The 1958 Wheat Penny is a highly sought-after coin among collectors, with its value being influenced by various factors such as rarity, condition, and mintmark. This guide will provide an in-depth look at the value of the 1958 Wheat Penny, including rare errors, “D” and no mint mark varieties. Additionally, it will cover the history, features, and production numbers of this coin, as well as tips on how to determine its value and frequently asked questions. Whether you’re a seasoned collector or just starting out, this guide will provide valuable information on the 1958 Wheat Penny.
A 1958 “No Mint Mark” penny is worth about $0.05 in good condition but can go up to $1 if uncirculated. The 1958 “D” Wheat Penny is generally worth around $0.06 but can rise to $1 in pristine condition. The real standout is the 1958 “Proof” Wheat Penny, crafted especially for collectors, which can be worth $4 to $9 depending on its condition.
1958 Wheat Penny Value Chart
|$0.3 – $1
|$0.3 – $1
|$5 – $9
1958 Wheat Penny Coin Information
- Type: Lincoln Wheat Penny
- Country: United States
- Year: 1958
- Face Value: 1 Cent
- Metal Composition: 95% Copper – 5% Tin, Zinc
History of the 1958 Wheat Penny
The 1958 Wheat Penny is a significant coin in the history of United States coinage. The Wheat Penny, also known as the Lincoln Wheat Cent, was first issued in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. The coin features a portrait of Lincoln on the obverse and two ears of wheat on the reverse. The Wheat Penny was in circulation for over 50 years and was replaced by the Lincoln Memorial Cent in 1959. The 1958 Wheat Penny was the last year of issue for the Wheat Penny series.
Production and Mintage Numbers
The 1958 Wheat Penny had a total mintage of over 1 billion coins, with the majority of them being produced at the Philadelphia mint, which did not carry a mintmark. 252,525,000 of these wheat pennies were minted in 1958 at the Philadelphia location. Additionally, a large number of coins were also produced at the Denver, which carry the “D” mintmarks. The 1958 Wheat Penny is considered to be a common date coin, with most examples being readily available in the market. However, certain varieties, such as the 1958 “D” Wheat Penny, can be harder to find and therefore, more valuable. Additionally, certain errors, such as double die errors, can also have a big impact on the coin’s value.
The 1958 wheat penny with no mint mark was made at the US Mint location in Philadelphia, Pennsylvania. There were 252,525,000 of these wheat pennies minted in 1958 at this location. The 1958 wheat penny with the mint mark “D” was made in Denver, Colorado, at that US Mint location. There were 800,953,300 of these coins minted this year, which brings the total of pennies produced this year to over one billion.
Lastly, there were Proof wheat pennies were produced at the Philadelphia US Mint location. Proof coins are coins that have been specially made for collectors with a much higher degree of quality and detail. You can recognize them by their mirror-like surface. Usually, there are around 500 to 1000 Proof coins made each year, and they are kept back from business circulation in order to preserve their quality. This year, there were 875,652 1958 wheat pennies minted.
Features of the 1958 Wheat Penny
The 1958 Wheat Penny is a coin with a rich history and unique features that make it a valuable addition to any collection. Understanding these features is important for determining the value and authenticity of the coin.
The obverse of the 1958 Wheat Penny features a portrait of Abraham Lincoln, the 16th President of the United States. The image is a bust of Lincoln facing to the right, with the inscriptions “LIBERTY” and the date “1958” above the portrait and “IN GOD WE TRUST” below it.
The reverse of the 1958 Wheat Penny features two ears of wheat, with the inscriptions “UNITED STATES OF AMERICA” and “ONE CENT” above and below the wheat. The wheat ears are encircled by a chain of 46 stars, representing the number of states in the Union at the time of the coin’s issuance.
Mint Marks and Locations
The 1958 Wheat Penny can have one of three different mint marks, depending on where it was produced. Coins produced at the Philadelphia Mint do not have a mint mark, while those produced at the Denver Mint have a “D” mint mark.
Size and Weight
The 1958 Wheat Penny has a diameter of 19.05mm and a weight of 3.11 grams. It is smaller and lighter than the current Lincoln Cent.
1958 Wheat Penny Value
The value of a 1958 Wheat Penny can vary greatly depending on several factors, including its condition, rarity, and mintmark.
1958 “No Mint Mark” Wheat Penny Value
A 1958 “No Mint Mark” Wheat Penny in good condition is typically worth around $0.05. However, if the coin is in Fine or Extremely Fine condition, its value can increase to three or thirteen cents, respectively. Uncirculated 1958 “No Mint Mark” Wheat Pennies can be worth from about 33 cents to $1, depending on the coin’s condition.
1958 “D” Wheat Penny Value
The value of a 1958 “D” Wheat Penny in good condition is typically worth around face value, which is one cent. However, if the coin is in Fine or Extremely Fine condition, its value can increase to five or thirteen cents, respectively. Uncirculated 1958 “D” Wheat Pennies can be worth from about 33 cents to $1, depending on the coin’s condition.
1958 “Proof” Wheat Penny Value
Proof coins are specially made for collectors with a much higher degree of quality and detail. They can be recognized by their mirror-like surface. The value of a 1958 “Proof” Wheat Penny can range from $4 to $6.5 depending on the coin’s condition. Uncirculated 1958 “Proof” Wheat Pennies can be worth around $9.
1958 Doubled Die Obverse (DDO) Wheat Penny Value
The 1958 Doubled Die Obverse (DDO) wheat penny is one of the most sought-after coins among collectors and investors due to its rarity and value. This coin is characterized by a visible doubling of the date and lettering on the obverse side of the coin, a result of a minting error where the die that strikes the coin was imprinted twice. There are only three known examples of this coin, making it one of the mega-rarities of the 20th century
The value of the 1958 Doubled Die Obverse (DDO) Wheat Penny is significantly higher than other valuable wheat pennies. On January 22, 2023, a 1958 DDO wheat penny in MS65 Red condition was sold by GreatCollections Auctions for a staggering $1,136,250, setting a world record price for a 1958 Doubled Die Lincoln Cent. Another notable auction record for this coin is $336,000 for an MS64RD example sold on March 21, 2018, by Stack’s Bowers.
The 1958 DDO wheat penny is a prime example of how minting errors can significantly increase the value of a coin. Collectors and investors are always on the lookout for these rare and valuable coins, as they can be a great addition to any coin collection or investment portfolio. Also, check out our guide on the 1977 penny value.
1958 Wheat Penny Error Coins
The 1958 Wheat Penny is also known for a variety of errors that can occur during the production process. These errors can have a significant impact on the coin’s value and make it even more valuable for collectors.
Types of Errors
This error occurs when the coin is not heated to the correct temperature during the annealing process, causing discoloration or other defects in the coin’s surface.
This error occurs when a portion of the planchet is missing before the coin is struck.
This error occurs when the coin is not properly aligned during striking, resulting in the design being off-center.
Repunched Mint Mark
This error occurs when the mint mark is punched into the coin twice, resulting in a double mint mark.
Struck on a Ten-Cent Planchet
This error occurs when the coin is struck on a planchet intended for a different denomination.
This error occurs when the die used to strike the coin has a double image, resulting in a double design on the coin.
How to Determine the Value of a 1958 Wheat Penny
Determining the value of a 1958 Wheat Penny can be a challenging task, but by following a few simple steps, you can get a good idea of its value.
Step 1: Identify the Date and Mintmark Combination
The first step in determining the value of a 1958 Wheat Penny is to identify the date and mintmark combination. Coins produced at the Philadelphia Mint do not have a mint mark, while those produced at the Denver Mint have a “D” mint mark. Knowing the mintmark and date combination is essential for determining the coin’s rarity and value.
Step 2: Judge the Condition to Identify the Grade
The next step is to judge the condition of the coin and identify its grade. Coins that are considered to be in excellent condition, or in the highest grade, are generally worth more than those in lower grades. Therefore, it is important to have a good understanding of coin grading and the different grades that exist when evaluating the value of a 1958 Wheat Penny. Some of the most common grades include Good, Fine, Very Fine, Extremely Fine, and Uncirculated.
Step 3: Look for Special Qualities Enhancing Value
The final step is to look for special qualities that may enhance the coin’s value. These can include errors such as double die errors, or other unique features
How much is a 1958 D Wheat Penny error worth?
The 1958 Lincoln Wheat Penny with the Doubled-Die Obverse Variety is considered to be a highly valuable coin. The estimated value of this coin in Uncirculated (MS+) Mint Condition can range from $134,490 to $219,521 or more. It is important to note that the value of this coin can be greatly influenced by its condition, rarity, and special characteristics, so it is important to consult with a coin expert or professional grader to determine the specific value of the coin.
What is the Most Valuable 1958 Wheat Penny?
The most valuable 1958 Wheat Penny is the double die error variety. This coin is considered to be highly valuable due to its rarity and unique characteristics. The estimated value of this coin in Uncirculated condition is up to $219,521.