1956 Wheat Penny Value: Coin collecting is becoming a popular hobby in the US. Discovering old and rare coins in particular is an exciting experience for collectors. One such valuable coin is the 1956 White Penny, which can fetch thousands of dollars due to its rare errors and features. Recently, a high-grade 1956 White Penny has been sold at auction for as much as $57,600. Let’s find out why this coin is so valuable and how to identify it.
How to Identify a 1956 White Penny?
To identify a 1956 White Penny, it is important to keep the following features in mind:
| Description | Details |
|---|---|
| Obverse | Abraham Lincoln’s image with the inscriptions “IN GOD WE TRUST”, “LIBERTY”, and “1956”. |
| Reverse | “E PLURIBUS UNUM”, “ONE CENT”, and “UNITED STATES OF AMERICA” with wheat ears. |
| Designer | Victor D. Brenner |
| Dimensions | 19.05 mm x 1.52 mm |
| Face Value | One cent ($0.01) |
| Composition | 95% copper with zinc/tin admixture |
| Total Mintage | 1,519,615,484 |
| Mint Locations | Philadelphia (no mint mark) and Denver (D) |
Mintmark and Variations
The 1956 White Penny was minted in two locations:
- Philadelphia (no mintmark) – A total of 420,745,000 coins were minted.
- Brown coins: Priced from $0.25 to $45.
- Red coins: Priced from $0.35 to $820.
- MS67+ grade coin: Once sold for $57,600 in 2022.
- Proof versions: Priced from $42 to $900 in PR64 to PR68 grades.
- MS68+ grade proof: Once sold for $16,100 in 2003.
- Denver (D mintmark) – Total 1,098,201,100 coins minted.
- Brown coins: $0.25 – $45.
- Red coins: $0.35 – $300.
- MS67+ grade coin: Once sold for $18,000.
Rare Errors in the 1956 White Penny and Their Prices
The 1956 White Penny has a few rare errors that can increase its value.
- Repunched Mintmark (RPM) – This type of error involves the same mintmark being engraved multiple times.
- Value: $15 – $370 (up to $1,000 at auction)
- Double Die Obverse/Reverse (DDO/DDR) – A double impression of an image or lettering engraved on a coin at the mint.
- Value: $50 – $1,500
- Double Denomination Error – The coin is minted in the wrong metal.
- Value: $1,500 – $2,070
1956 White Penny Price List
| Grade | 1956 (No Mint Mark) | 1956 D | 1956 D (D Over Shadow D) |
|---|---|---|---|
| Good | – | – | $3.50 |
| Very Good | – | – | $6.05 |
| Fine | $0.06 | $0.06 | $8.36 |
| Very Fine | $0.12 | $0.12 | $12 |
| Extra Fine | $0.14 | $0.14 | $29 |
| AU (Almost Uncirculated) | $0.18 | $0.18 | $36 |
| MS 60 | $0.41 | $0.35 | $41 |
| MS 63 | $1.20 | $1.20 | $89 |
| PR 63 (Proof Grade) | $7.05 | – | – |
Why does grading make a difference in the price of a coin?
The value of coins is judged based on a grading system set forth by the Numismatic Guaranty Company (NGC) and the Professional Coin Grading Service (PCGS). Grades range from 1 to 70, where 70 means the coin is in excellent condition and 1 means the coin is extremely worn.
Conclusion
The 1956 White Penny may seem like a common coin, but its rare errors and high-grade versions can make it worth thousands of dollars. If you have an old coin collection, check it out carefully—you may have a hidden treasure worth thousands of dollars! For more information, check out other rare coin price guides in our Coin Value section.
FAQs
u003cstrongu003eQ. How much is a 1956 Wheat Penny worth?u003c/strongu003e
u003cstrongu003eA. u003c/strongu003eMost 1956 pennies are worth 2-5 cents, but rare high-grade or error coins can sell for thousands.
u003cstrongu003eQ. What are the rarest 1956 Wheat Penny errors?u003c/strongu003e
u003cstrongu003eA. u003c/strongu003eThe most valuable errors include Double Die Obverse (DDO), Repunched Mint Mark (RPM), and Double Denomination Errors.
u003cstrongu003eQ. Where was the 1956 Wheat Penny minted?u003c/strongu003e
u003cstrongu003eA. u003c/strongu003eIt was minted in Philadelphia (no mint mark) and Denver (D mint mark).
u003cstrongu003eQ. How do I know if my 1956 Wheat Penny is valuable?u003c/strongu003e
u003cstrongu003eA. u003c/strongu003eCheck for errors, mint marks, and condition. Higher-grade coins (MS67+) and rare errors fetch higher prices.
u003cstrongu003eQ. What is the highest price ever paid for a 1956 Wheat Penny?u003c/strongu003e
u003cstrongu003eA. u003c/strongu003eA high-grade MS67+ Red penny was sold for $57,600 at auction.