The Complete Guide to the 1918 Lincoln Wheat Penny: Value, Varieties & Collecting Tips

Historical Significance of the 1918 Penny

The 1918 Lincoln wheat penny represents a pivotal year in American numismatics. Struck during World War I, these coins:

• Were minted while the U.S. government conserved copper for war efforts
• Feature Victor D. Brenner’s iconic wheat ear reverse design
• Mark the 10th anniversary of the Lincoln cent series
• Show transitional characteristics between early and later wheat pennies

1918 Penny Specifications

• Composition: 95% copper, 5% tin and zinc
• Weight: 3.11 grams
• Diameter: 19 mm
• Edge: Plain
• Mint Marks: None (Philadelphia), “D” (Denver), “S” (San Francisco)

1918 Penny Varieties and Values

1. 1918 (Philadelphia)

• Mintage: 288,104,634
• Key Features:
  • No mint mark
  • Stronger strike than branch mints
• Values:
  • G4: $0.50
  • VG8: $1.25
  • AU55: $35
  • MS65: $300
  • MS66: $1,250

2. 1918-D (Denver)

• Mintage: 47,830,000
• Key Features:
  • “D” mint mark below date
  • Often weakly struck
• Values:
  • G4: $5
  • VG8: $12
  • AU55: $125
  • MS65: $1,800
  • MS66: $6,500

3. 1918-S (San Francisco)

• Mintage: 34,680,000
• Key Features:
  • “S” mint mark
  • Better strikes than Denver issues
• Values:
  • G4: $4
  • VG8: $10
  • AU55: $90
  • MS65: $1,200
  • MS66: $4,000

Notable Errors and Varieties

1. 1918 Doubled Die Obverse
   • Shows doubling on date and LIBERTY
   • Values range from 500(G4)to500(G4)to15,000 (MS63)
2. 1918-S Repunched Mint Mark
   • Visible doubling on “S” mint mark
   • Adds 50-100% premium
3. Off-Center Strikes
   • 5-10% off-center: 50−50−150
   • 30%+ off-center: 300−300−800

Grading and Condition Guide

• Red (RD): Full original color (highest value)
• Red-Brown (RB): Partial color (30-50% less than RD)
• Brown (BN): No red remaining (lowest value)

Key Grading Points:

• Check Lincoln’s cheek for wear
• Examine wheat stalks for detail
• Look for luster in uncirculated examples

Collecting Tips

1. Focus Areas:
   • Building a date/mintmark set
   • Collecting by color (RD, RB, BN)
   • Seeking high-grade examples
2. Where to Find:
   • Estate sales and antique shops
   • Coin shows and auctions
   • Online marketplaces (verify authenticity)
3. Preservation:
   • Store in archival-quality holders
   • Avoid PVC flips
   • Handle by edges only

Market Trends (2024)

• 1918-D prices up 15% since 2020
• Gem Red examples in high demand
• Error coins appreciating fastest

FAQ

Q: How can I tell if my 1918 penny is authentic?
A: Check weight (3.11g), diameter (19mm), and compare to known examples. When in doubt, get certified.

Q: Should I clean my 1918 penny?
A: Never! Cleaning reduces value by 50-90%.

Q: What’s the rarest 1918 penny?
A: The 1918 Doubled Die in MS65+ condition (only 3 known).

Q: Where’s the best place to sell?
A: For coins >$1,000, use Heritage Auctions. For lesser grades, try eBay or local dealers.

For more information and current market values, consult the PCGS Price Guide or NGC Coin Explorer.