When you find a 1958 penny in your hunting ventures, one of the first things you would want to know about it is its value. The good news is that even the circulated 1958 pennies that have taken a good beating still have significant worth.
The average value of the 1958 wheat penny coin is $0.1 to $8. While the coin is not rare because there was a massive production this year, it is desirable among many collectors. Moreover, some 1958 wheat pieces in uncirculated condition can fetch a good value.
Whether you are trying to figure out what a 1958 Wheat Penny Coin looked like or want to know the average value of the coin, you have come at the right price. There are many things to learn about the 1958 wheat penny value.
The 1958 Wheat Penny
The 1958 wheat penny is over 50 years old in minting history, producing over 25,787,656,675 of 1958 wheat penny coins. 1958 was the last year to produce this coin, after which it acquired a new design.
The Design Of The 1958 Wheat Penny
The designer Victor D. Brenner is behind the 1958 Lincoln Penny design. He created the coin with former president Abraham Lincoln's image in the coin with the inscription of IN GOD WE TRUST above Lincoln's head. Further, he added the word liberty on Lincoln's left with the mint mark and date on the right.
The coin reverse includes a huge, centrally placed lettering of "ONE CENT," Below it, you can notice the inscription "UNITED STATES OF AMERICA" surrounded by two wheat stalks on both sides.
Additional details of the 1958 wheat penny design are summarized in the table below.
|$0.01 (one cent)
|5% tin or Zinc and 95% copper
1958 Lincoln Penny Types
The Lincoln penny types are based on the different mints involved in their production. However, it is essential to note that there are no significant differences between the 1958 Lincoln penny types produced in different mints. The only differentiating feature is the mint mark placed under the date. The Philadelphia and the Denver are the two mints that produced wheat pennies this year. The Denver produced pennies with a D mint mark, while the Philadelphia pennies did not have a particular mint mark.
1958 D Wheat Penny Value
The 1958 d wheat penny is a product of Denver mint. In that year, the Denver mint produced 800,953,000. Since the design of the 1958 d wheat penny changed the following year, most of them remained uncirculated. Therefore, the coin is available in the mint state.
Since a lot of the 1958 d wheat pennies were produced by the state of Denver this year, their value is relatively low, ranging between $0.12 and $0.15.
1958 D Wheat Penny Error Value
The 1958 d wheat penny is one of the rarest penny errors, valued at about $ 200,000. Of the three examples known to exist, only two of them have been officially graded by PCGS.
Doubling is conspicuous on the obverse of the 1958 d wheat penny. The elements "LIBERTY" and "IN GOD WE TRUST" show significant overlapping and doubling. Most doublings observed in many double-die coins are not as intensive as in the 1958 d wheat penny error example.
The doubling errors occurred when the dye used to make the coin contained double elements of the herb used to make the die. While the doubling is subtle in most cases, in some rare instances, it can be pretty significant, like in the case of the 1958 d wheat penny error.
1958 Wheat Penny Value no Mint Mark
The Philadelphia 1950 wheat penny did not have a mint mark. Nonetheless, its value remains the same as that of a 1958 wheat penny with mint marks on them. Notably, the Philadelphia variety is abundant due to the change in design in the following year, implying that most of the already produced pennies remained uncirculated.
The 1958 Wheat Penny Grading
When examining the 1958 wheat penny value, there are three critical deciding factors that you need to check. They include;
- The condition
- The date
- Mint mark.
If you are dealing with a coin that is not rare, the most decisive factor is the condition. Start by checking the date and the mint, the condition of the coin, and finally, the possible errors and characteristic details of the coin. Here are the four statuses of a coin that you should know.
As the name suggests, the uncirculated condition has never been circulated, and therefore, there are no damages to its condition. In other words, these are the coins in the flawless mint state. One feature that makes the coins in this state highly valuable is that they have an intact luster with no traces of wear on their coin surface.
The extra fine shows that the coin has been in circulation for a short period and is therefore in perfect condition. You can quickly identify a coin in this status by paying close attention to Lincoln's portrait. Some of the details you will observe are slight wear on his face, coat edges, and hair. Nonetheless, the lines on the wheat stalks should be distinctly visible.
A 1958 wheat penny in fine condition has been in circulation for a long time. Consequently, you will see numerous signs of tear and wear over the coin's surface. While the 1958 wheat penny is not severely damaged at this stage, it does not have a sensual luster.
A 1958 wheat penny in this condition is at its lowest as the coin is severely damaged with several scratches and tremendous signs of wear on its surface. In other words, when examining a coin in this condition, the chances are that you are not likely to recognize some of the essential characteristics of the coin, including the mint mark, the date, and most lettering inscriptions.
How To Organize Your Coins
Whether a seasoned coin collector or a beginner, knowing how to organize your coin is crucial for advancing your hobby. Besides, ensuring that your coin collection is well-organized and inventoried can save you a lot of time whenever you want to retrieve them. Here are some reasons to organize your coins well;
- Know which coins you have in your collection
- Determine which coins are missing in your inventory so that you can plan on their hunting
- Organizing your coins well is a reliable way of determining the value of your coins fast and easily
- When you get a glance at your coin collection, you feel a sense of accomplishment
- Document your coin collection for insurance purposes
Although you may need to be as creative as possible when creating an inventory for your coin collections, there are several criteria that you would want to consider, which include;
- Mint mark
- Purchasing price
- The number of coins you have sold
- The date you sold a coin
- Any updates on the value of the coin
In addition to taking note of these details, you can embrace other proven ways of organizing your coin collection. Some of these ways may include using a checklist, creating a simple spreadsheet designed for your specific needs, and purchasing computer software to assist with organizing the coin. The use of computer software is critical, especially if you have an extensive coin collection.
The 1958 wheat penny is easily accessible, meaning its value is not very high. However, if you are out to collect some 1958 wheat pennies, the best option would be to go for those in an uncirculated condition. This coin's value may increase in the future, so keeping it in your inventory is an excellent investment.
Shawn Manaher loves to play with new toys and dive into new hobbies. As a serial entrepreneur, work definitely comes first but there is always room for hobbies.