As a seasoned US coin collecting expert, I'm excited to delve into the fascinating world of the 1936 Wheat penny. This seemingly ordinary coin could be worth far more than its face value, depending on various factors. Let's explore the history, value, and allure of this numismatic treasure.
A Brief History of the Lincoln Wheat Penny
The Lincoln Wheat penny, first minted in 1909, holds a special place in American numismatics. Designed by Victor David Brenner to commemorate the 100th anniversary of Abraham Lincoln's birth, these coins were produced until 1958.
Key Features of the 1936 Wheat Penny
- Obverse: Abraham Lincoln's profile facing right
- Reverse: Two wheat stalks framing "ONE CENT"
- Composition: 95% copper, 5% tin and zinc
- Diameter: 19 mm
- Weight: 3.11 grams
The 1936 Minting: A Year in Focus
1936 was a significant year for penny production, with over 309 million coins struck across three mints:
- Philadelphia: 309,637,000 (no mint mark)
- Denver: 40,620,000 (D mint mark)
- San Francisco: 29,130,000 (S mint mark)
Factors Influencing the 1936 Wheat Penny's Value
Several elements contribute to a 1936 Wheat penny's worth:
- Mint mark
- Condition (grade)
- Color
- Rarity
- Errors or varieties
Mint Marks and Their Impact
The absence or presence of a mint mark can significantly affect a coin's value:
- No mint mark (Philadelphia): Most common, but high-grade examples can be valuable
- D (Denver): Less common, generally more valuable
- S (San Francisco): Least common, often commands higher prices
Grading the 1936 Wheat Penny
The Sheldon Scale, ranging from 1 to 70, is used to grade coins. For 1936 Wheat pennies:
- 1-10: Heavily circulated
- 11-59: Circulated but with varying degrees of detail
- 60-70: Uncirculated (Mint State)
Color Designations
Copper coins receive color designations that impact their value:
- Brown (BN): Least valuable
- Red-Brown (RB): Intermediate value
- Red (RD): Most desirable and valuable
Value Breakdown by Mint and Condition
1936 (Philadelphia) No Mint Mark
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| G-4 | $0.10 | – | – |
| F-12 | $0.15 | – | – |
| VF-20 | $0.20 | – | – |
| MS-60 | $4 | $5 | $7 |
| MS-65 | $8 | $24 | $26 |
| MS-67 | $65 | $115 | $260 |
1936-D (Denver)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| G-4 | $0.15 | – | – |
| F-12 | $0.20 | – | – |
| VF-20 | $0.25 | – | – |
| MS-60 | $5 | $6 | $8 |
| MS-65 | $45 | $60 | $75 |
| MS-67 | $1,250 | $2,000 | $3,500 |
1936-S (San Francisco)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| G-4 | $0.20 | – | – |
| F-12 | $0.25 | – | – |
| VF-20 | $0.30 | – | – |
| MS-60 | $6 | $7 | $9 |
| MS-65 | $65 | $85 | $100 |
| MS-67 | $2,000 | $3,000 | $5,000 |
Rare Varieties and Errors
Certain 1936 Wheat pennies with minting errors or variations can be exceptionally valuable:
1. Double Die Obverse (FS-101)
- Doubling visible on date and "IN GOD WE TRUST"
- MS-65 Red value: Approximately $8,000
2. Double Die Obverse (FS-102)
- Slight doubling on date
- MS-65 Red value: Around $1,000
3. Repunched Mint Mark (1936-D RPM-001)
- D mint mark shows clear repunching
- MS-65 Red value: Approximately $500
Proof 1936 Wheat Pennies
The Philadelphia Mint produced two types of proof pennies in 1936:
-
Satin Proof
- Mintage: Approximately 5,500
- PR-67 Red value: Up to $22,500
-
Brilliant Proof
- More common than Satin Proofs
- PR-67 Red value: Up to $23,500
- PR-67 Red Cameo value: Up to $40,000
Tips for Identifying Valuable 1936 Wheat Pennies
- Use a magnifying glass or coin loupe to examine details.
- Check for mint marks under the date on the obverse.
- Look for signs of wear, especially on Lincoln's cheek and hair.
- Assess the coin's color under good lighting.
- Search for any doubling or errors, particularly on the date and lettering.
Preserving Your 1936 Wheat Penny
To maintain your coin's value:
- Handle by the edges to avoid touching the faces.
- Store in non-PVC coin holders or flips.
- Keep in a cool, dry environment away from direct sunlight.
- Consider professional grading for high-value specimens.
Where to Sell Your Valuable 1936 Wheat Penny
If you believe you have a valuable 1936 Wheat penny, consider these options:
- Reputable local coin shops
- Online marketplaces (eBay, Heritage Auctions)
- Coin shows and conventions
- Professional numismatic auction houses
Always research current market values and get multiple appraisals before selling.
The Collector's Perspective
As a US coin collecting expert, I've seen countless 1936 Wheat pennies over the years. While most are worth only face value, the thrill of finding a high-grade or rare variety specimen never fades. The 1936 issue holds a special place in many collections due to its historical significance and potential for hidden value.
Historical Context of the 1936 Wheat Penny
The year 1936 was a pivotal time in American history:
- The country was still recovering from the Great Depression
- Franklin D. Roosevelt was re-elected president
- The Olympics were held in Berlin, Germany
These pennies serve as tangible links to this important era, adding to their appeal for both collectors and history enthusiasts.
Investing in 1936 Wheat Pennies
While not typically considered investment-grade coins, high-quality 1936 Wheat pennies have shown steady appreciation over time. For example:
- A 1936-S MS-65 Red penny valued at $35 in 2000 is now worth around $100
- A 1936 (Philadelphia) MS-67 Red penny valued at $150 in 2000 now fetches about $260
This demonstrates the potential for long-term value growth in top-condition specimens.
Conclusion: The Enduring Allure of the 1936 Wheat Penny
The 1936 Wheat penny may seem unremarkable at first glance, but its potential value and historical significance make it a fascinating subject for collectors and numismatists alike. Whether you're a seasoned collector or just starting to explore the world of coin collecting, the 1936 Wheat penny offers an accessible entry point into a rich hobby steeped in American history.
Remember, while most 1936 pennies you'll encounter are worth only face value, the possibility of discovering a rare variety or high-grade specimen adds an element of excitement to every handful of change. So, the next time you come across a 1936 Wheat penny, take a moment to appreciate this small piece of numismatic history – you never know what hidden treasure you might be holding!
