Do you have a Lincoln Wheat penny? How much do you think it's worth?
The value of this US coin really depends on its state. A 1910 penny with no mint mark in proof condition could be worth up to $600, but this is very rare and generally they are worth up to $80.
Though the Lincoln Wheat Back is more than 100 years old, since it was first produced, it is still full of massive value. When talking about American currency, historically, you can’t fail to mention the 1910 Lincoln Wheat Penny.
A major factor that makes these US coins so unique and iconic is the image of Abraham Lincoln on the obverse. Lincoln was the 16th President of the US and his legacy continues to live beyond his death.
Having championed for the end of slavery and led the US through the American Civil War (1861-1865), there is a reason why the 1910 Lincoln Wheat Penny attracts great admiration and worth.
The front side of the coin has the image of Abraham Lincoln, who is considered as one of the greatest presidents in the history of the US. You will also notice the words "In God we Trust" right above Lincoln’s image.
On the reverse side, the image the word “LIBERTY” is clearly visible. On the obverse side, Lincoln’s head and the year of the coin’s minting, 1910, is inscribed. The reverse or the back side of the coin has two inscriptions at the center.
One of the inscriptions has the words "UNITED STATES OF AMERICA" and the other inscription has the words "ONE CENT." The latter represents the value of the coin. At the top of the reverse side are the words "E Pluribus Unum."
Lastly, on both sides of the back side, there are two stalks of wheat.
Mintmarks are significant in regards to the 1910 Lincoln Wheat Penny. If the “S” mintmark is present under the date of a Lincoln Penny, it means that it was minted in San Francisco.
If there is a “D” under the date of a Lincoln Penny, it shows that it was minted in Denver. Moreover, if the coin doesn’t have a mintmark, it’s an indication that the place of minting was Philadelphia.
Victor D. Brenner was the designer of the Lincoln Wheat penny, but his initials VDB do not appear on this year's version of the US one cent coin as they do on some other years.
Grading of a coin as old and valuable as the 1910 Lincoln Wheat Penny carries a great deal of significance. Collectors need to know the worth of what they are buying; hence, the reason why grading is imperative.
Generally, grading certifies the condition of a coin. The following are the different grading levels of the Lincoln penny:
Good: This level of grading is for coins that have been in circulation for a substantial number of years. Because of the many years a coin has been in circulation, the possibility of showing signs of wearing out is high. As a result, most of the features of a Lincoln Wheat Penny will not be as sharp as they were when it was new.
Fine: This level of grading implies that a 1910 Lincoln Wheat Penny has signs of tear and wear, but it is still in good shape. For example, an inscription, on the penny, like the word “LIBERTY” can be scratched to the extent that it becomes hard to notice it.
Extremely Fine: The coins graded as Extremely Fine are the ones that have been on the market for a small period of time. When observed with the naked eye, it is difficult to notice any indications of wear, but a closer inspection will reveal any indications of wear. Generally, they are more valuable than the above-mentioned.
Uncirculated: An Uncirculated Lincoln coin simply means that it has not been in circulation since it was minted. It has been kept safe since. Even with close inspection, the coin will not reveal any imperfections. Indeed, this is the reason as to why coins graded as Uncirculated are so precious to collectors.
There are factors, such as mint errors, mint locations, and quality that determine the value of the 1910 Lincoln pennies.
One of the factors is the Date and Mintmark combination. What this means is that the coins that have a mintmark under the date fetch a higher value than the ones that don’t.
Specifically, the 1910 S Lincoln Penny has a higher value compared to the version with no mintmark. Collectors will definitely look for the penny with a mintmark if they want a high premium one.
The other factor that contributes to determining the value of the 1910 Lincoln Wheat Penny is its grading. The grading can be one of the following: Uncirculated, Extremely Fine, Fine, and Good.
If it has a grading of Uncirculated, it has the highest value while Good has the lowest value.
In terms of value, an Uncirculated 1910 Lincoln Penny costs around $10 while an Uncirculated 1910 S Lincoln Penny costs around $80.
An Extremely Fine 1910 Lincoln Penny costs around $4 while an Extremely Fine 1910 S Lincoln Penny is priced around $45.
It is also important to take note that 1910 Penny errors contribute to the eventual value of the highly sought-after coin.
Some of the errors include: the 1910 doubled die penny and off center strike.
Without a doubt, the 1910 Lincoln Wheat Penny has been, and will continue being a valuable item for a long time into the future. With more than 100 years in active circulation, the 1910 Pennies have a great historical significance to the US.
That is why collectors are in need of owning this one cent coin that was first produced more than a century ago.
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