A Wheat penny is a US one-cent produced from 1909 – 1959. It depicts Abraham Lincoln on its Obverse and two wheat ears on its reverse which is where it derives its name “Wheat Penny” from. This coin was brought into existence to commemorate the centennial year of the birth of this former US president.
A first of its kind, as no other coin had been graced with the face of a US president as its design since this was initially considered to be a tradition for only monarchies. The Wheat penny easily strikes a chord in the hearts of many for such a historic event that it depicts and because of how old it is; undoubtedly a delight for collectors.
This article will provide you with answers that you need to help you make the best decisions very easily, whether it is to buy or sell this coin that you are interested in.
1920 Wheat Penny
In average condition, a 1920 Lincoln Wheat Penny is worth $0.33 in today’s economy and can be worth $17 to $31 or more in uncirculated (MS+) mint condition. The 1920-D Lincoln Wheat Penny is worth $1.71 in Average Condition and can be worth as much as $91 to $121 or more if it is in Uncirculated (MS+) Mint Condition.
The estimated value of a 1920-S Lincoln Wheat Penny in average condition is $0.73 and can be worth $121 to $205 or more in Uncirculated (MS+) Mint Condition.
Please ensure you go through value charts and other information provided carefully as there are many factors that could make the value of your coin shoot up dramatically.
Actually, it was citizens who began writing to the Treasury Department requesting that the late president Abraham Lincoln’s face should be depicted on a coin. The Treasury obliged this request, so when it was released it was an answer to their prayers and was received with wide-open arms.
The 1920 Wheat Penny is very desirable and highly sought after by collectors and as a result, the worth of this coin is a big question in the hearts of many. You should not expect to get one straight figure as your answer because the type and grade of this coin determine its value.
The 1920 wheat penny was struck in three different mints and has 3 different varieties
- Philadelphia (no mint mark)
- San Francisco (1920 S Penny)
- Denver (1920 D Penny)
| Mintage (P) (D) (S) | (310,165,000) (49,280,000) (46,220,000) |
| Metal Composition | 95% Copper – 5% Tin and Zinc |
| Mass/Weight | 3.11 grams |
| Diameter | 19 mm |
| Thickness | 1.95 mm |
| Minted At | Philadelphia, Denver, San Francisco |
| Mint Marks | “P” “D” “S” |
| Edge | Plain |
| Designer | Victor D Brenner |
1920 Wheat Penny History
The Wheat Penny is also known as the Lincoln cent or Lincoln Penny. In 1909, Brenner was assigned to design a cent depicting president Abraham Lincoln to celebrate the centennial year of his birth. As earlier stated, this was the first time the president of the USA was engraved on a coin.
Prior to this, Augustus Saint- Gaudens was hired to make new coin designs. Unfortunately, he was sick with cancer and kicked the bucket without submitting another design for the cent.
There was a debate on whether the Brenner initials (VDB) should remain on the coin. It was finally removed within days of release but brought back in 1918 with smaller inscriptions on Lincoln’s shoulder making it less prominent.
Cents with VDB on it were initially minted only at Philadelphia with no mint marks and San Francisco with S mint mark. About 28 million Philadelphia VDB cents were produced while only 484000 coins with VDB initials were struck in San Francisco making the 1909 S with VDB initials the rarest wheat Penny coin.
It was in 1911 that the Denver mint began Producing cents with the D mark.
In 1943 copper was much needed for the war, so the original 95% copper content of the coin was substituted with zinc coated steel. It was later returned to copper until 1982 when Copper became too expensive because of inflation, then it was substituted again for Zinc.
In 1959, Frank Gasparro designed another reverse that depicted Lincoln Memorial, this one was to celebrate his sesquicentennial birth year.
In 2009 another replacement of the reverse was done, four commemorative designs replaced the former one and this was done to celebrate Lincoln’s bicentennial.
1920 Wheat Penny Design (Obverse & Reverse)
Obverse
The Obverse of this coin is simple and strong. It shows the right profile of Abraham Lincoln. “IN GOD WE TRUST” is written over his head, “LIBERTY” is engraved on his left side, and “1920” is engraved on his right side.
Designed by Victor D Brenner, he States that the design follows a profile of Lincoln he had worked with before.
Numismatic historians such as Roger Burdette and Fred Reed are of the opinion that Brenner drew his inspiration for this work from a popular Brady photograph of Lincoln and his son. This might be true as it is said that in a letter written by Brenner in April 1909, he had stated in creating this piece, he envisioned Lincoln reading to a child.
Reverse
“ONE CENT” boldly inscribed on this side with “UNITED STATES OF AMERICA” right beneath it, all laying in between two ears of durum wheat one on the right and the other on the left side of the coin. “E . PLURIBUS UNUM” is inscribed at the top very close to the rim of the coin.
The reverse design was compared to the French silver coins displaying a tree branch.
After Brenner submitted his proposal designs, Leech was not totally satisfied as he asked him to make a simple design with just three details, the country’s name, the denomination and the motto “E.Pluribus Unum”. He went ahead to enact this change and included both of the wheat durum.
It was President Roosevelt who saw the design and approved it but requested that the word “UNITED” be spelled correctly as Brenner had initially spelled it as “Vnited”
1920 Wheat Penny Value and Mint Mark
| 1920 Wheat Penny Value By Greysheet | |||
| Year | Mintage | MS 60 | MS 65 |
| 1920 P | 310,165,000 | $12 | $60 |
| 1920 D | 487,680,000 | $57 | $375 |
| 1920 S | 46,220,000 | $85 | $575 |
1920 Wheat Penny Coin Value & Chart
| Group | Small Cents |
| Mintage | 310,615,000 |
| Metal Composition | 95% Copper – 5% Tin and Zinc |
| Mass/Weight | 3.11 grams |
| Diameter | 19 mm |
| Minted At | Philadelphia |
| Mint Mark | No mint mark |
| Edge | Plain |
This is a 1920 Wheat Penny coin with no mint mark. It was produced in Philadelphia, all 1920 wheat coins produced in this mint have no mint marks. In average condition, a 1920 Lincoln Wheat Penny is worth $0.33 in today’s economy and can be worth $17 to $31 or more in uncirculated (MS+) mint condition.
| 1920 P Wheat Penny Value by USA Coin Book | |
| Grade | Price |
| Good | $0.22 |
| Very Good | $0.33 |
| Fine | $0.39 |
| Very Fine | $0.56 |
| Extremely Fine | $2.55 |
| About Uncirculated (AU 50) | $4.52 |
| Uncirculated MS (60) | $17 |
| Brilliant Uncirculated MS (63) | $31 |
| 1920 P Wheat Penny By PCGS | |
| Grade | Price |
| MS 62 | $42.00 |
| MS 62+ | $48.00 |
| MS 63 | $60.00 |
| MS 63+ | $70.00 |
| MS 64 | $105.00 |
| MS 64+ | $125.00 |
| MS 65 | $275.00 |
| MS 65+ | $300.00 |
| MS 66 | $650.00 |
| MS 66+ | $1200.00 |
| MS 67 | $6500.00 |
| MS 67+ | $16000.00 |
| 1920 Wheat Penny Coin Value By Greysheet | |
| Grade | Price |
| XF 40 | $2.00 |
| XF 45 | $3.30 |
| AU 50 | $6.00 |
| AU 53 | $7.30 |
| AU 55 | $8.20 |
| AU 58 | $12.00 |
| MS 60 | $12.00 |
| MS 61 | $13.70 |
| MS 62 | $14.80 |
| MS 63 | $17.00 |
| MS 64 | $30.00 |
| MS 65 | $60.00 |
| MS 66 | $525.00 |
| MS 67 | $4800.00 |
1920 D Wheat Penny Value And Chart
| Group | Small Cents |
| Mintage | 49,280,000 |
| Metal Composition | 95% Copper – 5% Tin and Zinc |
| Mass/Weight | 3.11 grams |
| Diameter | 19 mm |
| Minted At | Philadelphia |
| Mint Mark | D |
| Edge | Plain |
Here is a 1920 D Wheat Penny struck in Denver. It has the “D” mint mark on the right side of the coin, right beneath “1920.” The 1920-D Lincoln Wheat Penny is worth $1.71 in Average Condition and can be worth as much as $91 to $121 or more if it is in Uncirculated (MS+) Mint Condition.
| 1920 D Wheat Penny Coin Value By USA Coin Book | |
| Grade | Price |
| Good | $1.13 |
| Very Good | $1.71 |
| Fine | $3.30 |
| Very Fine | $7.18 |
| Extremely Fine | $21 |
| About Uncirculated (AU 50) | $45 |
| Uncirculated MS (60) | $91 |
| Brilliant Uncirculated MS (63) | $121 |
| 1920 D Wheat Penny By PCGS | |
| Grade | Price |
| MS 62 | $215+ |
| MS 62+ | $230+ |
| MS 63 | $300 |
| MS 63+ | $340 |
| MS 64 | $525+ |
| MS 64+ | $725 |
| MS 65 | $2000.00 |
| MS 65+ | $3750.00 |
| MS 66 | $21,500.00 |
| 1920 D Wheat Penny Coin Value By Greysheet | |
| Grade | Price |
| XF 40 | $10 |
| XF 45 | $16 |
| AU 50 | $28 |
| AU 53 | $30 |
| AU 55 | $35 |
| AU 58 | $42 |
| MS 60 | $57 |
| MS 61 | $68 |
| MS 62 | $75 |
| MS 63 | $90 |
| MS 64 | $170 |
| MS 65 | $375 |
1920 S Wheat Penny Value And Chart
| Group | Small Cents |
| Mintage | 46,220,000 |
| Metal Composition | 95% Copper – 5% Tin and Zinc |
| Mass/Weight | 3.11 grams |
| Diameter | 19 mm |
| Minted At | San Francisco |
| Mint Mark | S |
| Edge | Plain |
| 1920 S Wheat Penny Coin Value By UsaCoinBook | |
| Grade | Price |
| Good | $0.56 |
| Very Good | $0.73 |
| Fine | $1.71 |
| Very Fine | $2.55 |
| Extremely Fine | $11 |
| About Uncirculated (AU 50) | $39 |
| Uncirculated MS (60) | $121 |
| Brilliant Uncirculated MS (63) | $205 |
| 1920 S Wheat Penny By PCGS | |
| Grade | Price |
| MS 63 | $950.00 |
| MS 63+ | $1100.00 |
| MS 64 | $1800.00 |
| MS 64+ | $3900.00 |
| MS 65 | $13000.00 |
| MS 65+ | $50000.00 |
| 1920 S Wheat Penny Coin Value By Greysheet | |
| Grade | Price |
| XF 40 | $10.00 |
| XF 45 | $16.00 |
| AU 50 | $28.00 |
| AU 53 | $30.00 |
| AU 55 | $40.00 |
| AU 58 | $50.00 |
| MS 60 | $85.00 |
| MS 61 | $103.00 |
| MS 62 | $116.00 |
| MS 63 | $140.00 |
| MS 64 | $300.00 |
| MS 65 | $575.00 |
1920 Wheat Penny Errors
Apparently, the 1920 Wheat Penny does not have a very well-known error coin. There are many broad strikes, clips, and lamination errors. One significant 1920 wheat penny error is the Argentina planchet error.
1. The Argentina Planchet Error
This 1920 P Lincoln cent was struck on an Argentina 10 centavo planchet. In 1920, the US Mint struck copper-nickel 10 centavos pieces for Argentina. It is an extremely rare error, it is said that only 15 pieces of this coin exist.
This coin sold in its MS62 condition sold for $690.00 on Heritage Auctions on January 7, 2011. This particular coin also has a broad strike error.
2. A Clip Planchet Error
A clipped planchet error is a coin that is missing some of its edges. This is a 1920 Wheat Penny coin in Very Good (VG). It has a flat clip planchet error which almost takes out “IN GOD WE TRUST” above Lincoln’s head on the Obverse and affects the lower left side of the reverse.
3. Lamination Error
Lamination errors occur when the surface of the coin flakes or cracks. This error occurs on the Obverse and runs down diagonally from Abraham Lincoln’s face to the rim of the coin
4. Broad Struck Error
According to Merriam Webster dictionary a broad strike is an error occurring during the minting of a coin when the die collar is loose or improperly positioned. This very lovely 1920 broad struck coin is available on eBay for $60
Frequently Asked Questions
How much is a 1920 wheat penny Worth
A 1920 Good grade coin is about $0.22, in extremely fine condition you can get it for about $0.39. The uncirculated versions and error coins are worth much more than this as they can get up to hundreds and thousands of dollars.
Is a 1920 penny rare?
A 1920 penny is not considered a rarity because the US mint produced millions of coins, however, higher grades of this coin are rare.
Does the 1920 Wheat Penny have errors?
Yes, the Argentina planchet error which was an error that occurred when a 1920 wheat coin was struck on an Argentina 10 centavo planchet. Other errors include clip planchet errors and lamination errors
Conclusion
If you come across a 1920 wheat penny today, it probably isn’t worth going to the store and buying a bunch of lottery tickets. The next time you spot one of these unique coins (which only exist in mint condition), don’t pop it in your money jar right away—you might want to take it down to the local coin shop for an appraisal instead. Be honest with yourself about how you came by the penny, though—it won’t be worth nearly as much if (for example) you accidentally stepped on it when you were walking barefoot through the grass.
