The 1939 Lincoln Wheat Penny is a classic collectible coin cherished by numismatists and history enthusiasts alike. As part of the enduring Lincoln Wheat series minted from 1909 to 1958, the 1939 penny holds historical significance and modest collectible value. Whether you’re a beginner coin collector or a seasoned investor, understanding the background, features, varieties, and current market value of the 1939 Wheat Penny can help you make informed decisions.
In this article, we’ll explore the history, design, mint varieties, current value, and tips for collectors of the 1939 Lincoln Wheat Penny.
History of the 1939 Lincoln Wheat Penny
The Lincoln Wheat Penny was introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. It was the first U.S. coin to feature a real person, breaking from the tradition of using Lady Liberty. The reverse side carried two wheat stalks, earning it the nickname “Wheat Penny.”
The year 1939 was during the tail end of the Great Depression and the beginning of World War II in Europe. As a result, there was cautious economic activity, and the U.S. Mint continued producing the one-cent coin for everyday use.
Design Details
The 1939 Lincoln Wheat Penny was designed by Victor David Brenner, whose initials “V.D.B.” can be found at the base of Lincoln’s shoulder on most coins.
Obverse (Front)
- Portrait: Abraham Lincoln, right-facing profile
- Text: “IN GOD WE TRUST,” “LIBERTY,” and the date “1939”
- Mint mark (if any) appears below the date
Reverse (Back)
- Design: Two stylized wheat stalks flanking the words
- Text: “ONE CENT,” “UNITED STATES OF AMERICA,” and “E PLURIBUS UNUM”
Mint Locations and Varieties
In 1939, the Lincoln Wheat Penny was struck at three different U.S. Mint facilities:
1. Philadelphia Mint (No Mint Mark)
- Mintage: 316,466,000
- Most common variety
- No mint mark under the date
2. Denver Mint (D)
- Mintage: 15,160,000
- Scarcer than the Philadelphia version
- Mint mark: “D” below the date
3. San Francisco Mint (S)
- Mintage: 52,070,000
- Less common than Philadelphia coins, more common than Denver
- Mint mark: “S” under the date
These mint marks are crucial for collectors, as coins from different mints can vary significantly in value and rarity.
1939 Lincoln Wheat Penny Value
The value of a 1939 Wheat Penny depends on its mint mark, condition, and rarity. Here’s a breakdown by variety and grade:
| Mint | Circulated (Fine-VF) | Uncirculated (MS60-MS65) | Proof |
|---|---|---|---|
| 1939 (P) | $0.05 – $0.20 | $1 – $6+ | Not applicable |
| 1939-D | $0.50 – $1.50 | $5 – $30+ | Not applicable |
| 1939-S | $0.20 – $0.60 | $3 – $15+ | Not applicable |
Note: Prices may fluctuate based on the coin market and collector demand.
Proof Versions
In 1939, the U.S. Mint did not produce proof pennies for circulation. Proof coins were suspended during the 1930s and resumed in 1942.
Errors and Rare Varieties
Certain 1939 Lincoln Wheat Pennies with minting errors can fetch significantly higher prices at auctions. Here are some notable examples:
1. Double Die Obverse (DDO)
- Rare error where elements like “LIBERTY” or the date appear doubled
- Value: $50 to over $200, depending on grade and visibility
2. Off-Center Strike
- Occurs when the die strikes the blank planchet off-center
- Value: $10 to $150, depending on percentage off-center and condition
3. BIE Error
- A small die break between the B and E in “LIBERTY” forms what looks like an “I”
- Value: $5 to $50, depending on size and prominence
Collectors actively seek these errors, and coins with such anomalies are often more valuable than regular-strike coins.
Grading the 1939 Lincoln Wheat Penny
Coin grading significantly impacts a coin’s market value. The Sheldon Scale, ranging from Poor (P-1) to Mint State (MS-70), is used to assess a coin’s condition.
- Good (G-4): Heavy wear, but date and major features visible
- Very Fine (VF-20): Moderate wear, strong design features
- Extremely Fine (EF-40): Light wear on high points, clear details
- About Uncirculated (AU-50): Slight friction on high points
- Mint State (MS-60+): No wear, may have minor marks or spots
For investment purposes, uncirculated coins graded MS63 and above are the most desirable.
Tips for Collectors
1. Buy From Reputable Sources
Use trusted coin dealers, auction houses, or certified marketplaces. Look for coins graded by PCGS or NGC.
2. Focus on Quality
High-grade examples and rare errors usually appreciate in value more than common circulated coins.
3. Store Properly
Use acid-free holders, coin flips, or capsules to protect your coins from corrosion and damage.
4. Know the Market
Coin values fluctuate. Keep up with current trends through price guides, forums, and numismatic publications.
Is the 1939 Wheat Penny Worth Keeping?
Yes! Even in circulated condition, the 1939 Lincoln Wheat Penny is a valuable part of a historical coin collection. While not exceedingly rare, its age, affordability, and design make it an excellent entry point for new collectors. Those who come across error coins or high-grade versions may even realize a profit over time.
Conclusion
The 1939 Lincoln Wheat Penny is more than just a copper coin—it’s a tangible piece of American history. With over 380 million minted across three facilities, it remains one of the more accessible pre-1940 wheat pennies. Collectors treasure it for its historical context, simplicity, and potential value, especially when found in high grades or with minting errors.
Whether you’re a hobbyist or an investor, adding a 1939 penny to your collection can be a rewarding experience. As with all coins, condition, rarity, and demand are key drivers of value, so be sure to research, inspect, and store your coins with care.