1917 Lincoln Wheat Penny Value: How Much Is This Cent Worth Today?

1917 Lincoln Wheat Penny

The 1917 Lincoln Wheat Penny showcases a classic design that has captivated collectors for decades. On the obverse, a well-defined portrait of Abraham Lincoln faces right.

The word "LIBERTY" appears at the top, while the year "1917" sits at the bottom. "IN GOD WE TRUST" arcs above Lincoln's head, emphasizing national values.

The reverse features iconic wheat stalks, symbolizing America's agricultural heritage. "ONE CENT" is centered between the stalks, with "E PLURIBUS UNUM" inscribed above, reinforcing the nation's unity.

Minting Details

Three mints produced the 1917 Lincoln Wheat Penny:

  • Philadelphia: 196,429,785
  • Denver: 55,120,000
  • San Francisco: 32,620,000

The Philadelphia Mint's substantial output makes it the most common variety.

Composition and Physical Characteristics

The 1917 Lincoln Wheat Penny consists of:

  • 95% copper
  • 5% tin and zinc

This composition gives the coin its distinctive reddish-brown color. The penny measures 19 millimeters in diameter, weighs 3.11 grams, and has a thickness of 1.55 millimeters.

Its edge is plain, contributing to a simple yet effective design.

Key Dates and Varieties

A notable variety is the 1917 doubled die penny, where the inscription appears doubled due to a minting error. These special varieties significantly impact the coin's value and collectibility.

The doubled die error is visible on the obverse, with noticeable doubling in the date and lettering.

This error coin was minted at the Philadelphia Mint, as evidenced by the lack of a mint mark. The exact number of doubled die pennies produced is unknown, but they are considered rare.

Values

The 1917 Doubled Die Obverse penny commands significant premiums:

  • Good condition: $155
  • Very Fine condition: $250
  • Extremely Fine condition: $400
  • Uncirculated (MS-60): $3,500
  • Uncirculated (MS-63): $7,250

Red-brown (RB) coins in mint state can fetch $8,250 to $12,500, while red (RD) examples are even more valuable:

The auction record for this variety stands at an impressive $120,000 for an MS-67+ red specimen sold in 2019.

Here's a list of the values you can expect from regular strike 1917 wheat pennies.

Date VF-20 EF-40 MS-60
1917 $2 $5 $18
1917 (D) $5 $50 $80
1917 (S) $2.50 $15 $85

(S) minted in San Francisco. (D) minted in Denver.

Valuation Source: The Official Red Book 77th Edition 2024

A Guide Book of United States Coins "Redbook" 2024 Hardcover

Grading and Identification

When identifying a 1917 Doubled Die Obverse penny, look for clear doubling in the date, "LIBERTY," and "IN GOD WE TRUST" on the obverse. The doubling should be visible even under low magnification.

The 1917 Doubled Die Obverse penny is considered rare, with an estimated survival rate of only 200 coins across all grades. In mint state (MS-60 or better), fewer than 40 examples are thought to exist.

Minting Errors

While the doubled die obverse is the most valuable error for 1917 pennies, other errors can also add value:

  • Die cracks and cuds: $3 to $150
  • Off-center strikes: $10 to $20
  • Re-punched mint marks: $5 to $20
  • Reverse struck-through errors: $10 to $100

Grading and Preservation

Grading a 1917 Lincoln Wheat Penny involves assessing its condition based on wear, luster, and surface quality.

Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation. Common grading terms include Good, Fine, Extremely Fine, and Uncirculated.To preserve these coins:

  • Store them in a cool, dry place
  • Avoid exposure to excessive light or humidity
  • Use archival-quality coin holders or albums

Proper storage prevents scratches and environmental damage.

Collecting Tips

When collecting 1917 Lincoln Wheat Pennies:

  1. Research different varieties and mint marks
  2. Attend coin shows and auctions
  3. Network with other collectors
  4. Examine coins carefully for authenticity
  5. Avoid cleaning coins, as it can decrease their value

Historical Context

The year 1917 saw the United States engaged in World War I. Economic conditions changed rapidly as the country adjusted to wartime production needs.

The increased demand for coins reflected the rise in economic activity, influencing the mint's production strategies. Despite societal changes, the Lincoln Penny's design remained consistent, symbolizing stability.

Lincoln wheat cents were minted throughout the following years:

1909, 1910, 1911, 1912, 1913, 1914, 1915, 1916, 1917, 1918, 1919, 1920, 1921, 1922, 1923, 1924, 1925, 1926, 1927, 1928, 1929, 1930, 1931, 1932, 1933, 1934, 1935, 1936, 1937, 1938, 1939, 1940, 1941, 1942, 1943, 1944, 1945, 1946, 1947, 1948, 1949, 1950, 1951, 1952, 1953, 1954, 1955, 1956, 1957, 1958.


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