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    1954 Lincoln (Wheat) Penny

    The Lincoln Penny is one of the most iconic American coins mainly because of how long it has been produced as well as how frequently it is used. For collectors, older versions of the Lincoln penny have recently become must-have items. The 1954 Lincoln fits that bill perfectly, and now is as good a time as ever to get your hands on one.

    The obverse side of the 1954 Lincoln penny features in the center the image of Abraham Lincoln, depicted in incredible detail. To the right of Lincoln’s image is a raised inscription marking the 1954 year of minting. Opposite the date marking is one that reads “Liberty.” Finally, the phrase “In God We Trust” is arching overtop of Lincoln’s image.

    The reverse of the Lincoln penny does not feature imagery in the center but, rather, two raised inscriptions. One of the inscriptions reads “United States of America,” while the other marks the “One Cent” face value. On either side of the reverse you will notice two single stalks of wheat, which is why the coin is sometimes referred to as the “Wheat Penny.” The Latin phrase “E Pluribus Unum” can be seen arching overtop of the reverse.

    Grading the 1954 Lincoln Penny

    The 1954 Lincoln penny is a great coin and equally great addition to any collection. With that being said, collectors will not settle for just any 1954 Lincoln. Instead, they prefer to add only those coins that have been well-preserved and those that have been graded. Below we will introduce you to the different coin grades as well as what they mean for the appearance of the 1954 Lincoln.

    Uncirculated: Uncirculated is the grade used to describe 1954 Lincolns that have never been circulated. These coins, having never exchanged hands and never been used on the open market, will look exactly as they did the day they were minted. Naturally, these are the cream of the crop as far as collectors are concerned.

    Extremely Fine: If a coin is determined to be of Extremely Fine grade, this means that while it may look flawless, there will be a minor flaw or two. Though many of the imperfections on these Lincoln pennies are not easily discernable with the naked eye, they will be uncovered by the grading process.

    Fine:  A coin that is determined to be of Fine grade is one that was circulated, but has not been too heavily damaged. You will notice light scratching and a few minor chips, consistent with coins that have been circulated, but all of the major, raised aspects of the coin will still be intact.

    Good: A coin that is determined to be of Good grade is one that has been extremely heavily circulated and damaged. Though the exact damage can vary dramatically, you will notice a lot of smoothing and scratching. In fact, some of the raised aspects of the coin will have been worn down almost completely.

    Pricing the 1954 Lincoln Penny

    If you would like to determine the value of a 1954 Lincoln penny, this is something that can be done when you take into consideration a few different pieces of information. For one, there were up to 3 different types of Lincoln pennies produced most years, the value of the coin will vary based on type. Beyond that, the grade of the coin will also weigh heavily on the value. Below you will see a chart aimed at giving you a better idea of what the 1954 Lincoln penny is worth given its type and condition.

    Lincoln Pennies

    1954 Lincoln Penny N/A N/A $0.35 $0.45
    1954 Lincoln Penny (D) N/A N/A $0.12 $0.20
    1954 Lincoln Penny (S) N/A N/A $0.12 $0.20
    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.