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    1941 Lincoln (Wheat) Penny

    The 1941 Lincoln penny might remind you of the modern Lincoln penny because the two coins’ designs are quite similar. While that is so, the coin from 1941 is far more valuable thanks to its desirability in the eyes of collectors. As time moves on, these coins will only increase in value in conjunction with their ever-rising scarcity.

    On the obverse of the 1941 Lincoln penny you will see the profile image of Abraham Lincoln, depicted in incredible detail. Immediately to the left of Lincoln’s image is a raised inscription which reads “Liberty.” To the right of Lincoln you will notice the raised marking of the 1941 year of minting. Rounding out the obverse side is an inscription arching overtop which reads “In God We Trust.”

    The coin’s reverse side has two inscriptions in the center, rather than an image. First, there is a raised inscription which reads “United States of America.” Directly above that inscription is another which marks the “One Cent” face value. To both the left and the right of the central inscriptions are two single stalks of wheat. The images of wheat are why this coin is often referred to as the “Wheat Penny.” Finally, the Latin phrase “E Pluribus Unum” is arching overtop of the reverse side.

    Grading the 1941 Lincoln Penny

    For collectors, having the 1941 Lincoln penny is not enough. Collectors strive to acquire only the most well-preserved pieces, and as a result will only want those pennies that have been graded by a professional company. Below we will list the different coin grades as well as a short description of what that grade actually means.

    Uncirculated: A coin that is of Uncirculated grade is one that never spent any time exchanging hands on the open market. Because they never spent any time exchanging hands, these coins will have been perfectly preserved such that their raised imagery and lettering is still in great shape.

    Extremely Fine: A coin that is determined to be of Extremely Fine grade is one that might have a small imperfection or two, but will otherwise be pristine. In most cases, the flaws on these coins are so minor that they are difficult to make out with the naked eye.

    Fine: Fine is the grade given to coins that have been circulated and show signs of wear and tear. While it will be easy to tell that these coins have been circulated, the damage will not be so significant that the coin’s lettering nor imagery will have been worn away.

    Good: Good is the grade given to coins that have been extremely worn over the years thanks to constant exchanging of hands. Though you will notice significant wear, scratching, and smoothing, these coins will be in decent shape for how old they are.

    Pricing the 1941 Lincoln Penny

    Assigning value to the 1941 Lincoln penny is something that can be done should you take into consideration a few different factors. Naturally, the condition the coin is in means a lot. Beyond that, you have to look at its type. Because there were up to 3 different types of Lincoln pennies produced in a given year, there may be 3 different values for 3 Lincoln pennies of the same grade. Below is a chart that will help you understand the value of a 1941 Lincoln penny given its type and grade.

    Lincoln Pennies

    DATE GOOD FINE EXTREMELY FINE UNCIRCULATED
    1941 Lincoln Penny $0.15 $0.20 $0.60 $1.50
    1941 Lincoln Penny (D) $0.15 $0.20 $1 $3
    1941 Lincoln Penny (S) $0.15 $0.30 $1 $3
    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.