by Blake Alma
The 1955 Wheat Penny is a notable coin for collectors, with a total mintage of over 33 million coins struck at the Philadelphia Mint. This mintage is relatively small compared to previous years, especially for the Philadelphia Mint. Despite its low mintage, the cost of this coin remains modest in comparison to other rare coins.
AUCTION RECORD: $38,400 • MS67+RD
Image source: PCGS
History of the 1955 Wheat Penny
The 1955 Wheat Penny, designed by Victor David Brenner, is a key piece in the Lincoln Cent series. This coin often appears in higher Mint State grades due to its low mintage. The obverse features a bust of Abraham Lincoln, while the reverse displays two stalks of durum wheat. President Theodore Roosevelt selected Brenner for his artistic merit, particularly a plaque of Lincoln's profile he had created.
1955 Wheat Penny Worth
The value of the 1955 Wheat Penny ranges from around two thousand dollars to eight thousand dollars for the highest grades. The coin’s color can range from brown to red, with Full Red versions typically commanding higher prices. Collecting these pennies is worthwhile, especially those with a sharp strike and clear details.
1955 Wheat Penny Value Chart
- Good (G4): Considerable wear, major details worn flat. Value: $0.05 - $0.10.
- Fine (F12): Moderate to considerable even wear, design bold. Value: $0.10 - $0.20.
- Extremely Fine (XF40): Light wear on high points; sharp details. Value: $0.25 - $0.50.
- Uncirculated (MS60): No wear, contact marks possible. Value: $0.75 - $2.
- Choice Uncirculated (MS63): Sharp, few contact marks, strong luster. Value: $3 - $5.
- Gem Uncirculated (MS65): Near-perfect, strong luster, few marks. Value: $10 - $20.
The Famous 1955 Double Die Obverse
The 1955 Double Die Obverse (DDO) error is the most famous variant, caused by a misalignment during minting. This error led to a noticeable doubling of the inscriptions and date on the coin's obverse side. Approximately 40,000 of these error coins were produced, with about 22,000 entering circulation before the mistake was caught.
Notable Auction Values:
- Brown Double Die Obverse: Sold for $1,500 in March 2019.
- MS60 Red Double Die Obverse: Valued at $3,250 by PCGS.
- MS65 Red Double Die Obverse: Can reach $52,500.
- MS65+ Red Double Die Obverse: Estimated at $288,000.
1955 Wheat Penny Specifications
- Type of Coin: Penny
- Year: 1955 Wheat Penny
- Mint Mark: Philadelphia
- Total Mintage: 33,058,000
- Metal Content: 95% Copper, 5% Zinc and Tin
- Face Value: 1 cent
- Weight: 3.11 grams
- Edge: Plain
- Designer: Victor David Brenner
- Diameter: 19.00 millimeters
Why is the 1955 Double Die Obverse Wheat Penny Expensive?
- Rarity: Limited production makes it highly sought after.
- Demand: High interest among collectors drives up the value.
- Condition: Higher-grade examples fetch significantly higher prices.
FAQ About the 1955 Wheat Penny
What is the 1955 Wheat Penny value in average condition?
The value ranges from $0.15 to $0.30 for average circulated coins. Uncirculated or error coins can be worth much more.
How does the condition affect its value?
Uncirculated and high-grade coins, especially with errors like the Double Die, are much more valuable.
What makes the Double Die variant valuable?
The rarity and distinct doubling error make it highly collectible and valuable.
Can the mint mark affect its value?
Most 1955 Wheat Pennies were minted in Philadelphia and do not have a mint mark. The value is more influenced by condition and errors.
What is the highest recorded value at auction?
The highest recorded value for a 1955 Double Die obverse penny exceeds $100,000.
How can I determine the value of my coin?
Consult a professional coin grader or numismatist for an accurate assessment.
Are there common misconceptions about its value?
A common misconception is that all 1955 pennies are highly valuable. In reality, the Double Die error variant holds significant value.