The 1938 Lincoln Wheat Penny might seem like a common old coin, but recent headlines prove otherwise. In 2025, a rare 1938 Lincoln Cent sold for a jaw-dropping $1.5 million at auction in New York. 🏛️💎
This record-breaking sale shows why even everyday coins — in pristine condition or with rare mint errors — can be worth life-changing money. Let’s break down everything you need to know about the 1938 Wheat Penny, including values, mint marks, and key errors.
🪙 1938 Wheat Penny Details
- Mint locations: Philadelphia (no mint mark), San Francisco (S), Denver (D)
- Total mintage: 191,886,734
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% tin & zinc
- Weight: 3.11 g
- Edge: Plain
The 1938 Wheat Cent is part of the beloved Lincoln Wheat Penny series (1909–1958). While most are worth only a few cents, rare errors and gem-quality coins can skyrocket into the thousands — or even millions.
🏷️ 1938 Wheat Penny Value Chart (Updated for 2025)
| Condition | 1938 (No Mint) | 1938-S | 1938-D | 1938 Proof |
|---|---|---|---|---|
| Good | $0.17 | $0.45 | $0.22 | – |
| Very Good | $0.22 | $0.56 | $0.33 | – |
| Fine | $0.33 | $0.67 | $0.56 | – |
| Very Fine | $0.45 | $0.85 | $0.90 | – |
| Extra Fine | $1.13 | $1.25 | $1.42 | – |
| Uncirculated | $2.28 | $3.30 | $3.30 | – |
| MS 60 | $4.52 | $4.52 | $4.52 | $24 |
| MS 63 | $10.00 | $9.13 | $10.00 | $96 |
| MS 68+ (Top Grade) | — | — | — | Up to $1.5M |
💎 Auction Highlight: A 1938 Proof Lincoln Cent graded MS68+ Red (RD) with a doubled die + repunched mint mark sold for $1.5 million in 2025.
🔍 Rare 1938 Penny Errors That Add Big Value
Some errors make the 1938 penny extremely collectible:
- 🔄 Off-Center Strike
- Slightly off-center: $30–$60
- 50%+ off-center in high grade: up to $5,000+
- 👁️ Doubled Die Error
- Doubled letters (esp. E PLURIBUS UNUM or wheat stalks).
- Circulated: $30–$100
- Uncirculated: $500–$5,000+
- The $1.5M coin had this error.
- ⚡ BIE Die Break
- Crack between “B” and “E” in LIBERTY looks like “BIE.”
- Common: $10–$30
- High-grade: $100+
- 🪙 Repunched Mint Mark (RPM)
- Doubling/tripling of “D” or “S” mint mark.
- Average: $10–$50
- Rare MS examples: $700+
- The $1.5M coin had a repunched “D” mint mark.
🏛️ Highest Auction Prices (Updated)
- Philadelphia (No Mint):
- 2005 MS68 RD → $6,325
- 2025 MS68+ RD error → $1.5 million 💰
- Denver (D):
- 2007 MS68 RD → $4,313
- San Francisco (S):
- 2014 MS68 RD → $2,115
These values reflect Red (RD) coins in MS67–MS68+, often with rare varieties and strong luster.
📚 1938 Penny FAQ
❓ What makes a 1938 penny valuable?
- High grades (MS65+ Red)
- Rare errors (doubled dies, off-center, repunched mint marks)
- Strong eye appeal + full red luster
💵 How much is a 1938 penny worth?
- Most: $0.15 – $5
- Proofs: Up to $100+
- Uncirculated high grade: Up to $500
- Error coins: $1,000 – $10,000+
- Top-tier specimens: $1.5 million (2025 record)
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