1920 Lincoln Wheat Cent: A Beginner’s Guide to a Classic Penny

The 1920 Lincoln Wheat Cent is one of the most accessible entry points in American numismatics – a copper penny that carries real history, genuine collector demand, and surprising value in top condition. Struck at three different mints during a key year in American culture, this coin bridges the post-World War I era with the beginning of the Roaring Twenties, all on a disc of copper barely 19 millimeters wide.

Whether you are building a Lincoln Wheat Penny set, hunting for errors, or simply curious about a coin you found in an old collection, this guide covers everything you need to know – mintage figures, design details, values by grade, and how to sell if you decide to move your coins.

History of the 1920 Lincoln Wheat Cent

The Lincoln Wheat Cent series launched in 1909 to mark the centennial of Abraham Lincoln’s birth. It was a landmark moment: the first U.S. circulating coin to feature an actual president’s portrait. Sculptor Victor David Brenner created the design, placing Lincoln’s profile on the obverse and two wheat stalks on the reverse as a symbol of American agricultural prosperity.

By 1920, the design had been in circulation for eleven years and was firmly established. The U.S. Mint struck these coins in a composition of 95% copper and 5% tin and zinc – a formula that gives surviving examples their characteristic warm reddish-brown tone. Collectors grade that color as Red, Red Brown, or Brown, with original Red examples commanding the strongest premiums.

The year 1920 sits in an interesting stretch of the series. Two years later, in 1922, only the Denver Mint struck cents, producing the famous “No D” variety that is one of the series’ most sought-after rarities. In 1943, wartime needs pushed the Mint to switch to zinc-coated steel. But in 1920, production ran normally and in large volume – which is why circulated examples are common, while gem uncirculated pieces remain genuinely scarce.

For context on how the 1920 date fits within the broader series, the Lincoln Wheat Penny key dates guide at AccuratePMR is a useful companion read.

Design Features of the 1920 Wheat Cent

The obverse carries Abraham Lincoln facing right. “IN GOD WE TRUST” arcs above his portrait, “LIBERTY” appears to his left, and the date “1920” sits to his right. Brenner’s initials “VDB” appear faintly on Lincoln’s shoulder – a compromise after public controversy over their original, more prominent placement on the reverse in 1909.

The reverse is clean and direct. “ONE CENT” and “UNITED STATES OF AMERICA” are stacked in the center, with “E PLURIBUS UNUM” running along the top. Two wheat stalks flank the text, curving outward – the feature that gives these coins the “Wheatback” nickname collectors use casually.

The edge is plain and smooth. The coin measures 19 mm in diameter and weighs 3.11 grams. At a glance it resembles later Lincoln cents, but the wheat reverse and the older engraving style make it immediately distinct to any trained eye.

Mint Marks and Mintage: Three Sources for One Coin

Three mints produced the 1920 Lincoln Wheat Cent, and each left a different mint mark – or no mark at all – under the date on the obverse.

Philadelphia dominated production by a wide margin. With over 310 million coins struck, circulated Philadelphia examples are easy to find and inexpensive. Denver produced far fewer, making the 1920-D modestly scarcer. San Francisco sits in the middle by mintage but is often appreciated for its strike quality.

None of the three are considered key dates in the traditional sense – meaning none are rare in circulated condition. The real hunt is for high-grade, original-luster examples and for error varieties.

Varieties and Errors Worth Knowing

Errors and varieties are where the 1920 Lincoln Wheat Cent gets interesting for serious collectors. A coin that might sell for a dollar in worn condition can jump to hundreds or thousands if it carries a confirmed error.

The most significant variety type to watch for is the Double Die Obverse (DDO). This occurs when the die strikes the coin more than once at a slightly different angle, creating visible doubling on the date, “LIBERTY,” or the motto. A confirmed extreme DDO on any 1920 date would be a major find – the 1955 DDO Lincoln cent, for comparison, regularly sells for five figures.

Other varieties collectors look for include:

• Repunched mint marks on the 1920-D and 1920-S, where the mint mark was punched into the die more than once
• Off-center strikes, where the design is shifted noticeably from center
• Weak strikes, particularly on 1920-P coins from worn dies
• Color upgrades – a coin graded Red rather than Brown can be worth several times more at the same numeric grade

Always examine 1920 cents under magnification before selling or buying. A loupe or digital microscope reveals details the naked eye misses entirely.

1920 Lincoln Wheat Cent Value by Grade and Mint

Condition drives value more than mint of origin for most 1920 cents. The grading scale runs from Poor (P-1) through circulated grades like Good (G-4), Very Fine (VF-20), and Extremely Fine (EF-40), up through About Uncirculated (AU-50) and Mint State (MS-60 through MS-70).

The record auction price for a 1920 Philadelphia cent in MS-67 Red reached approximately $16,800 – a dramatic illustration of how condition transforms value for what is otherwise a common coin. The 1920-S in gem grades has also seen strong auction results, with top examples reaching well into five figures.

PCGS & NGC Coin Verification – Accurate Precious Metals Refineries

Brown coins are the most common survivors. Red Brown coins retained some original luster. Full Red examples – coins with 95% or more original mint color – are the rarest survivors and the ones that attract the most competitive bidding.

Copper Content and Melt Value

The 1920 Lincoln Wheat Cent contains 95% copper, which works out to approximately 2.96 grams of pure copper per coin. At current copper spot prices – which remain far below silver at $82 per ounce or gold at $4,836 per ounce – the melt value of a single 1920 cent is roughly $0.10.

That number matters for one reason: it confirms that the value of these coins is almost entirely numismatic, not metallic. You are not buying copper content when you collect Wheat Pennies. You are buying history, scarcity, and condition.

It is also worth noting that melting U.S. cents is prohibited under federal law, so melt value is a floor reference, not a practical exit strategy.

For collectors who enjoy the idea of holding physical copper alongside silver and gold, Wheat Pennies offer an affordable, tangible way to diversify a collection without the price volatility of bullion. Understanding the difference between numismatic and bullion coins is useful context before deciding how to approach either category.

How to Grade and Authenticate Your 1920 Wheat Cent

Grading is the single most important factor in determining what your coin is worth. Here is a practical approach:

For coins you believe are high-grade or carry an error, professional slabbing through PCGS or NGC is the right move. A slab protects the coin and gives buyers confidence in the grade. Accurate Precious Metals is an NGC Authorized Dealer, which means our team can assist with the submission process for coins you want professionally assessed.

Collecting the 1920 Lincoln Wheat Cent: Practical Tips

Building a Lincoln Wheat Penny set is one of the most approachable goals in American coin collecting. The 1920 date, available from all three mints, is a solid addition to any collection at any budget.

• Start with circulated examples from pocket change, estate sales, or coin shows. A worn 1920-P costs less than a dollar and fills the slot while you hunt for better pieces.
• Target the 1920-D and 1920-S for slightly more challenge. The Denver issue is the scarcest of the three; the San Francisco issue often shows better strike quality.
• Use a Dansco or Whitman album to organize your collection. Proper housing protects the coins and makes the set visually satisfying.
• Store coins in airtight 2×2 flips or hard plastic holders. Avoid PVC holders – they leach chemicals that damage copper surfaces over time.
• Keep coins in a cool, dry environment. Humidity causes copper to spot and tone in ways that reduce grade and value.
• For investment-grade pieces, buy slabbed coins from reputable sources. Raw coins are fine for filling sets; slabbed coins are better for resale.

The 1920 cent pairs naturally with other coins from the same era. The 1920 Walking Liberty Half Dollar and the 1920 Standing Liberty Quarter round out a thematic 1920 type set that tells the story of American coinage at the dawn of the Jazz Age.

Common Misconceptions About 1920 Wheat Cents

A few myths circulate persistently in collector communities and online marketplaces.

Myth: All 1920 cents are worthless. A circulated Philadelphia example is worth maybe fifty cents. But a 1920-P in MS-67 Red sold for $16,800. Condition is everything.

Myth: No mint mark means rare. Philadelphia struck over 310 million 1920 cents. No mint mark on a Wheat Penny almost always means common, not scarce. The rare “No D” story belongs to 1922, not 1920. Read more about that coin in our 1922 Lincoln Wheat Penny value guide.

Myth: The S mint mark makes it the rarest 1920 cent. San Francisco actually had a higher mintage than Denver. The 1920-D is the scarcest of the three in circulated grades.

Myth: Copper melt value makes these worth holding as metal. At roughly $0.10 in copper content, these coins’ value is numismatic. Melting U.S. cents is also illegal.

Myth: Cleaned coins are fine if they look shiny. Cleaning destroys surface quality and dramatically reduces value. A cleaned MS-65 coin may grade no better than AU-50 once the cleaning is detected.

Selling Your 1920 Lincoln Wheat Cent

If you have inherited a collection, found coins in an estate, or simply decided to move pieces you no longer want, knowing how to sell matters as much as knowing what you have.

For common circulated examples, eBay and local coin shows are practical options. For gem uncirculated coins, error varieties, or slabbed pieces, major auction houses and specialist dealers offer the best exposure to serious buyers.

Accurate Precious Metals buys coins – both numismatic and bullion – along with gold, silver, platinum, jewelry, and more. With over a decade of experience and more than 1,000 five-star reviews, we offer straightforward, transparent evaluations. Our team assesses coins thoroughly and provides honest offers based on current market conditions.

If you are local to Salem, Oregon, visit us in person at our physical location for a face-to-face evaluation. If you are anywhere else in the United States, our mail-in service makes it easy to send coins and other precious metals safely. We provide insured shipping with the mail-in kit, and payment is fast once your items are received and assessed.

Our guide to selling silver coins online walks through the process in detail for anyone new to selling through a dealer. For coins with potential numismatic value, it is always worth getting a professional opinion before accepting the first offer you receive.

Whether your 1920 Lincoln Wheat Cent is a worn filler or a gem Red survivor, AccuratePMR.com is the right place to start – for buying, selling, or simply getting a second opinion on what you have.

Frequently Asked Questions

Sources

1. YouTube – 1920 Lincoln Wheat Penny History, Value, and Rarity Explained
2. Coins and Bills – 1920 Wheat Penny Value Guide
3. Bullion Sharks – 1920 Wheat Penny Values and Information
4. PCGS CoinFacts – 1920 Lincoln Cent
5. Greysheet – 1920 Lincoln Cent Price Guide
6. CoinCollecting.com – Lincoln Wheat Pennies Key Dates and Values