One lucky collector just hit the jackpot when a 1938 Lincoln Wheat Cent sold for a record-breaking $1.5 million at auction in New York (2025).
This once-overlooked penny proves that even the most ordinary coins, if found in pristine condition or struck with rare errors, can be worth life-changing money. Could the next one be hiding in your coin jar? 🪙
🪙 1938 Wheat Penny Quick Facts
- Minted in: Philadelphia (no mint mark), Denver (D), San Francisco (S)
- Total mintage: 191,886,734
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% tin and zinc
- Weight: 3.11 g
- Edge: Plain
- Series: Lincoln Wheat Cent (1909–1958)
Although 1938 pennies are common in circulation, the right combination of grade and error variety can push values into the thousands — and in rare cases, even millions.
🏷️ 1938 Wheat Penny Value Chart (2025 Update)
| Condition | 1938 (No Mint) | 1938-S | 1938-D | 1938 Proof |
|---|---|---|---|---|
| Good | $0.17 | $0.45 | $0.22 | – |
| Very Fine | $0.45 | $0.85 | $0.90 | – |
| Extra Fine | $1.13 | $1.25 | $1.42 | – |
| Uncirculated | $2.28 | $3.30 | $3.30 | – |
| MS60 | $4.52 | $4.52 | $4.52 | $24 |
| MS63 | $10.00 | $9.13 | $10.00 | $96 |
| MS68+ (Top Grade) | — | — | — | Up to $1.5M |
💎 Auction Highlight: In 2025, a 1938-D Lincoln Cent graded MS68+ RD with a doubled die and repunched mint mark (RPM) shattered records at $1.5 million.
🔍 Rare 1938 Penny Errors That Add Big Value
- 🔄 Off-Center Strike
- Slight misalignments: $30–$60
- 50%+ off-center in mint state: $5,000+
- 👁️ Doubled Die Error
- Look for doubling in E PLURIBUS UNUM or wheat stalks
- Regular doubled dies: $30–$100
- High-grade: $500–$5,000+
- 💎 The $1.5M coin had this error!
- ⚡ BIE Die Break
- Crack between “B” and “E” in LIBERTY makes it look like “BIE”
- Common: $10–$30
- High-grade: $100+
- 🪙 Repunched Mint Mark (RPM)
- Doubled or tripled “D” or “S” mint mark
- Typical: $10–$50
- Top-grade: $700+
- ✅ The record coin featured this + doubled die combo
🏛️ Highest Auction Prices for 1938 Pennies
- Philadelphia (No Mint): 2005 MS68 RD sold for $6,325
- Denver (D): 2007 MS68 RD sold for $4,313
- San Francisco (S): 2014 MS68 RD sold for $2,115
- Proof Strike: 2025 MS68+ RD error coin sold for $1.5 million
📚 1938 Penny FAQ
❓ What makes a 1938 penny valuable?
- Condition (MS65+ Red) = big money
- Errors (doubled die, RPM, off-center, die breaks) = thousands
- Perfect storm (multiple errors + gem grade) = record prices
💵 How much is a 1938 Wheat Penny worth?
- Circulated: $0.15 – $5
- Proofs: Up to $100+
- Mint-state: $50 – $500
- Major errors: $1,000 – $10,000+
- Record auction (2025): $1.5M
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