1917 Lincoln Wheat Penny Value | 1917 Wheat Cent Price Info
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The 1917 Lincoln Wheat Penny, a staple in American coin collecting, holds a significant place in numismatic history. This article delves into the details of the 1917 wheat penny, including its historical context, grading, mint marks, and current market values. Whether you’re a seasoned collector or just starting out, understanding the value and significance of this coin can enhance your collecting experience and potentially increase your investment in wheat pennies.
What is a 1917 Lincoln Wheat Penny?
The 1917 Lincoln Wheat Penny, also known as the Lincoln cent, features the iconic profile of Abraham Lincoln on the obverse and two wheat stalks on the reverse. Designed by Victor David Brenner, this coin represents a significant era in U.S. mint history. It is part of the Lincoln series, which began in 1909, marking the 100th anniversary of Lincoln’s birth. The 1917 wheat penny falls under the category of one cent coins, which are still in circulation today.
This penny is a regular strike coin minted in various locations, including Philadelphia, Denver, and San Francisco. The 1917 Lincoln Wheat Penny is particularly popular among collectors due to its historical significance and the various mint marks that affect its value.
How to Determine the Value of a 1917 Wheat Penny?
Determining the value of a 1917 wheat penny involves several factors, including its condition, mint mark, and market demand. The grading of coins plays a crucial role in establishing their coin value. Coins in uncirculated condition, rated 60 or better on the Sheldon coin grading scale, typically command higher prices than those that have circulated extensively.
Additionally, the presence of a mint mark—indicating where the coin was produced—can significantly impact its value. For instance, a 1917-S (San Francisco Mint) wheat penny usually carries a higher value than its Philadelphia counterpart due to its lower mintage. Collectors often refer to price guides and auction results to gauge the current market value of specific coins.
What are the Different Mint Marks for the 1917 Lincoln Wheat Penny?
The 1917 Lincoln Wheat Penny comes with several mint marks that denote where it was minted. The three primary mint marks are: ‘P’ for Philadelphia, ‘D’ for Denver, and ‘S’ for San Francisco. The Philadelphia mint did not use a mint mark until 1942, so all coins from this mint in 1917 will lack a mint mark.
The mint mark plays a vital role in determining the coin’s value. For example, the 1917-S Lincoln Wheat Penny is rarer and more sought after, leading to a higher coin value compared to the 1917-P. Collectors often seek out these mint-marked coins for their rarity and potential investment value.
What is the Grading Scale for 1917 Lincoln Wheat Pennies?
Grading coins involves assessing their condition based on specific criteria. The Professional Coin Grading Service (PCGS) and other grading organizations use the Sheldon grading scale, which ranges from 1 to 70. A 1917 Lincoln Wheat Penny rated at 65 or better is considered uncirculated and can fetch a substantial price on the market.
Common grades for the 1917 penny include Fine (F), Very Fine (VF), and Extremely Fine (EF). Coins that show minimal wear and retain their original luster are highly prized by collectors. Understanding the grading scale is essential for collectors who want to accurately assess their coins’ value.
What Factors Influence the 1917 Lincoln Wheat Penny Value?
Several factors influence the value of the 1917 Lincoln Wheat Penny. First, condition is paramount. Coins in mint state, which means they have never circulated, typically hold the highest value. Second, rarity affects price; coins with lower mintage figures or unique features, such as the 1917 DDO (doubled die obverse), tend to be more valuable.
Market demand also plays a crucial role. As more collectors enter the market, the demand for specific coins can drive up prices. Economic conditions and trends in numismatics can also impact the value of coins. Staying informed about market trends helps collectors make educated decisions when buying or selling their wheat pennies.
Where Can You Buy or Sell a 1917 Lincoln Wheat Penny?
Collectors can buy or sell a 1917 Lincoln Wheat Penny through various channels, including local coin shops, numismatic shows, and online marketplaces. Accurate Precious Metals is a reputable dealer where collectors can explore options for buying or selling wheat pennies and other coins. They provide guidance and expertise, ensuring collectors make informed decisions.
Online platforms like eBay and specialized numismatic websites also offer avenues for buying and selling coins. However, it’s essential to research the seller’s reputation and verify the coin’s authenticity before making a purchase. Coins should come with proper documentation and grading to ensure buyers receive quality products.
How to Spot a Fake 1917 Lincoln Wheat Penny?
Spotting a counterfeit 1917 Lincoln Wheat Penny requires careful inspection. Genuine coins have distinct features, including the quality of the engraving and the weight of the coin. A real 1917 wheat penny weighs 2.5 grams and has a diameter of 19mm. Counterfeit coins often deviate from these specifications.
Additionally, examining the coin’s surface for any irregularities, such as poor engraving or inconsistent texture, can help identify fakes. Utilizing a magnifying glass can assist in revealing details that may not be visible to the naked eye. When in doubt, consulting with a professional coin grader can provide assurance regarding a coin’s authenticity.
What is the Historical Significance of the 1917 Lincoln Wheat Penny?
The 1917 Lincoln Wheat Penny holds historical significance due to its connection to Abraham Lincoln, one of America’s most revered presidents. The coin commemorates not only Lincoln’s legacy but also the period in which it was minted, during World War I. The design reflects the nation’s values, with Lincoln’s profile symbolizing unity and strength.
This penny also marks a transitional phase in American coinage, as it was produced during a time of significant change in the U.S. economy and society. Collectors appreciate the 1917 wheat penny not only for its monetary value but also for its representation of America’s rich history and numismatic heritage.
What are the Most Valuable 1917 Lincoln Wheat Pennies?
Among the various 1917 Lincoln Wheat Pennies, those with unique characteristics or in exceptional condition stand out in terms of value. The 1917 DDO is one of the most sought-after varieties due to its doubled die error, making it rare and valuable to collectors. Coins in mint condition can reach prices well into the thousands.
Additionally, the 1917-S Lincoln Wheat Penny, with its lower mintage, typically commands higher prices in the market. Collectors often reference value charts and auction results to determine the worth of these rare coins. Understanding which varieties are most valuable helps collectors focus their efforts on acquiring coins that will appreciate over time.
Frequently Asked Questions about the 1917 Lincoln Wheat Penny
What is the average price for a 1917 Lincoln Wheat Penny?
The average price for a 1917 Lincoln Wheat Penny varies based on its condition and mint mark. Generally, prices can range from a few cents for heavily circulated coins to several thousand dollars for uncirculated or rare varieties. Collectors should consult current market trends and price guides to get an accurate assessment.
How can I sell my 1917 Lincoln Wheat Penny?
Selling a 1917 Lincoln Wheat Penny can be done through several methods. You can take it to a local coin dealer, such as Accurate Precious Metals, or list it on online marketplaces. Ensure you have proper documentation and grading information to attract potential buyers and maximize your selling price.
What should I look for when buying a 1917 Lincoln Wheat Penny?
When buying a 1917 Lincoln Wheat Penny, look for its condition, mint mark, and authenticity. Ensure the coin is graded accurately and check for any signs of wear or damage. Research the seller’s reputation and demand documentation to avoid purchasing counterfeit coins.
Can I find a 1917 Lincoln Wheat Penny in circulation?
While it’s rare to find a 1917 Lincoln Wheat Penny in circulation today, it’s not impossible. Some coins may remain in circulation, especially in older collections. However, most collectors acquire these coins through dealers, auctions, or online platforms rather than from everyday transactions.
What resources are available for researching 1917 Lincoln Wheat Penny values?
Collectors can find various resources to research 1917 Lincoln Wheat Penny values, including price guides, numismatic websites, and online forums. The PCGS website and other reputable numismatic organizations provide valuable information about coin values, grading, and market trends.
Summary of Key Points
- The 1917 Lincoln Wheat Penny features a design by Victor David Brenner.
- Mint marks, including ‘P,’ ‘D,’ and ‘S,’ significantly influence the coin’s value.
- Grading plays a crucial role in determining the coin’s worth; uncirculated coins hold the highest value.
- Factors like rarity, condition, and market demand affect the 1917 wheat penny’s price.
- Use reputable dealers, like Accurate Precious Metals, for buying or selling coins.
Sources
- Professional Coin Grading Service. “PCGS Coin Facts.” www.pcgs.com.
- Numismatic Guaranty Corporation. “NGC Coin Price Guide.” www.ngccoin.com.
- Coin World. “How to Buy and Sell Coins.” www.coinworld.com.
