1957 Wheat Penny Value: How Much Is It Worth Today?

The 1957 wheat penny is part of the Lincoln series, named after President Abraham Lincoln, and has a wheat design on the back, used from 1909 to 1958. It was initially produced with a denomination of $0.01, but today, it’s worth more than just 1 cent and could go as high as thousands of dollars. But why is this coin so special? This blog post will discuss the 1957 wheat penny value, varieties, errors, unique features, and other interesting facts about this coin.

1957 Wheat Penny Value Chart

Use this price value chart to estimate your 1957 wheat penny value depending on its condition. We suggest contacting a professional coin dealer to get an appraisal and determine the current state of your 1957 penny.

1957 Wheat Penny Value Chart
Mint Mark	MS63	MS64	MS65	MS66	MS67
1957 No Mint Mark Wheat Penny Value	$0.50	$0.73	$2.45	$12.96	$61
1957 D Wheat Penny Value	$0.75	$1	$2.50	$12	$130
1957 Wheat Penny
	PR63	PR64	PR65	PR66	PR67
1957 No Mint Mark Proof Wheat Penny Value	$2.15	$2.45	$2.84	$11.34	$32.40

1957 No Mint Mark Wheat Penny Value

The coin is part of the Lincoln series, named after the famous president Abraham Lincoln, and has a wheat design on the back; used from 1909 to 1958. The coin is made of bronze and has a composition of 95% copper, 5% zinc, and tin.

In 1957, Lincoln wheat cents were still being produced, with a face value of $0.01. There were 282,540,000 of 1957 without mint mark minted. This coin has only two varieties: mint states (either no mint mark or D) and proof strikes (only no mint mark). Philadelphia produced two of these varieties. And Denver made only mint states with a “D” mint mark.

This variety of wheat cents is a Mint State (MS) from Philadelphia. If you take a closer look, you’ll notice that the penny is round and has a diameter of 19 mm. It’s not very heavy either, weighing in at 3.11 grams. On the obverse, you’ll see the words “IN GOD WE TRUST,” “LIBERTY,” the year “1957”, and the designated mint mark. For this variation, there is no mint mark on the coin as it is from Philadelphia.

Victor D. Brenner, who also designed the famous Lincoln profile on the obverse, created this design for the 1957 wheat penny. The first coins struck in 1909 bore his “VDB” initials on the obverse side. It caused a public outcry, and the initials were subsequently removed. In 1918, they restored it in a smaller font under Lincoln’s shoulder.

On the reverse, you’ll find the words “E PLURIBUS UNUM,” “ONE CENT,” and “UNITED STATES OF AMERICA,” which were also designed by Brenner. The coin has a business strike type, which means it was made for circulation.

The value of a 1957 wheat penny varies depending on its condition, mintmark, and colors. A typical 1957 penny without any special characteristics or defects is worth about $0.17 to $61.00 in circulated condition. If the penny is uncirculated and has a red-brown (RB) color, it could be worth between $0.55 to $74.00.

On the other hand, an uncirculated 1957 penny with a red (RD) color could be worth between $0.80 to $1,880. The mintmark, which can be found on the obverse side of the penny, is also a factor in determining its value.

The highest recorded 1957 wheat penny sold was $2,300 for an MS63 coin pressed on a 10-cent planchet in 2007. The second highest sale was one MS63 and MS64 sold at the same price of $2,280 but with different variations. The first one in 2017 has the same error as the first highest sold in 2007, while the second one in 2021 was struck on a dime planchet. All three sales happened at the Heritage Auctions in those years.

1957 D Wheat Penny Value

A mintage of 1,051,342,000 1957 D wheat penny is produced in Denver and distinguished by a small “D” mint mark. This mark signifies that the Denver Mint produced them, which had already made more than a billion Lincoln pennies by that time. The Denver Mint, which now offers tours, was initially established to create silver and gold coins in 1863 and only started making Lincoln cents in 1911. Today, it can still be found at 320 W. Colfax Ave in Denver, CO.

In November 2007, David Lawrence Rare Coins sold the highest-priced 1957 wheat penny at an auction for $4,945. The Professional Coin Grading Service (PCGS) graded the penny as MS67, signifying an exceptional state of preservation with only minor flaws visible under magnification.

Another noteworthy auction sale of a 1957 wheat penny occurred in August of the same year by Bowers & Merena. The coin, also graded as MS67 by PCGS, fetched a price of $4,428.

1957 No Mint Mark Proof Wheat Penny Value

The 1957 Proof Wheat Penny from Philadelphia has a mintage of 1,247,952. This variety has a strike type of proof, which means it was struck with specially polished dies and planchets to give it a mirrored finish. This particular coin has a designation of “PR,” indicating its proof status. The coin is worth different amounts depending on its condition and color. A 1957 BN (brown) can be worth anywhere from $0.85 to $24.30, a 1957 RB (red-brown) is between $1.10 to $32.40, and a 1957 RD (red) is for $1.50 to $262.

The David Lawrence Rare Coins recently auctioned two 1957 Lincoln Wheat Cents with a Proof 69 RD (red) designation in January 2023. One of these coins was sold for $153; another one was sold for $155. Although these coins were in excellent condition, they did not sell for as much as some other rare 1957 penny due to their relatively high mintage and the fact that they are not key dates in the Lincoln cent series.

1957 Wheat Penny Grading

The Sheldon Scale is used to evaluate the condition of wheat pennies minted in 1957. The grading system categorizes coins into different Mint State (MS) levels, each reflecting a distinct appearance. 1957 pennies on the lower end of the MS scale (MS60) may exhibit visible contact marks, spotting, and hairlines and may have dull or muted mint luster.

As coins move up the MS scale (MS67), they tend to have fewer contact marks and better visual appeal, including solid to exceptional mint luster and sharp strikes. Watch this video to learn how to identify valuable wheat pennies.

Rare 1957 Wheat Penny Error Lists

Here is a list of errors affecting the value of the 1957 wheat penny. Additionally, we recommend watching the video below that discusses a rare variation of the 1957 penny that is worth a significant amount of money.

1. 1957 Wheat Penny Struck on Wrong Planchet Error

These 1957 wheat penny errors refer to a set of coins struck on the wrong planchets, resulting in unusual and rare errors that collectors highly treasure. One of the most common types of these errors in the 1957 wheat penny is when the coin was struck on a 10-cent planchet instead of a 1-cent planchet. It resulted in a smaller coin that weighed less than it should and had a different color and composition.

Another type of wrong planchet error is when the penny is struck on a dime or silver dime planchet instead of a cent planchet. This error is much rarer and more valuable than the 10-cent planchet error. This coin’s error can be worth hundreds or even thousands of dollars depending on the error type and the coin’s condition.

In addition to these errors, some 1957 wheat pennies were even struck on Hondura’s 1-cent planchets, which are valuable at $600 or more. These coins are considered to be one of the rarest and most treasured errors in coin collecting.

2. 1957 Wheat Penny Off-center Error

During the striking process, the coin blank did not align properly with the dies, resulting in a portion of the design is struck off-center. Some of these off-center errors were recorded to be struck up to 10% off-center, which means that the design is noticeably shifted from its intended position. This can result in a portion of the design being cut off or missing entirely from the coin.

In addition, some of these errors were also recorded to have a straight clip, meaning that a portion of the coin’s outer rim was removed during the striking process, resulting in a flat edge. Being off-center and having a straight clip makes these coins even more rare and valuable to collectors. In fact, one of these 1957 wheat pennies with both errors has sold for as much as $1,320 in recent years.

3. 1957 Wheat Penny DDO Error

The 1957 wheat penny has a unique error known as the Double Die Obverse (DDO) error, resulting in several coin varieties. Four distinct varieties of the Double Die Obverse error have been identified and cataloged as CDDO-001, CDDO-002, CDDO-003, and CDDO-004, according to the Spruce Crafts website.

Each variety has different degrees of doubling and notching on different coin parts. Among these varieties, CDDO-004 is considered the most challenging to identify as it has only one distinguishing characteristic—an additional eyelid situated southeast of the primary eyelid.

4. 1957 Wheat Penny Die Break Error

 

Another 1957 P Lincoln Wheat Penny error is known as the “BIE” Die Break. This particular error happened because of a crack or break in the die used to stamp the coin during production. As a result, an additional letter “I” appeared in the word “LIBERTY” between the letters “B” and “E.” The unique break in the die that caused this error is what led to it being called the “BIE” error, which is worth $14.

1957 Wheat Penny FAQs

Q1: How much is a 1957 wheat penny worth?

In general, a circulated 1957 wheat penny is worth around $0.17 to $0.80, with regular-colored coins at the lower end of that range and coins with reddish-brown or bright red color at the higher end.

If the 1957 penny is in mint state condition (meaning it has never been circulated), its value can be significantly higher, ranging from around $1.50 to $8.00, depending on its color.

Q2: What makes a 1957 D wheat penny valuable?

With a production run of 1,051,342,000 units, the 1957 D wheat penny is the third most common coin in the wheat penny series. However, it still holds value in the numismatic market due to its relative rarity compared to other coins in the same era. This particular penny is part of the second collecting era of wheat cents from 1934 to 1958.

Q3: How do I know if my 1957 wheat penny is worth money?

First, examine the penny’s condition. Check for any scratches, discoloration, or any other damage. Typically, a 1957 penny in good condition has a higher value than one in poor condition. So, look for any signs of wear and tear.

Secondly, verify the date and mint mark. To check the date, look at the front of the penny and find the year 1957. Next, see if it has a mint mark. A “D” mint mark indicates it is a mintage in Denver. Without the mint mark, it shows the coin is produced in Philadelphia, which has lesser value than the ones minted in Denver. Pennies with a proof strike usually hold greater value.

Final Words

We hope this brief introduction to the 1957 wheat penny has encouraged you to explore the world of coin collecting and learn more about the hidden value of seemingly ordinary coins. We invite you to stay updated on our website, where you can find more information about coins that may surprise you with their worth.