Do you want to know the value of a wheat penny in 1950? Have you ever come across this coin or know someone who keeps it well and wondered what its value will be?
In this guide, we will not only tell you about its value, but also about its historical context, different types of coins, most common errors, and frequently asked questions about this magnificent coin.
The 1950 Wheat Penny or Lincoln Cent is an ideal coin for those just starting out in the world of coin collecting because it is part of the history of a great coin while remaining affordable to all.
This is a highly recommended coin for those who are just starting to collect coins. So in this article, we will accompany all the first-timers in collecting coins, to choose the best way, well informed and sure of where they invest their money.
1950 Wheat Penny Value Chart
|Quality||1926 No Mint Mark Wheat Penny Value||1926 San Francisco (S) Wheat Penny Value||1926 Denver (D) Wheat Penny Value|
The Wheat cents or Lincoln Cents include the 1950 cents. Because of its significance, as well as the success and popular approval it has always received, this coin is regarded as one of the most important in American history.
The coin was first produced in 1909, and it has been minted year after year since then. Its design has changed several times, but the obverse with Abraham Lincoln’s face has never been changed. Only the typography and sizes have been changed.
The Lincoln Cent is significant because it represents the beginning and end of a period in North American numismatic history. This coin was the first to feature a president’s face on the obverse.
Before the Lincoln Cent, the founding fathers, particularly George Washington, desire not to mint coins with real people’s faces was always respected. This was a common practice in Europe, where monarchies reigned for centuries.
On the other hand, because the United States had just gained independence from England, they wanted to get as far away from monarchical systems and customs as possible.
The practice of not minting coins with real people persisted until the early twentieth century when President Roosevelt launched a campaign to improve the artistic quality of American coins.
The idea for a coin commemorating the 100th anniversary of the legendary President Lincoln’s birth arose as part of this project.
The renowned artist Augustus Saint-Gaudens, who was the teacher of several artists who would later design many of the new coins to come, was in charge of carrying out this task.
However, Saint-Gaudens became seriously ill and died of cancer shortly after, leaving his task unfinished; only a couple of his sketches were used for the one-dollar and the half-dollar coins.
Before Saint-Gaudens’ death, President Roosevelt contacted Victor David Brenner, who had worked on some Roosevelt medals.
It’s also said that President Roosevelt was aware of Brenner’s work and admired a memorial plaque he created for Lincoln.
Brenner was given specific instructions, and after a few minor changes, the Lincoln Cent was ready to be minted in 1909.
The original design is retained on the 1950 coin, but the reverse is changed to the Lincoln Memorial nine years later. The reverse of the coin was redesigned with four different designs for the 200th anniversary of Lincoln’s birth.
1950 No Mint Mark (Philadelphia) Wheat Penny Value
Philadelphia coins are distinguished by the absence of a mint mark. The mint mark is typically a sign or letter struck on the coin in an inconspicuous location. This allows you to learn about the coin’s history and determine its value.
The coins with the highest monetary value are usually produced by the factory that contributed the least to the year’s total production. However, this is not the case in Philadelphia, which contributed many coins that are now very easy to find.
Even the best pieces that have never been in circulation have very low prices and are ideal for beginning a collection or investing in a gem-quality piece to resell over time for a considerable amount.
Victor David Brenner, a Lithuanian migrant who arrived in the United States in the nineteenth century and trained with the best engravers of the time, including the renowned French master Oscar Roty, designed the obverse and reverse.
When Brenner was contracted to design the penny, he was given specific instructions for the obverse: President Lincoln’s face.
This measure was highly contentious, but it was also eagerly anticipated by everyone. People adored former President Abraham Lincoln, and many politicians, including President Franklin D. Roosevelt, saw himself as the heir to Lincoln’s legacy.
So when the coin was released, everyone welcomed it, despite the fact that it was the first coin to break with the numismatic tradition of not putting real people’s faces on American coins.
The main figure on the coin is Abraham Lincoln, who is depicted in profile. Brenner is said to have made a Lincoln commemorative plaque before making the coin, and Roosevelt was interested in having Brenner make the coin because of that plaque.
The front portrait is said to be based on an unpublished photograph given to him by his friend Charles Eliot Norton, who photographed the president in 1864.
On the top edge of the coin, the obverse also includes the phrase IN GOD WE TRUST. The word LIBERTY appears on the left side of the coin, just above Lincoln’s neck.
The minting date is on the right side of the coin, and the mint mark for the coin is below the date.
Because these coins are from Philadelphia, they lack an identifying mint mark.
The opposite side of the coin has a more sober and functional design. On the sides of the coin, there are two ears or stalks of wheat that serve as a frame for the word ONE CENT, which is read in the center of the coin.
This design is said to be very similar to a French coin designed by Oscar Roty, a well-known French medalist and Brenner’s former teacher.
The fact that it was based on an existing coin, however, does not diminish the artist’s talent. Many critics claimed that Brenner’s design knew how to stand out and create the necessary elements for the coin to be a good representation of the American people.
UNITED STATES OF AMERICA is written beneath the word ONE CENT. The Latin motto “E PLURIBUS UNUM” (one of many) appears on the coin’s upper edge. This motto has long accompanied many American coins.
In comparison to many other collectible coins, 1950 coins are relatively new. The value of one of these coins is thus very accessible to any budget. You don’t have to be an expert collector to get a good deal on one of these gem-state coins.
In this particular year, the Philadelphia mint did not mint the majority of the coins but was located near Denver, which did the majority of the production. As a result, the Philadelphia and Denver coins are slightly less valuable than the scarcer San Francisco coins.
Circulated coins cost no more than 22 cents, and you can pick up an uncirculated coin for as little as 38 cents. You can even buy a nice gem-quality MS 65 coin for as little as $2.22.
However, there are records of one of these MS 69 gem condition coins being sold for the incredible sum of $4,000.
1950 San Francisco (S) Wheat Penny Value
In 1950, the San Francisco mint produced the fewest coins. Only 118,505,000 1950 coins were produced, which was less than half of what was produced by the Philadelphia and Denver mints.
The mint mark on a coin from San Francisco can be used to identify it. The mint mark is a sign or letter that indicates the location of the mint house. The mintmark on San Francisco coins is an “S.”
The letter S can be found on the obverse of the coin, just below the minting date.
Although San Francisco minted the fewest coins, this does not imply that they are valuable. Only 73 years have passed since its creation, and you can still find them in circulation or purchase them at a very low price in online stores.
However, we believe that now is a good time to invest a few dollars and acquire a specimen in high gem condition. You will insure yourself with a coin that will undoubtedly increase in value over time.
The value of coins in circulation is only a few cents. The best quality ones will cost no more than 22 cents. If you plan to invest money in one that is in gem condition, the MS 65 quality ones are a very good option and cost a little more than two dollars, the same as you would spend on a soda and a snack.
However, there are specimens that can be worth significant sums. There is a record of a penny that sold for 9 thousand dollars in almost perfect condition.
1950 Denver (D) Wheat Penny Value
In 1950, the Denver mint produced 334,950,000 Lincoln pennies. This was somewhat unusual because Denver contributed the most coins to production.
Normally, Philadelphia handles the majority of the coins, but in 1950, it shared the load with Denver. As a result, the Denver and Philadelphia coins are the most plentiful and common.
To identify a Denver coin, examine the mint mark on the coin. Denver’s coins were inscribed with the letter “D.” This mintmark can be found on the obverse of the coin, just below the minting date.
Denver coins cost the same as coins from Philadelphia or San Francisco. To invest in a coin that has been in circulation but is in good condition, you only need 22 cents.
If you want to buy one that hasn’t been in circulation, simply double the price and you’ll pay less than 50 cents. If you are considering purchasing a 1950 penny, we recommend that you take advantage of the current market and look for the highest quality coins you can find.
Do not be alarmed because this does not imply a large sum of money. A high-quality MS 65 coin can be purchased for as little as $2.22. So the best thing to do is to invest some money and then wait for it to grow.
But that does not mean that this coin is worthless in higher quality. A Denver coin is known to have sold for $15,000 in near-mint condition.
1950 Proof Wheat Penny Value
The Philadelphia mint produced 51,386 proof coins in 1950. These coins were never circulated and were only available to collectors and people close to the mint.
They are available on the open market. They are normally priced at $79 each.
1950 Wheat Penny Grading
Understanding the various degrees of conservation that a coin has is essential for those who want to begin collecting coins. We’ve included a video of the various grades and values of the 1950 cent.
Rare 1950 Wheat Penny Error List
1950 pennies with mintage errors are rare and can add some value to these usually cheap coins. Here are some of the most known errors.
1950 Denver Wheat Penny with Broad struck Error
This error occurs when minting the coin. The dies may be worn or the coin may have to be struck several times. Details are lost in the process. One of these coins sold for $28, while another recently sold for $95. These coins come from Denver, so they should all have the “D” mintmark.
1950 Denver Wheat Penny with Off-Center Strike Error
In this error, the coin was off-centered by 20%. This means that the image did not come out completely and there is a blank space in the coin. These coins also come from Denver if one of these coins sold for $180.
Another equal coin, but with an offset of 60% was sold at 225 dollars.
1950 Wheat Penny FAQ
Is there anything special about a 1950 penny?
The 1950 penny is not a particularly special coin. But it is at a key time for collectors to be able to acquire high-grade pieces for a low price. It is a currency that will be much more appreciated in the future.
Is a 1950 wheat penny worth any money?
Coins that have been in circulation can be worth anywhere from 22 to 40 cents. But you can get nice examples in MS 65 quality for just a couple of dollars. It is not a valuable coin, but perfect for those who want to start a collection.