In 1938, the Denver Mint produced a total of 20,010,000 Lincoln Wheat Cents. This number is similar to the average mintage of coins produced by the Denver Mint in the 1930s. However, during this period the US was recovering from the Great Depression, and coin production began to slowly increase by 1938.
The 1938-D Lincoln Cent remains in the news due to its historical significance and popularity among collectors. The coin was made of a mixture of 95% copper and 5% tin and zinc, giving it a distinctive red color. If you are interested in coin collecting or want to know the value and history of this coin, this article is for you.
The Historical Value of the 1938-D Lincoln Cent
When the 1938-D Lincoln Cent came into the market, it was worth very little, but over time its value increased tremendously. Here are some historical sales figures that show how the value of this coin has increased:
- 1948: Coin dealer Lu Riggs offered it at $2.75 per uncirculated roll in the August 1948 issue of The Numismatist.
- 1965: Bob Creps quoted a value of $120 per uncirculated roll in the January issue of Numismatic Scrapbook Magazine.
- 1974: Dan Brown sold it at $62.50 per uncirculated roll in the February issue of The Numismatist.
This clearly shows that the demand and value of this coin have steadily increased over time.
Grading and Evaluation of the 1938-D Lincoln Cent
The quality and grading of coins have a major impact on their value. Third-party grading services such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) have assigned high gradings to several 1938-D Lincoln cents.
Highest graded coins and their sales records:
PCGS MS68RD (8 coins) and NGC MS68RD (4 coins) are considered the finest graded versions of this coin ever produced.
Some notable auction sales:
- NGC MS68RD #8207408-010: Heritage Auctions (May 9, 2024) – $2,640
- NGC MS68RD #1921328-002: GreatCollections (October 29, 2023) – Estimated $3,000
- NGC MS68RD #6678343-002: GreatCollections (April 16, 2023) – Estimated $2,900
Highly graded coins are in high demand, driving their value into the thousands of dollars at auction.
Design and Features of the 1938-D Lincoln Cent
This coin was designed by Victor David Brenner, one of America’s most renowned designers.
Main characteristics:
| Category | Details |
|---|---|
| Country | United States of America |
| Year of Issue | 1938 |
| Denomination | 1 Cent (USD) |
| Mintmark | “D” (Denver) |
| Composition | 95% Copper, 5% Tin and Zinc |
| Weight | 3.11 grams |
| Diameter | 19.00 mm |
| Edge | Plain |
The obverse of this coin features a portrait of Abraham Lincoln, while the reverse features two wheat stalks with the words “ONE CENT” and “UNITED STATES OF AMERICA.”
Is the 1938-D Lincoln Cent Rare?
Although the 1938-D Lincoln Cent had a mintage of over 20 million, high-quality (uncirculated) coins became rare over time. Currently, this coin remains important to collectors for the following reasons:
- Limited number of better graded coins – Coins with higher grades (MS67 and MS68) are very rare in the market.
- Declining number of coins over time – Most 1938-D Lincoln cents were in general use, which reduced their quality.
- Sensitivity of Copper Coins – Copper coins tend to oxidize quickly, causing their color and surface to deteriorate.
Conclusion
The 1938-D Lincoln Cent is an important coin in terms of history, design, and grading. If you have this coin, its value can vary considerably depending on its condition and grading. Coins with lower grades can typically be found for a few dollars, but coins with higher grades (MS68RD) can go for thousands of dollars.
If you are a coin collector or planning to buy a 1938-D Lincoln Cent, always buy from a certified auction house or trusted dealers. The historical significance and market value of this coin also make it a great investment option.
Do you have a 1938-D Lincoln Cent? If so, don’t forget to have its grading checked – you may have a rare coin worth thousands of dollars!
FAQs
Q. How many 1938-D Lincoln Cents were minted?
A. The U.S. Mint in Denver produced 20,010,000 coins.
Q. What is the composition of the 1938-D Lincoln Cent?
A. It is made of 95% copper and 5% tin and zinc.
Q. Is the 1938-D Lincoln Cent rare?
A. While not extremely rare, high-grade uncirculated versions are valuable.
Q. How much is a 1938-D Lincoln Cent worth today?
A. Prices vary based on condition, ranging from a few cents to thousands of dollars in MS68RD grade.
Q. Where is the mintmark located on the 1938-D Lincoln Cent?
A. The “D” mintmark is found below the date on the obverse side of the coin.
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