Last Updated on August 4, 2022
With time if it is getting difficult for people to get their hands on the 1937 pennies. The wheat or 1937 pennies are one of the most recognized and important coins in US history. They may not have a high face value but a true collector knows the value they can get for them.
Therefore, there are many things that you should know about this 1937 penny. Here is a complete guide to help you with that.
How Much Is 1937 Penny Worth?
The 1937 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 $5. On the other hand, the MS63 penny is worth around $8. The proof coins have a whopping value of around $80.
The 1937 penny with S and D mintmarks has around the same value of $0.10 to $0.50 in good and very good condition. For the 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 for MS60 and $10 for MS63 graded coins.
How Many 1937 Pennies Were Minted?
The 1937 pennies were minted in three different mints. All these mints had different quantities to produce. So there are the numbers of pennies that were minted in different mints
- Philadelphia: 309,170,000
- San Francisco: 34,500,000
- Denver: 50,430,000
The total number of 1937 pennies that were ever minted is 394,100,000. This number includes the pennies that were minted every single mint.
What Are The Specifications of 1937 Penny?
The 1937 penny is a special coin belonging to the US coinage. The coin is 19mm in diameter and just 3.11 grams in weight. Make sure the 1937 penny you are looking to buy matches the same specifications.
Most of the counterfeits may have the same specifications. Therefore, it is best to have an expert’s opinion on the 1937 penny you are thinking of dealing with.
Where Is The Mintmark Present on The 1937 Penny?
The mintmark is mainly present on the obverse side of the 1937 penny. If you have a close look you can see the mintmark right under the year ‘1937’ engraved.
However, the mintmark is not present on the pennies minted in Philadelphia. The mintmark is an official stamp by the mint it was produced in. The mark is mainly the initial of the mint it was produced in.
Which Variant Of 1937 Penny Is The Best To Deal In?
The best 1937 penny to collect is the proof coin. The proof coin is minted by the mint but kept with them in the archive. The proof coins were never circulated during that era.
Now, most mints sell their proof coins at auctions and give the collectors a chance to get their hands on the best coin. The proof coins mainly have a certificate by the mint and were available in very less numbers.
So make sure if you are looking to get it always have an expert with you. There have been some incidents where people were scammed by getting proof coins.
Does 1937 Penny Contain Silver?
No, the 1937 pennies were made from a mixture of copper, zinc, and tin. The penny contains around 95% of copper and a 5% mixture of tin and zinc.
So there is no silver that you can find in the 1937 pennies. This is why people mainly refrain from melting the coins to acquire the melt value. Since there is no silver it would be a waste of effort and time to spend on melting pennies.
Where To Buy 1937 Pennies From?
The collectible coin market is so huge now that finding an old coin won’t be that difficult. However, finding a 1937 penny in perfect condition can be a bit difficult as they are rare and very difficult to find.
There are many online marketplaces where 1937 pennies are available. Make sure the site is trusted and check the reviews before placing your order. It would be best if they provided an authenticity certificate for your satisfaction.
If you like to have a look at the 1937 penny before buying it there are countless physical marketplaces. Pawn shops, collectors markets and many more are there from where you can buy the penny from. Don’t forget to have an expert by your side.