The 1958 Lincoln penny, also known as the Wheat Penny, is notable for being the last year of the Wheat design before transitioning to the Lincoln Memorial design in 1959. Here’s a comprehensive value guide for the 1958 Lincoln penny:
General Overview
Mintage: Over 252 million coins were minted at the Philadelphia Mint, and 800 million at the Denver Mint.
Composition: Made of 95% copper and 5% zinc and tin.
Design: Features Abraham Lincoln on the obverse and two stalks of wheat on the reverse.
Value Ranges
Circulated Condition: In general, circulated 1958 Lincoln pennies are worth only a few cents above face value.
Uncirculated Condition: Uncirculated examples can be valued higher, typically around $0.15 to $0.20.
High-Grade Examples:
MS64RD: These coins can sell for around $2,000 to $9,000, depending on their condition and market demand.
Top Auction Record: A 1958 Wheat Penny in MS67+RD condition has auctioned for as much as $336,000.
Error Coins:
The 1958 Doubled Die Obverse (DDO) is particularly valuable, with some examples fetching prices upwards of $336,000 due to the noticeable doubling on the obverse.
The 1958 Lincoln penny is a valuable collectible, especially in uncirculated condition or as a rare error coin. Collectors should look for high-grade specimens and be aware of the potential for significant value in the right circumstances.