1953 Wheat Penny Value Guide

What Is the 1953 Lincoln Wheat Penny Made Of?

The Lincoln cent, also known as the Lincoln penny, has a face value of $0.01. The U.S. Mint has struck this coin since 1909. The Lincoln penny has been produced for over a century now and is still in circulation up to the present. The mint has massively produced this coin since its circulation, and the 1953 Wheat Penny was made in billions.

The 1953 Lincoln Wheat Penny is made of 95 percent copper and 5 percent tin and zinc mixture. The pennies produced from 1909 to 1942 and 1944 to 1982 have the same metal composition. However, in 1943, the U.S. Mint struck Lincoln coins with zinc plated with steel. This was because, during the war, there were shortages of copper.

All Lincoln pennies minted from 1982 to the present time are made of 97.5% zinc and 2.5% copper.

The 1953 wheat pennies were made with a plain edge and a diameter of 19.05 mm. The weight, however, varies. For example, cents made from 1909 to 1982 (i.e., including the 1951 series) weighed 3.11 grams, while the wartime steel coins were 2.7 grams. Currently, the one-cent coins weigh 2.5 grams.

There is quite a story regarding the design of the 1953 Lincoln cents. At first, the coin’s design was a flying eagle created by sculptor Augustus Saint-Gaudens, but later on, then-president Theodore Roosevelt learned that by law, an eagle could not appear on the coin. So the coin had to be redesigned. But unfortunately, Saint-Gaudens became very ill and died without finishing the obverse design.

The inception of having Lincoln on the one-cent in 1909 happened when Roosevelt thought of honoring his fellow Republicans, as also was proposed by many citizens to the Treasury Department.

In the first month of 1909, the sculptor Victor David Brenner was commissioned for the coinage redesign to have Lincoln’s profile on the cent. The commemoration of his centennial birth anniversary was also in that same year, as he was born on February 12, 1809.

When it comes to the obverse (heads) of the 1953 Wheat Penny, you can see the bust of the assassinated 16th U.S. President Abraham Lincoln facing right. The inscriptions on this side include the following:

• IN GOD WE TRUST
• LIBERTY
• 1953

On the reverse (tail), Brenner designed two stalks of wheat placed on the left and right sides of the coin. The inscriptions also include the following:

• E PLURIBUS UNUM
• ONE CENT
• UNITED STATES OF AMERICA.

Brenner depicted two ears of durum wheat on the cent at that time, making the one-cent coins known for ‘wheat pennies’ struck from 1909 to 1958. In 1959, Brenner’s wheat was replaced with the Lincoln Memorial, designed by Frank Gasparro.

1953 Lincoln Wheat Penny Varieties

The 1953 Penny has been struck at three Mints in the U.S. These mints are located in Philadelphia, Denver, and San Francisco. The 1953 Lincoln Wheat Penny varieties are 1953-D, 1953-P, 1953-S, and 1953 Proof. The mint also produced error coins during minting.

Overall, the U.S. Mint produced more than 1 billion pennies of the combined varieties of the 1953 wheat penny and released these coins into circulation.

To learn more about these varieties of the 1953 Lincoln wheat penny, take a look at the below descriptions:

1953 D Lincoln Wheat Penny

photo source: PCGS

The Denver mint produced the most 1953 pennies, striking over 700 thousand coins. Of the entire series, the 1953-D coins are the 9th highest mintage of all date and mintmark combinations. Because of this, many rare coins were produced for this variety.

Many numismatists preferred the lightly circulated to full Mint State (like new) condition of this variety. Most of the 1953-D wheat pennies are still retaining their bright luster.

1953 P Lincoln Wheat Penny

photo source: PCGS

The 1953-P Lincoln cent is one the most challenging P mint marks, especially for its MS66 grades or higher. Approximately 400 – 500 MS66 Red (R.D.) Red samples exist. Issued MS66 coins between 1920 and 1958, like the 1953 wheat pennies, are hard to find. Meanwhile, the cents in MS67 Red condition are almost unheard of, perhaps with less than five samples.

For its MS65 condition, most existing samples were weakly struck with nicks and scratches. Unfortunately, most of these were already graded, and they began to be scarce.

1953 S Lincoln Wheat Penny

photo source: PCGS

There are abundant rare grades for San Francisco wheat pennies (1953-S). The exceptional quality of the 1953-S should be worth a premium, specifically the ones with Red color. Albeit the fewest number of minted coins among the three mints, the 1953-S variety is still available in different grades.

1953 Lincoln Wheat Penny (Proof)

photo source: PCGS

Proof coins with Cameo or Deep Cameo surfaces of the 1953 Lincoln cent are hard to find nowadays. From the 1950 to 1958 Lincoln Wheat penny (Proof) series, the ones with Cameo surfaces are the third scarcest. Only 300 Proof wheat cents exist, made in 1953 with Cameo surfaces and approximately more than 35 samples with Deep Cameo existing.

List Of 1953 Lincoln Penny Errors

In 1953, the U.S. Mint made over 1 billion Lincoln Wheat Penny for circulation. Of this massive production, the equipment could be expected to have been overworked and deteriorated, which resulted in mint-made error coins. 

Though these errors are mostly unintentional, the coins show some uniqueness and rarity. Distinct and special coins like these are valuable to many collectors as these are premium ones when sold.

Error coins that can be produced during the minting process are due to, but not limited to, the following:

• Die crack
• Rotated die
• Doubled die
• Clipped planchet
• Bank planchet
• Weak strike
• Off-center strike
• Broadstrike
• Lamination error

Let’s take a look at a couple of 1953 Lincoln Wheat pennies below:

Die break error

photo source: eBay

This sample above shows a die break on Lincoln’s teeth. Die breaks cross the bust’s face from rim to rim. It shows that one side of the break is slightly higher than the other.

Doubled die error

photo source: eBay

If you look at this sample, the error is on the 3 of the release year – 1953.  Usually, doubled die error (misspelling of double die) is visible to the human eye. When the die or hub misaligns during the hubbing process, it can create duplicate design elements. Doubled die strength varies from very light, isolated to extreme and widespread.

How Much Is the 1953 Lincoln Penny Worth Today?

As usual, the coin’s condition, grade, and rarity determine the value or worth of the 1953 Lincoln wheat penny. Its melting value is generally based on the value of the metals it is made of: copper, tin, and zinc.

The value of a 1953 Lincoln wheat cent is approximately $0.0249739. This is based on the price value of the 95% copper and 5% zinc mixture.

The 1953 Wheat Penny is generally valued based on its minting types from three different mints – Denver, Philadelphia, and San Francisco. So, for example, you can take a look at the value of these 1953 Lincoln pennies below:

How Does The Grading System Work?

The Sheldon Scale is used by numismatists to provide a numerical value to coins. The Sheldon Scale goes from poor (P-1) to perfect mint state (P-1) (MS-70). Coins were originally evaluated using words to reflect their condition (Good, Fair, Excellent, Etc.). Unfortunately, coin collectors and dealers had different ideas about what each of these terms represent.

Professional numismatists joined together in the 1970s and established CoinGrading standards. These numismatists now assign grades at key places on the seventy-point scale, using the most regularly utilized numeric points in conjunction with the original adjective grade. The following are the most common coin grades:

1. 1. • (P-1) Poor – Indistinguishable and probably damaged; if used, must have a date and mintmark; otherwise, rather battered.
      • (FR-2) Fair – Nearly smooth, but without the damage that a coin graded Poor often possesses. The coin must have enough detail to be identified.
      • (G-4) Fair – Inscriptions have merged into the rims in some areas, and important elements have been mostly erased.
      • (VG-8) Very Good- A little weathered, but all of the primary design elements are visible, albeit faintly. There is little if any, central detail left.
      • (F-12) Good – The item is very worn, yet the wear is even, and the overall design details stand out clearly. Rims are almost completely isolated from the field.
      • (VF-20) Very Fine – Moderately weathered, with some finer features still visible. The motto or all letters of LIBERTY are readable. Both sides of the coin have entire rims that are separated from the field.
      • (EF-40) Extremely Fine – Gently used; all gadgets are visible, and the most important ones are bold. The finer details are bold and clear, however, light wear may be seen.
      • (AU-50) Uncirculated – Slight evidence of wear on the coin’s design’s high points; may have contact marks; eye appeal should be adequate.
      • (AU-58) Uncirculated Choice – Slight traces of wear, no severe contact marks, almost full mint shine, and great eye appeal.
      • (MS-60) Mint State Basal – Strictly uncirculated; no indication of wear on the coin’s highest points, but an unsightly coin with reduced luster, visible contact marks, hairlines, and other flaws.
      • (MS-63) Mint State Acceptable – Uncirculated, but with contact scratches and nicks, little reduced shine, but otherwise appealing appearance. The strike is weak to average.
      • (MS-65) Mint State Choice – Uncirculated with great mint shine, very little contact blemishes, and exceptional eye appeal. The strike is unusually severe.
      • (MS-68) Mint State Premium Quality – Uncirculated with superb luster, no obvious contact marks to the naked eye, and exceptional eye appeal. The strike is quick and appealing.
      • (MS-69) Almost Perfect Mint State – Uncirculated with perfect brilliance, a sharp and appealing strike, and extremely good eye appeal. A near-perfect coin with minor imperfections in the planchet, strike, and contact markings (seen only under 8x magnification).
      • (MS-70) Mint State Perfect – Under 8x magnification, there are no tiny imperfections discernible; the strike is crisp, and the coin is perfectly centered on a beautiful planchet. Rarely seen on a coin, this coin is bright and whole, with original luster and exceptional eye appeal.

Where To Buy Or Sell 1953 Lincoln Penny?

Ah, this is easy! Online is your go-to place for selling and buying your 1953 Lincoln Wheat penny. The usual sites are eBay and Amazon. Some sellers are also offering the coins via Etsy.

Also, physical stores like antique stores and pawnshops are available if you like selling and buying offline. Other shops like coin shops and auction houses are your other options.

Professionals from PCGS and NGC can also be your consultants if you need advice on how and where to go about buying or selling your 1953 wheat pennies.

FAQs

What is a 1953 S wheat penny error?

Known errors that occurred for some of the 1953 Wheat Penny are the following, but not limited to:

• Punching error (i.e. repunched mint mark RPM)
• Clipped planchet
• Doubled die
• Die break error
• Die chip error

These error coins can be found on some selling sites, like eBay. Its cost depends on the condition and rarity in general.

How do I know if my 1953 penny is valuable?

It’s not easy to determine the value of your 1953 Lincoln Penny, though. Depending on its condition, you would know if your cent is worth a premium. Most collectors are meticulous regarding the “Grade” of a coin. The grading specifications you should consider are Uncirculated, Extremely fine, Fine, and Good (detailed above).

You can also bring your coin to PCGS and NGC to be professionally graded to get the overall value for your 1953 wheat penny.

Is there anything special about a 1953 penny?

If you own a 1953-S Wheat Penny, great for you! MS66 grades or higher are relatively special and scarce. The Redder, the rarer, and better too. These coins could be worth a premium when sold.