Think your old 1956 Wheat Penny is just pocket change? Think again! 👀
Some of these classic Lincoln cents can fetch hundreds — or even over $1,000 — when found in top condition or with rare mint errors.
At Pennyverse.info, we’ll help you uncover how to identify valuable 1956 Wheat Pennies, where to sell them for the best price, and how collectors worldwide are cashing in. 🌍
🏛️ A Brief History of the 1956 Wheat Penny
The 1956 Lincoln Wheat Penny is part of the iconic Lincoln Cent series (1909–1958) — the last era featuring the beloved “wheat ears” reverse before the 1959 Lincoln Memorial redesign.
⚙️ Composition & Mintage
- Metal: 95% copper, 5% tin and zinc (pre-1982 alloy)
- Minted At:
- Philadelphia (no mintmark): 🪙 420,745,000
- Denver (D): 🏔️ 1,098,201,100
- San Francisco (S): 🌉 186,353,000
💡 Fun Fact: The copper content alone gives each penny a base metal value of about $0.05!
💰 1956 Wheat Penny Value Chart
| Variety | Circulated | Uncirculated (MS-60) | Gem (MS-65+ RD) |
|---|---|---|---|
| 1956 (P) | $0.05–$0.50 | $1–$10 | $25–$200 |
| 1956-D | $0.05–$0.50 | $1–$15 | $30–$300 |
| 1956-S | $0.10–$1 | $5–$50 | 💎 $100–$1,000+ |
🔸 RD = Red, RB = Red-Brown, BN = Brown.
Top-grade and error coins can reach 4–5 figures in major auctions! 🏆
🔍 How to Spot Valuable 1956 Pennies
1️⃣ Check the Mintmark
Look just below the wheat stalks on the reverse:
- No Mintmark: Philadelphia — most common.
- D: Denver — high mintage but valuable in gem grades.
- S: San Francisco — lower mintage, premium in uncirculated condition.
2️⃣ Grade the Condition (Sheldon Scale)
- Circulated (1–58): Visible wear on Lincoln’s cheek, hair, or wheat stalks.
- Uncirculated (MS-60–70): Full shine, no friction.
- Red (RD): Bright copper tone — 💎 highest value.
- Red-Brown (RB): Partial toning.
- Brown (BN): Fully oxidized — lowest value.
3️⃣ Look for Rare Errors
🪞 Doubled Die Obverse (DDO):
- Doubling seen on “LIBERTY,” the date, or Lincoln’s profile.
- 💰 Value: $500–$5,000+
🔁 Repunched Mintmark (RPM):
- Second “D” or “S” visible under magnification.
- 💰 Value: $50–$300
⭕ Off-Center Strikes:
- Misaligned design (5–50% off-center).
- 💰 Value: $20–$500 depending on severity.
🌎 Where to Sell 1956 Wheat Pennies
🇺🇸 Selling in the U.S.
🏛 Auction Houses (Best for Rare or Certified Coins)
- Heritage Auctions – For PCGS/NGC-graded or high-value errors.
- Submit clear photos for an expert appraisal.
- Fees: 15–20% buyer’s premium.
💻 Online Marketplaces (Mid-Range Coins)
- eBay: Ideal for uncertified or mid-tier coins under $5,000.
- Use strong keywords like “1956-S RD Wheat Penny” or “1956 DDO Error.”
- GreatCollections: Lower fees (10–15%) for certified coins.
🤝 Local Coin Shops & Shows
- Expect 60–75% of retail value.
- Coin shows (like ANA conventions) are perfect for networking with serious buyers.
🌍 Selling Internationally
💼 Global Auctions:
- Stack’s Bowers and SixBid connect to buyers in Europe and Asia.
🏛 Specialized Events:
- London Coin Fair (UK) — Top-tier market for U.S. coins.
- Hong Kong Numismatic Society — Attracts Asian collectors.
📦 Tips for Overseas Sales:
- Always use PCGS/NGC certification to build trust.
- Ship via insured registered mail (e.g., USPS International Registered).
- Research local tax or import fees before listing.
💡 Expert Tips for Maximum Value
✅ Get Graded:
Coins worth over $500 should be submitted to PCGS or NGC for professional certification.
(Example: A 1956-D MS-67 RD sold for $1,265 in 2022!)
🚫 Never Clean Your Coin:
Polishing or dipping can reduce value by up to 90%.
📜 Document Provenance:
Record where your coin came from — original sets, collections, or estates — this adds value!
❤️ Why Collectors Love the 1956 Wheat Penny
- 🔚 End of an Era: Final years of the classic Wheat design.
- 🪙 Copper Richness: Authentic pre-1982 metal content.
- 💎 Error Potential: Attractive to specialists due to scarce DDO and RPM varieties.
❓ Frequently Asked Questions
Q: How rare is a 1956-S penny?
👉 Though over 186 million were minted, only a small number survive in Gem Red (MS-65+) condition — these can exceed $1,000.
Q: Are 1956-D pennies worth saving?
✅ Only in MS-67+ Red or with clear mint errors. Common circulated coins are typically $0.05–$0.25.
Q: Can I sell my 1956 penny internationally without certification?
⚠️ Possible, but certification increases buyer confidence and premium pricing.
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