Lincoln Wheat Penny is a popular coin among collectors due to its historical significance, enduring design, and affordable value. Struck during the post-World War II era, this penny carries the iconic wheat reverse that defined U.S. one-cent coins from 1909 to 1958. Whether you’ve stumbled upon one in your pocket change or inherited a coin collection, understanding the value and characteristics of the 1950 wheat penny can be rewarding.
In this guide, we’ll explore the history, mint marks, value, and grading factors of the 1950 Lincoln Wheat Penny to help you determine if your coin is a hidden gem.
History of the 1950 Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to commemorate the centennial of Abraham Lincoln’s birth. Designed by Victor David Brenner, the obverse features a bust of President Lincoln, while the reverse showcases two wheat stalks flanking the words “ONE CENT,” giving the coin its nickname, “Wheat Penny.”
The 1950 edition is part of the final decade of production for this beloved coin design. By the late 1950s, the U.S. Mint was preparing to transition to the Lincoln Memorial reverse, which began in 1959.
The 1950 Wheat Penny was struck at three mints:
- Philadelphia (no mint mark)
- Denver (D)
- San Francisco (S)
Let’s examine the mintage figures and mint mark variations for each.
Mintage and Mint Marks
Understanding mint marks is crucial to determining the rarity and value of your 1950 penny.
1. 1950 No Mint Mark (Philadelphia)
- Mintage: 272,635,000
- These are the most common 1950 Lincoln pennies. You’ll find them frequently in circulated condition.
2. 1950-D (Denver Mint)
- Mintage: 334,950,000
- The Denver Mint struck the highest number of 1950 wheat pennies. They are abundant and generally have modest value unless in pristine condition.
3. 1950-S (San Francisco Mint)
- Mintage: 118,505,000
- Although the lowest-mintage of the three, the 1950-S is still considered common among collectors. However, coins in higher grades can carry a premium.
How Much is a 1950 Lincoln Wheat Penny Worth?
The value of a 1950 wheat penny largely depends on its mint mark and condition (grade). Most circulated 1950 pennies are worth a few cents to a dollar, while uncirculated or proof-like coins can fetch higher prices.
1950 Penny Value by Mint and Grade
| Coin Type | Good (G-4) | Extremely Fine (EF-40) | Uncirculated (MS-60) | Brilliant Uncirculated (MS-65) |
|---|---|---|---|---|
| 1950 (No Mint) | $0.05 | $0.15 | $0.75 | $3.00 |
| 1950-D | $0.05 | $0.15 | $0.50 | $2.50 |
| 1950-S | $0.07 | $0.25 | $1.00 | $4.00 |
Note: Prices are approximate as of 2025 and may vary depending on market demand and eye appeal.
Key Features to Identify
To authenticate and evaluate your 1950 Lincoln Wheat Penny, consider the following features:
- Obverse: Lincoln’s profile with the inscriptions “IN GOD WE TRUST,” “LIBERTY,” and the date “1950.”
- Reverse: Two wheat stalks, “ONE CENT,” “UNITED STATES OF AMERICA,” and “E PLURIBUS UNUM.”
- Mint Mark: Located below the date on the obverse (if present).
Look out for errors or varieties, such as:
Double Die Errors
Though rare for 1950, any doubling of the date or lettering can significantly increase a coin’s value.
Off-Center Strikes
Coins struck off-center are collectible mint errors and can fetch a premium depending on how much of the design is missing.
Grading the 1950 Wheat Penny
Coin grading is the process of determining a coin’s condition, typically on a scale from 1 to 70. Higher-grade coins are generally more valuable.
Common Grades:
- Good (G-4): Heavy wear; details are mostly smooth.
- Fine (F-12): Moderate wear; details visible but worn.
- Extremely Fine (EF-40): Light wear; most details are sharp.
- Mint State (MS-60 to MS-70): Uncirculated; no wear, only minor contact marks.
If you believe your coin is in uncirculated condition, it may be worth having it professionally graded by services like PCGS or NGC.
Should You Get a 1950 Penny Graded?
Professional grading is worth considering if:
- Your coin appears uncirculated or has proof-like surfaces.
- You suspect a rare variety or error.
- You want to sell it at auction or to a serious collector.
For most circulated 1950 wheat pennies, grading costs may exceed the coin’s market value.
Where to Buy or Sell 1950 Lincoln Wheat Pennies
If you’re interested in buying or selling 1950 Lincoln wheat pennies, consider these platforms:
- Online Marketplaces: eBay, Etsy, and Amazon
- Coin Shops & Dealers: Reputable local dealers or national companies like APMEX or JM Bullion
- Coin Shows: Great for viewing multiple coins and negotiating in person
- Online Auctions: Heritage Auctions or GreatCollections
Always verify authenticity and grade before purchasing high-value coins.
Collecting the 1950 Lincoln Penny
Whether you’re a seasoned numismatist or a beginner, the 1950 wheat penny makes a great addition to any U.S. coin collection due to its:
- Historical era (post-WWII)
- Classic wheat reverse design
- Affordability
- Availability in rolls, sets, and bulk lots
If you’re building a full Lincoln Wheat Cent set (1909–1958), the 1950 issues are easy to obtain in all grades, including mint state.
Final Thoughts
The 1950 Lincoln Wheat Penny isn’t the rarest coin in circulation, but it carries historical charm and offers good value for collectors. Whether you’re hoping to complete a Lincoln Cent album or discover a high-grade specimen, these coins remain a popular target for beginners and experts alike.
Keep an eye out for well-preserved examples, and you might just have a small treasure in your hands.
FAQs About the 1950 Lincoln Wheat Penny
Q: Is the 1950 penny rare?
A: No, it’s considered common, but coins in mint state or with errors can be valuable.
Q: What makes a 1950 penny valuable?
A: High grade (MS65+), red luster, and mint errors like doubling or off-center strikes.
Q: Does the 1950 wheat penny contain copper?
A: Yes. It’s made of 95% copper and 5% tin and zinc, like most pre-1982 pennies.
Q: Where is the mint mark on a 1950 penny?
A: Just below the date on the obverse. If there’s no mark, it was minted in Philadelphia.