President Lincoln holds a special place in the hearts of Americans. He did not only unite the country but also ended the traditional practice of slavery. To honor him for his great efforts, he is still featured on the penny coin.
The coin value is equal to $0.01. So, while it has great historical significance, you can’t buy much from it. But what if you had an antique 1929 Wheat Penny?
Well, if you enter the world of coin collectors, the 1929 Wheat Penny value ranges from $0.20 to $5,000. In some cases, it might increase to $8,000!
Let’s discover more about this wonderful antique in the post below!
1929 Wheat Penny Value Details
- Category: Lincoln Wheat Penny
- Mint: Philadelphia, Denver, and Sans Francisco
- Mintage: 277,140,000
- Obverse Designer: Victor David Brenner
- Reverse Designer: Victor David Brenner
- Composition: 95% Copper, 5% Tin, and Zinc
- Diameter: 19mm
- Edge: Smooth
- Weight: 3.11 grams
Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)
1929 Wheat Penny Value Chart
| Mint Mark | Good | Extremely Fine | MS-60 | MS-67 |
| 1929 No Mint Mark Wheat Penny Value | $0.20 to $0.25 | $3 | $7 to $12 | $1,500+ |
| 1929 “D” Mint Mark Wheat Penny Value | $0.35 to $0.50 | $6 | $25 | $2,600+ |
| 1929 “S” Mint Mark Wheat Penny Value | $0.50 to $0.75 | $6.50 | $22 to $28 | $8,300+ |
*Please note that no proof-grade coins were produced for the 1929 Wheat Penny.
1929 Wheat Penny Value and Varieties
1929 (P) No Mint Mark Wheat Penny
- Type: Lincoln Wheat Penny
- Edge: Smooth
- Mint Mark: No Mint Mark
- Place of Minting: Philadelphia
- Year of Minting: 1929
- Face Value: $0.01
- Price: $0.20 to $1,500+
- Quantity Produced: 185,262,000
- Designer: Victor David Brenner
- Composition: 95% Copper, 5% Tin, and Zinc
- Mass: 3.11 grams
- Diameter: 19mm
Although all 1929 wheat pennies were manufactured for business transactions, you will find the Philadelphia mintage most commonly and easily available today. This is because the total quantity of coins produced at the Philadelphia facility was over 185 million.
These coins don’t have any mint marks on the reverse side. Plus, since they were the most abundant, they are usually in bad condition. There are several scratches and marks on the coin, with Lincoln’s portrait almost flattened.
So, there are two main features of a 1929 P wheat penny; lack of mint mark and very poor condition. You can easily find it on online selling platforms like eBay and Etsy. The average value will range from $0.20 to $0.25.
Even if the coin is in extremely fine condition, it will have light to moderate damage. The original shine of the coin will be almost non-existent. You can find it for $3 or so.
However, there are a few specimens of 1929 P no mint mark wheat pennies that were preserved by the collectors. These uncirculated coins have a worth of between $7 to $1,500+. The highest value (as per NGC) is $1,700 for MS-67 1929 P wheat penny.
1929 D Mint Mark Wheat Penny
- Type: Lincoln Wheat Penny
- Edge: Smooth
- Mint Mark: D Mint Mark
- Place of Minting: Denver
- Year of Minting: 1929
- Face Value: $0.01
- Price: $0.35 to $2,600+
- Quantity Produced: 41,730,000
- Designer: Victor David Brenner
- Composition: 95% Copper, 5% Tin, and Zinc
- Mass: 3.11 grams
- Diameter: 19mm
The rarest coin in the 1929 wheat penny series is the D mint mark one. It has a small D embossed on the obverse side of the coin, which represents its production at the US Denver mint. A total of 41 million coins were in the mintage.
So, although there are many still available, the values are much higher than a typical no-mint mark coin. You can find a 1929 D mint mark Lincoln wheat penny in good condition for $0.35 to $0.50. That’s a 15 to 25-cent difference!
However, if you jump to extremely fine coins, their value will double. It’s primarily because collectors usually prefer better condition coins and are willing to pay higher prices. You should expect to find an XF 1929 D mint mark wheat penny for at least $6 each.
With that said, uncirculated pennies in mint state are worth hundreds of dollars. The average price for MS-65 grade 1929 D wheat penny is between $250 to $500. According to NGC, the highest grade recorded is MS-66.
This grade is near-perfect, which means the coin has negligible damage and the design is well-preserved. The MS-66 Red 1929 D wheat penny specimen was sold for $2,650 in 2018.
1929 S Mint Mark Wheat Penny
- Type: Lincoln Wheat Penny
- Edge: Smooth
- Mint Mark: S Mint Mark
- Place of Minting: San Francisco
- Year of Minting: 1929
- Face Value: $0.01
- Price: $0.50 to $8,300+
- Quantity Produced: 50,148,000
- Designer: Victor David Brenner
- Composition: 95% Copper, 5% Tin, and Zinc
- Mass: 3.11 grams
- Diameter: 19mm
With a little over 50 million coins, the San Francisco mint produced a fairly large number of wheat pennies in 1929. You can find plenty of circulated specimens just like the other coin varieties.
But, for some reason, the value of the 1929 S mint mark is much higher. The starting price of a good-condition coin is $0.50. This increases to $2.50 in very fine condition and $6.50 in extremely fine condition.
Please note that fine coins don’t have a well-defined portrait. Almost all high-relief areas of Lincoln’s portrait are flattened. Comparatively, extremely fine coins have slight wear with the majority of details clearly visible (especially Lincoln’s hair).
If you explore the uncirculated versions of 1929 S mint mark coins, you will see that the value is between $14 to $400. Coins with higher grades (MS-65+) are worth thousands of dollars. For example, in 2014, NGC auctioned an MS-66 Red 1929 S coin for $5,100.
In 2017, NGC auctioned an MS-67 1929 S mint mark wheat penny for $8,300. To date, this is the highest value recorded for this particular specimen. However, if your coin has a deformity or even better condition, it can be sold for much higher prices than this.
1929 Wheat Penny History
The 1929 wheat penny has a special place in American history. The copper coin featured the original Lincoln cent design created by Victor D. Brenner in 1909. He was the same sculptor who was appointed to design the Panama Canal Commission medal.
On the obverse side, the penny showcases a detailed side portrait of the 16th president of the United States of America – Abraham Lincoln. Above his head, the phrase In God We Trust is inscribed. There is also the embossed word Liberty on the left side and the year 1929 on the right side.
The reverse side of the coin is much simpler with two wheat stalks around the words the United States of America and One Cent. On the top, the Latin phrase E Pluribus Unum is inscribed in small font.
From 1909 to 1958, this design was minted at all US mints. However, in 1929, the Philadelphia mintage was 185,262,000, the Denver mintage was 41,730,000, and the San Francisco mintage was 50,148,000. Overall, the quantities produced were massive.
However, these coins were heavily used by the people. Firstly, it was because Lincoln’s portrait served as a ray of hope during the Great Depression. Secondly, since the penny has the cheapest value, people preferred using it more than other coins.
Since no proof-grade coins were minted, people hardly paid attention to collecting either. All this means that the majority of surviving 1929 wheat pennies are circulated and badly damaged. It is difficult to find one in well-preserved conditions, which makes it a high-interest item amongst numismatists.
An interesting fact about these coins is that 1929 was one of the last years in which the pennies were made from 95% copper. In 1941, the US government shifted the composition to steel due to copper and silver shortages.
1929 Wheat Penny Grading
There is only one way to decide whether a 1929 wheat penny should be collected or not. You check the value of the coin, and since valuation depends on the grade, it’s important to learn about this useful skill too.
Grading refers to assigning a grade to the coin based on its preservation, strike, luster, appeal, and color. For example, if a 1929 wheat penny has greatly preserved details, brilliant red shine, and no damage under a magnifying glass, it will be graded MS-70 (perfect grade).
However, this hasn’t happened yet because all 1929 wheat pennies were in circulation. You can find MS-67 specimens but hardly any of MS-70. Learn more about the 1929 wheat penny grading in this video below!
List of 1929 Wheat Penny Errors
1. 1929 Wheat Penny Double Die
The double die error is quite common in 1929 wheat pennies. It features overlapped lines and misaligned patterns that result from the coin being struck twice. The double striking distorts the entire design.
You can typically find this error on the obverse side of the 1929 wheat penny. Specimens with this error are worth hundreds and even thousands of dollars.
2. 1929 Wheat Penny Off-Center
The 1929 wheat penny off-center error is another famous rarity among collectors. This error occurs when the coin is struck off-center, which results in a misalignment of lines or a completely blank area on the cent.
Off-center errors can vary in severity, with some coins featuring only slight misalignment and others showing a significant blank area. You can find some 1929 wheat pennies with this error too. However, note that 65% of off-center pennies are more valuable than the rest.
3. 1929 Wheat Penny Repunched Mint Mark
The repunched mint mark error is very similar to the double die. But the only difference is that this error is limited to the mint mark and not the whole design. If your coin has visibly been punched more than once, you should consult a professional coin appraiser.
In circulated condition, a 1929 wheat penny with this error values at $45+. Uncirculated coins have a much higher value. To give you an idea, a 1929 repunched mint mark wheat penny (MS-65) was auctioned for almost $2,000!
4. 1929 Wheat Penny Broad struck
The 1929 wheat penny broad struck error occurs when a cent is struck without the retaining collar in place. This results in a wheat penny that is larger in diameter and flatter than a standard coin.
You can find this error on both the obverse and reverse sides of the penny. The design typically extends to the edge. But, in some cases, it may move to one side of the coin and leave large blank areas.
5. 1929 Wheat Penny Lamination Flaw
A lamination flaw error occurs when the metal of the coin splits or peels away. This results in a thin layer of metal missing from the surface. There are several 1929 wheat penny lamination flaw specimens available today.
Some wheat pennies have the error on the obverse side, while others have it on the reverse side. In any case, this error is not rare. So, you should expect the value to be between $6 to $45.
This error can be seen on both the obverse and reverse sides of the penny, and the affected area may appear as a hole or a thin strip. Lamination flaw pennies from 1929 are not particularly rare, but they can still be valuable among collectors.
1929 Wheat Penny FAQs
How do I know if my 1929 penny is valuable?
You should examine the penny’s condition to determine whether it is valuable or not. A 1929 wheat penny in a well-maintained condition and bright, red luster is very valuable. It can easily sell for $250+.
Apart from that, an interesting error can also make the penny valuable. This may include a double die, a repunched mint mark, a lamination flaw, or any other error.
It’s always a good idea to consult a professional coin appraiser before selling your antique coin.
Is a 1929-S penny rare?
No, 1929-S pennies are not rare. They were produced in abundance (over 50 million) at the San Francisco mint. But, if the coin has an error, it will be considered rare.
Which wheat penny has the most value?
The most expensive Lincoln wheat penny is the 1943-D Bronze penny, which was auctioned for a whopping $840,000!
Some other similar value pennies include the 1944 Steel penny and 1909-S wheat penny.