The Lincoln penny has been around for quite some time and is still minted today. That being the case, with a coin that has been in production for such a long period of time, several variations of Lincoln pennies have been made. Since 1958 was the last year the Wheat Penny design was used, demand for the 1958 Lincoln is high. Needless to say, these coins will only increase in value as they are no longer being produced.
Now, in this article, we will talking about the 1958 Lincoln penny regarding its historical background, worth, and grading.
History
The United States Mint discontinued this design of the wheat penny with the 1958 wheat penny, known almost as frequently as the Lincoln cent. This coin features a bust of Abraham Lincoln on one side and two wheat stalks on the other. Obverse: ONE CENT, E PLURIBUS UNUM, UNITED STATES OF AMERICA; reverse: IN GOD WE TRUST, LIBERTY, and the year. The original reverse and obverse were designed by Victor David Brenner.
It is also possible to find full red Mint State variations of the 1958 Wheat Penny; these often come for a higher price. Victor David Brenner designed the Wheat Penny. At that time, President Theodore Roosevelt wanted to introduce new designs in currency that had better artistic appeal. He chose Brenner based on a plaque he had previously prepared that depicted Lincoln’s image. On the obverse of the Wheat Penny, Abraham Lincoln is shown in a bust and profile. On the reverse, there are two stalks of durum wheat.
1958 Wheat Penny Worth
The highest grades of the 1958 Wheat Penny have a value ranging from around two thousand dollars to nine thousand dollars. The Wheat Penny comes in shades that go from red to a fully crimson version to brown. The red variants are the most sought-after and fetch the highest prices; these are typically spotless and well-struck varieties. Any collection of the Wheat Penny series would be enhanced by the addition of the 1958 Wheat Penny.
Grading the 1958 Lincoln Penny
The only kinds of Lincoln pennies that collectors are interested in are ones that have been graded. This is because graded Lincolns have been formally evaluated and assigned official values based on a professional evaluation of their condition. We will explain the various coin grades and their implications for a 1958 Lincoln’s appearance below.
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- Uncirculated:
If you have an uncirculated 1958 Lincoln, you have an immaculate coin that has never been sold on the open market. These coins will be in perfect shape because they have been maintained their entire lives. You will not be able to locate even the slightest imperfection, not even with careful examination.
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- Extremely Fine:
A coin deemed to be of Extremely Fine grade will have some degree of damage on it, but it will have never been in circulation. The majority of the time, these coins’ faces have minor damage that is hardly evident. These coins will be in superb condition, even if they have one or two flaws.
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- Fine:
Coins that have been in circulation but have not sustained significant damage are graded fine. These coins will show evidence of surface wear and tear, but not to the extent that the raised imagery and inscription are no longer visible. These parts will all still be in fair condition overall.
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- Good:
The lowest possible grade for a coin, good usually denotes significant damage to the coin. These coins will undoubtedly have seen better days due to significant scratches, chips, and the fading of surface images and text.
Conclusion
Most coin collectors and historians consider the 1958 Wheat Penny to be among their favorites since it represents both the start of the Lincoln Memorial’s design and the Wheat Penny’s final year of production. Specifically, these pennies are highly prized and eagerly pursued in higher grades, and with the red coloration, they are truly an asset for any collection.
From the historical importance and aesthetic value to the possibility of increased value over time, the 1958 Wheat Penny is an amazing piece of American numismatic history.
