The 1936 Lincoln Wheat Penny holds a special place in the hearts of coin collectors and history enthusiasts. Minted during a transformative period in American history, this penny not only represents the artistry of early 20th-century coinage but also offers significant value for collectors. Whether you’re new to numismatics or a seasoned collector, this guide explores everything you need to know about the 1936 wheat penny—from its history and design to its varieties, errors, and current market value.
History and Background
The Lincoln Wheat Penny, also known as the “Wheat Cent,” was first minted in 1909 to honor the 100th birthday of President Abraham Lincoln. It marked the first time a real person appeared on regular-issue U.S. coinage. The design was created by Victor David Brenner, with Lincoln’s profile on the obverse and two stalks of wheat framing the reverse—symbolizing prosperity and unity.
The 1936 penny comes from a decade marked by the Great Depression, with many Americans struggling financially. Still, the U.S. Mint produced a high volume of pennies that year to support economic circulation, making the 1936 Lincoln Wheat Penny relatively common in lower grades but still collectible, especially in mint state or with rare errors.
Mintage and Mint Marks
In 1936, the U.S. Mint struck pennies at three different locations:
- Philadelphia (no mint mark) – 309,632,000 coins
- Denver (D mint mark) – 40,620,000 coins
- San Francisco (S mint mark) – 29,130,000 coins
Rarity Breakdown:
- The Philadelphia issue is the most common.
- The San Francisco and Denver mint coins are significantly scarcer in higher grades, with fewer surviving in mint state.
Design Details
- Obverse: Features Abraham Lincoln’s right-facing bust, the words “IN GOD WE TRUST” above his head, “LIBERTY” to the left, and the year “1936” to the right. If present, the mint mark appears just below the date.
- Reverse: Depicts two wheat stalks on either side of the coin with “ONE CENT” and “UNITED STATES OF AMERICA” in between. The motto “E PLURIBUS UNUM” arches above the wheat stalks.
Types and Varieties of the 1936 Wheat Penny
Several varieties and errors make the 1936 Lincoln Wheat Penny more valuable and interesting to collectors:
1. 1936 Doubled Die Obverse (DDO)
The 1936 Doubled Die Obverse is one of the most famous error coins in U.S. history. It occurs when the coin die is misaligned during the hubbing process, resulting in a clear doubling of the date, LIBERTY, and IN GOD WE TRUST.
Features:
- Most noticeable in the date “1936”
- Strong doubling on “LIBERTY” and motto
- Very rare and highly collectible
Value: Depending on condition, a 1936 DDO can fetch anywhere from $150 in lower grades to over $5,000 in mint state.
2. 1936 Proof Lincoln Penny
The U.S. Mint resumed production of proof coins in 1936 after a hiatus. Only 5,569 proof Lincoln cents were produced that year, making them extremely rare and sought after.
Features:
- Mirror-like finish
- Sharper detail than circulation strikes
- No mint mark (Philadelphia issue)
Value: A 1936 proof penny in pristine condition can sell for $1,000 to over $5,000, depending on quality and certification.
Grading and Condition
As with all coins, the condition or grade of a 1936 Lincoln Wheat Penny plays a crucial role in determining its value.
Grading Scale Overview:
- Good (G-4): Heavy wear; details are barely visible.
- Fine (F-12): Moderate wear; Lincoln’s profile is clearly outlined.
- Extremely Fine (EF-40): Light wear; all features are sharp.
- About Uncirculated (AU-50): Slight traces of wear on high points.
- Mint State (MS-60 to MS-70): No wear; may have luster and sharp strike.
Price Estimates by Grade:
| Grade | 1936 (P) | 1936-D | 1936-S |
|---|---|---|---|
| Good | $0.10 | $0.15 | $0.20 |
| Fine | $0.15 | $0.30 | $0.35 |
| XF | $0.35 | $0.75 | $1.00 |
| MS-63 | $3.00 | $8.00 | $10.00 |
| MS-65 | $12.00 | $25.00 | $35.00 |
Note: These are estimates and can vary depending on market demand and certification by agencies like PCGS or NGC.
Investment and Collectibility
The 1936 Lincoln Wheat Penny is an accessible and affordable starting point for beginner collectors, while its rare varieties—especially the DDO and proof issues—appeal to seasoned numismatists.
Why It’s a Smart Buy:
- Easy to find in circulated grades
- Holds historical significance from the Depression era
- Strong demand for high-grade and error varieties
- Great long-term investment potential
Tip for Collectors: Always look for coins with full wheat stalk lines, sharp details, and minimal blemishes. Coins that are certified by reputable grading services will generally command higher resale prices.
Where to Buy or Sell
You can buy or sell 1936 Lincoln Wheat Pennies through:
- Online marketplaces: eBay, Heritage Auctions, GreatCollections
- Coin dealers and shows
- Local coin shops
- Online bullion dealers like SD Bullion, APMEX, or JM Bullion (for rare, certified coins)
Caution: Be wary of counterfeit doubled die varieties. Always buy rare coins from trusted sellers or certified by PCGS/NGC.
Final Thoughts
The 1936 Lincoln Wheat Penny offers a fascinating glimpse into American history, art, and economics. While common in circulated form, higher-grade specimens, doubled die errors, and proof versions are highly desirable. With patience and keen eyes, collectors can find true gems among this Depression-era coinage.
Whether you’re investing, collecting, or simply curious, the 1936 wheat penny is more than just a copper coin—it’s a small but enduring piece of the American story.