In 1938, the Denver Mint struck a total of 20,010,000 Lincoln Wheat Cents. This mintage aligns closely with the average coin production at the Denver Mint during the 1930s. However, this period marked the United States’ gradual recovery from the Great Depression, leading to a slow increase in coin production by 1938.
The 1938-D Lincoln Cent continues to capture attention due to its historical importance and collector appeal. Composed of 95% copper and 5% tin and zinc, the coin has a distinct reddish hue. If you are curious about coin collecting or want to explore the value and legacy of this coin, this guide is for you.
The Historical Value of the 1938-D Lincoln Penny
When first issued, the 1938-D Lincoln Cent had a nominal value of one cent. Over the decades, however, its value has appreciated significantly. Below are historical sales figures showcasing its increasing worth:
| Year | Sale Price (Uncirculated Roll) | Source |
|---|---|---|
| 1948 | $2.75 | The Numismatist (August 1948) |
| 1965 | $120 | Numismatic Scrapbook (January) |
| 1974 | $62.50 | The Numismatist (February) |
These records highlight a steady rise in the demand and value of the 1938-D Lincoln Cent over time.
Grading and Evaluation of the 1938-D Lincoln Cent
The grade of a coin significantly affects its market value. Third-party grading organizations such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) have certified several 1938-D Lincoln Cents at high grades.
Top-Graded Coins:
- PCGS MS68RD (8 known examples)
- NGC MS68RD (4 known examples)
Notable Auction Sales:
| Grade | Certification Number | Auction House | Sale Date | Sale Price |
|---|---|---|---|---|
| NGC MS68RD | #8207408-010 | Heritage Auctions | May 9, 2024 | $2,640 |
| NGC MS68RD | #1921328-002 | GreatCollections | October 29, 2023 | ~$3,000 |
| NGC MS68RD | #6678343-002 | GreatCollections | April 16, 2023 | ~$2,900 |
Highly graded specimens, particularly in MS67 and MS68, command premium prices in auctions due to their rarity and condition.
Design and Features of the 1938-D Lincoln Cent
| Attribute | Details |
|---|---|
| Country | United States of America |
| Year of Issue | 1938 |
| Denomination | 1 Cent (USD) |
| Mintmark | “D” (Denver Mint) |
| Composition | 95% Copper, 5% Tin and Zinc |
| Weight | 3.11 grams |
| Diameter | 19.00 mm |
| Edge | Plain |
Obverse: Features a right-facing portrait of Abraham Lincoln.
Reverse: Displays two wheat stalks framing the inscriptions “ONE CENT” and “UNITED STATES OF AMERICA.”
Is the 1938-D Lincoln Cent Rare?
While over 20 million 1938-D Lincoln Cents were minted, uncirculated examples in high grades have become rare over time. The following factors contribute to their scarcity:
- Limited High-Grade Coins: Few coins survive in MS67 or MS68 condition.
- Circulation Wear: Most 1938-D cents were used in everyday transactions, reducing their quality.
- Copper Oxidation: Copper coins are prone to oxidation, which degrades their surface and color.
Conclusion
The 1938-D Lincoln Cent is a historically significant coin cherished by collectors. Its increasing value, especially for well-preserved examples, underscores its importance in the numismatic world. Whether you are a seasoned collector or a curious enthusiast, this coin remains a fascinating piece of American history.
FAQs
What is the value of a 1938-D Lincoln Cent today?
Depending on its condition, it can range from a few dollars for circulated pieces to thousands for top-graded specimens.
How can I tell if my 1938-D Lincoln Cent is valuable?
Look for sharp details, minimal wear, and a bright red copper tone. Professional grading enhances value.
Why are high-grade 1938-D Lincoln Cents rare?
Most were used in circulation, and copper coins degrade over time, making pristine examples scarce.
What does the “D” mintmark mean on the coin?
The “D” indicates the coin was produced at the Denver Mint.
Where can I sell my 1938-D Lincoln Cent?
You can sell it through auction houses, coin dealers, or online marketplaces specializing in numismatics.