Last Updated on October 2, 2022
You may have heard about the Lincoln Wheat Penny, as they have great historical value and importance in the US coin collection industry.
The 1936 wheat pennies in particular are known for many things other than their value. But do they have a good value in the market compared to other pennies from similar years?
Here is our full answer to that question.
How Much Is 1936 Penny Worth?
A 1936 penny with no mintmark present is only worth around its face value which is $0.10 if in good or very good condition. But if it is in extremely fine condition it can have a value of up to $2 to $3.
If in the uncirculated condition the MS60 penny can have a value of up to $7. On the other hand, the MS63 penny is worth around $15. The proof coins have a whopping value of around $250.
The 1936 penny with S and D mintmarks has around the same value of $0.10 to $0.50 in good and very good condition. For extremely fine condition coins, the value can go up to $2.
Lastly, in the uncirculated condition, the pennies can have a value of around $6 and $10 for MS63 graded coins.
Do The Error Coins of 1936 Pennies Worth Anything?
Yes, there are error coins present of 1936 penny and they are worth a lot compared to the standard coins. The reason why error coins are worth a lot is that they are very less in numbers and are unique.
Just in good condition, the pennies are worth around $30 and $45 in very good condition. In addition, the very fine condition coins can easily go for around $150.
If in uncirculated condition and having an MS60 grade the value can be up to $600. On the other hand, if the penny is MS63 grade then it is worth around $2,500.
Therefore, it would be great to have an error coin in your collection and the value appreciates with time. There are always going to turn out profitable for you.
How To Identify Error Coins Of 1936 Penny?
The first thing about error coins is that they won’t have any mintmark as they were produced in the mint of Philadelphia. However, that isn’t an error but just a feature of the coin. All the errors are present on the obverse side of the penny.
The first thing to notice is the doubling of words in ‘In God We Trust. If you look at it clearly and compare it to any other penny you can see that the error coin has a darker font. This is due to the doubling of dies.
Not only that, the word ‘Liberty’ was doubled. So make sure to have a close look at that as well.
What Is The 1936 Penny Made Up Of?
The penny is one of the smallest denominations of US currency. The 1936 penny coin is made up of 95% copper and a 5% mixture of tin and zinc. Therefore, the color is similar to the bronze of the pennies.
It is important to understand the metal composition of the old coins you are looking to buy. It helps you verify the coins.
What Is Present on The Obverse And Reverse Side of 1936 Penny?
The obverse side of any coin is known as the front side. On the front side of the 1936 penny, the first thing you will see is the portrait of Abraham Lincoln right in the center of the penny. Right above the portrait ‘IN GOD WE TRUST’ is engraved.
On the left side of the portrait, you can see ‘Liberty’ and on the right, the year 1936 is engraved.
On the other hand, the reverse side is known as the tail side of a coin. In the center of the penny, the denomination ONE CENT is engraved. Above that around the corners the US motto E PLURIBUS UNUM is present.
While right under the denomination UNITED STATES OF AMERICA is present. Lastly, on the corner of both sides, there are stalks of wheat engraved. Therefore, these pennies are also known as wheat pennies.
What Are The Specifications of 1936 Penny?
The specifications of the penny help understand the hidden features which are the weight and diameter of the coin. The 1936 penny weighs around 3.11 grams. In addition, the diameter of the penny is 19mm.
This information will help you when you are going to buy yourself a 1936 penny and need to verify the coin. However, make sure you are also accompanied by an expert whenever you are dealing with old coins.