Why the 1919 Penny May Shine: Nuances That Shape the Value

More than one hundred years ago, the monetary sector was completely different. As the world was combating the evil powers, it was vital to maintain an economically healthy landscape no matter what. These aspirations, as well as hope, sorrow, and anticipation of the future, were vividly reflected in the numismatic creations of that time.

The 1919 wheat penny is a fine example of a coin that carries the weight of its era. Today, it remains a fascinating relic, but what exactly identifies this coin as exceptionally valuable? In this material, we are to reveal the pricing structure of the coin and recommend a tool that may change your numismatic experience once and for all.

A Piece of History of the 1919 Penny

It is no secret that 1919 may refer to a transitional, post-war era when it was urgently needed to rebuild and stabilize the financial systems in most countries. Pennies were not meant to do so, but their emergence might demonstrate the state of the numismatic sphere in the US and the way Americans treated (simple metal tokens) coins during challenging times. 

Let us briefly go back to 1919, when there was released a new iteration of the penny designed by Victor David Brenner which was supposed to commemorate the centennial of Abraham Lincoln's birth. As for its appearance, the obverse of the penny demonstrates the profile of the 16th president, who was the first real historical figure to be featured on a US currency. The reverse design featured two wheat stalks surrounding the words "ONE CENT" and "UNITED STATES OF AMERICA".

The history of the 1919 penny is strongly connected to the social and economic settings of the period. It was in circulation during a time of major cultural changes in the US, economic expansion, and the emergence of mass production. This is why the collector's demand gets rather obvious.

What Does the 1919 Penny Look Like?

It is definitely true that the 1919 wheat penny can be considered a classic example of early XX-century American coinage. Besides, the details of the design became symbolic and recognizable, which is why the coin is usually referred to as "the wheat penny", rather than a Lincoln cent, i.e., its official name. So, what do these instances expose? 

Anyway, it is not about the design that makes the coins minted in 1919 valuable. It is about its unique, exceptionally crafted variations, either deliberately or inadvertently. 

Key Variations of the 1919 Wheat Penny

The 1919 wheat penny value can be boosted with the appearance of exclusive errors, designations, and other features on the surface. Here are the main factors that define the 1919 penny worth today.

By Error

Coin manufacturing is not immune to errors which produce rare and valuable variations on their part. But which 1919 wheat penny errors to look for? 

• Off-Center Strikes (a section of the design is absent because of misalignment during the minting process)

• Die Cracks (visible cracks caused by wear or damage of the die)

• Lamination Errors (peeling off or splitting surface).

• BIE Error (a die break between the “B” and “E” in "LIBERTY" )

By Designation

It is also important to consider color designations (usually attributed by the grading services again) which may also define the 1919 penny value.

• Brown (BN): Coins with a darker appearance due to oxidation.

• Red-Brown (RB): Coins with a mix of original reddish copper luster and brown patina.

• Red (RD): Coins that retain their full original copper color.

By Grade

Besides, it is vital to pay attention to the grades attributed by the official grading services like PCGS or NGC. The higher the grade (which means the top-notch quality), the higher the price – that is the rule. This is how it works:

• Good (G-4): Heavy wear, most design details faded.

• Fine (F-12): Moderate wear, sharper details.

• Extremely Fine (EF-40): Minimal wear, nearly all details visible.

• Mint State (MS-60 to MS-70): No signs of wear, pristine condition, a shiny luster. 

By Mint

Just like with other coins, the 1919 pennies were produced by three major facilities in the US, i.e., Philadelphia, Denver, and San Francisco Mints respectively.

• Philadelphia (1919 Wheat Penny No Mint Mark): 392,021,000

• Denver (1919 D Wheat Penny): 57,154,000

• San Francisco (1919 S Wheat Penny): 139,760,000

How Much Is a 1919 Penny Worth?

So, let us finally turn to the value of 1919 wheat penny. Although its face denomination suggests only one cent, the financial worth may go beyond this figure. These days, the average worth of a circulated coin may be equal to $0.10 to $10.00, while Mint State instances can be sold for $500 or more. However, auctions may demonstrate different numbers exceeding hundreds of dollars.

Keep in mind that these auction prices reflect the maximum amounts collectors were willing to pay for exceptional instances under ideal conditions. This does not guarantee that you can sell your coin for the same price, for its value depends on factors (including circumstances that we cannot predict).

How to Locate a Valuable Asset to Gain? 

How much is a 1919 wheat penny worth? Which features make it valuable? Well, these questions are omnipresent, but what about the process of spotting such a coin? Though it may be overwhelming at first, with the right tools by your side, you can easily identify coins that may be worth much more than their face value. 

We always recommend that you rely on the Coin ID Scanner app, an innovative tool for coin identification and collection management. Being connected to an extensive database, it can recognize a variety of coins, including historical and rare ones, as well as estimate their market value. By the way, the main features of the Coin ID Scanner app include:

• Instant Coin Identification: Scan the coin with the use of the smartphone to access the coin card and get detailed information about its history, rarity, and current market value.

• Price Comparison: Compare the value of the coin across various sources to ensure you are getting the best deal.

• Error and Mint Mark Detection: The app can show potential errors or special mint marks, which can significantly increase a coin’s worth.

• Grading Assistance: The app offers guidance on how to assess a coin’s grade, which plays a key role in determining its value.

Understanding the nuances of the 1919 penny can enhance your collecting experience, so take your time, get prepared, and explore the market with confidence and ease!

Sources: 

1. https://kids.usmint.gov/about-the-mint/penny 

2. https://www.pcgs.com/coinfacts/coin/1919-1c-rd/2515