The 1957 Wheat Penny is a sought-after coin by collectors due to its historical significance and design. The value of a 1957 Wheat Penny can range from a few cents to several dollars, depending on its condition and rarity.
For example, a typical uncirculated specimen of a 1957 Wheat Penny is worth between 15 cents and $10, while a proof 1957 penny that was minted for collectors and sold in 1957 proof sets can be worth between $1.50 and $5.
These pennies were produced in large quantities, with over 1.3 billion minted, making them relatively common and inexpensive for collectors today
However, there’s more to discover about this iconic American coin than meets the eye.
Delving deeper into the world of 1957 Wheat Pennies, you’ll learn about the different varieties and factors that can contribute to their values, leaving you well-equipped to start or expand your own collection.
Curious to find out what makes certain 1957 Wheat Pennies more valuable than others? Keep reading!
Table of Contents
1957 Wheat Penny Overview
In 1957, the United States Mint produced the wheat penny, which holds historical significance and value for collectors. Let’s get some insight into the mintage and specifications of the 1957 wheat penny, along with a deeper look into its design and symbolism.
Mintage and Specifications
There were two main versions of the wheat pennies minted in 1957, one with no mint mark, produced in Philadelphia, and the other with a “D” mint mark, produced in Denver.
The Philadelphia Mint struck 282,540,000 cents that year, making them abundant. As for the 1957-D wheat penny, it is valued at $0.25 in MS60 condition.
The specifications for the 1957 wheat penny include a weight of 3.11 grams, a diameter of 19.05 mm, and a composition of 95% copper and 5% tin and zinc.
Design and Symbolism
The wheat penny‘s design features the portrait of the 16th President of the United States, Abraham Lincoln, on the obverse side. This portrait was created by sculptor Victor David Brenner and has been in use on the penny since 1909.
The coin’s reverse side features two wheat stalks, symbolizing the importance of agriculture in the United States during that time period. In addition, the wheat penny showcases the words “E Pluribus Unum,” which is a motto that means “Out of many, one,” highlighting the unity of the nation.
Although the 1957 wheat penny is abundant, its value increases with its grade. For example, a 1957 no-mint mark red MS63 graded wheat penny is worth approximately $7, while an MS65 penny will be worth around $25, and an MS66 wheat penny is valued at $140.
Factors Influencing Value
Condition
The overall condition of a 1957 Wheat Penny greatly impacts its value. Typically, collectors seek coins in premium condition, as these tend to be worth more. For instance, if the coin remains uncirculated, it can fetch a higher price than a well-worn example.
Rarity
Rarity plays a crucial role in determining the value of a 1957 Wheat Penny. While most of these pennies are relatively common, there are a few rarer varieties.
For example, a 1957-D coin minted in Denver might have a higher value than the more common 1957 Philadelphia coins. The rarity of a specific coin will directly influence its worth in the collector’s market.
Mint Errors
Errors made during the minting process can cause a 1957 Wheat Penny to be more valuable. Error coins are often more scarce, and collectors are keen to own these unique pieces.
Examples of mint errors include off-center strikes, doubled-die, and repunched mint marks. Such errors are more likely to increase the value of the coin than decrease it.
Check out Rob Paulsen Live’s investigation into the 1957 Wheat Penny value, including potential rare errors.
Demand
Ultimately, the demand for 1957 Wheat Pennies among collectors also affects their value. Collecting Lincoln Wheat Pennies remains popular, ensuring there is a consistent market for these coins. Increased demand can lead to higher prices, especially when it concerns key dates, rare varieties, or exceptional examples of a specific coin.
Mint Mark Varieties
In 1957, there were two primary mint mark varieties of the Wheat Penny: the 1957 No Mint Mark, and the 1957-D. Each variety has its own unique value, which can vary based on the coin’s condition.
1957 No Mint Mark
The 1957 No Mint Mark Wheat Penny was minted in Philadelphia and does not have a mint mark. The value of a 1957 No Mint Mark Wheat Penny depends on its condition. Here are some approximate values based on different grades:
1957-D
The 1957-D Wheat Penny was minted in Denver, and displays a “D” mint mark. This variety can also be valuable, depending on its condition. Here are some approximate values for the 1957-D Wheat Penny in different grades:
In addition to the primary mint mark varieties, there are also errors and other unique features that may further increase the value of a 1957 Wheat Penny, such as a re-punched mint mark with a starting price of at least $2.50.
1957 Wheat Penny Value Guide
As the fifth highest year of the wheat series, the 1957 wheat penny is an interesting coin to collectors. Two varieties of 1957 wheat pennies were struck, with a combined total of 1,333,882,000 cents. In this value guide, we will discuss the value of circulated and uncirculated wheat pennies.
Circulated Wheat Pennies
In average condition, a 1957 wheat penny is worth a modest amount. The value depends on the coin’s overall appearance, which includes factors like scratches and color. Here are some approximate values for circulated wheat pennies:
- Average condition: $0.25
Keep in mind that cleaned or damaged pieces may only be worth their copper value, which is about 2 cents. The more pristine a circulated wheat penny, the higher its value will be.
Uncirculated Wheat Pennies
Uncirculated 1957 wheat pennies are generally more valuable than their circulated counterparts. The value can range between 15 cents and $10, depending on the quality of the coin. Factors such as the absence of scratches and the surface’s luster will impact the wheat penny‘s worth. According to The Fun Times Guide, here’s the estimated value for different uncirculated 1957 wheat pennies:
- Typical uncirculated specimen: 15 cents – $10
When collecting and valuing these pennies, it’s important to examine the coin closely to determine its condition and overall appeal.
How to Safely Store and Preserve Wheat Pennies
Proper storage and preservation of your 1957 Wheat Pennies are crucial in maintaining their value and condition. In this section, we will discuss some important tips and best practices to ensure the longevity of your coin collection.
First and foremost, handle your coins with care. When handling wheat pennies or any other coins, make sure to wash your hands and avoid touching the coin’s surface as much as possible. Use cotton gloves or hold coins by the edge to minimize the risk of transferring oils and dirt from your fingers.
Keep your coins away from direct sunlight, high temperatures, and humidity. These factors can cause corrosion, discoloration, and other forms of damage over time. A cool, dark, and dry place is the ideal environment for coin storage.
For individual coin storage, consider using acid-free, inert plastic holders such as mylar flips or coin capsules. These holders protect your coins from scratches, dust, and physical damage while allowing you to view both sides of the coin. Avoid using PVC-based holders, as they can release harmful chemicals that affect the coin’s surface.
For larger collections, consider using acid-free cardboard holders, album pages, or coin storage boxes. These methods offer organization and protection within a compact and easy-to-store format.
In summary, proper handling, storage, and preservation techniques will help you maintain the condition and value of your 1957 Wheat Pennies for years to come.
FAQs
In this section, we will address some frequently asked questions regarding the 1957 Wheat Penny and its value.
What is the face value of a 1957 Wheat Penny?
The 1957 Lincoln Wheat Penny has a face value of $0.01 as shown here.
What is the melt value of a 1957 Wheat Penny?
The melt value of a 1957 Wheat Penny is approximately $0.0257, as per rarest.org.
How much is a 1957-D Wheat Penny worth?
According to our research, the value of a Mint State 60 (MS60) 1957-D Wheat Penny is $0.25. (at the time of writing)
How can I determine the value of my 1957 Wheat Penny?
To determine the value of your 1957 Wheat Penny, you need to evaluate its date, mint mark, and condition. Check out CoinStudy’s resource that is really helpful.
Conclusion
In summary, the value of a 1957 Wheat Penny can vary greatly depending on factors such as mint marks, coin condition, and rarity.
The two main varieties struck during this year were the 1957 and 1957-D pennies, with the latter being somewhat more valuable due to its lower mintage.
When assessing the value of a particular coin, it is essential to examine its overall condition and any potential errors, as these can greatly affect the worth.
For instance, rare error coins, like those with grease strikes or die cracks, can attract higher prices among collectors.
Considering our extensive research, CoinStudy’s guide and other resources can help you when determining the value of a 1957 Wheat Penny.
Additionally, seek the advice of experienced coin collectors and dealers to gain a more accurate understanding of your coin’s worth. Remember to handle your coins carefully and store them properly to maintain their value over time.
Our In-house Kraze Stats:
For the stats geeks out there:
1. The 1957 Wheat Penny was designed by Victor D. Brenner.
2. It is the first US coin to prominently feature the image of an individual, namely Abraham Lincoln.
3. The reverse of the penny was changed from “One Cent” to the Lincoln Wheat cent design.
4. The obverse side of the penny has an image of President Lincoln facing left.
5. The reverse side of the penny has two heads of wheat.
6. In 1957, over 686 million pennies were minted at the Philadelphia, Denver and San Francisco mints.
7. The 1957 Wheat Penny was made of 95% copper and 5% zinc.
8. The 1957 Wheat Penny was the last regular issue coin to have the wheat reverse design.
9. The 1957 Wheat Penny has a diameter of 19mm and a thickness of 1.52mm.
10. The value of the 1957 Wheat Penny generally ranges from 5 cents to as high as $250 depending on condition.
11. The most valuable 1957 Wheat Penny is one with a “D” mintmark and in MS-65 condition certified by PCGS or NGC.
12. The 1957-D Wheat Penny was the highest mintage issue for the series.
13. The Denver Mint’s mintage for the 1957-D Wheat Pennies was over 299 million coins.
14. The 1957 Wheat Penny weighs 3.11 grams.
15. The estimated mintage of the 1957-P Wheat Penny is over 139 million coins.
16. The 1957-S Wheat Penny had a mintage of over 248 million.
17. The estimated mintage of the 1957-D overdate error penny is 8,000 to 10,000 coins.
18. The 1957-D overdate error penny is worth approximately $1,000 in XL (Extra Lightly circulated) condition.
19. The estimated mintage of the 1957-D/D reverse error penny is 4,000 coins.
20. The 1957-D/D reverse error penny is worth approximately $400 – $500 in XF (Extremely Fine) condition.
