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    1929 Lincoln (Wheat) Penny

    The design of the 1929 Lincoln penny might not look all that different from the penny that is in circulation today, however the difference in value is massive. Thanks to the limited quantity remaining and the historical significance of the coins, the 1929 Lincoln penny is a desirable coin in the eyes of most every collector. As time moves on, these coins will only grow increasingly valuable.

    As for the coin’s design, the obverse features a raised depiction of Abraham Lincoln. The depiction was made to commemorate Lincoln’s 100th birthday, and is still being used today. Arching above the image of Lincoln is the phrase “In God We Trust.” Finally, there is a raised inscription of the 1929 year of minting to Lincoln’s right, while the word “Liberty” is inscribed on his left.

    The coin’s reverse sees the center dominated by two inscriptions, one that reads “United States of America,” and one that displays the “One Cent” face value. On both the left and right sides, towards the outer edge, are two individual stalks of wheat. These stalks are why some people refer to the Lincoln penny as the “Wheat Penny.” Finally, the Latin phrase “E Pluribus Unum” is seen arching overtop.

    Grading the 1929 Lincoln Penny

    For collectors, having a 1929 Lincoln penny will not suffice. Instead, they will seek out those coins that have been well-preserved throughout the years. One way by which they will make the determination of whether a coin is collection-worthy or not is by way of grading. Grades are nothing more than professional assessments of a coin’s condition. Below will be an introduction of the different grades as well as what they might mean for a 1929 Lincoln penny.

    Uncirculated: A 1929 Lincoln that is determined to be Uncirculated is one that has never spent any time exchanging hands. This means that these pieces have managed to avoid all of the wear and tear you associate with coins that are so old, such as scratching, smoothing, and chipping. All things told, these coins are in impeccable condition.

    Extremely Fine: Extremely Fine is the grade given to coins that might have been circulated for a short period of time, but will have largely avoided damage. Though the person grading the coin might notice an imperfection or two, these pennies will appear, to the naked eye, to be in absolutely perfect condition.

    Fine: Fine is a grade assigned to coins that have definitely exchanged hands for a period of time, but will not be so heavily damaged. To the naked eye, you will notice some scratching and smoothing, but not so much that any of the lettering or imagery will have been compromised. Despite years of circulation, these pennies will have had their condition nicely preserved.

    Good: Good is the grade given to the coins that have been circulated for an extended period of time. You will notice extreme scratching and chipping, which is not atypical for coins that are almost a century old. Despite their somewhat poor appearance, they are still highly sought after by collectors.

    Pricing the 1929 Lincoln Penny

    When it comes to determining the value of a 1929 Lincoln penny, this is something that will depend upon the type of penny as well as the condition it is in. Because most years saw up to 3 different types of Lincoln pennies minted, there might be 3 different values for a 1929 Lincoln of the same grade. Below is a chart that will help you understand the value of a coin given its grade and type.

    Lincoln Pennies

    DATE GOOD FINE EXTREMELY FINE UNCIRCULATED
    1929 Lincoln Penny $0.20 $0.30 $2 $4
    1929 Lincoln Penny (D) $0.40 $1.25 $5.50 $13
    1929 Lincoln Penny (S) $0.50 $1.65 $5.80 $14
    Source: Red Book

    All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.