The 1933 Lincoln Wheat Penny is one of the most fascinating coins in American numismatics. While many collectors focus on the 1909-S VDB or the 1914-D, the 1933 penny holds its own mystery and allure. Despite being a relatively modern coin, it has gained attention for its unusual production history, scarcity, and intriguing backstory. In this article, we’ll dive into the history, design, mintage figures, known values, and the overall significance of the 1933 Wheat Penny.
History of the Lincoln Wheat Penny
The Lincoln Wheat Penny, also known as the Lincoln Cent, was first minted in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. Designed by Victor David Brenner, it was the first U.S. coin to feature a real person and became one of the most iconic coins in American history.
From 1909 to 1958, the coin’s reverse featured two wheat ears, giving it the nickname “Wheat Penny.” After 1958, the design was changed to feature the Lincoln Memorial.
What Makes the 1933 Lincoln Wheat Penny Special?
Unlike many other years, the 1933 Lincoln Penny was minted during the Great Depression. While it may not have the ultra-low mintage of the 1909-S VDB, there’s an intriguing detail about the 1933 penny: it was never officially released into general circulation.
Only Philadelphia Mint produced pennies in 1933, and official records indicate a mintage of 14,360,000 coins. However, these were largely struck for administrative purposes, not public distribution. Most were used internally or destroyed, making surviving specimens relatively scarce in higher grades.
There are no known 1933-D or 1933-S Wheat Pennies because the Denver and San Francisco mints did not produce pennies that year.
Design Details
- Obverse: Features the bust of President Abraham Lincoln, facing right. The word “LIBERTY” appears on the left side, and the year “1933” is stamped on the right.
- Reverse: Shows two wheat stalks surrounding the inscriptions “ONE CENT” and “UNITED STATES OF AMERICA.” Above is the motto “E PLURIBUS UNUM.”
- Designer: Victor David Brenner
- Composition: 95% Copper, 5% Tin and Zinc
- Diameter: 19.05 mm
- Weight: 3.11 grams
Mintage and Surviving Population
Though 14.3 million coins were technically minted, the surviving population is significantly smaller due to the lack of circulation and hoarding behavior during the Depression. As a result:
- Circulated examples are uncommon but can be found.
- Uncirculated or high-grade specimens (MS63 and above) are very rare and valuable.
- Proof coins were not struck in 1933.
How Rare Is the 1933 Wheat Penny?
The 1933 penny is not as rare as some key-date coins, but it’s certainly less common than pennies from surrounding years. Its rarity lies not in its mintage, but in the unusual circumstances surrounding its distribution.
Collectors have long speculated whether the 1933 pennies were struck but never officially released. This mystery has only added to the coin’s popularity. In recent years, its scarcity in mint state condition has driven up collector demand.
1933 Lincoln Wheat Penny Value
Here is a general price guide for the 1933 Lincoln Wheat Penny as of 2025:
| Grade | Estimated Value |
|---|---|
| Good (G-4) | $2 – $5 |
| Fine (F-12) | $6 – $10 |
| Very Fine (VF-20) | $12 – $20 |
| Extremely Fine (EF-40) | $25 – $35 |
| About Uncirculated (AU-50) | $50 – $75 |
| Mint State (MS-60 to MS-63) | $100 – $250+ |
| MS-65 or Higher | $350 – $1,000+ |
The value can vary depending on the coin’s luster, color (red, red-brown, or brown), and overall eye appeal. Red Mint State (MS65 RD) examples are particularly prized.
Auction Records
Over the years, high-grade 1933 Lincoln Wheat Pennies have fetched notable prices at auction:
- In 2019, an MS-66 Red 1933 penny sold for $4,320 at Heritage Auctions.
- A MS-67 Red has been graded by PCGS but is extremely rare and could easily exceed $5,000 to $7,000 if sold today.
Tips for Collectors
If you’re looking to add a 1933 Lincoln Wheat Penny to your collection, consider the following:
- Buy from reputable dealers: Many counterfeits and altered date coins exist, especially in online marketplaces.
- Verify the grade: Coins graded by NGC or PCGS offer a guarantee of authenticity and consistent grading standards.
- Consider eye appeal: Even among coins of the same grade, one with better luster or fewer marks can be significantly more desirable.
- Store properly: Use coin holders, capsules, or albums that prevent exposure to air and moisture.
Is the 1933 Lincoln Penny a Good Investment?
For collectors focused on rarity and long-term value, the 1933 penny is a solid choice. It’s not as over-hyped as some key dates, yet its scarcity in high grades makes it a desirable coin. As more collectors seek to build complete Lincoln cent sets, demand for 1933 specimens—especially in Mint State—will likely grow.
That said, like all collectibles, coin values can fluctuate based on market demand and economic conditions. Always diversify your investments and consider consulting a numismatic expert before making significant purchases.
Fun Facts
- The 1933 penny is often confused with the 1933 British penny, which is extremely rare and worth over $100,000.
- President Franklin D. Roosevelt took the U.S. off the gold standard in 1933, affecting the entire U.S. monetary system and leading to changes in coin production and policy.
Final Thoughts
The 1933 Lincoln Wheat Penny is a compelling piece of U.S. coinage history. It may not be the rarest Lincoln cent, but its low survival rate in high grades, combined with the mystery of its limited distribution, makes it a highly collectible coin. Whether you’re a casual collector or a seasoned numismatist, owning a 1933 penny is like holding a small piece of Depression-era America in your hands.
As always, do your research, buy smart, and enjoy the journey of coin collecting.