What Collectors Should Know
Discover the true value of your 1958 Wheat Penny with insights from Blake Alma, author at CoinHub. Learn about its history, specifications, and why this coin is a prized collector's item.
1958 Wheat Penny Overview
The 1958 Wheat Penny, minted by the Philadelphia Mint, had a mintage of over 252 million coins. Despite this large number, high-grade examples are rare. These pennies often feature sharp strikes and clear details, making cherrypicking crucial for finding the best specimens.
- Auction Record: $336,000 for an MS64RD
- Image Source: PCGS
History of the 1958 Wheat Penny
The 1958 Wheat Penny is known for its full red Mint State versions, which can command higher prices. Designed by Victor David Brenner as part of President Theodore Roosevelt's initiative to improve the artistic quality of American coinage, this penny features Lincoln on the obverse and two wheat stalks on the reverse.
1958 Wheat Penny Worth
Values for the 1958 Wheat Penny range from $2,000 to $9,000 for the highest grades. The coins come in various shades, from brown to full red, with red varieties being the most valuable. Spot-free, well-struck red versions are especially prized among collectors.
Coin Specifications
- Type: Penny
- Year: 1958
- Mint Mark: Philadelphia
- Total Mintage: 252,525,000
- 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
FAQ
- What is a 1958 Wheat Penny?
The 1958 Wheat Penny is a U.S. one-cent coin featuring Lincoln's bust on the obverse and two wheat ears on the reverse, marking the final year of the Wheat Penny design. - How can I identify a 1958 Wheat Penny?
Look for Lincoln's bust on the obverse and the wheat ears on the reverse, with "1958" displayed below Lincoln's shoulder. - Are there any rare variants of the 1958 Wheat Penny?
The 1958 Doubled Die Obverse (DDO) is a notable variant, featuring noticeable doubling on the date and inscriptions on the obverse, making it highly sought after by collectors. - What makes the 1958 Wheat Penny valuable?
Its value is primarily determined by its condition and whether it is a rare doubled die variety. Most 1958 pennies are common, but uncirculated or error coins can be significantly more valuable. - How much is a 1958 Wheat Penny worth?
A standard circulated 1958 Wheat Penny is typically worth a few cents above face value. Uncirculated examples or those with the doubled die error can fetch higher prices. - Where can I find a 1958 Wheat Penny?
These pennies can be found in old coin collections, estate sales, coin dealerships, and online auctions. Occasionally, they can still be found in circulation. - How many 1958 Wheat Pennies were minted?
The Philadelphia Mint produced over 252 million pennies in 1958, while the Denver Mint produced over 800 million. - What is the composition of the 1958 Wheat Penny?
It is composed of 95% copper and 5% tin and zinc. - Can a 1958 Wheat Penny be a good investment?
While most are common and not particularly valuable, high-grade examples and error coins like the doubled die can be good investments for collectors. - How should I store my 1958 Wheat Penny collection?
Store them in a cool, dry place in acid-free holders, albums, or sleeves designed for coin storage to protect them from environmental damage.