You may have found a bunch of old coins in your old drawers, nearby park, or forgotten box. If one or more of those is a Lincoln cent from 1954 and you want to learn more about it, you have come to the right page.
Whether you are looking to sell or buy this coin, continue reading to find out about the 1954 wheat penny value and other related useful information you may need.
1954 Wheat Penny Details
- Category – Wheat pennies
- Mint – Philadelphia, Denver, and San Francisco
- Mintage – 418 000 000
- Obverse designer – Victor David Brenner
- Reverse designer – Victor David Brenner
- Composition – 95% copper, 5% zinc and tin
- Weight – 3.11 grams (0.10 ounces)
- Diameter – 19 mm (0.75 inches)
A penny from 1954 belongs to the category of wheat pennies, named after the design on the reverse side of the coin which features two branches of wheat.
This coin is also known as the Lincoln cent because of the obverse design which features a portrait of the ex-president of the US, Abraham Lincoln.
The US mint produced a staggering 418 million of these pennies in 1954 across three locations – Philadelphia, Denver, and San Francisco.
The wheat penny from 1954 is made almost entirely out of copper which gives it that red-brownish color. The remaining 5% of the material is zinc and tin.
It weighs a little over 3 grams and is 19 millimeters in diameter, so it is one of the smaller coins.
Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)
1954 Wheat Penny Value Chart
Since the US mint made almost half a billion wheat pennies in 1954, you can assume that they are not rare at all. In fact, they are practically worthless unless you have one or more in perfect condition.
Even in this case, don’t expect to get rich. The price of a wheat penny ranges from only one cent to around ten dollars at most.
The majority of these coins are worth less than a dollar though because they have been heavily used over the past several decades so it’s difficult to find the ones in the perfect mint state that would sell for more than that.
| Condition | 1954 Wheat Penny No Mint Mark Value | 1954 Wheat Penny D Mint Mark Value | 1954 Wheat Penny S Mint Mark Value |
| Poor | $0.01 – $0.02 | / | $0.01 – $0.02 |
| Fair | $0.02 – $0.03 | / | $0.02 – $0.03 |
| About Good | $0.03 – $0.04 | / | $0.03 – $0.04 |
| Good | $0.05 – $0.07 | $0.01 – $0.03 | $0.05 – $0.06 |
| Very Good | $0.07 – $0.10 | $0.03 – $0.05 | $0.06 – $0.07 |
| Fine | $0.10 – $0.15 | $0.05 – $0.010 | $0.07 – $0.08 |
| Very Fine | $0.15 – $0.30 | $0.10 – $0.20 | $0.08 – $0.10 |
| About Uncirculated | $0.30 – $0.50 | $0.20 – $0.50 | $0.10 – $0.50 |
| Mint State (60-64) | $0.50 – $1 | $0.50 – $1 | $0.50 – $1 |
| Mint State (65+) | $1 – $10 | $1 – $3 | $1 – $5 |
1954 Wheat Penny Value & Varieties Guide
Wheat penny was produced in three locations of the US mint branches in 1954. These are Philadelphia, San Francisco, and Denver.
Therefore, there are three varieties of this coin you should know about. Let’s talk more about them.
1954 No Mint Mark Wheat Penny Value
- Type – wheat penny
- Edge – plain
- Mint mark – no mint mark
- Place of minting – Philadelphia
- Year of minting – 1954
- Face value – 1 cent
- Price – $0.01 – $10
- Quantity produced – 71 000 000
- Designer – Victor David Brenner
- Composition – 95% copper, 5% zinc and tin
- Mass – 3.11 grams (0.10 ounces)
- Diameter – 19 mm (0.75 inches)
The first variety of wheat penny from 1954 the one that comes from Philadelphia. Since the mint of Philadelphia didn’t use mint marks at the time, you will not find one on your Lincoln cent from that year.
There were 71 million pennies produced in 1954 in the Philadelphia mint. That wasn’t so long ago and this is a huge number of coins, so they are highly common. Therefore, the value of the 1954 wheat penny is not high.
That being said, you would be lucky if you got more than the face value of this coin, which was only one cent. The better-preserved pennies in amazing condition could reach the price of $10, but you probably can’t expect anything more than that.
1954 D Mint Mark Wheat Penny Value
- Type – wheat penny
- Edge – plain
- Mint mark – D mint mark
- Place of minting – Denver
- Year of minting – 1954
- Face value – 1 cent
- Price – up to $3
- Quantity produced – 251 000 000
- Designer – Victor David Brenner
- Composition – 95% copper, 5% zinc and tin
- Mass – 3.11 grams (0.10 ounces)
- Diameter – 19 mm (0.75 inches)
Since the mint of Philadelphia is the main mint in the country, it usually produces the most, when not all coin series. However, the year 1954 was different, as Denver produced almost four times more wheat pennies than Philadelphia.
Around 250 million coins came out of Denver in 1954. This is a quarter of a billion coins that were put into circulation, so you can imagine that they are even more common than the previous variety we talked about.
Consequently, you will be lucky if you get even one cent for the coins that are in poor condition. Collectors are just not interested since they are so widely spread and available.
If you have a D wheat penny from 1954 that is in perfect condition, you may get several dollars for it, but probably not more than that.
1954 S Mint Mark Wheat Penny Value
- Type – wheat penny
- Edge – plain
- Mint mark – S mint mark
- Place of minting – San Francisco
- Year of minting – 1954
- Face value – 1 cent
- Price – $0.01 – $5
- Quantity produced – 96 000 000
- Designer – Victor David Brenner
- Composition – 95% copper, 5% zinc and tin
- Mass – 3.11 grams (0.10 ounces)
- Diameter – 19 mm (0.75 inches)
The last type of the 1954 wheat penny is the one produced in San Francisco. This city made around 96 000 000 Lincoln cents that year. This number is somewhere between the two other mints.
The prices of the coin reflect that. They start at around one cent for the coins in bad condition if you find someone interested in buying them. The mint state coins can reach the price of around $5.
Keep in mind that grades 67, 68, 69, and 70 are extremely rare. The coins that get this grade can be sold for thousands of dollars even if their bad-condition counterparts are worth only a couple of cents.
1954 Wheat Penny History
A penny is a coin with one of the longest histories in the US. It was first put into circulation right after the US mint was opened in 1792. The first pennies were made entirely out of copper and were significantly larger than nowadays.
The US penny changed a lot of designs throughout history. Generally, liberty is one of the running themes in all the designs, with the first penny featuring a woman whose hair is flowing around her.
Later on, the penny started featuring Lady Liberty which was later replaced with just the word LIBERTY.
When it comes to wheat pennies, their history starts in 1909. This was the year of the hundredth anniversary of Abraham Lincoln’s birthday. The US mint wanted to honor his life and commitment to the country, but they didn’t plan for this design to stick around for this long.
However, the citizens loved the new pennies so the design created by Victor David Brenner is still used on the obverse side of the coin nowadays.
It also makes absolute sense that Lincoln has his own coin as he is to this day one of the most important and celebrated figures in United States history.
1954 Wheat Penny Appearance
The wheat penny, or Lincoln cent, is one of the most admired coins in US history. It’s no wonder considering the fact that it features an important historical figure and symbols that represent the strengths and values of this country.
The front side of the coin is reserved for a portrait of Abraham Lincoln. It is engraved in the center of the coin.
On top of the penny, you can see the words IN GOD WE TRUST. The left side features the word LIBERTY and the right side the year, 1954. Right below the year is also a mint mark if the coin was produced in Denver or Philadelphia.
The reverse side of the coin has two branches of wheat symmetrical to each other on the left and the right side of the penny.
Above them are the words ET PLURIBUS UNUM, the US motto. At the center of the back side are the words ONE CENT and right below them UNITED STATES OF AMERICA.
1954 Wheat Penny Grading
If you need to grade your 1954 wheat penny I would recommend that you go to someone knowledgeable and experienced in the topic.
However, you should know that this coin is evaluated based on its overall appearance, how well-preserved it is, and how clearly visible all of the elements are, among other factors.
The coin can get a grade from 1 to 70, with 1 being the worst and 70 indicating the best condition of the coin.
Naturally, the better the grade, the higher the price of the coin is.
List of 1954 Wheat Penny Errors
We discussed how the pennies produced in 1954 are almost invaluable unless they get one of the highest grades on a scale of 1 to 70. However, some other things can increase the price of this coin.
These are the errors that occur during the minting process. Since these rarely happen and the faulty coins are usually not put into circulation, the errored pennies can be very rare and therefore, extremely valuable.
Let’s look at some of the possible mistakes that might have happened to your coins in the mint.
1954 Wheat Penny Repunched Mint Mark
This error can occur on coins that have mint marks, so those made in Denver and San Francisco.
During the minting process, the factory may accidentally engrave a mint mark twice. This mistake is only sometimes clearly visible, so you may need to use special equipment to check if it exists.
The easier way is to take it to someone who deals with coins as they will be able to accurately evaluate whether this error exists or not.
If you happen to have a 1954 wheat penny with a repunched mint mark, it can be worth much more than the regular version. These have been sold for hundreds of dollars, so make sure to thoroughly investigate your coin before selling it.
1954 Wheat Penny BIE Error
This error is particularly interesting to collectors and investors. It is also fairly easy to spot, so be on the lookout for it.
It is a factory mistake in which the factory accidentally put the letter I before B and E in the word LIBERTY, hence the name of the error.
This mistake is commonly known as a die break, but it has a unique name for this coin because it happened at a specific place on the coin.
1954 Wheat Penny FAQ
Is a 1954 wheat penny rare?
No, a wheat penny from 1954 is not rare at all. The US mint produced almost half a billion of these coins so they are still easily accessible on the market.
What is the error on the 1954 D wheat penny?
There are several potential errors on the 1954-D wheat penny. One of them is a repunched mint mark, in which the mint mark D was engraved more than once.
Another famous error of this coin is the die break in the word LIBERTY on the obverse side of the coin. It is also known as BIE die break because there is an I between the letters B and E in this word, resulting in LIBIERTY.