The 1953 Lincoln penny may look a lot like the modern penny, and that is no coincidence. The modern penny and the one from 1953 feature very similar designs, however the older version is much more popular amongst collectors. When you consider the fact that it only grows scarcer by the day, it is easy to see why now is the perfect time to get your hands on the coin.
On the obverse of the Lincoln penny, the central part of the coin is dominated by the stunningly detailed image of Abraham Lincoln. Immediately to the left of the central image is a raised inscription which reads “Liberty.” Opposite the Liberty inscription is one that marks the 1953 year of minting. Finally, the phrase “In God We Trust” arches overtop.
On the coin’s reverse, there are two inscriptions in the center. One of the inscriptions reads “United States of America,” while the other marks the “One Cent” face value. Situated along both the left and right outer edges of the coin are two stalks of wheat, which explain why the coin is often referred to as a “Wheat Penny.” The Latin, and uniquely American, phrase “E Pluribus Unum” is arching overtop of the reverse.
When it comes to a coin as old as the 1953 Lincoln penny, collectors are not content with having just any old coin. Rather, they will only settle for the coins that have been relatively well-preserved over the years. As such, you will notice that the only 1953 Lincoln pennies worth collecting are those that have been graded. Below we will introduced you to the different coin grades as well as what they mean for the coin’s condition.
Uncirculated: A coin that is determined to be of Uncirculated grade is one that never spent any time on the open market exchanging hands. These pieces have been kept in safekeeping throughout the whole of their existence, and because of that their condition can best be described as flawless.
Extremely Fine: A coin graded as being Extremely Fine is one that was probably never circulated, but will have a minor flaw or two. Under the watchful eye of a professional grader these flaws will be noticed, even if they cannot be seen with the naked eye.
Fine: A coin that is graded as being Fine is one that was likely circulated for an extended period of time, but has managed to avoid any major damage. These coins will show some minor signs of wear and tear, such as light scratching and some smoothing of the raised imagery and lettering, but in all these pieces will appear to be relatively well-preserved.
Good: Good is the worst grade a coin can receive, and is usually indicative of a 1953 Lincoln penny that has been heavily damaged. The wear and tear on these coins is so severe that some of the raised imagery and lettering might be compromised. Whether we are talking intense smoothing or deep scratching, these coins have seen better days.
If you are attempting to determine a price for the 1953 Lincoln, you will have to take into consideration a few different items. For one, there were up to 3 different types of Lincolns produced each year. Knowing this, it goes without saying that the type of coin you own will determine its value. Beyond that, another massive factor in determining the value of a 1953 Lincoln is the grade it is given. Below is a chart that will help you understand what one of these coins might be worth given its type and condition.
|1953 Lincoln Penny||N/A||N/A||$0.15||$0.20|
|1953 Lincoln Penny (D)||N/A||N/A||$0.15||$0.20|
|1953 Lincoln Penny (S)||N/A||N/A||$0.15||$0.20||Source: Red Book|