The 1957 Lincoln Wheat Penny is one of the most recognized coins among American coin collectors. Struck during the final years of the iconic Wheat Penny series (1909–1958), this coin holds both historical and numismatic value. Whether you’re a seasoned collector or just beginning your coin-collecting journey, understanding the background, value, and varieties of the 1957 Wheat Penny can help you determine whether it’s worth keeping, selling, or buying.
In this comprehensive guide, we’ll cover everything you need to know about the 1957 Lincoln Wheat Penny, including its history, design, mintage figures, current market value, and tips for collectors.
History and Background of the 1957 Wheat Penny
The Lincoln Wheat Penny, designed by Victor David Brenner, was first minted in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth. It became the first U.S. coin to feature a real person, replacing the Indian Head cent.
The 1957 Wheat Penny was minted during Dwight D. Eisenhower’s presidency—a time of post-war economic prosperity in America. As such, these coins were widely circulated and produced in large quantities. Despite their age, many 1957 pennies still exist in excellent condition due to coin hoarding and roll saving practices by collectors and banks.
Design Features
The 1957 Wheat Penny retains the original design that appeared in 1909, with only minor updates over the years.
- Obverse (Front): Features a right-facing portrait of Abraham Lincoln, with the words “IN GOD WE TRUST” along the upper rim, “LIBERTY” to the left, and the year “1957” to the right.
- Reverse (Back): Displays two stalks of wheat, one on each side, encircling the inscriptions “ONE CENT”, “UNITED STATES OF AMERICA”, and “E PLURIBUS UNUM” along the top.
Mint Marks and Mintage
In 1957, Wheat Pennies were minted at two facilities:
- Philadelphia Mint (no mint mark):
- Mintage: 282,540,000
- Denver Mint (marked “D”):
- Mintage: 1,051,342,000
Combined, over 1.3 billion 1957 pennies were produced, making them very common in circulated grades. The 1957-D Lincoln Wheat Penny is especially abundant.
1957 Wheat Penny Value
Circulated Condition
In circulated grades (Good to Extremely Fine), most 1957 Lincoln Wheat Pennies are worth 1 to 3 cents due to their high mintage and commonality. They’re often sold in bulk by weight or by the roll for face-value-plus shipping.
Uncirculated Condition (Mint State)
- 1957 (no mint mark) MS60-MS65: $0.15 to $3
- 1957-D MS60-MS65: $0.10 to $2.50
Higher-grade examples in MS66+ with full red color (RD) can fetch $10–$25+, especially if certified by PCGS or NGC.
Red vs. Brown vs. Red-Brown
Color significantly affects the value:
- Brown (BN): The coin has turned darker due to oxidation. These are the least valuable.
- Red-Brown (RB): Intermediate color, retaining some original luster.
- Red (RD): Bright, original red luster as minted. These command the highest prices in Mint State grades.
Proof Coins
No proof Lincoln cents were struck in 1957. Proofs were produced only at the Philadelphia Mint from 1936–1942 and resumed in 1950.
Notable Errors and Varieties
While the 1957 Wheat Penny is common, some error coins and varieties can be quite valuable. Here are a few examples to look out for:
1. Double Die Obverse (DDO)
- Coins with doubling on the date or lettering (like LIBERTY or IN GOD WE TRUST).
- Value: $20 to several hundred dollars depending on clarity and condition.
2. BIE Error
- A die break between the “B” and “E” in LIBERTY that appears as an “I” (looks like it says “BIE”).
- Value: $5 to $15 depending on severity.
3. Off-Center Strike
- A coin struck off-center with part of the design missing.
- Value: $10 to $50 or more, depending on the degree of the error and overall eye appeal.
4. Repunched Mint Mark (RPM)
- Especially common with Denver issues. Look for a secondary “D” mintmark.
- Value: $10 to $75, depending on rarity and condition.
Should You Keep 1957 Wheat Pennies?
Yes—while most are not worth much above face value, they are a part of a beloved U.S. coin series and often serve as an accessible entry point for beginners. Collectors often try to complete full date/mint sets of Wheat Pennies from 1909–1958, and the 1957 issues help fill those later-year slots.
They’re also fun to search for in change, and hoarding wheat pennies is a common practice due to their historical value and copper content.
Collecting Tips
If you’re building a Lincoln Wheat Penny collection, here are a few tips:
- Look for Red (RD) Uncirculated Coins: These hold more value over time.
- Invest in Graded Coins: Buying coins certified by PCGS or NGC helps ensure authenticity and condition.
- Check for Errors: Always examine your 1957 pennies under magnification for doubling, die cracks, or off-center strikes.
- Store Properly: Use 2×2 holders, coin flips, or albums to protect from air and moisture, which can cause tarnishing.
- Buy Wheat Penny Rolls: You can still find 1957 pennies in bulk rolls on eBay or from coin dealers, which may yield high-grade or error coins.
Final Thoughts
The 1957 Lincoln Wheat Penny may be a common coin in circulated grades, but its nostalgic design and place in American numismatic history make it a worthy addition to any collection. Whether you’re in it for fun, investment, or the thrill of the hunt, these coins are affordable and interesting for collectors at all levels.
With millions still in existence, the 1957 Wheat Penny offers a great opportunity to explore U.S. coinage and even uncover rare errors or high-grade specimens that could be worth more than you expect.