How Much Is a Penny From 1958 Worth?

The 1958 Lincoln Cent, often referred to as the “Wheat Penny” due to its reverse design, is a common coin with a mintage of over a billion pieces across two mints. While many of these pennies circulate with minimal value beyond their face worth, certain characteristics can significantly elevate their appeal and price for collectors. Determining the actual value of a 1958 penny requires a careful examination of its unique features and condition.

Factors Influencing a Penny’s Value

The value of any coin, including the 1958 Lincoln Cent, is primarily influenced by its condition, where it was minted, and the presence of any manufacturing anomalies. A coin’s state of preservation is a significant determinant, with pieces showing less wear generally commanding higher prices.

The mint where a coin was produced can also affect its rarity and, consequently, its value. Different mints have varying production figures, leading to some coins being more common than others. Errors and varieties, which are rare production mistakes or intentional design modifications, can dramatically increase a coin’s worth. These unique characteristics make a coin stand out from the millions of others produced, drawing significant collector interest.

Assessing Your Penny’s Condition

Evaluating the condition of your 1958 penny begins with a thorough visual inspection. Look closely at Abraham Lincoln’s bust on the obverse (front) and the wheat stalks on the reverse (back) for signs of wear. Areas like Lincoln’s cheek, jawline, and the highest points of the wheat ears are typically the first to show flattening or loss of detail from circulation.

Coin grading terms provide a general framework for assessing condition. “Good” or “Fine” indicate significant wear, where major design elements are visible but lack sharp detail. “Very Fine” coins show more detail, though some flattening may still be present. An “Uncirculated” coin, the highest grade, exhibits no signs of wear and retains its original mint luster. Proper handling is crucial during this assessment; always hold the coin by its edges to avoid adding oils or scratches that could diminish its condition.

Locating Mint Marks and Key Varieties

To identify where your 1958 penny was minted, examine the obverse side, just below the date. The presence or absence of a small letter indicates its origin. A “D” signifies it was struck at the Denver Mint, while the absence of a mint mark means it was produced at the Philadelphia Mint. The Denver Mint produced a higher quantity of 1958 pennies compared to Philadelphia, making the “D” mint mark coins generally more common.

For the 1958 penny, a notable and valuable variety is the Doubled Die Obverse (DDO). This error is characterized by a clear doubling of elements on the front of the coin, most prominently seen in the inscriptions “LIBERTY” and “IN GOD WE TRUST,” and to a lesser extent, the date. Only a very limited number of 1958 DDO pennies are known to exist, making them exceptionally rare and highly sought after by collectors. Other minor errors, such as off-center strikes or die cracks, can also be found, though they typically do not command the same premium as the DDO.

Finding Current Market Values

Once you have assessed your 1958 penny’s condition and identified any mint marks or potential varieties, you can research its current market value. Reputable online coin price guides are an excellent starting point, allowing you to search by year, mint mark, and condition to find estimated values. These guides often provide price ranges for different grades, from circulated to uncirculated examples.

Reviewing recent completed auction results on major online platforms can also provide insights into real-world selling prices. These results reflect what collectors are currently willing to pay for specific coins. While online resources offer a comprehensive overview, a local coin dealer can provide an in-person appraisal, offering expert evaluation and a potential direct sale option.