Are you here because you saw this coin in Grandpa’s collection? Or Did you find one in a hidden case? Let’s break down the 1936 Wheat Penny (also referred to as Lincoln Wheat Penny or Lincoln Coins) for its value and rarity and determine if you are holding onto some good cash!
The 1936 Wheat Penny is a cent coin from the United States that has wheat stalks on the reverse and Abraham Lincoln on the obverse. This penny, which is made up of 95% copper, can be valued anywhere from a few cents to several dollars based on its mint mark and condition.
At the end of the fiscal year in June 1936, 331.09 million Lincoln cents had been struck, according to the 1936 Annual U.S. Mint Report. The overall mintage from January to December was 379,387,569 (or 379,382,000 sans proof variations).
Denver, San Francisco, and Philadelphia struck the 1936 pennies.
This was the mintage Leaderboard:
The mint mark on the penny will indicate where it was struck:
The Philadelphia Mint 1936 pennies are sometimes referred to as 1936-P Lincoln cents even though they lack a mint mark. The only place to mint proof variants was Philadelphia.
Only certified coins are what collectors are interested in when it comes to 1936 Lincoln coins. For those who are not aware, grading is the procedure through which a coin's condition is evaluated by a skilled specialist or agency. A one- or two-word grade—is a one- or two-word description of the coin's physical condition—is the end product of this meticulous evaluation. An overview of the various grades and their possible meanings for a 1936 Lincoln penny are listed below.
Uncirculated: Coins that have never been sold on the open market are designated as being in the Uncirculated grade. These coins will have escaped the wear and tear that coins of a similar era would have experienced because they have never changed hands. Because of this, Uncirculated Lincoln pennies have the exact same physical appearance now as they did in 1936.
Extremely Fine: Coins graded as Extremely Fine have probably never been in circulation, but they may have picked up a few small flaws along the road. Even though the flaws revealed by grading are frequently invisible to the unaided eye, their existence alone is sufficient to marginally reduce the 1936 Wheat Penny value.
Fine: A coin with a fine grade has most likely been traded for a while, but it hasn't likely sustained significant damage. Although there will be some smoothness and scratches visible to the unaided eye, these flaws won't be sufficient to undermine the coin's elevated features. Considering everything, these coins are still in fair condition.
Good: A coin with a Good grade has been in circulation for a considerable amount of time. These coins will have a lot of damage due to their extensive circulation, from massive chips to noticeable scratches and smoothing. These pieces are still in reasonably good condition, despite the possibility that part of the raised lettering and imagery has worn away.
No Mintmark Under Date: Struck in the Philadelphia Mint
Philadelphia Mint’s supply of the Lincoln Coins are classified as ‘Abundant’ on the rarity scale. Collectors still find these to be appealing because they are readily available in the 1930s date. Reasonably priced and appealing to younger collectors, the coin has light wear that doesn't exhibit any indications of big markings or dark coloring.
1936-D Lincoln Penny
"D" Mintmark Under Date: Denver Mint Struck the Coin
The condition of a coin with detail in Lincoln's hair and a distinct separation of the ear from the hair is better than normal.
1936-S Lincoln Penny
"S" Mintmark Under Date: San Francisco Mint Struck the Coin
On the rarity scale, average quality 1936 San Francisco cents are abundant. Those with little to no wear on the surface are uncommon. Young and inexperienced collectors looking for a beautiful example of a common mint coin are in high demand for them.
How to Examine!
Examine Lincoln's portrait from the center, under one single source of light. A grade coin that is above average is a bow tie that clearly shows the separation of the knot from either side.
Broadstrike Error 1936 Lincoln Penny
A "Broadstrike" Lincoln mistake cent is occured because of the cosmetic changes from a typically struck cent, these coins are more valuable and more popular. The upper and lower dies came together to strike this coin without the collar in place to hold the blank cent in place. The metal then becomes larger than a penny's typical diameter.
Although the entire design was impressed, some areas of the coin show a wider area along the edge. One "complete" design that is still needed is defining the broadstrike.
Take note of the fine detail throughout, which supports a mint production fault. A coin loses detail if it is harmed outside of the mint by being squeezed or struck.
Differentiating between the two factors distinguishes a valuable mistake from a damaged coin with no value.
Collectors look for these mistakes in pristine form. For a while, a lot of mistakes were made, disregarded, and worn down in different ways. A visually pleasing example with little to no wear is ideal. The 1936 broadstrike mistake image is a little off-center, and its aesthetic value is a little lower. Error values are subjective and are assigned a unique value within the specialized field of error collection.
The type and condition of the coin will determine its value when it comes to 1936 Lincoln coin assessment. There may be up to three distinct values for 1936 Lincolns of the same grade because there were up to three different types of Lincolns produced annually. The below chart will assist you in understanding the worth of these coins.
| - | GOOD | FINE | EXTREMELY FINE | UNCIRCULATED |
|---|---|---|---|---|
| 1936 Lincoln Penny | $0.15 | $0.25 | $1.50 | $2.60 |
| 1936 Lincoln Penny (D) | $0.15 | $0.30 | $1 | $2 |
| 1936 Lincoln Penny (S) | $0.15 | $0.40 | $1 | $3 |
The 1936 Wheat penny in your hand is one of the 310 million pennies made in Philadelphia that year if it lacks a mint mark. Brown coins typically only have a few dollars' worth of value when they are in worse shape. A couple of bucks more is worth the color red and brown.
Red coins are nearly invariably examples of mint state coins, meaning they have very little wear because they have never been used in circulation. Mint state coins are classed 60 and above on the coin grading scale, which goes from 1 to 70.
A 1941 red Philadelphia penny graded MS60 is valued at about $7. At MS65, the highest point at which a coin is classified as a "gem," that increases to $28. Four red pennies classified MS68 are among the finest examples that have been discovered to date. Each of those is valued at an astounding $17,750 by the PCGS.
| Color | Grade | Value Range | Remarks |
|---|---|---|---|
| Brown | MS60 | $2 | Common circulated coins with low value |
| Red Brown | MS60 | $7 | Slightly more valuable |
| Red | MS60 | $7 | Uncirculated coins with minimal wear |
| Red | MS65 | $28 | "Gem" condition, higher value |
| Red | MS68 | $17,750 | Extremely rare, highest-grade coin |
In 1941, the Denver Mint produced over 40 million pennies. Millions of brown coins are thought to still exist. However, red examples are significantly less common—just 6,000 are believed to have survived.
Due to the easy access to brown Denver pennies, the majority of circulating samples will only be valued at face value. (Coins with intriguing Mint faults are the exceptions.) Values in most grades are identical to their Philadelphia counterparts in immaculate condition. A brown coin is valued at roughly $2 at MS60, a red and brown coin at about $5, and a red coin at about $7.
Red Denver pennies do carry a premium at MS67. A red cent at MS67 grade costs approximately $300, or $40 more than its Philadelphia counterpart. However, even though the PCGS has only graded one red cent as MS68, that coin is still worth $17,500. Compared to a Philadelphia coin of the same grade and color, that is over $3,000 less.
| Color | Grade | Value Range | Remarks |
|---|---|---|---|
| Brown | MS60 | $2 | Commonly available in lower condition |
| Red Brown | MS60 | $5 | Moderate value for uncirculated condition |
| Red | MS60 | $7 | Entry-level uncirculated condition |
| Red | MS67 | $300 | Premium for high-grade red coins |
| Red | MS68 | $17,500 | Rare, but lower value compared to Philadelphia |
In 1936, more than 29 million Wheat pennies were produced at the San Francisco Mint. That theoretically means that among all the pennies from that year, the "S" mint mark is the rarest.
Brown coins, however, are still readily available in circulated grades. Additionally, they won't be worth more than their face value unless there is a Mint error. The value of red and brown 1936-S coins is approximately $5 at MS60 and $66 at MS65.
Additionally, red pennies range in value from $8 at MS60 to $5,750 for MS67+, the highest grade currently available for this mintage.
| Color | Grade | Value Range | Remarks |
|---|---|---|---|
| Brown | MS60 | $2 | Lower value due to common availability |
| Red Brown | MS60 | $5 | Moderate value |
| Red | MS60 | $8 | Entry-level red coin |
| Red | MS65 | $66 | Higher grade with significant value |
| Red | MS67 | $5,750 | Highest grade for this mintage |
The Philadelphia Mint operation struck proof pennies for collectors in addition to business striking. There were two finishes available for these: dazzling and satin. Having been the first to be struck, the coins with a satin finish are now the rarest. Less than 600 of the original proof run of little more than 5,500 are thought to have survived.
They are color-graded in the same way as business strike pennies. Since proofs are by definition uncirculated coins, PR60 is the lowest grade that is currently available. At that grade, a red and brown coin is valued at around $275, a red one at about $325, and a brown specimen at about $215.
A red satin proof rated PR67 is the best exemplar that is currently known. Because it is unique, the PCGS values it at $22,500.
| Color | Grade | Value Range | Remarks |
|---|---|---|---|
| Brown | PR60 | $215 | Lowest proof grade, still valuable |
| Red Brown | PR60 | $275 | Moderate value for proof condition |
| Red | PR60 | $325 | Highest value in this grade |
| Red | PR67 | $22,500 | Rare, highest known grade |
Brilliantly finished 1936 proof coins are likewise very sought after by collectors. A very small number of coins have also been given the designation "cameos," in addition to the traditional three color grades. The frosted devices and shiny fields on these coins create a visually appealing contrast.
Brown brilliant proofs range in price from $200 for a PR60 example to $1,150 for a PR66 example. The range for brown and red coins is $1,900 at PR66 to $225 at PR60. (The PCGS does not estimate the value of the coin it has certified at PR67.) The price range for red dazzling proofs is $260 at PR60 to $23,500 at PR67.
Additionally, a coin graded PR63 will cost you at least $1,900 if you desire one of the few remaining cameos. At PR65, values reached five figures. The pièce de la crème is a single outstanding cameo valued at an incredible $50,000 and classified PR67.
| Color | Grade | Value Range | Remarks |
|---|---|---|---|
| Brown | PR60 | $200 | Entry-level value for proof coins |
| Red Brown | PR60 | $225 | Slightly higher value |
| Red | PR60 | $260 | Highest value for lower-grade red proof |
| Red | PR67 | $23,500 | Highest known grade with substantial value |
| Cameo | PR63 | $1,900 | Rare, special designation with high value |
| Cameo | PR65 | $10,000+ | Extremely valuable cameo coins |
| Cameo | PR67 | $50,000 | Unique and highest valued cameo proof |
Last but not the least, the 1936 Wheat Penny remains a popular choice among coin collectors due to its historical significance and variety of conditions. Whether you're a seasoned collector or just starting, this penny offers something for everyone, from common circulated coins to rare, high 1936 Wheat Penny value variations.
Understanding the mint mark, condition, and potential errors can greatly affect its worth, so it's always important to evaluate your penny carefully. With some luck and knowledge, your 1936 Wheat Penny value can turn out to be a valuable gem in your collection!
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