Understanding the 1939 Penny Value

Coin collecting can be intriguing, especially when specific pieces hold historical significance. The 1939 penny, or the Lincoln Wheat Penny, is no exception. It’s a common item among enthusiasts due to its relative abundance and the history it represents.

Historical Context

By 1939, the world was on the brink of significant change. The effects of the Great Depression still lingered, while World War II was just beginning. During this time, the U.S. Mint produced the Lincoln Wheat Penny, originally designed in 1909 to commemorate Abraham Lincoln’s 100th birthday. Victor David Brenner’s design was chosen for its obverse and has been a mainstay in American numismatics since.

The penny has Lincoln’s profile on the front, with “In God We Trust” and the word “Liberty” flanking the left side of his portrait. The date is displayed on Lincoln’s right. The reverse features two wheat ears, symbolizing agriculture. Between them sits the denomination and “United States of America.” Above, E Pluribus Unum, meaning Out of many, one, reflects the country’s motto.

Mintage and Variability

Three mints produced the 1939 penny: Philadelphia, Denver, and San Francisco. Philadelphia minted the largest quantity without a mint mark—a common characteristic of pennies from this location. The Denver mint issued 15,160,000 pennies denoted by a small D mark. Meanwhile, San Francisco’s output was 52,070,000 coins, identified by a small S.

The mintage figures affect the coin’s rarity and value. Typically, the lower the mintage, the more valuable the coin. However, it’s important to note that condition often trumps mintage. A well-preserved penny can be worth more than one with several imperfections.

Determining Value

When assessing a 1939 penny’s value, several factors play roles. Condition, mint mark, and unique features are key. Coins are graded on a scale from poor to uncirculated. Coins with uncirculated status are in mint condition, free from wear, making them highly desirable. Generally, the value ranges from a few cents to several dollars, based on condition alone.

• No Mint Mark (Philadelphia): Often the least valuable due to higher availability. Values for circulated conditions range between $0.05 and $0.40. Uncirculated coins fetch between $1 and $2 or higher.
• D Mint Mark (Denver): Circulated examples range from $0.10 to $0.50. Uncirculated coins command $2 to $5.
• S Mint Mark (San Francisco): Slightly more than those from Denver when in similar conditions. Circulated coins sit between $0.15 and $0.50. Uncirculated ones vary from $2 to $5 or more.

The Role of Condition

The Sheldon Scale, from 1 (poor) to 70 (perfect uncirculated), helps assess condition accurately. Coins considered Good (4-6) show heavy wear, with basic design outlines visible. Very Fine (20-35) retains most detail, though high points show slight wear. Extremely Fine (40-45) pieces exhibit sharp detail, with only slight wear on high points. For Almost Uncirculated (50-58), minimal imperfections on the highest points are evident. Grades of 60 and above are Uncirculated and pristine.

Details matter. Luster, strike sharpness, and overall eye appeal contribute to a coin’s desirability. Sharp, well-defined features, such as hair strands and wheat lines, elevate the coin’s status. Coins with original mint luster command higher prices.

Errors and Varieties

Collectors cherish errors and varieties for their rarity and novelty. They emerge during the minting process. In the 1939 penny’s case, noticeable errors impact its value positively. Common errors include doubled dies, repunched mint marks, and die cracks.

Doubled dies involve misalignment during striking, creating doubled features. They appear as shadows or blurry images on the coin’s details. Repunched mint marks result from reapplying the mint mark punch onto the coin, leaving duplicative impressions. Die cracks occur from worn-out dies, causing irregular lines on the coin’s surface. These errors can push a penny’s worth substantially higher than standard issues.

Preservation and Collection

Proper storage and handling are crucial when preserving a penny’s condition. Moisture, extreme temperatures, and direct contact with oils from hands can degrade the coin. Using protective holders like cardboard 2x2s or coin flips made of inert materials reduces contact and exposure. Avoid cleaning coins as it often diminishes numismatic value. Collectors seek originality over artificial shine.

For newcomers in the hobby, beginning with wheat pennies offers a cost-effective and rewarding start. Their historical context coupled with varied mints and potential errors provide ample exploration.

Market Trends

The market for 1939 pennies, like all coins, fluctuates. Factors include economic conditions, demand in coin collecting circles, and the coin’s historical significance during pivotal years like 1939. Scarcity affects pricing but doesn’t stabilize it. Coins are ultimately worth what collectors are willing to pay.

Auctions often set benchmarks for rare items. Monitoring sales through platforms like eBay or other bidding sites provides insights into current values. Prices change, but the enduring allure of coin collecting keeps enthusiasts engaged.

Understanding these elements—historical significance, mintage variability, condition, and market factors—equips collectors and hobbyists with knowledge to appreciate and value their 1939 pennies effectively.