Introduction to 1956 Lincoln Cents
The 1956 penny series includes some of the most valuable regular-issue Lincoln wheat cents, with certain mint marks and grades commanding five-figure prices. This guide covers all three major varieties, including the legendary “Milesafen” error and top-grade specimens that sell for life-changing money.
1956 Penny Varieties & Values
1. 1956 No Mint Mark (Philadelphia) – The $57,600 Rarity
- Grade: MS67+ (Red)
- Record Price: $57,600
- Key Features:
- Struck at Philadelphia Mint (no mint mark)
- “Milesafen” error (misaligned die causing letter transfer)
- Only 2-3 specimens known in this grade
- Vibrant original red luster required
Market Insight:
Perfect MS67+ RD examples are rarer than many classic silver dollars. The “Milesafen” variety (showing letter impressions from collar die) adds significant premium.
2. 1956-D (Denver Mint) – $18,000 Super Gem
- Grade: MS67+ (Red)
- Auction Record: $18,000
- Distinctive Traits:
- Bold “D” mint mark below date
- Full wheat stalk details
- “United StatS of Africa” die break error
- 98%+ original red surface
Collector’s Tip:
While more common than Philadelphia issues, gem-quality 1956-D cents are exceptionally rare due to soft strikes and bag marks.
3. 1956 Proof (San Francisco) – $16,100 Cameo
- Grade: PR68 (Deep Cameo)
- Recent Sale: $16,100
- Special Characteristics:
- Mirror fields with frosted devices
- “United State of Afreca” die polish error
- Struck on specially prepared planchets
- Only 50-100 exist in PR68+ condition
Historical Context:
1956 proof sets had mintage of 669,384, but most have toned or been mishandled. Pristine examples are museum-quality.
Why 1956 Pennies Are Valuable
The Three Factors Driving Value:
- Condition Rarity
- MS67+/PR68+ specimens represent top 0.01% of survivors
- Original red color (RD) adds 300-500% premium over brown coins
- Error Varieties
- Die breaks (“Africa” errors)
- Misaligned dies (“Milesafen”)
- Double strikes (extremely valuable)
- Historical Significance
- Last year before proof production moved to Philadelphia
- Final year of “Wheat Ears” reverse before memorial redesign
Grading Standards for Maximum Value
For Circulation Strikes:
- MS67+ Red: Full cartwheel luster, zero visible marks under 5x magnification
- MS66 Red: 1-2 tiny marks, strong luster (still $5,000+ coins)
For Proofs:
- PR68 Cameo: Sharp mirror contrast, no haze or spotting
- PR67 DCAM: Slight toning allowed, strong devices
Professional authentication (PCGS/NGC) is mandatory for coins over $5,000.
Where to Find These Rare Pennies
Best Sources:
- Heritage Auctions (Record-setting sales)
- PCGS Set Registry Collections (Top-grade examples)
- Old Proof Sets (Search original packaging)
- Coin Dealer Vaults (High-end inventory)
Hunting Tips:
- Examine all 1956-D pennies for strong strikes
- Check Philadelphia issues for die breaks
- Use 10x magnification to spot “Milesafen” errors
Market Trends & Investment Potential
2024 Price Movements:
- 1956 MS67+ RD up 22% since 2020
- Proofs gaining popularity with registry set collectors
- Error varieties now recognized as separate catalog items
Selling Advice:
- Auction houses for coins > $10,000
- Certified dealer networks for 1,000−1,000−10,000 range
- Always get multiple offers for top-tier specimens
FAQ
Q: How many 1956 “Milesafen” pennies exist?
A: Verified specimens: 3 in MS67+, 12 in MS66 or lower.
Q: Are all 1956-D pennies valuable?
A: Only in MS65+ RD grades. Worn examples are worth 10-25¢.
Q: What’s the most common 1956 error?
A: Die cracks between “STATES” and “OF” (worth 50−50−300).
Q: Should I crack out certified coins?
A: Never – encapsulation preserves value and authenticity.
Start Your 1956 Penny Search Today
While finding a 50,000pennyisunlikely,manycollectorsdiscover50,000pennyisunlikely,manycollectorsdiscover500-$5,000 specimens in:
- Inherited collections
- Old coin rolls
- Dealer “junk” bins
Want to go deeper? Explore our guides on:
→ [Lincoln Cent Error Coin Identification]
→ [How to Submit Coins for Grading]
→ [Building a Wheat Penny Set Registry]
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