1929 Wheat Penny Value: How Much Is It Worth Today?

Wheat pennies are one of the most popular series of US coins. In this article, we will be talking about a 1929 wheat penny value, its characteristics, history, errors, and more.

Stick around to find out everything you need to know about this coin whether you are looking to sell, buy, or just learn more about it.

1929 Wheat Penny Value Chart
Condition	1929 No Mint Mark Wheat Penny Value	1929 D Mint Mark Wheat Penny Value	1929 S Mint Mark Wheat Penny Value
Poor	$0.01	$0.01 – $0.10	$0.01 – $0.10
Fair	$0.01 – $0.10	$0.10 – $0.25	$0.10 – $0.25
About good	$0.10 – $0.20	$0.25 – $0.50	$0.25 – $0.50
Good	$0.20 – $0.30	$0.50 – $1	$0.50 – $1
Fine	$0.30 – $0.40	$1 – $1.50	$1 – $1.50
Very fine	$0.40 – $1	$1.50 – $5	$1.50 – $5
Extremely fine	$1 – $5	$5 – $10	$5 – $10
About Uncirculated	$5 – $10	$10 – $20	$10 – $20
Mint state (60-64)	$10 – $20	$20 – $50	$20 – $50
Mint state (65-67)	$20 – $50	$50 – $100	$50 – $100
Mint state (68-70)	$50 – $100 +	$100 +	$100 +

1929 No Mint Mark Wheat Penny Value

A penny from 1929 with no mint mark means that it was minted in Philadelphia. These pennies are made of 95% copper and 5% of tin and zinc coat. They weigh 3.11 grams (0.1 oz.) and are 19 millimeters (0.7 inches) in diameter each.

1929 Wheat Penny History

The first penny in US history was made in 1793, just a year after the US Mint started operating. The initial design of a penny included a woman representing liberty on the front, and while the forms changed, a penny featured liberty for more than six decades.

The design changed in 1857 when the US Mint introduced a flying eagle on the front and flowers on the reverse of the penny. This design went on for only two years and it was replaced by the famous Indian Head penny that was in circulation for the next fifty years.

In 1909, the design was changed to honor the life of Abraham Lincoln. Since he is one of the most important people in US history, it made sense to commemorate his hundredth birthday by featuring him on one of the most used coins on the market.

While the reverse has changed several times throughout the past century, the obverse has continued to feature the ex-president, which is why this penny is also known as a Lincoln cent.

When it comes to the composition, a penny was much larger in the beginning. It was made entirely out of copper but the composition changed in 1857 to also include nickel. During a short time in World War II, the pennies were made of steel coated with zinc.

1929 Wheat Penny Appearance

A wheat penny was designed by Victor David Brenner.

A penny from 1929 shows Abraham Lincoln’s right-facing portrait at the center of the obverse. On top of his head, you can see the US motto – IN GOD WE TRUST. To his left side is the word LIBERTY and to his right side is the year 1929.

The reverse has the denomination and the name of the country at the center of the coin. The top of the coin is reserved for another US motto – ET PLURIBUS UNUM. There are also two sheaves of wheat on the left and the right side of the coin.

1929 No Mint Mark Wheat Penny Price

The Philadelphia Mint made 185 262 000 pennies in 1929. The price of a 1929 penny without a mint mark isn’t that high, especially for the coins that are not in perfect condition. Pennies that are in poor or good condition can sell for only around a cent to a dollar.

Those in extremely fine and uncirculated condition can sell for approximately up to ten dollars.

If your coin is graded MS60 to MS65, you can probably expect to get up to around a hundred dollars, based on the auctions held in the previous several years. There were some MS65 pennies sold for as much as $500.

For the pennies from 1929 graded 66, the price is as little as $250 and as high as more than a thousand dollars.

You are particularly lucky if your penny is graded MS67 because a penny of this grade can sell for over $5 000, like the one sold in 2014.

Following this price pattern, pennies that have a grade of 68, 69, or 79 could be worth tens of thousands of dollars. However, those are extremely rare, if even possible to find.

1929 D Mint Mark Wheat Penny Value

Another location where pennies were minted in 1929 is in Denver. These coins have a D mint mark to indicate the location in which they were produced. The mint mark is located on the obverse, just below the year.

The Denver Mint made 41 730 000 pennies back then. Although 1929 was more than a century ago, over forty million pennies is a huge number, so these coins are not rare and there are plenty of them to go around. You can find them online or at your local auctions.

Furthermore, pennies don’t have any precious metal content, so their melting value is minuscule.

A penny from 1929 in poor condition can be sold for only its face value and maybe several cents more. Those in good condition are worth only around a dollar, while the extremely fine specimens can reach the price of approximately ten dollars.

Uncirculated coins can be worth up to $20 on average, but the price gets higher when a coin is in mint state.

Based on the auctions from the previous three years, a penny from 1929 with a grade of MS65 is worth anywhere between two hundred and a thousand dollars.

If you are fortunate enough to be in the possession of a penny with a grade of 66, you can get thousands! In fact, the most someone paid for this coin was $7 800 in 2021.

Pennies from 1929 that are in even better condition are extremely difficult to come by. This, of course, means that their price can reach tens of thousands of dollars!

Compared to its counterpart from Philadelphia, 1929 pennies from Denver are a bit more valuable because there were fewer of them made in this location.

If you are looking to buy or sell a 1929-D penny, keep in mind that these prices are just estimates based on the previous auctions. You may be able to sell your coin for much more than previous sellers did if the circumstances are right and you find a very interested buyer.

Similarly, if you want to buy a penny from 1929 with a D mint mark, you may be able to find one that is well-graded but not that expensive.

Perhaps a seller needs money as soon as possible so they are willing to sell it below its actual value. In this case, you can hold onto it and make a profit later on.

1929 S Mint Mark Wheat Penny Value

The third and final variety of a penny from 1929 is the one produced in San Francisco. These pennies are engraved with an S mint mark and there were 50 148 000 of them produced.

This is more than twice fewer than the number of pennies that came out of Denver and almost ten times fewer than the number of pennies from Philadelphia.

The 1929-S pennies are slightly more valuable than those with no mint mark but around the same price range as the 1929-D cents.

Coins in poor to bad condition are worth up to a dollar, while uncirculated coins cost up to about $20.

Pennies from 1929 that are graded MS60 to MS64 are worth up to a hundred dollars on average. In the past three years, the highest price for the penny in this range was $215 at grade 64 and it was sold in 2022.

The price for a penny with a grade of 65 ranges from $150 to $1 000.

As you can see, the price difference is huge, but this only means that if you are looking to sell a penny from 1929 and it seems that no one is interested in the price you offer, you should wait until someone who values your coin as much as you do shows up.

The same goes for buyers. It is very likely that you will be able to find a cheaper coin of the same grade you are looking for only if you wait for a bit.

Finally, it’s worth mentioning that the highest price that a 1929-S penny reached at auctions in the past couple of years is $7 800. The coin had a grade of 66. Generally, pennies with this grade usually sell for at least several thousand dollars.

1929 Wheat Penny Grading

Before selling your coin, you should seriously consider having it graded first. The most reputable coin grading services are PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), but there are several more that are good and reliable.

If you decide to have your coin professionally graded, you can avoid mistakes in pricing that are almost certain to happen if you are not an experienced numismatist.

Rare 1929 Wheat Penny Error Lists

Apart from a coin’s rarity and condition, another factor that can affect its value is a potential mint error that occurs during the production of the coins in the factory. Here are some of the errors that you may find on a 1929 penny.

1929 Wheat Penny Strike-Through

cImage Credit: ebayA strike-through error happens when something accidentally gets between the dies and the planchet during striking. This object (usually a piece of metal) then leaves a spot behind, resulting in a stained design.

1929 Wheat Penny Lamination

A lamination error happens when something gets stuck on a planchet before it is struck and coated with tin and zinc. This causes the surface of the penny to break down or fall off completely, leaving an empty part of the design.

1929 Wheat Penny Clipped Planchet

When the mint makes planchets, some of them can accidentally get clipped by the machines and go on to get engraved. The errored coin will then have a missing part around the edge. This mistake can be small or severe, but either way, it is very interesting to see.

1929 Wheat Penny Die Crack

Dies strike to engrave the design onto the coins with great force. This force can cause damage that will then be reflected on the coins. Die cracks look like lines, cuds, or raised parts of a penny, depending on the type of damage the dies suffered.

In the case of a Wheat penny from 1929, a die crack can appear right in front of Abraham Lincoln’s mouth, making it seem like he is spitting. Because of this, the error is also known as “spitting Lincoln”.

1929 Wheat Penny FAQ

How much is the 1929 penny worth?

A penny from 1929 can be worth as little as one cent and as high as seven thousand dollars and more. The price largely depends on the condition of the coin, so you can expect to get thousands of dollars if your penny is graded MS65+.

Is a 1929 penny rare?

A 1929 penny is not really rare. The US Mint produced almost 300 million pennies in 1929 so there are still a lot of them around. However, it is rare to find those in almost perfect condition, so if you have a well-preserved specimen, it is very likely to be rare.

What makes a 1929 wheat penny valuable?

A wheat penny minted in 1929 can be considered valuable if it is in remarkable condition. Pennies from this year with a grade higher than 67 are almost non-existent, so they are extremely rare. However, even the coins graded MS60 to MS67 are highly valuable.