 Lincoln penny’s reverse will display both the “One Cent” face value as well as the words “United States of America” in the center. On either side of the reverse will be single wheat stalks. As you probably could have guessed, it is the wheat stalks which give the coin its “Wheat Penny’ moniker. Finally, the Latin phrase “E Pluribus Unum” is inscribed across the top of the coin.
When collectors look to purchase the 1922 Lincoln penny they will only seek out those versions that have been graded. A graded coin is one that has been carefully examined by an expert for any imperfections whatsoever. By taking into consideration those imperfections, the coin will be given a one or two-word grade that aptly describes its precise condition. Below we will introduce you to the different coin grades as well as what they mean for the 1922 Lincoln penny.
Uncirculated: If a coin is given an Uncirculated grade, this means that it never spent any time exchanging hands. As such, these coins will be perfectly preserved much like they were the day they were minted. The coin’s color might be faded due to its age, but other than that it will be in perfect shape.
Extremely Fine: If a coin is graded as Extremely Fine, it might have never been circulated but it will show some small imperfections. A small scratch or chip might be all there is, but these are enough to bring the grade downward. Still, to the naked eye these coins will appear to be in near flawless condition.
Fine: Fine is the grade given to coins that were circulated, but not so much that they have been heavily damaged. The raised images, such as Lincoln’s profile and the wheat stalks, might show some signs of smoothing. There will also be signs of scratching and chipping, but not so much that the lettering and imagery will have been compromised.
Good: A Good grade is given to those coins that have been heavily circulated over long periods of time. These coins will show significant smoothing, scratching, and chipping. Though there are varying degrees of this and every other grade, all Good 1922 Lincoln pennies will show a lot of damage from years of exchanging hands.
As for the value of a 1922 Lincoln penny, this is determined by the type and grade. Some years saw up to three different types of the pennies produced, but in 1922 there was only one type. Because of this, the 1922 coin is especially valuable because the lack of other types mean that there are comparatively fewer than were produced in other years. The chart below will help you gain a better understanding of what type of value a 1922 Lincoln will have, given its grade.
|1922 Lincoln Penny||$20||$25||$40||$75||Source: Red Book|